RB contributes $3.8 billion to US economy
PARSIPPANY, N.J., July 28, 2020 /PRNewswire/ -- Reckitt Benckiser Group plc ("RB") today announces the findings of a new report, highlighting the company's significant contribution to the US economy. A global leader in health, hygiene, and nutrition products, RB contributed $3.8 billion to the US economy last year, stimulating an additional $1.4 million in expenditure for every $1 million in GDP the company generates.
Developed by Oxford Economics, the report highlights the value RB brings to the US economy by evaluating its impact on GDP, jobs and taxes:
- $1.3 billion spend with suppliers across over 40 US states
- 25,000 US jobs supported and a 'jobs multiplier' of 6.4, double the US company average
- $2.6 billion saving in clinicians' time through RB's self-care products
"By supporting jobs and stimulating economic activity along its US supply chain, the impact of RB's activities is shown to extend well beyond simply creating health, hygiene and nutrition products,'' commented Hamilton Galloway, Head of Consultancy, Americas, Oxford Economics: ''Our research clearly demonstrates the significant contribution that a large and successful company like RB can make to the economy as a whole, especially the job market and the US's public finances."
Rahul Kadyan, EVP, North America, Hygiene, RB commented: "We have a long and proud history of creating innovative products for individuals, families and communities. From the creation of Lysol over 130 years ago to playing a vital part on the front-line against COVID-19 today, we protect, heal and nurture in the relentless pursuit of a cleaner and healthier world. I'm delighted that we can make such a deep and positive financial impact in the US and look forward to continuing our contribution for years to come."
The EPA has recently approved 3 RB products (Lysol Wipes, Lysol Disinfectant Spray and Lysol Disinfectant Max Cover Mist) as being effective against SARS-CoV-2 on surfaces when used as directed. Ensuring this impact is felt by communities, RB has partnered with Hilton Hotels, Avis Budget Group car rentals and Delta Air Lines in the US, enhancing cleanliness and disinfection as the hospitality and travel industries start-up again after lockdown. Holding true to its values, RB has also committed £42 million ($49 million) as part of its global RB Fight for Access Fund, in an effort to break the chain of infection.
NOTES TO EDITORS
About the report
The report, Creating a Cleaner and Healthier Economy - The Economic Impact Of Reckitt Benckiser In The US was produced by Oxford Economics and commissioned by RB. Read the full report here.
About Reckitt Benckiser (RB)
RB* is driven by its vision to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world. They fight to make access to the highest-quality hygiene, wellness and nourishment a right.
RB is proud to have a stable of trusted household brands in more than 190 countries. These include Enfamil, Nutramigen, Nurofen, Strepsils, Gaviscon, Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet, Harpic, Cillit Bang, Mortein, Finish, Vanish, Calgon, Woolite, Air Wick and more. 20 million RB products a day are bought by consumers globally.
For more information visit www.rb.com
*RB is the trading name of the Reckitt Benckiser group of companies
About Oxford Economics
Oxford Economics was founded in 1981 as a commercial venture with Oxford University's business college to provide economic forecasting and modeling to UK companies and financial institutions expanding abroad. Since then, they have become one of the world's foremost independent global advisory firms, providing reports, forecasts, and analytical tools on more than 200 countries, 250 industrial sectors, and 7,000 cities and regions. Their best-in-class global economic and industry models and analytical tools give us an unparalleled ability to forecast external market trends and assess their economic, social, and business impact.
Oxford Economics is a key adviser to corporate, financial, and government decision-makers and thought leaders. Our worldwide client base now comprises over 1,500 international organisations, including leading multinational companies and financial institutions; key government bodies and trade associations; and top universities, consultancies, and think tanks.
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