Foreign-owned companies employed 8.57 million workers in the United States in 2024, a slight increase from 8.56 million the year before, according to new data from the U.S. Bureau of Economic Analysis.
The report, released Thursday, covers majority-owned U.S. affiliates of foreign multinational enterprises. These affiliates accounted for 6.1 percent of total private-industry employment in 2024, down from 6.2 percent in 2023. The largest sectors for employment were manufacturing and retail trade.
Companies with ultimate beneficial owners in the United Kingdom, Japan, and Germany contributed the most jobs. Those three countries have long been among the largest sources of foreign direct investment in the United States, and the 2024 data confirms that pattern continues.
The economic contribution of these affiliates grew in 2024. Their current-dollar value added, a measure of direct contribution to U.S. gross domestic product, increased 4.3 percent to $1.52 trillion. That figure represented 6.7 percent of total U.S. business-sector value added, down slightly from 6.8 percent in 2023.
Capital spending by foreign-owned affiliates also rose. Expenditures for property, plant, and equipment increased 3.3 percent to $328.0 billion. That level of investment suggests continued commitment to U.S. operations despite ongoing trade tensions and uncertainty around tariff policy.
Research and development spending showed the strongest growth of any category in the report. R&D performed by U.S. affiliates of foreign multinationals increased 5.3 percent to $95.5 billion. These affiliates accounted for 12.4 percent of all U.S. business R&D in 2024. That share is notable given that foreign-owned affiliates represent a far smaller slice of the overall economy.
California led all states in foreign affiliate employment, with 885,200 workers. Texas ranked second with 717,400, and New York placed third with 556,700. In all three states, the manufacturing sector employed the most workers among foreign-owned affiliates.
The BEA noted that statistics for 2023 were revised to incorporate newly available and revised source data. Preliminary 2023 figures had been released in December 2025. Full details including sales data, balance sheet items, compensation figures, and trade statistics are available through the BEA's interactive data application.
The report offers a broad view of how deeply integrated foreign multinational companies are in the U.S. economy. At 8.57 million jobs and $1.52 trillion in value added, their footprint is substantial, even as their share of total private employment edged slightly lower compared to the prior year.
