GOVERNOR: NEW YORK 2nd IN THE NATION FOR "INSOURCING" JOBS
New Study Places NY Among Top Two States in Attracting Foreign Investment and Jobs

Governor George E. Pataki noted a national study released today that ranks New York second in the nation in attracting foreign companies to create jobs in the State. The new study was conducted by the Washington, D.C. based Organization for International Investment (OFII).

The study by OFII, entitled "Insourcing Jobs: Making the Global Economy Work for America," highlights New York's recent growth in foreign investment and job creation. According to the study, New York State has 394,700 "insourced" jobs, which represents an increase of 97,300 over the past five years -- a 33 percent increase.

"While the debate in Washington centers on outsourcing and the country's ability to rapidly adapt to a changing economy, New York continues to be a top national leader in attracting foreign investment and good-paying jobs," Governor Pataki said. "This study is proof positive that the most effective way to create jobs and grow the economy is by cutting taxes and fighting for policies that reduce the cost of doing business. That is what we are doing here in New York."

"New York is a great location for job-creating investment by foreign companies, and our ability to attract jobs from around the world will be critical in helping us achieve our goal of creating one million new jobs in our State by the end of the decade," Governor Pataki added. "We will continue to do everything we can to build on our success in marketing our State to overseas businesses and welcoming foreign investment to New York."

In addition to achieving an overall ranking of second in the nation for the total number of "insourced" jobs, New York ranks ninth in the nation in the number of "insourced" jobs in the manufacturing sector. Overall, New York State's total "insourced" jobs now make up nearly six percent of its total workforce.

The top 20 states in terms of "insourced jobs" - ranked in order - are California, New York, Texas, Illinois, Florida, Pennsylvania, New Jersey, Ohio, North Carolina, Michigan, Massachusetts, Georgia, Virginia, Indiana, Tennessee, South Carolina, Connecticut, Wisconsin, Maryland and Missouri.

For a full-copy of the report or more state-specific information on "insourcing," visit www.ofii.org.

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