Novus strives to make a positive economic impact in many countries around the globe and in many ways, both directly through the company’s core business and indirectly through the new possibilities that Novus offers to customers, local business partners and local agriculture. Novus’s offering of solutions and service not only enables increased agricultural productivity, it reduces the resources required to deliver food products. Thousands of Novus customers around the world benefit by doing more business, more profitably, and in turn, enhance their own positive impact in local economies. Another example of Novus’s indirect contribution is that the use of Novus feed supplements often enables farmers to use locally available raw materials, due to the bioavailability-enhancing properties of Novus enzymes and other products. Therefore, local farmers can be more productive and more profitable while supporting local trade. Through these “ripple effects,” Novus’s indirect economic contribution is significant.
The main direct positive economic impacts generated by Novus include:
A successful, growing business:
The overall direct impact of the Novus business continues to grow with sales increasing by over 14% in 2011 versus 2010. In addition, in 2011, Novus made acquisitions and formed business partnerships which support ongoing growth and business development. As Novus grows, so does the advancement of Novus’s mission to make a clear difference in sustainably meeting the growing global needs for nutrition and health through innovation. Such progress delivers tangible economic benefits for the global economy.
Expansion in emerging economies:
The global expansion of Novus is strongly rooted in emerging economies in Africa, India and China and their neighboring countries, thereby supporting the economic development in these regions. In each of these regions, Novus has established local entities for local manufacturing or provision of services, based on a commitment to a long-term presence and stimulation of local economic development.
Employment of over 800 people:
Novus employees are located in 43 countries in the world and over 60% are locally-hired employees in countries other than the U.S. Through Novus’s competitive employment packages, Novus enables its employees and their families to play an active economic role in their localities.
Paying taxes to local governments:
Novus maintains a presence in over 90 countries and globally pays the equivalent of over $69 million in local taxes in accordance with the law in each country of operation, thereby making a positive economic contribution to national economies. Novus ensures full compliance with all local tax regulations.
Purchase of local goods, services and raw materials:
Novus spends millions of dollars per year on the purchase of goods, services and materials to source its manufacturing operations and enable all other business activities, from logistics to IT and from office supplies to laboratory equipment and more. Wherever possible, Novus purchases from local sources, supporting local economies.
A strong commitment to science-based innovation:
Novus continues to invest heavily in R&D and field trials for all products, to deliver innovation across its business. Innovation is the root of all economic development. Novus brought over 79 innovations to the market in 2011.