Printable Version

• U.S. subsidiaries in Connecticut play a vital role in supporting jobs. They now employ 100,900 workers in Connecticut.
• Connecticut has proven to be an attractive location for international employers, ranking 18th in the United States in the number of employees supported by U.S. subsidiaries.
• In fact, the relative portion of jobs in the state supplied by U.S. subsidiaries remains significant. They provide the livelihood for nearly 7% of Connecticut's private-sector workforce.
• Connecticut ranks 3rd in the country in the share of its workforce supported by U.S. subsidiaries.

• U.S. subsidiaries support 26,800 manufacturing jobs in Connecticut. Manufacturing companies tend to have a strong "multiplier" effect on the economy—stimulating a substantial amount of activity and jobs in other sectors through their demand for inputs from other suppliers.
• Almost 14% of manufacturing jobs in Connecticut are supported by U.S. subsidiaries.
• U.S. subsidiaries’ employment in Connecticut is heavily concentrated in manufacturing. Over 25% of these jobs are in manufacturing industries.

• U.S. subsidiaries consistently support millions of American jobs. They now employ 5.1 million Americans-or 4.4% of private sector employment.
• U.S. subsidiaries support an annual payroll of $335.9 billion.
• U.S. subsidiaries provide an average compensation per U.S. worker of $66,042; this is 32% higher than compensation at all U.S. companies.
• U.S. subsidiaries also spent $121 billion on plant construction and new equipment.
• U.S. subsidiaries' share of U.S. manufacturing employment represents almost 11% of American manufacturing jobs.

Volvo Aero, a U.S. subsidiary of Sweden-based Volvo, recently began construction on a 27,000-square foot expansion of their plant and office building in Newington, Connecticut. Construction on the $15 million expansion will be completed by the end of 2007. Volvo purchased the company, formally known as Aero-craft, in 2004, and has since expanded the number of people working for the company from 30 to 60, with up to 40 more jobs being created once the expansion becomes fully operational.