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.
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