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EMBARGOED UNTIL RELEASE AT 08:30 A.M. EDT, WEDNESDAY, JULY 13, 2016 Technical: Media: Thomas Anderson Amanda Budny Jeannine Aversa 301.278.9117 301.278.9154 301.278.9003 BEA 16-37 thomas.anderson@bea.gov amanda.budny@bea.gov jeannine.aversa@bea.gov New Foreign Direct Investment in the United States, 2014 and 2015 Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $420.7 billion in 2015, an increase of 68 percent from 2014, when expenditures were $250.6 billion. In 2015, as in 2014, the majority of the expenditures were to acquire existing businesses. In 2015, expenditures for acquisitions were $408.1 billion. Expenditures to establish new U.S. businesses were $11.2 billion, and expenditures to expand existing foreign-owned businesses were $1.4 billion. Planned total expenditures, which include both actual and planned future expenditures, totaled $439.2 billion. Billions $ New Investment by Foreign Direct Investors by Type, 1994-2015 450 400 350 300 Expansions* 250 Establishments 200 Acquisitions 150 100 50 0 *Expansions included in 2014 and 2015 only Bureau of Economic Analysis. Newly Available Statistics In conjunction with today’s release, BEA is introducing new statistics for 2014 and 2015 on the activities of newly acquired, established, or expanded U.S. affiliates by state, country, and industry. These new statistics supplement the statistics on expenditures for new investment and include current and planned employment and balance sheet and income statement items, specifically sales, net income, assets, liabilities, and total owner’s equity, for the affiliates. The statistics offer more detail, including state-level detail, than similar statistics BEA produced until 2008. The new statistics are available with the statistics on expenditures for new investment on BEA’s web site in the interactive tables. New investment expenditures include expenditures incurred by foreign direct investors and by existing U.S. affiliates of foreign direct investors. The portion of new investment expenditures provided by foreign direct investors is included in BEA’s statistics on foreign direct investment transactions. These expenditures contribute to the foreign direct investment position in the United States, which represents the accumulated total value of foreign direct investment, totaling $3.1 trillion (on a historical-cost basis) at yearend 2015. However, not all of the transactions that contribute to the foreign direct investment position are included in the statistics on new investment expenditures. The new investment data exclude disinvestment flows and other transactions between foreign direct investors and their U.S. affiliates that do not contribute to the acquisition, establishment, or expansion of a U.S. business. Expenditures by industry, country, and state Expenditures for new investment in manufacturing were $281.4 billion in 2015. As in 2014, manufacturing accounted for more than half of total new investment expenditures. Within manufacturing, expenditures were largest in chemicals, mostly in pharmaceuticals and medicines. There were also large expenditures in finance and insurance, in real estate and rental and leasing, and in professional, scientific, and technical services. By country of ultimate beneficial owner (UBO), the largest source country was Ireland, at $176.5 billion. There were also substantial expenditures from Canada and Germany. Of the eight largest countries in terms of foreign direct investment position in the United States—United Kingdom, Japan, Luxembourg, Netherlands, Canada, Switzerland, Germany, and France—six are also among the top eight countries for new foreign direct investment. By U.S. state, the largest expenditures, $119.0 billion, or 28 percent of the total, were for investments in California. Greenfield expenditures Greenfield investment expenditures—expenditures to either establish a new U.S. business or to expand an existing foreign-owned U.S. business—totaled $12.6 billion in 2015. In 2014, greenfield expenditures were $14.8 billion. Total planned greenfield expenditures for investment initiated in 2015, which include both first-year expenditures and planned spending in other years, totaled $31.2 billion. By industry, 2015 greenfield expenditures were largest in real estate and rental and leasing, at $6.2 billion, accounting for about half of total first-year greenfield expenditures. By U.S. state, New York -2- attracted the most expenditures for greenfield investment, $4.0 billion. There were also large greenfield investments in Pennsylvania and California. Employment by newly acquired, established, or expanded foreign-owned businesses In 2015, employment at newly acquired, established, or expanded foreign-owned businesses in the United States was 422,200. (Statistics on employment at expanded business only include employment at the expanded portion of the business.) Total planned employment, which includes current employment of acquired enterprises, the planned employment of newly established business enterprises once they are fully operating, and the planned employment associated with new facilities, was 461,600. Of these totals, the current employment of acquired enterprises was 418,000. By industry, manufacturing accounted for the largest number of 2015 employees, at 139,500. Employment was also substantial in administration, support, and waste management, and in retail trade. By country of UBO, the largest number of employees was accounted for by Canada and France. By U.S. state, the largest numbers of employees were in California and Arizona. Revisions This release updates preliminary data on expenditures for new foreign direct investment in the United States for 2014 that were released in November 2015. Revisions to 2014 Expenditures for New Foreign Direct Investment in the United States [Millions of dollars] Preliminary Revised 241,261 250,581 224,688 235,799 13,822 12,473 2,751 2,309 263,858 275,767 224,688 235,799 31,345 33,516 7,825 6,453 First-year expenditures Total U.S. businesses acquired U.S. businesses established U.S. businesses expanded Planned total expenditures Total U.S. businesses acquired U.S. businesses established U.S. businesses expanded -3- Resources Additional resources available at www.bea.gov: • Additional information on new foreign direct investment in the United States will be published next month in the Survey of Current Business. • BEA's interactive data application – including more data on the activities of the newly acquired, established, or expanded U.S. affiliates. These additional data include balance sheet and income statement items, specifically sales, net income, assets, liabilities, and total owner’s equity for the affiliates. • BEA's email subscription service • Twitter @BEA_News (or twitter.com/BEA_news) • BEA’s Data Application Programming Interface (API): http://www.bea.gov/API/signup/index.cfm • BEA’s news release schedule: http://www.bea.gov/newsreleases/2016rd.htm Additional Information The statistics of new investment by foreign direct investors are based on data reported in the Survey of New Foreign Direct Investment in the United States (BE-13) conducted by the Bureau of Economic Analysis (BEA). The survey covers U.S. business enterprises that were acquired, established, or expanded by foreign direct investors. Information on the filing requirements for the survey may be found at http://www.bea.gov/surveys/respondent_be13.htm. A U.S. business enterprise is categorized as “acquired” if a foreign entity acquires a 10 percent or more voting interest in an incorporated U.S. business enterprise, or an equivalent interest of an unincorporated U.S. business enterprise, either directly or indirectly through an existing U.S. affiliate. A U.S. affiliate is a foreign-owned U.S. business enterprise. A U.S. business enterprise is categorized as “established” if a foreign entity, or an existing U.S. affiliate of a foreign entity, establishes a new legal entity in the United States in which the foreign entity owns 10 percent or more of the new business enterprise’s voting interest, or an equivalent interest if unincorporated. An existing U.S. affiliate is categorized as “expanded” if it expands its operations to include a new facility where business is conducted. BEA reinstated the Survey of New Foreign Direct Investment in the United States in 2014 after ending the series after survey year 2008 due to budget cuts. The reinstated survey now includes expansions in an effort to better capture greenfield investments. Greenfield investment includes establishments of new companies by foreign investors and expansions of already existing companies. Because expansions were not included in the series that ended in 2008, the current series starting with 2014 is not directly comparable to the previous series ending in 2008. -4- The statistics of new foreign direct investment include transactions resulting from corporate inversions. A corporate inversion occurs when a domestic corporation that is currently the ultimate owner of its worldwide operations takes steps to become a subsidiary of a foreign corporation. A U.S. corporation can initiate an inversion either by creating a foreign corporation to be its new parent or by merging with an existing foreign corporation and ceding control. BEA’s direct investment surveys do not collect information on whether a U.S. corporation became foreign owned as a result of a corporate inversion; hence these transactions cannot be separately identified in the statistics based on the survey data alone. Using publicly available information, such as commercial databases and press reports, BEA estimates that newly inverted U.S. corporations account for approximately 20 percent of first-year expenditures for acquisitions in 2015. Following an inversion, the foreign parent of the inverted U.S. corporation may acquire additional U.S. businesses – either directly, or through the inverted U.S. corporation, or through other subsidiaries. The U.S. targets of these second round acquisitions might also be considered inverted U.S. corporations, but these transactions cannot be readily disentangled from other changes in the consolidated U.S. operations of the foreign parent. Therefore BEA has not attempted to identify the impact of these second round inversions on the statistics. The transactions associated with corporate inversions are also included in other BEA direct investment statistics. For additional information on how corporate inversions affect BEA’s economic accounts, see Jessica M. Hanson, Howard I. Krakower, Raymond J. Mataloni Jr., and Kate L.S. Pinard, “The Effects of Corporate Inversions on the International and National Economic Accounts” Survey of Current Business 95 (February 2015). Holding companies established by foreign direct investors solely for the purpose of acquiring or establishing at least one other U.S. business enterprise are excluded from the statistics on new foreign direct investment. A holding company is a company whose primary activity is holding the securities or financial assets of other companies. However, acquisitions or establishments that are undertaken by a foreign-owned U.S. holding company are included in the statistics. In addition, the statistics on new investments do not cover the acquisition of additional equity by a foreign parent in an existing U.S. affiliate, the acquisition of an existing U.S. affiliate by one foreign investor from another or the expansion of an existing U.S. affiliate when no new operation or facilities are established. Sales of parts or all of the U.S. affiliate or other disinvestments are not subtracted from new investments. -5- Table 1.1. First Year Expenditures and Planned Total Expenditures for Investments Initiated in 2014, Industry of Affiliate by Type of Investment [Millions of dollars] All industries Manufacturing Food Beverages and tobacco products Paper Petroleum and coal products Chemicals Basic chemicals Pharmaceuticals and medicines Other Plastics and rubber products Nonmetallic mineral products Primary and fabricated metals Primary metals Fabricated metal products Machinery Total (1) 250,581 First year expenditures 1 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 235,799 12,473 2,309 Total (5) 275,767 Planned total expenditures 2 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) 235,799 33,516 6,453 136,310 133,181 1,595 1,535 144,574 133,181 6,581 4,812 6,277 (D) 682 0 5,882 (D) (D) 0 240 0 1 0 155 0 (D) 0 6,526 (D) (D) 0 5,882 (D) (D) 0 (D) 0 (D) 0 (D) 0 (D) 0 74,724 1,273 71,584 1,867 74,032 (D) (D) 1,263 202 (*) (D) (D) 490 (D) (*) (D) 75,220 (D) (D) 2,276 74,032 (D) (D) 1,263 (D) (D) (D) (D) (D) (D) (*) (D) 5,084 1,265 2,886 2,185 702 4,824 (D) 2,222 (D) (D) 253 (D) 210 184 26 8 0 454 (D) (D) 6,546 (D) 3,804 3,082 723 4,824 (D) 2,222 (D) (D) (D) (D) 382 (D) (D) (D) 0 1,201 (D) (D) 1,979 1,936 19 24 (D) 1,936 26 (D) 12,950 (D) 141 (D) 12,908 (D) (D) (D) 39 4 (D) (D) 3 3 0 (*) 12,951 (D) 141 (D) 12,908 (D) (D) (D) 39 4 (D) (D) 3 3 0 (*) Electrical equipment, appliances, and components Transportation equipment Motor vehicles, bodies and trailers, and parts Other Other 3,839 1,980 1,714 266 (D) 3,791 1,704 1,457 247 (D) (D) 133 133 (*) (D) (D) 143 125 19 (D) (D) 3,871 3,515 356 (D) 3,791 1,704 1,457 247 (D) (D) 372 370 2 510 (D) 1,795 1,688 107 (D) Wholesale trade Motor vehicles and motor vehicle parts and supplies Electrical goods Petroleum and petroleum products Other 4,607 19 522 (D) (D) 4,494 (D) 516 (D) (D) 63 7 6 (*) 50 50 (D) 0 0 (D) 5,136 19 522 (D) (D) 4,494 (D) 516 (D) (D) (D) 7 6 (D) (D) (D) (D) 0 0 395 Retail trade Food and beverage stores Other 14,670 (D) (D) 14,633 (D) (D) (D) (*) (D) (D) 0 (D) 14,696 (D) (D) 14,633 (D) (D) (D) (*) (D) (D) 0 (D) Information Publishing industries Telecommunications Other 20,878 14,425 689 5,764 20,524 14,411 688 5,424 296 13 (*) 282 59 (*) 0 58 21,220 14,425 689 6,106 20,524 14,411 688 5,424 (D) 13 (*) (D) (D) (*) 0 (D) 8,490 83 4,714 3,693 7,024 (D) 3,736 (D) 1,354 7 (D) (D) 112 (D) (D) (D) 8,947 83 (D) (D) 7,024 (D) 3,736 (D) (D) 7 1,051 (D) (D) (D) (D) (D) 23,202 12,098 11,104 18,699 7,832 10,868 4,342 (D) (D) 161 (D) (D) 32,982 (D) (D) 18,699 7,832 10,868 14,030 (D) (D) 252 (D) (D) 8,986 532 1,323 436 6,695 8,879 522 1,297 430 6,629 88 2 (D) 6 (D) 19 8 (D) 0 (D) 9,046 (D) (D) 436 (D) 8,879 522 1,297 430 6,629 (D) 2 (D) 6 (D) (D) (D) 1 0 (D) Other industries 33,438 Mining 12,953 Utilities 7,004 Construction 383 Transportation and warehousing 3,603 Administration, support, and waste management 2,595 Health care and social assistance 1,254 Accommodation and food services 797 Other 4,848 (*) Less than +/- $500,000. D Suppressed to avoid disclosure of data on individual companies. 