On behalf of the Royal Norwegian Embassy in Washington, Menon Economics has analyzed the economic impact of Norwegian activity on job creation in the United States. The report quantifies these effects in terms of the amount of US jobs associated with Norwegian multinationals, Norwegian import of American goods and services and investments from US-affiliated companies.
Based on extensive data collection, Norwegian multinational companies in the US contribute to the creation of 20,200 American jobs. These companies include large companies with thousands of employees, alongside many small and midsized Norwegian companies operating in a range of different industries. Additionally, export of US goods and services to Norway supports 12,100 American jobs. Moreover, Norwegian multinationals and US companies exporting to Norway indirectly support 44,200 US jobs through their purchases of goods and services. Finally, we find that there are approximately 218,000 jobs associated with Norwegian portfolio investments in US companies.
We conducted in-depth analyses of six specific industries that are of significant relevance in the economic ties between the United States and Norway. These industries include:
- Offshore wind
- Emerging green technologies
- Maritime sector
- Process industry
- Defense and security