In Brief : Calif. Bumps N.Y. in Multinationals
From Times Wire Services
California has displaced New York as the state with the most multinational manufacturing companies, the New York-based Conference Board said in a report released today.
California now has 150 publicly owned manufacturing firms with offices abroad, compared with 130 headquartered in New York state, according to the report by the worldwide organization of corporate executives.
The report is based on 1988 corporate data of the foreign operations of 1,700 publicly held manufacturers. It said there are 990 U.S.-owned manufacturing multinationals with foreign assets of $126 billion, up from 884 in 1987.
In 1987, New York was home to 123 foreign-affiliated manufacturers and California had 108.