28,365 11,515 6,210 166 3,457 2,496 1,249 785 2,488 (D) 1,291 (D) (D) 19 (D) (D) 11 2,341 (D) 148 (D) (D) 127 (D) (D) 2 19 39,166 (D) 10,007 916 3,712 (D) (D) 797 5,177 28,365 11,515 6,210 166 3,457 2,496 1,249 785 2,488 10,265 (D) (D) (D) (D) (D) (D) 11 (D) 535 (D) (D) (D) (D) (D) (D) 2 (D) Computers and electronic products Semiconductors and other electronic components Navigational, measuring, and other instruments Other Finance and insurance Depository credit intermediation (banking) Finance, except depository institutions Insurance carriers and related activities Real estate and rental and leasing Real estate Rental and leasing (except real estate) Professional, scientific, and technical services Architectural, engineering, and related services Computer systems design and related services Management, scientific, and technical consulting Other 1. First year expenditures include expenditures in the year in which the transaction occurred. 2. Planned total expenditures include first year expenditures for all investments plus planned future expenditures (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first year expenditures and planned total expenditures are the same. -6- Table 1.2. First Year Expenditures and Planned Total Expenditures for Investments Initiated in 2015, Industry of Affiliate by Type of Investment [Millions of dollars] All industries Manufacturing Food Beverages and tobacco products Paper Petroleum and coal products Chemicals Basic chemicals Pharmaceuticals and medicines Other Plastics and rubber products Nonmetallic mineral products Primary and fabricated metals Primary metals Fabricated metal products Machinery Total (1) 420,691 First year expenditures 1 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 408,056 11,249 1,387 Total (5) 439,209 Planned total expenditures 2 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) 408,056 24,509 6,644 281,410 280,234 458 718 287,294 280,234 1,843 5,218 3,160 673 436 0 3,089 (D) (D) 0 (D) 1 (D) 0 (D) (D) 78 0 (D) 673 (D) 0 3,089 (D) (D) 0 (D) 1 (D) 0 (D) (D) (D) 0 150,288 (D) 122,060 (D) 149,884 (D) 122,043 (D) 107 3 (D) (D) 298 274 (D) (D) 154,400 (D) (D) (D) 149,884 (D) 122,043 (D) 538 (D) (D) (D) 3,978 (D) (D) (D) 3,811 (D) 4,735 4,614 121 3,566 (D) 4,713 (D) (D) (D) (D) (D) 5 (D) (D) 0 (D) (D) (D) 3,896 (D) (D) (D) (D) 3,566 (D) 4,713 (D) (D) (D) (D) (D) (D) (D) (D) 0 (D) 7 (D) (D) (D) 5 26 (D) (D) 5 27 Computers and electronic products Semiconductors and other electronic components Navigational, measuring, and other instruments Other 5,461 (D) (D) 1,000 5,452 (D) (D) 993 (*) (*) (*) (*) 8 1 0 7 5,461 (D) (D) 1,000 5,452 (D) (D) 993 (*) (*) (*) (*) 8 1 0 7 Electrical equipment, appliances, and components Transportation equipment Motor vehicles, bodies and trailers, and parts Other Other 3,180 (D) (D) 656 (D) 3,176 (D) (D) 633 (D) (D) 37 (D) (D) 73 (D) 130 (D) (D) 32 (D) 14,370 (D) (D) (D) 3,176 (D) (D) 633 (D) (D) (D) (D) (D) 137 (D) 381 (D) (D) 139 Wholesale trade Motor vehicles and motor vehicle parts and supplies Electrical goods Petroleum and petroleum products Other 2,009 (D) 27 3 (D) 1,825 (D) (D) 0 (D) 96 12 (D) (*) (D) 88 6 (*) 3 78 2,170 (D) 27 4 (D) 1,825 (D) (D) 0 (D) (D) 12 (D) (*) (D) (D) 9 (*) 4 (D) Retail trade Food and beverage stores Other 10,687 (D) (D) 10,618 (D) (D) 69 1 68 (*) 0 (*) 10,687 (D) (D) 10,618 (D) (D) 69 1 68 (*) 0 (*) Information Publishing industries Telecommunications Other 11,258 6,042 774 4,442 10,969 6,031 (D) (D) 215 (D) (D) (D) 74 (D) 0 (D) 11,592 (D) 774 (D) 10,969 6,031 (D) (D) (D) (D) (D) (D) (D) (D) 0 (D) Finance and insurance Depository credit intermediation (banking) Finance, except depository institutions Insurance carriers and related activities 44,420 (D) 23,203 (D) 41,811 (D) (D) 14,726 2,598 6 (D) (D) 11 3 3 5 44,668 (D) 23,447 (D) 41,811 (D) (D) 14,726 2,842 6 (D) (D) 14 4 3 7 Real estate and rental and leasing Real estate Rental and leasing (except real estate) 34,043 (D) (D) 27,877 (D) (D) 6,050 (D) (D) 116 (D) (D) 43,063 (D) (D) 27,877 (D) (D) (D) (D) (D) (D) (D) (D) Professional, scientific, and technical services Architectural, engineering, and related services Computer systems design and related services Management, scientific, and technical consulting Other 20,350 397 10,696 (D) (D) 20,287 394 10,678 (D) (D) 50 3 14 2 32 13 0 4 0 9 20,414 397 10,696 903 8,418 20,287 394 10,678 (D) (D) (D) 3 14 (D) (D) (D) 0 4 0 (D) Other industries 16,515 Mining 312 Utilities 2,674 Construction 274 Transportation and warehousing 1,954 Administration, support, and waste management 2,753 Health care and social assistance 1,794 Accommodation and food services 1,613 Other 5,140 (*) Less than +/- $500,000. D Suppressed to avoid disclosure of data on individual companies. 14,435 (D) 2,220 264 1,906 2,736 (D) (D) 3,656 1,713 13 (D) 10 22 9 4 43 (D) 367 (D) (D) 0 26 9 (D) (D) (D) 19,322 (D) 3,063 278 1,954 2,757 (D) (D) 6,136 14,435 (D) 2,220 264 1,906 2,736 (D) (D) 3,656 (D) (D) 165 14 22 (D) (D) (D) 2,441 (D) (D) 678 0 26 (D) (D) (D) 40 1. First year expenditures include expenditures in the year in which the transaction occurred. 