Outlines Support for TPP and Vision For Advanced Manufacturing in the U.S.
NIKE, Inc. (NYSE:NKE) today welcomes President Obama to its World Headquarters in support of Trade Promotion Authority (TPA) and the Trans-Pacific Partnership (TPP). The company announced its intention to accelerate investment in advanced footwear manufacturing in the United States, if TPA is passed and a TPP agreement is finalized.
Footwear tariff relief would allow Nike to accelerate development of new advanced manufacturing methods and a domestic supply chain to support U.S. based manufacturing.
This advanced manufacturing model is expected to lead to the creation of up to 10,000 manufacturing and engineering jobs in addition to thousands of construction jobs and up to 40,000 indirect supply chain and service jobs in the United States over the next decade.
“We believe agreements that encourage free and fair trade allow Nike to do what we do best: innovate, expand our businesses and drive economic growth. Nike has always led the way in product innovation, and now we will be able to accelerate our investments to continue to drive manufacturing innovation,” said Mark Parker, President & CEO NIKE, Inc.
U.S. manufacturing would allow Nike to deliver product faster to market, create innovative performance footwear, provide customized solutions for consumers, and advance sustainability goals.
“We commend President Obama for his strong leadership to advance these important trade initiatives,” said Parker. “Our employees and our business depend on free trade and the ability to reach athletes and consumers around the world.”
Nike employs 26,000 people in the United States, including more than 8,500 in Oregon, and does business in 190 countries around the world. The company contributes an annual economic impact to Oregon of more than $2.5 billion.
Nike currently has a manufacturing footprint in the United States that includes footwear air sole manufacturing in Oregon and Missouri and relationships with manufacturing partners across the United States that employ thousands of Americans.
[Please find Mark Parker's remarks in the downloads.]