Earlier this week, OPIC reported strong financial results for Fiscal Year 2012, including net income of $272 million, and a 30 percent increase in financial commitments to American businesses investing in emerging markets abroad.
The fact that these results were achieved with a full-time staff of just 220 underscores the efficiency of OPIC’s operation. The agency’s profit-per-employee in 2012 worked out to $1.2 million, far surpassing many of the world’s most successful private companies, such as Apple Inc., which last year earned a profit-per-employee of about $400,000.
OPIC is able to perform at such a high level while addressing some of the world’s greatest development challenges, partly by leveraging private-sector capital. Every dollar of OPIC support has leveraged, on average, about $2.70 in private sector investment. OPIC is also an active partner with other U.S. government agencies.
The agency’s record of earning a substantial net profit means it has helped reduce the federal deficit for 35 straight years, while operating at no net cost to the American taxpayer.
OPIC committed more than $3.6 billion to development projects in Fiscal Year 2012, including almost $1.6 billion to renewable resources projects, $907 million to projects in Sub-Saharan Africa, and $878 million for projects in the Middle East and North Africa (MENA). Nearly two-thirds of OPIC’s projects in Fiscal 2012 were with U.S. small businesses.
For a more detailed look at Fiscal Year 2012 results, see our recent press release.