2. Planned total expenditures include first year expenditures for all investments plus planned future expenditures (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first year expenditures and planned total expenditures are the same. -7- 1 Table 2.1. First Year Expenditures and Planned Total Expenditures for Investments Initiated in 2014, Country of UBO by Type of Investment [Millions of dollars] All countries Canada Total (1) 250,581 First year expenditures 2 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 235,799 12,473 2,309 Total (5) 275,767 Planned total expenditures 3 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired expanded established (6) (7) (8) 235,799 33,516 6,453 31,331 27,854 2,699 778 33,544 27,854 4,168 1,521 144,736 658 784 260 5,658 140,922 610 763 (D) 5,317 3,229 48 (D) 1 337 585 0 (D) (D) 4 150,385 (D) 799 (D) 7,259 140,922 610 763 (D) 5,317 7,044 (D) (D) 1 (D) 2,420 0 (D) (D) (D) Germany Ireland Italy Netherlands 28,515 43,563 600 8,739 28,059 43,491 467 8,341 340 3 110 363 116 69 24 34 29,721 43,563 675 8,989 28,059 43,491 467 8,341 441 3 (D) (D) 1,222 69 (D) (D) Spain Sweden Switzerland United Kingdom Other 1,200 1,646 16,189 21,344 15,579 1,155 1,644 15,729 20,061 (D) 46 3 385 1,150 (D) (*) 0 76 133 41 (D) 1,646 16,240 23,231 15,849 1,155 1,644 15,729 20,061 (D) (D) 3 (D) 2,885 448 (*) 0 (D) 285 (D) 12,579 11,788 750 40 12,765 11,788 (D) (D) 1,832 (D) 982 (*) (D) 1,716 1 (D) 0 (D) (D) (D) 12 (*) (D) (D) 0 (D) 0 (D) (D) (D) (D) (*) 848 1,716 1 (D) 0 (D) (D) (D) 12 (*) (D) (D) 0 (D) 0 (D) 10,747 3,516 6,858 373 10,072 3,440 6,264 368 (D) 76 590 (D) (D) 1 4 (D) (D) (D) (D) 373 10,072 3,440 6,264 368 (D) (D) (D) (D) (D) 1 4 (D) 95 (D) (D) (D) 6 (D) (D) (D) (D) 0 0 0 95 (D) (D) (D) 6 (D) (D) (D) (D) 0 0 0 1,910 739 209 407 556 1,647 (D) (D) 407 (D) 154 (D) (D) (*) (D) 110 1 109 0 0 2,207 (D) 246 407 (D) 1,647 (D) (D) 407 (D) (D) (D) (D) (*) (D) (D) 1 (D) 0 0 53,685 2,710 3,476 6,921 468 29,343 2,399 8,110 32 228 47,738 2,660 2,208 6,877 78 26,642 1,027 8,024 (D) (D) 5,164 47 (D) 44 390 2,385 (D) 86 (D) (D) 783 2 (D) 0 0 316 (D) 0 3 (*) 70,305 2,726 13,112 (D) (D) 33,512 4,619 (D) 34 228 47,738 2,660 2,208 6,877 78 26,642 1,027 8,024 (D) (D) 20,254 63 (D) (D) (D) 5,777 (D) (D) (D) (D) 2,313 2 (D) 0 0 1,094 (D) 0 3 (*) Europe Belgium Denmark Finland France Latin America and Other Western Hemisphere South and Central America Brazil Mexico Venezuela Other Other Western Hemisphere Bermuda United Kingdom Islands, Caribbean 4 Other Africa South Africa Other Middle East Israel Saudi Arabia United Arab Emirates Other Asia and Pacific Australia China Hong Kong India Japan Korea, Republic of Singapore Taiwan Other (D) (D) (D) (D) United States 5 6,244 12 6,466 12 (*) Less than +/- $500,000. D Suppressed to avoid disclosure of data on individual companies. 1. The Ultimate Beneficial Owner (UBO) is the entity, proceeding up the foreign ownership chain, which is not more than 50 percent owned by another entity. The UBO is the entity that ultimately owns or controls and thus ultimately derives the benefits and assumes the risks from owning or controlling an affiliate. 2. First year expenditures include expenditures in the year in which the transaction occurred. 3. Planned total expenditures include first year expenditures for all investments plus planned future expenditures (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first year expenditures and planned total expenditures are the same. 4. The "United Kingdom Islands, Caribbean" consists of the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands. 5. The United States is the country of ultimate beneficial owner for businesses newly acquired, established, or expanded by foreign investors that are ultimately owned by persons located in the United States. -8- 1 Table 2.2. First Year Expenditures and Planned Total Expenditures for Investments Initiated in 2015, Country of UBO by Type of Investment [Millions of dollars] All countries Canada Europe Belgium Denmark Finland France Germany Ireland Italy Netherlands Spain Sweden Switzerland United Kingdom Other Latin America and Other Western Hemisphere South and Central America Brazil Mexico Venezuela Other Other Western Hemisphere Bermuda United Kingdom Islands, Caribbean 4 Other Africa South Africa Other Middle East Israel Saudi Arabia United Arab Emirates Other Asia and Pacific Australia China Hong Kong India Japan Korea, Republic of Singapore Taiwan Other Total (1) 420,691 First year expenditures 2 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 408,056 11,249 1,387 Total (5) 439,209 Planned total expenditures 3 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired expanded established (6) (7) (8) 408,056 24,509 6,644 84,938 83,692 933 313 89,754 83,692 5,409 653 284,807 (D) 154 9 12,744 279,274 (D) 154 (D) 12,652 4,987 1 1 (D) 44 546 6 0 0 48 288,100 (D) 154 9 (D) 279,274 (D) 154 (D) 12,652 7,661 1 1 (D) 44 1,165 (D) 0 0 (D) 47,000 176,480 (D) 6,515 45,522 176,401 (D) (D) 1,422 80 131 (D) 56 0 (D) 3 47,172 176,480 6,799 (D) 45,522 176,401 (D) (D) 1,491 80 (D) (D) 159 0 (D) 3 1,104 1,296 3,975 19,796 3,107 1,090 1,290 3,838 19,545 856 10 5 52 200 (D) 4 (*) 84 51 (D) (D) 1,296 4,130 (D) (D) 1,090 1,290 3,838 19,545 856 (D) 5 (D) (D) (D) 4 (*) (D) 90 (D) 3,298 3,027 241 30 3,483 3,027 (D) (D) 241 117 67 (*) 57 122 (D) 1 (*) (D) (D) (D) 57 (*) 41 (D) 0 9 0 (D) (D) 234 84 (*) (D) 122 (D) 1 (*) (D) (D) 20 (D) (*) (D) 133 (D) (D) 0 (D) 3,056 (D) 1,840 (D) 2,905 1,108 1,796 0 (D) (D) 36 (D) (D) 0 8 (D) (D) (D) (D) (D) 2,905 1,108 1,796 0 (D) (D) (D) (D) (D) 0 8 (D) (D) (D) (D) (D) (D) 85 3 (D) (D) 0 0 0 490 (D) (D) (D) (D) 85 (D) 4 (D) 0 0 0 5,858 (D) 54 (D) 708 (D) (D) (D) (D) (D) (D) 11 (*) 1 (D) (D) 2 (D) (*) (D) (D) (D) 54 (D) (D) (D) (D) (D) (D) (D) (D) 11 (*) 1 (D) (D) 5 (D) (*) (D) 40,405 (D) 7,038 1,162 585 26,923 481 2,224 61 (D) 34,972 (D) 5,845 (D) 569 23,806 473 1,515 59 (D) 5,026 69 (D) (D) (D) 2,855 (D) 708 (D) (D) 406 (D) (D) (D) (D) 262 (D) 0 (D) (D) 49,481 1,830 12,303 1,189 (D) 30,427 (D) 2,224 63 202 34,972 (D) 5,845 (D) 569 23,806 473 1,515 59 (D) 11,062 (D) (D) (D) (D) 5,839 (D) 709 (D) (D) 3,447 (D) (D) (D) (D) 781 (D) 0 (D) (D) United States 5 (D) (D) (D) (D) (D) (D) (D) (D) (*) Less than +/- $500,000. D Suppressed to avoid disclosure of data on individual companies. 1. The Ultimate Beneficial Owner (UBO) is the entity, proceeding up the foreign ownership chain, which is not more than 50 percent owned by another entity. The UBO is the entity that ultimately owns or controls and thus ultimately derives the benefits and assumes the risks from owning or controlling an affiliate. 2. First year expenditures include expenditures in the year in which the transaction occurred. 