Published: January 21, 2011
Washington– “We welcome President Obama’s selection of Business Roundtable Executive Committee member Jeffrey Immelt, Chairman and CEO of the General Electric Company (GE), as Chair of the Council on Jobs and Competitiveness.
“As a business leader, Immelt understands first-hand what it means to grow a business and create jobs. Over the past year, he has led a centennial celebration of the life and presidency of former GE employee Ronald Reagan. Today, Immelt has the unique opportunity to take up Reagan’s pro-growth legacy and advance the conversation on how to create a modern, 21st century American economy that can effectively compete abroad and secure prosperity at home.
“We thank President Obama for his excellent choice, and we will work closely with Immelt and the rest of the Council to enact the proposals we need to put Americans back to work, boost demand and get our economy moving again,” said Business Roundtable President John Engler.
Business Roundtable is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 13 million employees. Business Roundtable member companies comprise nearly a third of the total value of the U.S. stock markets, invest more than $114 billion annually in research and development – nearly half of all private U.S. R&D spending, pay more than $179 billion in dividends to shareholders and the economy and play a significant role in the competitiveness of small businesses, serving as key customers of their goods and services and providing them with access to world markets.
Business Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving.