SOURCE: USCIB

USCIB

May 04, 2009 14:46 ET

Are Multinationals Good for America? Get the Facts

NEW YORK, NY--(Marketwire - May 4, 2009) -


WHAT:       Briefing: How U.S. Multinationals Strengthen
            the Domestic Economy

WHO:        Matthew Slaughter, Tuck School of Business,
            Dartmouth
            Terry McGraw, CEO of The McGraw-Hill Companies
            Bill Parrett, chairman, United States Council
            for International Business

WHEN:       Thursday, May 14, 2009
            11:00 a.m. - 12:00 noon

WHERE:      Pillsbury Winthrop Shaw Pittman LLP
            1540 Broadway, New York City

MEDIA:      RSVP REQUIRED BY 5 PM, WEDNESDAY, MAY 13
            Contact Roya Bell, rbell@uscib.org or 212-703-5063

As the Obama administration pursues changes to the taxation of overseas earnings, it is important to examine the role of global companies in U.S. competitiveness. A new study published by the United States Council for International Business and the Business Roundtable concludes that, far from shipping jobs overseas, U.S. multinational companies make America's economy stronger.

"How U.S. Multinational Companies Strengthen the U.S. Economy," by Matthew J. Slaughter of the Tuck School of Business at Dartmouth, dispels many of the myths about America's global companies. At this timely briefing, Prof. Slaughter will discuss his findings with USCIB members and the media. Introduction and comments by Terry McGraw of The McGraw-Hill Companies and USCIB Chairman Bill Parrett.

The study presents compelling evidence that U.S. multinationals:

--  enhance the American economy through substantial capital investments,
    R&D expenditures and creation of high-quality jobs
--  highly concentrate their worldwide operations in their U.S. parents,
    not abroad in foreign affiliates
--  pay their average U.S. worker substantially more than the rest of the
    private sector
--  maintain overseas operations that tend to complement, not substitute
    for, key parent activities in the U.S., and concentrate these operations in
    other high-income countries.
    

The full text of Prof. Slaughter's paper is available at www.uscib.org/docs/foundation_multinationals.pdf. For comment on the policy implications of this study or to arrange an interview with the author, contact Jonathan Huneke (212-703-5043, jhuneke@uscib.org).

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

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