3. Planned total expenditures include first year expenditures for all investments plus planned future expenditures (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first year expenditures and planned total expenditures are the same. 4. The "United Kingdom Islands, Caribbean" consists of the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands. 5. The United States is the country of ultimate beneficial owner for businesses newly acquired, established, or expanded by foreign investors that are ultimately owned by persons located in the United States. -9- 1 Table 3.1. First Year Expenditures and Planned Total Expenditures for Investments Initiated in 2014, State by Type of Investment [Millions of dollars] Total New England: Connecticut Maine Massachusetts New Hampshire Rhode Island Vermont Total (1) 250,581 First year expenditures 2 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 235,799 12,473 2,309 Total (5) 275,767 Planned total expenditures 3 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) 235,799 33,516 6,453 1,501 (D) 7,723 (D) 805 (D) (D) (D) 6,417 (D) (D) (D) (D) 0 (D) 0 0 0 0 0 (D) 0 (D) 0 1,506 (D) 7,770 (D) 805 (D) (D) (D) 6,417 (D) (D) (D) (D) 0 (D) 0 0 0 0 0 (D) 0 (D) 0 Mideast: Delaware District of Columbia Maryland New Jersey New York Pennsylvania 1,680 911 3,136 17,887 36,073 7,635 633 695 3,002 17,658 (D) 7,609 1,044 216 (D) (D) (D) 24 4 0 (D) (D) 100 2 1,986 1,184 3,148 18,895 39,347 7,639 633 695 3,002 17,658 (D) 7,609 (D) 489 (D) (D) (D) 24 (D) 0 (D) (D) (D) 6 Great Lakes: Illinois Indiana Michigan Ohio Wisconsin 23,350 1,701 2,320 2,194 2,379 23,083 1,530 2,158 1,855 2,365 240 103 83 (D) (D) 27 67 78 (D) (D) (D) 2,302 2,575 2,769 2,380 23,083 1,530 2,158 1,855 2,365 (D) (D) 257 754 (D) (D) (D) 159 160 (D) Plains: Iowa Kansas Minnesota Missouri Nebraska North Dakota South Dakota (D) 287 2,659 2,317 (D) 308 (D) (D) (D) (D) 2,122 (D) (D) (D) (D) (D) (D) 196 0 (D) 0 0 0 2 0 (D) 4 0 (D) 287 2,659 2,317 (D) (D) (D) (D) (D) (D) 2,122 (D) (D) (D) (D) (D) (D) 196 0 (D) 0 0 0 2 0 (D) 4 0 Southeast: Alabama Arkansas Florida Georgia Kentucky Louisiana Mississippi North Carolina South Carolina Tennessee Virginia West Virginia 683 49 3,924 1,747 (D) 645 204 3,771 597 497 3,554 5 (D) (D) 3,792 922 (D) 197 (D) 3,642 563 378 (D) 5 (D) (*) 85 732 (D) (D) (D) (D) (D) (D) (D) 0 8 (D) 47 93 (D) (D) (D) (D) (D) (D) 1 0 (D) (D) 4,046 2,464 (D) (D) (D) 3,936 (D) 2,261 (D) 5 (D) (D) 3,792 922 (D) 197 (D) 3,642 563 378 (D) 5 (D) 2 (D) 1,324 (D) (D) (D) (D) (D) (D) (D) 0 (D) (D) (D) 218 (D) (D) (D) (D) (D) (D) (D) 0 (D) 98 1,968 20,314 (D) (D) (D) 18,266 (D) 1 (D) 983 (D) (D) 0 1,066 (D) (D) 1,968 23,562 (D) (D) (D) 18,266 (D) (D) (D) 3,046 (D) (D) 0 2,250 3,532 3 (D) (D) 20 3,495 0 (D) (D) (D) (D) 3 0 0 (D) (D) 0 0 (D) 0 3,646 3 (D) (D) 20 3,495 0 (D) (D) (D) (D) 3 0 0 (D) (D) 0 0 (D) 0 (D) 49,700 261 243 656 16,535 (D) 46,890 74 193 (D) 16,299 0 2,737 187 (D) 0 234 0 74 0 (D) (D) 2 (D) 55,868 490 (D) (D) 16,836 (D) 46,890 74 193 (D) 16,299 0 8,671 416 (D) 0 (D) 0 307 0 (D) (D) (D) (*) 0 (*) 0 (D) 0 (D) 0 0 0 0 0 0 0 0 0 Southwest: Arizona New Mexico Oklahoma Texas Rocky Mountains: Colorado Idaho Montana Utah Wyoming Far West: Alaska California Hawaii Nevada Oregon Washington Puerto Rico Other U.S. areas 4 Unspecified 5 1,041 364 587 91 1,041 364 587 91 (*) Less than +/- $500,000. D Suppressed to avoid disclosure of data on individual companies. 1. Statistics are shown for the state in which the newly acquired, established, or expanded U.S. business enterprise is located. If the U.S. business enterprise operates in more than one state; it is the state where the largest number of employees are based; if there are no employees it is the state of incorporation of the U.S. business enterprise. 2. First year expenditures include expenditures in the year in which the transaction occurred. 3. Planned total expenditures include first year expenditures for all investments plus planned future expenditures (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first year expenditures and planned total expenditures are the same. 4. "Other U.S. areas" consists of the U.S. Virgin Islands, Guam, American Samoa, and all other outlying U.S. areas. 5. For U.S. business enterprises with transaction costs below $3 million information on the state of location is not collected. - 10 - 1 Table 3.2. First Year Expenditures and Planned Total Expenditures for Investments Initiated in 2015, State by Type of Investment [Millions of dollars] Total New England: Connecticut Maine Massachusetts New Hampshire Rhode Island Vermont Total (1) 420,691 First year expenditures 2 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 408,056 11,249 1,387 Total (5) 439,209 Planned total expenditures 3 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) 408,056 24,509 6,644 727 115 6,821 (D) 0 (D) (D) 115 (D) (D) 0 (D) (D) 0 (D) 0 0 0 3 0 (D) 0 0 0 729 115 (D) (D) 0 (D) (D) 115 (D) (D) 0 (D) (D) 0 (D) 0 0 0 3 0 19 0 0 0 Mideast: Delaware District of Columbia Maryland New Jersey New York Pennsylvania 842 (D) 1,166 18,274 21,386 7,317 349 (D) (D) (D) 17,423 5,397 (D) (D) (D) (D) 3,963 1,896 (D) 0 0 4 (*) 24 1,230 (D) 1,166 (D) 23,875 7,388 349 (D) (D) (D) 17,423 5,397 (D) (D) (D) (D) 6,450 (D) (D) 0 0 (D) 2 (D) Great Lakes: Illinois Indiana Michigan Ohio Wisconsin 22,697 1,263 (D) 7,742 1,850 22,663 (D) (D) 7,684 (D) (D) (D) 2 (D) (D) (D) (D) (D) (D) 0 (D) 1,419 (D) 7,866 1,850 22,663 (D) (D) 7,684 (D) (D) 149 (D) (D) (D) (D) (D) (D) (D) 0 (D) (D) (D) (D) (D) 36 (D) (D) (D) (D) (D) (D) 23 (D) (*) 0 0 (D) 0 0 0 (*) 5 (D) (D) 0 13 0 696 (D) (D) (D) (D) 67 (D) (D) (D) (D) (D) (D) 23 (D) (D) 0 0 (D) 0 (D) 0 (*) 9 (D) (D) 0 (D) 0 Southeast: Alabama Arkansas Florida Georgia Kentucky Louisiana Mississippi North Carolina South Carolina Tennessee Virginia West Virginia 7,554 171 5,713 1,025 (D) 1,035 37 23,151 162 1,200 1,046 (D) 7,527 (D) (D) 827 (D) (D) 0 23,083 103 (D) 1,046 (D) (D) 0 (D) 192 (*) (D) (D) 39 (D) 33 (*) 0 (D) (D) (D) 6 (D) (D) (D) 29 (D) (D) 0 0 (D) 175 (D) 1,149 451 (D) 195 23,440 859 1,558 1,046 (D) 7,527 (D) (D) 827 (D) (D) 0 23,083 103 (D) 1,046 (D) (D) 0 (D) (D) (D) (D) (D) (D) (D) 67 (*) 0 (D) (D) (D) (D) (D) (D) (D) (D) (D) (D) 0 0 Southwest: Arizona New Mexico Oklahoma Texas (D) 0 (D) 29,547 (D) 0 (D) 28,966 (D) 0 0 438 (D) 0 0 143 (D) 0 (D) 33,017 (D) 0 (D) 28,966 (D) 0 0 2,380 (D) 0 0 1,671 314 0 0 92 (D) 172 0 0 92 (D) (D) 0 0 0 0 (D) 0 0 0 0 530 0 0 92 (D) 172 0 0 92 (D) (D) 0 0 0 0 (D) 0 0 0 0 (D) 119,019 510 (D) 1,016 964 (D) 117,475 (D) (D) (D) 752 0 1,277 (D) (D) 0 (D) 0 266 0 5 (D) (D) (D) 119,825 (D) (D) 1,016 1,708 (D) 117,475 (D) (D) (D) 752 0 1,947 (D) 62 0 (D) 0 403 0 5 (D) (D) (D) 0 (D) 0 (D) 0 (D) 0 0 0 0 0 0 0 0 0 Plains: Iowa Kansas Minnesota Missouri Nebraska North Dakota South Dakota Rocky Mountains: Colorado Idaho Montana Utah Wyoming Far West: Alaska California Hawaii Nevada Oregon Washington Puerto Rico Other U.S. areas 4 Unspecified 5 570 137 351 82 570 137 351 82 (*) Less than +/- $500,000. D Suppressed to avoid disclosure of data on individual companies. 1. Statistics are shown for the state in which the newly acquired, established, or expanded U.S. business enterprise is located. If the U.S. business enterprise operates in more than one state; it is the state where the largest number of employees are based; if there are no employees it is the state of incorporation of the U.S. business enterprise. 2. First year expenditures include expenditures in the year in which the transaction occurred. 3. Planned total expenditures include first year expenditures for all investments plus planned future expenditures (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first year expenditures and planned total expenditures are the same. 4. "Other U.S. areas" consists of the U.S. Virgin Islands, Guam, American Samoa, and all other outlying U.S. areas. 