Foreign firms operating in the U.S. play an important economic role in the nation and Fourth District states. The U.S. Department of Commerce classifies a firm as a U.S. affiliate of a foreign firm if at least 10% of the voting securities are controlled by a single foreign entity. In 1997, roughly 4% of all U.S. workers were employed by U.S. affiliates of foreign firms, up from about 3% of all workers in 1986.
Suggested citation: "Foreign Firms," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-12, pp. 13-14, 12.01.1999.