LINCOLN, NEB. (May 12, 2008)—All Nebraska businesses are encouraged to celebrate the Invest in America Initiative, which promotes investing in the U.S. by highlighting the many advantages, and countering any misconceptions of potential investors. Invest in America is the brainchild of the U.S. Department of Commerce through the International Trade Administration.

“Hand’s down, our state has greatly benefited from those subsidiaries of foreign firms that have expanded here in terms of the numbers of people they employ, the outstanding wages they pay, the percentage of goods they export, the money they’ve spent on research and development, and how much of their profits they’ve reinvested here,” said Richard Baier, director of the Nebraska Department of Economic Development.

In 2007, there were 277 companies of foreign origin with facilities in Nebraska ranging from agriculture, banking and finance, insurance, manufacturing, pharmaceuticals, transportation, travel accommodations, and warehousing, among others.

Some of these corporations have benefited from the tax incentives available through the Nebraska Advantage Act.

“The Nebraska Advantage package has made a competitive difference in our economic landscape. Businesses using the credits are investing in our communities and people. The jobs and investment that this package offers impacts Nebraska’s rural and urban, small and large businesses across the board,” said Baier.

In mid-September, the state will hold its first reverse trade mission where interested foreign companies can learn more about opportunities here that include introductions to potential customers, sourcing companies, joint venture partners, and emerging technologies; and tours of companies specializing in alternative energy, distribution and logistics, medical and research, agriculture, finance and insurance, and information technologies.

Nationally, U.S. subsidiaries of foreign firms employ 5.1 million American workers, support an annual payroll of $324.5 billion, and pay on average 32 percent higher wages than U.S. firms. U.S. subsidiaries of foreign firms also account for 19 percent of total U.S. exports of goods ($153.9 billion), and in 2005 reinvested $59 billion of their profits back into the U.S. economy.

FOR INFORMATION CONTACT
Patty Wood at 800-426-6505, 402-471-1559, or email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it