5. For U.S. business enterprises with transaction costs below $3 million information on the state of location is not collected. - 11 - Table 4.1. Current and Planned Employment 1 of U.S. Businesses Acquired, Established, and Expanded in 2014, Industry of Affiliate by Type of Investment [Thousands of employees] 2 All industries Manufacturing Total (1) 734.0 Current employment By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 719.3 8.6 6.1 Total (5) 760.3 Planned employment 3 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) 719.3 21.5 19.5 113.5 105.2 3.9 4.4 133.1 105.2 12.9 14.9 Food Beverages and tobacco products Paper Petroleum and coal products 16.7 I 4.3 0.0 15.4 I 4.1 0.0 0.5 0.0 (*) 0.0 0.8 0.0 0.2 0.0 17.2 I 6.6 0.0 15.4 I 4.1 0.0 0.5 0.0 G 0.0 1.3 0.0 F 0.0 Chemicals Basic chemicals Pharmaceuticals and medicines Other 16.3 1.5 12.5 2.3 16.1 1.5 12.5 2.0 0.1 0.0 (*) 0.1 0.1 (*) (*) 0.1 17.0 1.9 12.8 2.3 16.1 1.5 12.5 2.0 0.8 0.4 0.2 0.2 0.2 (*) (*) 0.2 6.2 3.0 5.9 1.3 4.6 6.0 G 5.4 1.1 4.3 0.2 F 0.2 0.1 0.1 (*) 0.0 0.4 0.1 0.3 9.6 H 7.1 2.3 4.8 6.0 G 5.4 1.1 4.3 3.4 G 0.6 0.5 0.1 0.2 0.0 1.2 0.8 0.4 Plastics and rubber products Nonmetallic mineral products Primary and fabricated metals Primary metals Fabricated metal products Machinery 4.8 4.8 (*) (*) 5.0 4.8 0.1 0.1 Computers and electronic products Semiconductors and other electronic components Navigational, measuring, and other instruments Other 11.8 6.2 0.3 5.2 11.6 6.2 0.2 5.2 0.1 (*) (*) 0.1 0.0 0.0 0.0 0.0 11.8 6.2 0.3 5.3 11.6 6.2 0.2 5.2 0.2 (*) 0.1 0.1 (*) 0.0 0.0 (*) Electrical equipment, appliances, and components Transportation equipment Motor vehicles, bodies and trailers, and parts Other Other 4.9 21.0 19.8 1.2 J 4.7 17.2 16.3 0.9 11.6 0.2 1.3 1.3 (*) A (*) 2.4 2.2 0.2 0.4 5.0 28.0 26.3 1.6 J 4.7 17.2 16.3 0.9 11.6 0.2 1.8 1.7 0.1 G 0.1 8.9 8.3 0.6 G Wholesale trade Motor vehicles and motor vehicle parts and supplies Electrical goods Petroleum and petroleum products Other 8.4 0.1 0.6 0.4 7.3 8.0 0.1 0.5 0.4 7.0 0.2 0.0 (*) (*) 0.1 0.2 (*) 0.0 0.0 0.2 8.9 0.2 0.6 0.4 7.8 8.0 0.1 0.5 0.4 7.0 0.4 (*) (*) (*) 0.3 0.5 (*) 0.0 0.0 0.5 293.0 K M 292.4 K M 0.4 0.0 0.4 0.3 0.0 0.3 293.3 K M 292.4 K M 0.5 (*) 0.5 0.4 0.0 0.4 18.6 11.4 1.3 5.9 18.3 11.4 1.3 5.6 0.2 0.0 0.0 0.2 0.1 0.0 0.0 0.1 19.9 11.6 1.3 7.0 18.3 11.4 1.3 5.6 1.2 0.1 (*) 1.1 0.3 (*) 0.0 0.3 Finance and insurance Depository credit intermediation (banking) Finance, except depository institutions Insurance carriers and related activities 9.9 0.2 2.5 7.2 9.6 0.1 2.4 7.1 0.1 (*) (*) (*) 0.2 0.2 (*) (*) 10.3 0.3 2.8 7.2 9.6 0.1 2.4 7.1 0.4 (*) 0.4 0.1 0.3 0.2 (*) (*) Real estate and rental and leasing Real estate Rental and leasing (except real estate) 8.4 0.8 7.6 7.8 F I 0.1 A A 0.5 A A 9.1 1.5 7.6 7.8 F I 0.7 F A 0.7 A A 24.6 1.4 4.4 2.2 16.5 24.3 1.4 4.3 2.2 16.3 0.2 0.0 (*) 0.0 0.2 0.1 0.0 0.1 0.0 (*) 26.2 2.2 4.8 2.3 16.8 24.3 1.4 4.3 2.2 16.3 0.8 (*) 0.3 0.1 0.4 1.1 0.8 0.3 0.0 0.1 Retail trade Food and beverage stores Other Information Publishing industries Telecommunications Other Professional, scientific, and technical services Architectural, engineering, and related services Computer systems design and related services Management, scientific, and technical consulting Other Other industries 257.7 253.6 3.7 0.4 259.6 253.6 4.7 1.3 Mining 2.0 1.6 0.3 0.1 2.2 1.6 0.4 0.2 Utilities 2.5 G 0.1 A 2.5 G A A Construction 1.0 1.0 (*) 0.0 1.0 1.0 (*) 0.0 Transportation and warehousing 12.9 12.8 (*) 0.1 13.0 12.8 (*) 0.2 Administration, support, and waste management M M H (*) M M 3.2 0.7 Health care and social assistance 27.4 K 0.0 A K K 0.0 A Accommodation and food services 7.7 7.6 (*) 0.1 7.7 7.6 0.1 0.1 Other K 26.7 A A K 26.7 F A (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 3. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. - 12 - Table 4.2. Current and Planned Employment 1 of U.S. Businesses Acquired, Established, and Expanded in 2015, Industry of Affiliate by Type of Investment [Thousands of employees] 2 All industries Manufacturing Total (1) 422.2 Current employment By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 418.0 1.2 3.1 Total (5) 461.6 Planned employment 3 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) 418.0 33.9 9.8 139.5 137.5 0.4 1.7 148.9 137.5 5.3 6.1 Food Beverages and tobacco products Paper Petroleum and coal products 10.2 1.1 2.0 0.0 10.0 1.1 2.0 0.0 0.0 0.0 (*) 0.0 0.2 0.0 (*) 0.0 10.4 1.1 2.4 0.0 10.0 1.1 2.0 0.0 (*) 0.0 (*) 0.0 0.4 (*) 0.4 0.0 Chemicals Basic chemicals Pharmaceuticals and medicines Other 29.7 I 16.5 I 29.5 I 16.5 I (*) (*) (*) (*) 0.1 0.1 (*) (*) 30.7 6.1 17.0 7.6 29.5 I 16.5 I 0.2 A (*) A 0.9 A 0.5 A Plastics and rubber products Nonmetallic mineral products Primary and fabricated metals Primary metals Fabricated metal products 11.2 G 16.4 15.6 0.8 11.1 G 16.0 J A (*) (*) (*) (*) 0.0 0.1 0.0 0.4 A A 11.9 G 17.0 16.0 1.0 11.1 G 16.0 J A A 0.1 A 0.4 A A 0.0 F A F Machinery I I (*) A 5.7 I 0.1 A 7.3 3.0 G H 7.3 3.0 G H 0.0 0.0 0.0 0.0 (*) 0.0 0.0 (*) 7.3 3.0 G H 7.3 3.0 G H (*) (*) (*) (*) (*) (*) 0.0 (*) Electrical equipment, appliances, and components Transportation equipment Motor vehicles, bodies and trailers, and parts Other Other G 10.0 I G K 2.2 9.4 I G 42.4 A 0.1 A A A A 0.5 0.3 0.2 A 2.3 13.8 12.3 1.5 K 2.2 9.4 I G 42.4 A 2.8 H A 1.3 A 1.6 G A G Wholesale trade Motor vehicles and motor vehicle parts and supplies Electrical goods Petroleum and petroleum products Other 4.1 1.2 (*) (*) 2.8 3.6 G (*) 0.0 G A 0.0 0.0 0.0 A A A 0.0 (*) A 4.8 1.3 (*) (*) 3.4 3.6 G (*) 0.0 G A 0.1 (*) 0.0 A F A (*) (*) F Retail trade Food and beverage stores Other 72.0 G L 71.9 G L (*) 0.0 (*) 0.0 0.0 0.0 72.1 G L 71.9 G L A (*) A A 0.0 A Information Publishing industries Telecommunications Other 10.2 2.9 0.9 6.3 10.1 2.9 0.9 6.2 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.1 11.1 3.1 1.0 7.0 10.1 2.9 0.9 6.2 F 0.1 (*) F A (*) 0.0 A Finance and insurance Depository credit intermediation (banking) Finance, except depository institutions Insurance carriers and related activities 13.4 H G 8.7 12.9 H G 8.2 0.1 0.0 A A 0.4 A 0.0 A 13.7 H G 8.9 12.9 H G 8.2 A (*) 0.1 A F 0.1 (*) F 4.1 2.3 1.8 H 2.2 G 0.1 0.1 (*) A (*) A K K G H 2.2 G K K (*) (*) A A 27.4 2.0 16.5 1.6 7.2 27.1 2.0 16.5 1.6 7.0 (*) (*) 0.0 (*) (*) 0.2 0.0 0.0 0.0 0.2 28.0 2.1 16.6 1.8 7.6 27.1 2.0 16.5 1.6 7.0 F (*) 0.1 0.1 A A 0.0 (*) 0.0 A Computers and electronic products Semiconductors and other electronic components Navigational, measuring, and other instruments Other Real estate and rental and leasing Real estate Rental and leasing (except real estate) Professional, scientific, and technical services Architectural, engineering, and related services Computer systems design and related services Management, scientific, and technical consulting Other M A M M G G Other industries 151.7 0.5 Mining 0.4 0.3 A A A 0.3 A A Utilities 4.6 4.6 0.0 0.0 4.7 4.6 (*) 0.1 Construction 1.4 1.4 0.0 0.0 1.4 1.4 (*) 0.0 Transportation and warehousing 13.0 12.5 0.2 0.3 13.4 12.5 0.2 0.7 Administration, support, and waste management 79.3 79.1 (*) 0.2 79.8 79.1 0.1 0.6 Health care and social assistance 36.8 36.8 0.0 0.0 36.8 36.8 (*) (*) Accommodation and food services 8.3 8.3 (*) 0.0 8.7 8.3 0.4 (*) Other 8.1 I A A I I A A (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 3. