Airbus today announced plans to build its first U.S. manufacturing facility in Mobile, Alabama. The Organization for International Investment (OFII) represents the unique interests of U.S. subsidiaries of multi-national companies, including EADS and Airbus.
“Today’s announcement by Airbus highlights the importance of inbound investment and the overwhelmingly positive impact FDI has on the US economy and local communities and jobs --especially manufacturing jobs, like those to be created by Airbus,” said Nancy McLernon, President & CEO of OFII. “Alabama is a state that has seen its economy benefit greatly from inbound investment -- Hyundai and Daimler’s Mercedes-Benz are two of the state’s top employers.”
Recognizing the value of FDI to our nation’s financial recovery and long-term economic future, bi-partisan members of Congress last month introduced legislation aimed at improving our FDI marketability. The "Global Investment in American Jobs Act" seeks to reclaim America's competitive edge in attracting inbound investment and reverse the significant decline in U.S. share of global FDI -- today the U.S. share of global FDI is 18% compared to 41% ten years ago.
“Companies are making strategic investments in the United States, but if we want to see additional announcements by companies such as Airbus, the U.S. has to be more competitive -- our share of global FDI is declining at an alarming rate -- down 50% in the last decade,” added Nancy McLernon.
“Chain Reaction, Global Investment Works for America” is a first-of-its-kind report by OFII that further illuminates the full and cascading impact of FDI on the U.S. economy:
Other Facts on Foreign Direct Investment in the US:
• JOBS: 5% of direct private sector employment - 5.3 million jobs
• MANUFACTURING: 17% of manufacturing jobs - approximately 2 million
• EXPORTS: 21% of all U.S. exports - $219.7 billion
• R&D: 14% of U.S. research and development activities - $43.4 billion annually
• REINVESMENT: U.S. subsidiaries of foreign companies reinvest an annual $93.7 billion in their U.S. operations
• SUPPLY CHAIN IMPACT: U.S. subsidiaries of foreign companies buy more than $1.8 trillion in goods and services from local suppliers and small businesses.
• TAXES: 17% of U.S. corporate income tax payments.
Please contact Amanda Reid or Dan Hill to schedule an interview with Nancy McLernon or for additional information. For additional information, see OFII’s website at ofii.org/.