Telecoms top investors in U.S. economy

The Progressive Policy Institute this week released its report, U.S. Investment Heroes of 2014: Investing at Home in a Connected World, which ranked the top 25 private U.S. companies by their domestic capital spending.

The top positions are held by AT&T and Verizon respectively. In fact, AT&T’s $20.9 billion in 2014 dwarfs that of the first non-telecom, Exxon Mobil’s  $11.1 billion. And number two, Verizon, isn’t far behind with $15.4 billion in capital spending.

AT&T has been atop the list for the past three years, during which time the top telecom has invested more than $60 billion in the U.S.

In general, while Internet application, hardware and service companies – such as Apple, Amazon and Google – generate most of the public’s investment attention, it is the infrastructure companies which outpace them – by a considerable margin. Google at $4.7 billion and Apple at $3.8 billion invest less than a quarter of AT&T, and a third of Verizon.

While flash products are fun, it’s investment that keeps the economy – and jobs – alive. As Progressive Policy Institute Chief Economic Strategist Michael Mandel said:

“Investment generates jobs, greater productivity, and the higher incomes Americans desire. Companies that invest in the U.S. are creating more opportunities for economic mobility and growth, and our government should implement policies that continue to encourage these companies to invest here at home.”

U.S. Investment Heroes of 2014: Investing at Home in a Connected World (Progressive Policy Institute, Sep. 10, 2014)

PPI Releases Third Annual Report Ranking U.S. Companies Investing in America's Future (PR Newswire, Sep. 10, 2014)