New PPI Report Reveals Top 25 Companies Investing in America with Amazon Leading the List

WASHINGTON, Oct. 27, 2023 /PRNewswire/ -- A new report from the Progressive Policy Institute (PPI) found that Amazon invested $46.5 billion in the United States in 2022, putting it at the top of PPI's new Investment Heroes list. The report, "Investment Heroes 2023," published annually since 2012, analyzes publicly available data to identify the top 25 U.S. companies investing in America, powering job growth, and raising living standards. Eight of the top 10 companies on this year's ranking are in the technology, broadband, or ecommerce industries.

The theme of this year's Investment Heroes report is the recovery of the U.S. capital investment from the shock of the COVID-19 pandemic and the benefits these investments provide to workers. Report authors, Dr. Michael Mandel, Vice President and Chief Economist at PPI, and Jordan Shapiro, Director of the Innovation Frontier Project at PPI, analyzed capital spending in "high-investment" sectors and compared the spending levels for the same companies in 2019. Their analysis found that the great majority of companies on the Investment Heroes list have high and growing levels of domestic capital investment compared to before the pandemic.

"Since our first Investment Heroes report in 2012, the companies featured on the list have drastically changed. Back then, only one out of the top 10 companies was in the tech/internet sector. Fast forward to 2022, and we've seen new companies rise to the top of the list because of innovation and growth," said Dr. Michael Mandel. "The dramatic evolution of the Investment Heroes list shows the ever-changing competitive nature of the U.S. economy."

PPI's analysis found that capital investment stimulates massive job creation. Between 2019and 2022, the industries associated with our high-investment sectors added 1.3 million net new jobs, more than the entire rest of the private sector put together. Not only that, but many companies are investing back into training and education for their employees and new workers.

"The 2023 Investment Heroes list and analysis show it is important to recognize not only what companies are investing in America, but what companies are investing in workers," said Jordan Shapiro.

Read and download the full report here.

The Progressive Policy Institute (PPI) is a catalyst for policy innovation and political reform based in Washington, D.C. Its mission is to create radically pragmatic ideas for moving America beyond ideological and partisan deadlock. Learn more about PPI by visiting progressivepolicy.org. Find an expert at PPI and follow us on Twitter.

Media Contact: Amelia Fox – [email protected]

SOURCE Progressive Policy Institute

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