Koch companies support US jobs

In 2014, Koch companies directly employed approximately 60 000 people in 50 US states and the District of Columbia, paying compensation and benefits totalling more than US$5.3 billion, according to a study by Harrah Analytics. The Koch companies in the analysis included 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 3100 open roles within Koch companies, the nearly 7000 contractors who work for Koch companies in the US, or the 7300 additional US 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 US$13 billion, an increase from US$11.8 billion in 2013, according to the study.

“Koch is a large US based manufacturing company that employs 60 000 American workers and we recognise 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.”

Adapted from press release by Rosalie Starling

Read the article online at: https://www.hydrocarbonengineering.com/refining/11062015/koch-companies-support-us-jobs-932/