April 7, 2020
PGA client Organization for International Investment (“OFII”) has undergone a name change and rebranding to more accurately reflect its mission. Effective March 30, OFII is now GBA, the Global Business Alliance. As the leading voice for international companies doing business in America, GBA stated that the new moniker is more straightforward and descriptive of the dynamic association of its member companies. “Our members are American companies with global heritage and an indispensable part of our nation’s economic success,” as stated on GBA’s website.
In New Jersey, and across the nation, GBA member companies have advocated for public policies that encourage foreign direct investment (“FDI”) in the US and tax policies that do not discriminate against foreign-owned companies. Over 1,000 international employers maintain operations in the Garden State, with nearly 300,000 jobs directly attributable to FDI. That is approximately 8.1% of New Jersey jobs, placing the state well above the national average and highest among all our neighboring states.
Many of New Jersey’s largest and most recognized employers, in all sectors ranging from pharmaceutical, automobile, and manufacturing, are the domestic subsidiaries of foreign-owned companies.