Nike Plans To Create Up To 10,000 U.S. Jobs If Trade Deal Approved

(RTTNews) - Nike Inc. (NKE) said Friday that it will create up to 10,000 manufacturing and engineering jobs over the next decade if Congress approves fast-track trade legislation and a Trans-Pacific Partnership trade agreement is finalized.

Obama is promoting the trade agreement and fast-track authority, which allows for an up-or-down vote on trade deals that have been negotiated by the president, as a way to expand U.S. exports and jobs. Obama has yet to persuade many members of his own party to support his view, including lawmakers whose votes he needs in Congress.

NIKE 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," the company said.

"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.

"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.