July 25, 2016
WICHITA, Kan. –– In 2015, Koch companies in the United States directly employed nearly 60,000 people in 50 states and the District of Columbia, paying compensation and benefits totaling more than $5.5 billion, according to a recent study by Harrah Analytics, an independent economic research firm.
Among the Koch companies included in the analysis are Wichita-based Koch Industries, Inc., Flint Hills Resources and INVISTA, Atlanta-based Georgia-Pacific, and Lisle, Illinois-based Molex Incorporated. The analysis does not include the nearly 7,800 contractors who work for Koch companies in the United States, nor the 7,000 additional U.S.-based employees of companies affiliated with Koch. It also does not include the 2,300 open roles currently available across Koch companies.
“Above all, Koch Industries is a capabilities-driven company whose success is shaped first and foremost by our employees,” said Dave Robertson, Koch’s president and COO. “By reinvesting 90 percent of earnings back into the business, Koch companies are creating high-quality jobs, making and improving products people rely on every day, and strengthening the communities in which we operate.”
Koch companies also buy goods and services from local businesses (indirect impacts), and Koch employees spend their earnings on food, housing, entertainment and more (induced impacts). This combined spending translates to Koch companies supporting a total of more than 200,000 jobs and compensation of nearly $13.5 billion – an increase from $13 billion in 2014, Harrah Analytics determined in its study.
The top 10 states in terms of jobs are:
* Summing the direct, indirect and induced impacts
The top 10 states in terms of compensation and benefits are:
** Summing the direct, indirect and induced impacts
“With 2,300 open roles spanning a variety of fields, such as engineering, IT, logistics, business, operations, maintenance and manufacturing, Koch companies are open for business and look forward to continuing a tremendous history of growth,” said Walt Malone, corporate director, human resources for Koch Industries. “Through 2016 and beyond, we will remain focused on attracting and retaining talented individuals with the right values who share Koch companies’ vision of producing products and providing services that help people improve their lives.”
The complete study can be found at http://www.kochind.com/files/2016_koch_companies_job_study.pdf
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Janet Harrah, president of Fort Thomas, Ky.-based Harrah Analytics, also serves as senior director of the Center for Economic Analysis and Development at Northern Kentucky University.
To determine the impact of jobs, compensation and benefits by Koch companies, Harrah Analytics began with direct U.S.-based employment and earnings numbers for Koch companies, using data supplied by Koch companies. The employment and earnings at each facility were assigned a Bureau of Economic Analysis industry code. These were multiplied by the industry direct effects multipliers, obtained from the U.S. Department of Commerce, Bureau of Economic Analysis, RIMS II (Regional Industrial Multiplier System) the standard measurement system in federal impact analyses.
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