Economic ties with the Netherlands support more than 700,000 American jobs, according to a new report by the Royal Dutch Embassy. Trade and investment between the USA and the Netherlands pay dividends in imports, exports and job creation in both countries.
The Dutch are the third largest investor ($238 billion) in the United States, after the United Kingdom and Japan. In turn, the USA is the largest foreign investor in the Netherlands, with investments of $472 billion. Using data derived from the U.S. Department of Commerce’s Bureau of Economic Analysis and the Census Bureau, the report calculates that exports to the Netherlands and investment by Dutch companies such as AkzoNobel, Heineken, ING, Philips, Randstad, Royal Dutch Shell and Unilever supported more than 704,000 jobs in the United States from 2008-2009.
A state-by-state-breakdown of Dutch investments and trade
The report provides a state-by-state breakdown of Dutch foreign direct investments and trade with the Netherlands. The three states benefiting the most from this economic relationship are Texas, California and Massachusetts. The report includes a clickable map of the United States with state specific information on Dutch investment and trade.
Dutch Ambassador Renée Jones-Bos: "The report makes clear that many American jobs are the result of trade and foreign investment. While not underestimating the importance of emerging markets, this report shows how important existing economic ties are and continue to be for growth and recovery. Our strong economic bond has been forged by four centuries of shared ideals, business values and a commitment to entrepreneurism."
A Heineken representative in the USA added, "The United States has been an important export market for Heineken since the repeal of Prohibition", stated Dan Tearno, Senior Vice President and Chief Corporate Relations Officer for Heineken USA. "The company’s United States presence is a significant part of its history, its heritage and its success".
AkzoNobel also noted its commitment to the U.S. "A strong, vibrant relationship between the Netherlands and United States has - and will continue to be - vital to the long term success of our company," said Erik Bouts - managing director of AkzoNobel's U.S. Paints Business. "As the world's largest paints and coatings company, our U.S. interests are significant in terms of revenue generation, employee base and AkzoNobel shareholders. And recent announcements like becoming the primary paint supplier to Walmart's 3,500 U.S. stores with the Glidden brand provide not only near-term job creation, but more broadly, evidence that AkzoNobel has a bright future in the U.S."
Texas, California and Massachusetts benefiting the most from Dutch-American economic ties
Economic Ties between the USA and the Netherlands reveals interesting data on the role of the Netherlands as a contributor to the economic engine of every state. For example, while New York City ranks fifth for jobs supported by Dutch industry and exports to the Netherlands, it’s in first place of the American cities that trade with the Netherlands.
In Texas, Dutch foreign direct investment and Texas' exports to the Netherlands supported 100,062 jobs from 2008-2009. The more than 60,000 jobs supported in California are part of the Dutch foreign direct investments in the state that account for $5.8 billion or 5.3% of total FDI to California. The Netherlands are the fifth largest investor in California. Dutch ties support 51,410 jobs in Massachusetts, which is equal to 8% of the population of Boston. Massachusetts received $3 billion in Dutch foreign direct investments, which comprised 11.6% of total FDI to the state.
Economic Ties between the USA and the Netherlands: Allies in Open Markets for Mutual Prosperity
A report by the Royal Dutch Embassy in Washington, D.C.
http://www.economicties.org