Nike Welcomes President Obama to Its World Headquarters
May 08 2015 - 5:00AM
Business Wire
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.
About NIKE, Inc.
NIKE, Inc., based near Beaverton, Oregon, is the world's leading
designer, marketer and distributor of authentic athletic footwear,
apparel, equipment and accessories for a wide variety of sports and
fitness activities. Wholly-owned NIKE, Inc. subsidiaries include
Converse Inc., which designs, markets and distributes athletic
lifestyle footwear, apparel and accessories, and Hurley
International LLC, which designs, markets and distributes surf and
youth lifestyle footwear, apparel and accessories. For more
information, NIKE’s earnings releases and other financial
information are available on the Internet at
http://investors.nike.com and individuals can follow @Nike.
NIKE, Inc.Investor Contact:Kelley
Hall, 503-532-3793Kelley.hall@nike.comorMedia
Contact:Kellie Leonard,
503-880-1251kellie.leonard@nike.com
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