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. - 13 - 2 1 Table 5.1. Current and Planned Employment of U.S. Businesses Acquired, Established, and Expanded in 2014, Country of UBO by Type of Investment All countries Canada Total (1) 734.0 [Thousands of employees] Current employment 3 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 719.3 8.6 6.1 Total (5) 760.3 Planned employment 4 By type of investment U.S. U.S. U.S. businesses businesses businesses expanded acquired established (6) (7) (8) 719.3 21.5 19.5 86.4 83.3 2.7 0.4 87.7 83.3 3.4 1.0 350.3 F G F 6.6 344.4 0.9 1.5 0.5 6.2 2.0 A A 0.0 0.4 3.8 0.0 0.2 A 0.0 360.3 G G G 7.7 344.4 0.9 1.5 0.5 6.2 4.1 A A A 0.7 11.8 0.0 0.3 0.5 0.8 Germany Ireland Italy Netherlands 13.4 J H 8.0 12.5 10.2 3.7 I 0.5 0.0 0.2 (*) 0.4 F A G 19.4 J H 8.3 12.5 10.2 3.7 I 1.0 A A A 5.9 0.7 0.2 1.3 Spain Sweden Switzerland United Kingdom Other G H 19.9 35.0 M 1.5 H 18.6 K M A 0.0 0.6 A (*) 0.0 0.0 0.7 0.2 A G H 20.3 35.7 M 1.5 H 18.6 K M 0.2 A 0.8 0.5 0.1 A 0.0 0.8 A 0.7 63.7 63.5 0.2 0.1 L 63.5 1.0 A 7.1 (*) I 0.0 G 7.0 0.0 I 0.0 G (*) (*) 0.0 0.0 0.0 0.1 0.0 (*) 0.0 0.1 I (*) 6.2 0.0 G 7.0 0.0 I 0.0 G A (*) A 0.0 (*) A 0.0 A 0.0 0.1 56.6 J 42.3 G 56.4 J K G 0.2 A A 0.0 0.0 0.0 0.0 0.0 57.4 12.3 42.7 2.4 56.4 J K G F A 0.4 A A A A 0.0 Africa South Africa Other 0.5 (*) 0.5 0.5 (*) 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.6 (*) 0.5 0.5 (*) 0.5 (*) 0.0 (*) 0.0 0.0 0.0 Middle East Israel Saudi Arabia United Arab Emirates Other 2.3 0.9 0.3 0.2 0.9 2.1 0.9 0.2 0.2 0.9 (*) (*) (*) 0.0 0.0 0.1 0.0 0.1 0.0 0.0 2.6 1.1 0.4 0.2 0.9 2.1 0.9 0.2 0.2 0.9 0.3 0.2 (*) (*) (*) 0.3 (*) 0.2 0.0 0.0 L 3.7 3.5 16.0 1.4 13.6 1.8 11.1 (*) H K 3.7 1.9 16.0 0.6 12.0 0.8 10.9 (*) H 3.6 (*) 1.5 (*) 0.9 1.0 0.1 0.2 (*) (*) 1.7 0.0 0.1 0.0 0.0 0.7 0.9 0.0 0.0 0.0 68.0 4.0 8.8 16.1 G 17.1 4.4 J 0.1 H K 3.7 1.9 16.0 0.6 12.0 0.8 10.9 (*) H 12.7 0.3 6.0 0.1 G 1.5 G G A A I (*) 0.9 0.0 0.0 3.6 G 0.0 A (*) Europe Belgium Denmark Finland France Latin America and Other Western Hemisphere South and Central America Brazil Mexico Venezuela Other Other Western Hemisphere Bermuda United Kingdom Islands, Caribbean 5 Other Asia and Pacific Australia China Hong Kong India Japan Korea, Republic of Singapore Taiwan Other United States 6 M M (*) M M 0.0 0.1 0.2 (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. The Ultimate Beneficial Owner (UBO) is the entity, proceeding up the foreign ownership chain, which is not more than 50 percent owned by another entity. The UBO is the entity that ultimately owns or controls and thus ultimately derives the benefits and assumes the risks from owning or controlling an affiliate. 3. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 4. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. 5. The "United Kingdom Islands, Caribbean" consists of the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands. 6. The United States is the country of ultimate beneficial owner for businesses newly acquired, established, or expanded by foreign investors that are ultimately owned by persons located in the United States. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. - 14 - 2 1 Table 5.2. Current and Planned Employment of U.S. Businesses Acquired, Established, and Expanded in 2015, Country of UBO by Type of Investment All countries Total (1) 422.2 [Thousands of employees] Current employment 3 By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 418.0 1.2 3.1 Total (5) 461.6 Planned employment 4 By type of investment U.S. U.S. U.S. businesses businesses businesses expanded acquired established (6) (7) (8) 418.0 33.9 9.8 Canada 110.0 109.2 0.3 0.5 M 109.2 K G Europe Belgium Denmark Finland France 251.6 H 0.6 (*) 95.9 249.6 H 0.6 (*) 95.7 0.3 0.0 0.0 (*) (*) 1.7 (*) 0.0 0.0 0.2 255.7 I 0.6 (*) 96.8 249.6 H 0.6 (*) 95.7 1.7 (*) (*) (*) 0.1 4.4 (*) 0.0 0.0 1.0 Germany Ireland Italy Netherlands 24.8 46.1 6.5 6.9 24.6 46.1 6.4 6.9 0.2 (*) (*) (*) 0.1 0.0 0.1 0.0 25.5 46.1 6.7 6.9 24.6 46.1 6.4 6.9 0.4 0.1 0.1 (*) 0.5 0.0 0.2 (*) Spain Sweden Switzerland United Kingdom Other 1.8 1.2 40.5 20.6 G 1.8 1.2 K 20.2 1.7 0.0 (*) (*) (*) (*) 0.0 (*) F 0.4 A 1.9 1.3 41.2 21.6 G 1.8 1.2 K 20.2 1.7 A (*) 0.2 0.4 A A (*) G 1.0 A Latin America and Other Western Hemisphere 8.5 8.0 0.2 0.4 9.5 8.0 0.9 0.7 South and Central America Brazil Mexico Venezuela Other 0.5 0.4 0.1 0.0 0.1 0.4 0.3 (*) 0.0 0.1 (*) (*) (*) 0.0 (*) 0.1 0.1 0.1 0.0 0.0 1.1 0.7 0.3 (*) 0.1 0.4 0.3 (*) 0.0 0.1 0.4 0.3 0.1 (*) (*) 0.3 0.1 0.2 0.0 (*) Other Western Hemisphere Bermuda United Kingdom Islands, Caribbean 5 Other 8.0 0.2 7.7 0.1 7.6 0.2 7.4 (*) 0.1 (*) 0.1 0.0 0.2 0.0 0.1 0.1 8.5 0.2 8.0 0.2 7.6 0.2 7.4 (*) 0.4 (*) 0.4 (*) 0.4 0.0 0.2 0.2 G 0.2 G G 0.2 G 0.0 0.0 0.0 0.0 0.0 0.0 G 0.2 G G 0.2 G (*) (*) (*) 0.0 0.0 0.0 Middle East Israel Saudi Arabia United Arab Emirates Other 10.9 0.5 0.2 I H 10.9 0.5 0.2 I H (*) (*) 0.0 0.0 0.0 (*) (*) 0.0 0.0 0.0 11.1 0.7 0.2 I H 10.9 0.5 0.2 I H 0.1 0.1 0.0 (*) (*) 0.1 0.1 0.0 (*) 0.1 Asia and Pacific Australia China Hong Kong India Japan Korea, Republic of Singapore Taiwan Other 37.2 1.1 14.7 0.3 1.6 15.0 1.8 2.5 0.1 0.1 36.3 1.1 14.5 0.2 1.6 14.4 1.8 2.5 0.1 (*) 0.4 0.0 0.1 0.1 (*) 0.1 0.0 (*) 0.0 (*) 0.5 0.0 (*) 0.0 0.0 0.4 (*) 0.0 (*) 0.0 44.0 1.3 17.8 0.7 1.9 17.6 1.9 2.5 0.1 0.1 36.3 1.1 14.5 0.2 1.6 14.4 1.8 2.5 0.1 (*) H 0.1 2.7 0.5 0.1 0.9 0.1 (*) (*) A H 0.1 0.6 (*) 0.3 2.3 (*) 0.0 (*) A Africa South Africa Other United States 6 G G G G (*) (*) 0.0 0.0 (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. The Ultimate Beneficial Owner (UBO) is the entity, proceeding up the foreign ownership chain, which is not more than 50 percent owned by another entity. The UBO is the entity that ultimately owns or controls and thus ultimately derives the benefits and assumes the risks from owning or controlling an affiliate. 3. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 4. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. 5. The "United Kingdom Islands, Caribbean" consists of the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands. 6. The United States is the country of ultimate beneficial owner for businesses newly acquired, established, or expanded by foreign investors that are ultimately owned by persons located in the United States. