President Obama’s missed opportunity at the Auto Show

Take for example, Toyota which employs more than 30,000 Americans; or Volkswagen which employs over 4,800. Honda’s 26,000 U.S. workers are spread from coast to coast,  Hyundai’s manufacturing facility in Montgomery, Alabama employs another 2,700 Americans and Nissan now employs over 10,000 here. The list goes on.
 
{mosads}Recently, Cars.com announced that the Toyota Camry is the “most-American” passenger vehicle sold in the U.S. based on percentage of parts made domestically. And, if you see an ML Class Mercedes on the road in Germany, it was most likely made in Alabama. Yet, not a word of this from the President while highlighting the U.S. auto industry during his stop at the DC show.
 
Several weeks ago, President Obama held an “Insourcing American Jobs Forum” at the White House. Although he highlighted American firms bringing jobs back to the United States, insourcing from global companies is worth more than just a mention. The U.S. operations of foreign companies in all sectors employ over 5 million Americans. These insourced jobs are predominantly in the manufacturing sector – with U.S. subsidiaries employing 17 percent of all American manufacturing jobs. The jobs are first-rate ones too, with annual compensation at these firms of over $77,000 – 33 percent higher than compensation at all U.S. companies.
 
Many elected officials are starting to truly understand the opportunities global companies can bring. Governors clearly get it – pulling out all of the stops to win the next new facility for their state.
 
It’s 2012 and the old way of defining an “American” company has (or at least should have) fallen to the wayside. We should celebrate the full diversity, ingenuity, and global heritage of America’s modern auto industry – with the number of successful U.S. auto companies far exceeding just 3.
 
McLernon is president & CEO of the Organization for International Investment, an association representing the U.S. operations of global companies.