Study: Coca-Cola helps generate EUR 446 mln of added value to the Romanian economy and 17,500 jobs

A study carried out with Coca-Cola's backing suggests that the company indirectly generates an annual added value of nearly EUR 400 million to the Romanian economy, 17,500 jobs and EUR 204 million taxes paid to the state budget.

Professor Ethan B. Kapstein from the Georgetown University analyzed the data for fiscal year 2010, concluding that the direct added value is EUR 48 million, from the two companies in Romania, Coca Cola Romania and Coca-Cola HBC Romania. Meanwhile the study claims that Coca-Cola generates a total value in the economy directly and indirectly of EUR 446 million (0.37 percent of GDP). The same thing happens with the EUR 19 million state taxes paid annually by the company, which involve payment of EUR 204 million charges to public budgets (0.57 percent of government tax revenue). General Manager for Coca Cola Hellenic Romania, Stephane Batoux explained that the result of the study shows that "every euro added value produced by Coca Cola generates another EUR 8 in the rest of the national economy. Every job at Coca Cola indirectly generates an additional 9 jobs in the rest of the economy.” In Romania, Coca Cola Hellenic runs four factories, in Iaşi, Timişoara, Ploieşti and Vatra Dornei, bottling Coca-Cola, Fanta, Sprite, Schweppes, Cappy, Nestea, Dorna, Poiana Negri, Burn and Illy. Ioana Toader, ioana.toader@romania-insider.com photo source: sxc.hu