Study reveals significance of Invista's local economic impact
May 2, 2013 at 12:02 a.m.
Invista's Victoria site supports more than 5,000 jobs and more than $300 million in compensation and benefits.
A study completed in 2012 by Harrah Analytics, an independent economic research firm, found each Invista job in Texas generated, on average, about six other jobs in the state.
Invista's nearly 1,500 full- and part-time employees in Texas indirectly resulted in an estimated 9,000 additional jobs in the community and more than $650 million in compensation and benefits.
"This study validates our local and state economic impact, as well as the value of employment with our company," said Paul Hughes, Invista's Victoria site manager. "By providing employment opportunities at the site, we are able to help grow local businesses as well."
The area Invista manufacturing site buys industrial equipment, raw materials and services from maintenance and construction contractors, as well as other goods and services from area businesses.
The study takes into account the economic impact of Invista employees spending paychecks for food, shelter, clothing, transportation, entertainment and more.
Koch companies - including Invista - directly employ more than 47,000 people throughout all 50 states and the District of Columbia, paying compensation and benefits totaling more than $4 billion, according to the study. The combined employment and spending translates to all Koch companies supports about 191,000 jobs and earnings of about $11 billion.
The complete study and infographic are available on kochind.com.