Washington, D.C. — New data from the Bureau of Economic Analysis (BEA) confirms that international companies are expanding their economic contribution — creating jobs, strengthening manufacturing and investing heavily in innovation and U.S. workers.
“These numbers reaffirm what we see every day: international companies choose America, invest in America and hire in America,” said Jonathan Samford, President & CEO of the Global Business Alliance (GBA). “This continued growth is a testament to the strength of the U.S. market, our workforce and our world-leading innovation environment. When international companies set up operations here, American workers succeed with great-paying manufacturing jobs.”
According to the newly released BEA data, international companies employed 8.7 million American workers in 2023, an increase of nearly 160,000 jobs from the prior year, representing 6.2 percent of the U.S. private workforce. Across the nation, U.S. workers at international companies earn 7 percent higher compensation than the economywide average — making $92,993 annually.
Other Key Findings:
- Since 2018, international companies have added 800,000 new jobs, a 10 percent increase, while total U.S. private-sector jobs increased five percent.
- International companies support 3 million manufacturing jobs, accounting for 23 percent of total U.S. manufacturing employment.
- International companies spend more than $88 billion on U.S. R&D activities, or 12 percent of all R&D performed by U.S. companies.
- U.S. workers of international companies produce 22 percent of U.S. exports, shipping $445 billion in goods to customers around the world.
- International companies pay 21 percent of all federal corporate income taxes.
About the Global Business Alliance
As the premier voice of international companies in the United States, the Global Business Alliance (GBA) actively promotes and defends an open economy that welcomes international companies to invest in America. Our members are American companies with global heritage and an indispensable part of our nation’s economic success. When America is open for business, we all benefit. Learn more about how international companies are benefiting U.S. workers and communities by visiting www.globalbusiness.org.