Record Deal Supports 18,000 U.S. Jobs
The Sadara Chemical Co., a joint venture of Saudi Aramco and Dow Chemical, developed plans for a new petrochemical complex in Saudi Arabia that will produce more than three million metric tons of specialty plastics and other chemical products each year. |
When Ex-Im Bank financed the design and construction of a much-needed water supply system in Sri Lanka, hundreds of jobs were created in Colorado, Virginia, Pennsylvania and New Jersey.
When Ethiopian Airlines purchased its first Boeing Dreamliner 787 aircraft with the support of Ex-Im financing, thousands of workers were able to keep good-paying jobs in Washington State.
Exports like these and thousands more embody Ex-Im Bank’s mission of supporting American jobs by facilitating the export of U.S. goods and services. With each transaction, the Bank is fulfilling its congressional charter, which states, “The Bank’s objective in authorizing loans, guarantees, insurance and credits shall be to contribute to maintaining or increasing employment of United States workers.”
Since its founding in 1934, Ex-Im Bank has financed nearly $550 billion of U.S. exports, ensuring a level playing field for U.S. goods and services in the global marketplace and supporting millions of American jobs.
In the last four years alone (FY 2009 to FY 2012), Ex-Im Bank financed $152 billion of U.S. exports. By providing this critically needed financial support to maintain U.S. competitiveness abroad, the Bank has helped to sustain nearly one million jobs across the country.
Brazilian Tourist Attraction Creates U.S. Export Opportunity
Thanks to experts at a company in Colorado, Brazil will soon be home to one of the largest and most technologically advanced aquariums in the world. |
In FY 2012, Ex-Im Bank
| Ex-Im Bank’s Jobs Calculation Methodology
Ex-Im Bank’s jobs estimate methodology is based on the jobs-calculation methodology of the Trade Promotion Coordinating Committee (TPCC) using data computed by the Bureau of Labor Statistics (BLS), to calculate the number of jobs associated with Ex-Im-supported exports of goods and services. The Bank uses the latest available domestic employment requirements table (ERT) as computed by the BLS to calculate the number of jobs associated with Ex-Im-supported goods and services. Derived from (i) Bureau of Economic Analysis (BEA) Input-Output tables, (ii) BEA National Income and Product Accounts data (NIPA final-demand components), and (iii) BLS industry employment data, the ERT quantifies the number of direct and indirect production-related jobs associated with a million dollars of final demand for 196 detailed industries. The ERT is a tool produced by the BLS as an input into their employment-projections program. The TPCC identified this basic methodology as the official U.S. government calculation of jobs supported through exports. For jobs estimates based on FY2012 Ex-Im transactions, the Bank supports 6,480 jobs per $1 billion of U.S. exports. This is a weighted-average based on each industry's relative jobs per $1 billion average at time of calculation. The reduction in the number of U.S. jobs supported per $1 billion of exports financed by Ex-Im from the previous year is consistent with the U.S. economy-wide trend – the increase in productivity mainly accounts for this reduction. The change in the composition of industries supported by Ex-Im financing also influenced the reduction. |
