In a new report today, the Progressive Policy Institute listed “Investment Heroes” – the top 25 nonfinancial companies investing in the United States. AT&T, Verizon Communications, Exxon Mobil, Wal-Mart and Intel topped the list.
According to the authors of the study - "Investment Heroes: Who's Betting on America's Future?" - there would have been “a total of $1.4 trillion more in non-residential business investment over 2008-2011, in 2005 dollars, had business investment continued to grow at the same average annual rate in the ten years before the recession (4.8% over 1997-2007)."
Coauthors Diana G. Carew and Michael Mandel said, "That extra investment could have gone a long way toward creating jobs, boosting productivity and enhancing U.S. competitiveness."
Indeed, from a small business and economic growth perspective, investment remains critical. After all, thousands of small businesses are suppliers to these companies and entrepreneurs directly benefit from the innovative products and services produced by these firms.
Bottom line: Pro-growth, pro-investment policies are needed to encourage higher levels of investment.
Investment Heroes: Top 25 Nonfinancial Companies
by U.S. Capital Expenditure* (in $billions)
Rank
1. AT&T** 20.1
2. Verizon Communications** 16.2
3. Exxon Mobil 11.7
4. Wal-Mart 8.2
5. Intel 7.4
6. Occidental Petroleum 6.2
7. ConocoPhillips 5.6
8. Comcast** 5.3
9. Chevron 4.8
10. Southern Company** 4.5
11. Hess 4.4
12. Exelon** 4.0
13. Ford Motor 3.9
14. General Electric 3.7
15. Enterprise Product Partners** 3.6
16. Sprint Nextel** 3.1
17. Walt Disney 3.0
18. FedEx 2.9
19. Time Warner Cable** 2.9
20. General Motors 2.8
21. Target 2.5
22. IBM 2.5
23. Chrysler Group 2.5
24. Google 2.2
25. Apple 2.0
Total: $136.2 billion
*Universe includes nonfinancial Fortune 150 companies from 2011; financial reporting from FY11
**Reported to have U.S. operations only; may include a small amount of non-U.S. investment
To link to the paper on the PPI website please visit: http://progressivepolicy.org/investment-heroes-who%E2%80%99s-betting-on-america%E2%80%99s-future
Karen Kerrigan, President
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