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. - 15 - Table 6.1. Current and Planned Employment 1 of U.S. Businesses Acquired, Established, and Expanded in 2014, State 2 by Type of Investment [Thousands of employees] 3 Total New England: Connecticut Maine Massachusetts New Hampshire Rhode Island Vermont Total (1) 734.0 Current employment By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 719.3 8.6 6.1 4 Total (5) 760.3 Planned employment By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) 719.3 21.5 19.5 5.0 0.2 5.9 0.7 1.7 H 5.0 0.2 5.9 0.7 1.4 H (*) 0.0 (*) 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.3 0.0 5.0 0.2 6.0 0.7 1.7 H 5.0 0.2 5.9 0.7 1.4 H (*) 0.0 (*) 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.3 0.0 Mideast: Delaware District of Columbia Maryland New Jersey New York Pennsylvania 0.4 0.3 8.8 12.3 15.6 9.5 0.4 0.3 8.5 12.1 13.0 9.5 (*) (*) (*) 0.1 G (*) (*) 0.0 0.3 0.2 A 0.1 1.0 0.3 8.9 12.3 15.8 9.6 0.4 0.3 8.5 12.1 13.0 9.5 0.6 (*) (*) 0.1 G (*) (*) 0.0 0.4 0.1 A 0.1 Great Lakes: Illinois Indiana Michigan Ohio Wisconsin M 3.9 16.5 5.9 1.6 M 3.6 15.8 4.3 1.6 0.6 0.1 0.5 1.3 (*) 0.1 0.2 0.2 0.2 (*) M 4.7 17.9 7.9 1.6 M 3.6 15.8 4.3 1.6 1.2 0.3 0.6 H (*) 0.1 0.9 1.6 F (*) Plains: Iowa Kansas Minnesota Missouri Nebraska North Dakota South Dakota 0.3 0.3 8.9 4.4 (*) 0.4 (*) 0.1 0.3 8.8 3.6 (*) 0.4 (*) 0.1 0.0 0.1 0.8 0.0 0.0 0.0 0.0 0.0 (*) 0.0 (*) 0.0 0.0 0.3 0.3 8.9 H 0.1 0.4 (*) 0.1 0.3 8.8 3.6 (*) 0.4 (*) 0.1 0.0 0.1 G 0.0 0.0 0.0 0.0 0.0 (*) 0.0 (*) (*) 0.0 Southeast: Alabama Arkansas Florida Georgia Kentucky Louisiana Mississippi North Carolina South Carolina Tennessee Virginia West Virginia 5.7 0.1 M 11.2 1.9 1.7 0.3 8.6 2.1 2.6 J 0.1 I (*) M 9.7 G 1.5 0.2 8.3 G 1.3 J 0.1 A (*) (*) 0.2 A 0.2 0.1 0.1 A A 0.1 0.0 (*) 0.0 A 1.4 (*) 0.0 0.1 0.2 (*) G (*) 0.0 5.8 0.1 M 13.6 2.3 1.8 0.5 8.8 H 9.0 K 0.1 I (*) M 9.7 G 1.5 0.2 8.3 G 1.3 J 0.1 A 0.1 (*) G A 0.3 0.3 0.1 G G G 0.0 0.1 (*) 0.6 H 0.3 0.0 0.1 0.4 0.1 I 0.1 0.0 Southwest: Arizona New Mexico Oklahoma Texas 2.9 0.2 1.5 29.0 2.9 0.1 1.5 28.4 0.1 0.0 (*) 0.2 (*) 0.2 0.0 0.4 2.9 0.3 1.5 30.2 2.9 0.1 1.5 28.4 0.1 (*) (*) 0.4 (*) 0.2 0.0 1.4 7.1 (*) F 0.6 (*) 7.1 0.0 F 0.6 (*) 0.0 (*) 0.0 0.0 (*) (*) 0.0 0.0 (*) 0.0 7.1 (*) F 0.6 (*) 7.1 0.0 F 0.6 (*) 0.0 (*) 0.0 0.0 (*) (*) 0.0 0.0 (*) 0.0 0.3 77.1 0.0 1.8 1.6 16.9 0.3 76.3 0.0 G 1.5 16.8 0.0 0.6 0.0 (*) 0.0 (*) 0.0 0.2 0.0 A 0.1 (*) 0.3 78.0 0.0 2.1 1.6 17.3 0.3 76.3 0.0 G 1.5 16.8 0.0 0.9 0.0 (*) 0.0 0.4 0.0 0.8 0.0 A 0.1 (*) Puerto Rico 0.3 0.0 0.3 0.0 0.4 0.0 0.4 0.0 Other U.S. areas 5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Rocky Mountains: Colorado Idaho Montana Utah Wyoming Far West: Alaska California Hawaii Nevada Oregon Washington Unspecified 6 2.8 2.8 0.0 0.0 6.3 2.8 2.0 1.6 (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. Statistics are shown for the state in which the newly acquired, established, or expanded U.S. business enterprise is located. If the U.S. business enterprise operates in more than one state; it is the state where the largest number of employees are based; if there are no employees it is the state of incorporation of the U.S. business enterprise 3. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 4. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. 5. "Other U.S. areas" consists of the U.S. Virgin Islands, Guam, American Samoa, and all other outlying U.S. areas. 6. For U.S. business enterprises with transaction costs below $3 million information on the state of location is not collected. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. - 16 - Table 6.2. Current and Planned Employment 1 of U.S. Businesses Acquired, Established, and Expanded in 2015, State 2 by Type of Investment [Thousands of employees] 3 Total New England: Connecticut Maine Massachusetts New Hampshire Rhode Island Vermont Total (1) 422.2 Current employment By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) 418.0 1.2 3.1 4 Total (5) 461.6 Planned employment By type of investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) 418.0 33.9 9.8 0.6 1.4 7.3 0.1 0.0 I 0.6 1.4 7.2 0.1 0.0 I 0.0 0.0 (*) 0.0 0.0 0.0 (*) 0.0 0.1 0.0 0.0 0.0 0.9 1.4 7.5 0.1 0.0 I 0.6 1.4 7.2 0.1 0.0 I A 0.0 (*) 0.0 0.0 0.0 A 0.0 0.2 0.0 0.0 0.0 Mideast: Delaware District of Columbia Maryland New Jersey New York Pennsylvania 0.1 0.3 3.1 11.1 9.6 4.4 0.1 0.3 3.1 11.1 9.4 4.3 (*) 0.0 (*) 0.0 0.2 (*) 0.0 0.0 0.0 0.0 (*) 0.1 0.2 0.3 3.2 11.4 9.8 4.5 0.1 0.3 3.1 11.1 9.4 4.3 (*) 0.0 (*) 0.0 A (*) 0.0 0.0 0.0 0.3 A 0.2 Great Lakes: Illinois Indiana Michigan Ohio Wisconsin J I 10.2 6.2 2.3 J I 10.2 6.0 2.3 0.0 0.1 (*) (*) 0.0 0.0 (*) (*) 0.2 0.0 J 10.3 10.4 6.5 2.3 J I 10.2 6.0 2.3 0.0 A (*) 0.2 0.0 A A 0.2 0.3 0.0 Plains: Iowa Kansas Minnesota Missouri Nebraska North Dakota South Dakota I 0.1 K 6.3 0.1 0.2 (*) I 0.1 K I 0.1 0.1 (*) 0.0 0.0 0.0 0.1 0.0 (*) 0.0 (*) (*) 0.2 F 0.0 0.1 0.0 I 0.2 K 6.4 0.1 0.2 (*) I 0.1 K I 0.1 0.1 (*) 0.0 0.0 0.0 0.1 0.0 A 0.0 A 0.1 0.3 F 0.0 A 0.0 Southeast: Alabama Arkansas Florida Georgia Kentucky Louisiana Mississippi North Carolina South Carolina Tennessee Virginia West Virginia 8.8 0.9 17.6 5.0 0.7 3.2 0.2 31.6 0.2 1.4 2.9 0.0 8.8 0.9 J 5.0 0.7 3.2 0.0 31.1 0.2 G 2.9 0.0 0.0 0.0 A (*) 0.0 0.0 0.1 0.1 (*) (*) (*) 0.0 0.0 0.0 0.4 (*) 0.0 (*) 0.1 0.4 (*) A 0.0 0.0 8.9 1.0 K 5.1 0.8 3.4 0.7 32.3 2.7 2.9 2.9 0.0 8.8 0.9 J 5.0 0.7 3.2 0.0 31.1 0.2 G 2.9 0.0 (*) 0.0 K (*) A 0.0 0.5 0.3 G F (*) 0.0 (*) 0.1 F 0.1 A 0.2 0.2 0.9 A 1.0 0.0 0.0 Southwest: Arizona New Mexico Oklahoma Texas L 0.0 0.2 20.2 L 0.0 0.2 20.0 0.0 0.0 0.0 (*) (*) 0.0 0.0 0.2 L 0.0 0.2 20.5 L 0.0 0.2 20.0 (*) 0.0 0.0 0.1 0.1 0.0 0.0 0.4 0.6 0.0 0.0 0.5 1.3 0.5 0.0 0.0 0.5 1.3 0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.6 0.0 0.0 0.5 1.3 0.5 0.0 0.0 0.5 1.3 0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 G 107.3 (*) H K 2.4 G 106.8 0.0 H K 2.2 0.0 0.2 (*) (*) 0.0 A 0.0 0.3 0.0 0.2 (*) A G 109.0 0.1 H K G G 106.8 0.0 H K 2.2 0.0 F 0.1 (*) 0.0 A 0.0 G 0.0 0.5 A A (*) 0.0 (*) 0.0 (*) 0.0 (*) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Rocky Mountains: Colorado Idaho Montana Utah Wyoming Far West: Alaska California Hawaii Nevada Oregon Washington Puerto Rico Other U.S. areas 5 Unspecified 6 1.0 1.0 0.0 0.0 4.2 1.0 2.3 0.9 (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. Statistics are shown for the state in which the newly acquired, established, or expanded U.S. business enterprise is located. If the U.S. business enterprise operates in more than one state; it is the state where the largest number of employees are based; if there are no employees it is the state of incorporation of the U.S. business enterprise 3. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 4. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. 5. "Other U.S. areas" consists of the U.S. Virgin Islands, Guam, American Samoa, and all other outlying U.S. areas. 6. For U.S. business enterprises with transaction costs below $3 million information on the state of location is not collected. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. - 17 -
@FedFRASER