PORTLAND, Ore.--(BUSINESS WIRE)--ESCO Corporation, a leading global provider of wear parts and complementary services for the mining, infrastructure, and oil & gas industries, released an independent study today that focuses on the company’s economic impact in Oregon. The report revealed ESCO is associated with almost $433 million in economic activity and 2,975 jobs in Oregon.
“Despite having almost no local customers, we were very pleased that this independent study affirmed the significant impact ESCO has on the Oregon economy,” said Cal Collins, ESCO’s CEO and President. “As the report also states, we hit a milestone at the end of 2011 with more than $1 billion in sales and will celebrate our 100th year as a Portland-based company in 2013.”
Some of the key findings are:
- ESCO saw its employee base increase by 23 percent during the recent recession.
- The company purchased almost $90 million in goods and services from more than 500 Oregon-based businesses.
- ESCO’s average annual wage is 65 percent higher than the statewide average.
- The company supported state and local governments with almost $20 million in tax and related revenues.
A copy of the study can be found at www.escocorp.com.
ESCO commissioned ECONorthwest, a Portland-based consulting firm, to conduct the economic study using 2011 business results. ESCO leaders chose the Portland site for this study because it is home to ESCO’s global headquarters and, with two foundries in the area, it is the company’s largest operation. Also, nearly 1000 of the company’s approximately 4800 employees worldwide are based in Oregon.
About ESCO Corporation
Headquartered in Portland, Oregon, ESCO Corporation is a leading independent designer, manufacturer and provider of highly engineered wear parts and complementary services used in mining, oil & gas, infrastructure development, and industrial applications. The company operates in 28 countries on six continents, including an expansive network of 27 manufacturing facilities and more than 50 sales and distribution offices.