Koch Industries Economic Impact, Jobs Substantial in Georgia
Press release from the issuing company
Thursday, June 11th, 2015
In 2014, Koch companies in the United States directly employed about 60,000 people in 50 states and the District of Columbia, paying compensation and benefits totaling more than $5.3 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 more than 3,100 open roles within Koch companies, the nearly 7,000 contractors who work for Koch companies in the United States, or the 7,300 additional U.S.-based employees in companies affiliated with Koch.
“When we first conducted this study in 2010, Koch employed about 50,000 people in 46 states,” said Dave Robertson, president and COO of Koch Industries. “Since then, we’ve acquired several new companies and continued to invest in our businesses. As a result, we’ve added thousands of good jobs benefitting the hundreds of communities where we operate.”
Koch companies also buy goods and services from local businesses (indirect impacts), and their employees spend paychecks on food, shelter, entertainment and more (induced impacts). This combined spending translates to Koch companies supporting a total of more than 200,000 jobs and earnings of about $13 billion – an increase from $11.8 billion in 2013, Harrah Analytics determined in its study.
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The top 10 states in terms of jobs are: |
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| State | Direct Jobs | *Total Jobs | ||||||||
| TX | 7,615 | 36,462 | ||||||||
| GA | 6,930 | 26,575 | ||||||||
| KS | 3,558 | 7,410 | ||||||||
| AR | 3,427 | 8,621 | ||||||||
| WI | 2,946 | 10,356 | ||||||||
| AL | 2,632 | 12,429 | ||||||||
| SC | 2,377 | 8,435 | ||||||||
| FL | 2,147 | 8,426 | ||||||||
| OK | 2,131 | 7,018 | ||||||||
| LA | 2,017 | 8,032 | ||||||||
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* Summing the direct, indirect and induced impacts |
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The top 10 states in terms of compensation and benefits are: |
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| State | Direct Compensation | **Total Compensation | ||||||||
| TX | $774,556,862 | $2,361,916,206 | ||||||||
| GA | $774,367,535 | $1,879,519,471 | ||||||||
| KS | $451,877,719 | $716,452,216 | ||||||||
| IL | $277,372,258 | $644,267,626 | ||||||||
| AR | $256,867,582 | $529,724,152 | ||||||||
| AL | $247,063,939 | $708,879,296 | ||||||||
| WI | $239,229,388 | $571,599,039 | ||||||||
| FL | $192,946,732 | $471,861,120 | ||||||||
| OK | $176,662,138 | $415,995,527 | ||||||||
| LA | $170,333,247 | $449,699,736 | ||||||||
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** Summing the direct, indirect and induced impacts |
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The release of this study comes shortly after Koch’s announced decision to “ban the box” that asks about criminal history on its employment applications. The decision is part of the company’s larger effort to help reform the criminal justice system and provide opportunities for the disadvantaged.
“Koch is a large U.S.-based manufacturing company that employs 60,000 American workers and we recognize our role in providing opportunities for everyone,” said Mark Holden, General Counsel for Koch Industries. “As we continue to grow, we will continue to look at diversifying our workforce and providing those who are capable and qualified an opportunity to find meaningful employment.”
The complete study can be found at http://www.kochind.com/About_Koch/Job_Study.aspx.
