April 12, 2011

OFII Kicks Off Infrastructure Campaign to Build U.S. Global Competitiveness

Washington, DC- The Organization for International Investment (OFII), a Washington business association representing the unique interests of U.S. subsidiaries of global companies, today launched a powerful campaign aimed at strengthening America’s infrastructure to enhance U.S. competitiveness and attract foreign direct investment.

 “Historically, America’s infrastructure has provided the U.S. with a competitive advantage that has helped to attract worldwide investment to this country,” said Nancy McLernon, OFII President & CEO. “Despite the current fiscal constraints the U.S. faces, we must ensure America has a world-class infrastructure.  The U.S. subsidiaries of global companies have a strong interest in an efficient, modernized infrastructure to maintain their success in this country and enable them to continue as a source of American job creation into the future.”

 As part of the infrastructure campaign, OFII has released “Building Competiveness - American Jobs, American Infrastructure, American Global Competitiveness,” written by Professor Matthew Slaughter, Tuck School of Business, Dartmouth College. The paper highlights the critical link between strengthening our infrastructure and remaining globally competitive.

 “America’s recovery from the financial crisis and recession is very welcome, but it remains tenuous,” Slaughter said.  “Rebuilding America’s infrastructure can play a role in not just creating American jobs but also boosting the productivity of American companies—which in turn supports rising incomes for workers and their families.”

 Facts about U.S. subsidiaries of global companies:

Jobs: U.S. subsidiaries of global companies employ 5.6 million Americans;

Payroll: U.S. subsidiaries support an annual payroll of $408.5 billion;

Manufacturing: U.S. subsidiaries heavily invest in the American manufacturing sector; nearly 38 percent of American jobs at U.S. subsidiaries are in manufacturing;

Exports: U.S. subsidiaries manufacture in America to export goods around the world — accounting for more than 18 percent of all U.S. exports, or $232.4 billion;

Reinvestment:  U.S. subsidiaries reinvest an annual $93.1 billion in their U.S. operations.

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The Organization for International Investment is a Washington-based business association representing U.S. operations of global companies. To view OFII's membership list click here.