More Australian companies are exporting their expertise to the US with growing success, according to a new report.
The report shows more than 1500 Australian businesses are now trading in the United States, including more than 400 parent companies.
Minister for Trade Steven Ciobo today released a new report showing the significant impact Australian investors are making in the US.
The Australian Trade and Investment Commission (Austrade) report is the first of its type. It presents a data-rich snapshot of Australia’s expansive investment footprint in this major market.
California has the most diverse portfolio of US businesses with Australian investment, with 279 spread across 83 different industries, including manufacturing, retail, finance, wine production and investment and construction. Texas comes in second with 276 businesses across 56 industries and New York is in third with 222 businesses across 49 industries.
Among those flying the flag of Australian ingenuity and enterprise are well-known names such as Westfield, Brambles, Austal, BHP Billiton, Rio Tinto, Macquarie Infrastructure, WorleyParsons and Atlassian.
Long history of investing
Joining these giants are newcomers such as E.P. & L.P. The popular Hollywood bar and restaurant is owned by Australians, was designed by an Australian architect and features Australian produce prepared by Australian head chef Louis Tikaram.
Australians have a long history of investing in the United States and welcome American investment in Australia.
“The United States is both our number one source and destination for investment – with the two-way stock worth $1.45 trillion at the end of 2015,” Mr Ciobo said.
“Since the Australia-United States Free Trade Agreement came into force in 2005, two-way investment stock has grown by 128 percent.”
The report, Australia’s Investment Footprint in the US, is available at https://www.austrade.gov.au/News/Economic-analysis/key-publications