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December 30, 2005

The Significant Impact of "Insourced" Jobs on the Southeast

The Organization for International Investment, an association of U.S. subsidiaries of foreign companies, released a report, by state, on employment due to such companies. The OII uses Commerce Department data to prepare this report (which raises the question of why the Commerce Department itself doesn’t publicize these figures, but that’s another subject).

California is the state with the most "insourcing" jobs (561,000), followed by New York (382,600), Texas (339,300), Illinois (254,900), and Florida (248,900). Other Southern states with large numbers of such employment include North Carolina, ranked number 10 nationally with 204,600 jobs, Georgia (#12 rank, 182,800 jobs), Virginia (#13 rank, 138,600 jobs), South Carolina (#15 rank, 127,500 jobs), and Tennessee (#16 rank, 127,400 jobs).

Consider what such employment means for Georgia. Georgia’s number of "insourcing jobs" is roughly equivalent to the population of Columbus, taking the city and county population combined. Columbus is Georgia's third largest city. Moreover, Georgia's "insourced jobs" are not much much less than the population of Augusta, its second largest city.

The impact of such jobs on a smaller state like South Carolina is even more striking. The entire population of the state is just over 4.1 million; again, population includes the working and non-working, including children and the retired. Removing the number of jobs due to foreign-owned companies would be akin to plucking out the entire City of Charleston proper.

Foreign-owned companies are a major contributor to Southeastern economic development, like it or not.

The numbers speak for themselves.

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