Dallas ranks ninth in the world and fourth in the nation as a headquarters site for multinational corporations. More than 550 foreign-owned companies have created 41,000 jobs right here in the Metroplex. And the DFW area is home to four foreign trade zones. In the package delivery industry, globalization means that we must knit together worldwide distribution networks that match our customers' geographic operations. If we don't, our competitors will.
Global expansion is much easier said than done.
Among other things, you have to attain air rights into each country. You have to navigate a patchwork of customs laws. You have to deal with different work ethics and employment policies. And you have to be prepared to lose money in the short term to make money in the long term. These are the lessons UPS learned when we began our rapid global expansion back in the mid-1980s.