Economic Impact of Gun Industry Has Doubled since 2008
The total economic impact of the firearm and ammunition industry in the United States increased from $19.1 billion in 2008 to $63.5 billion in 2019, a 232% increase, while the total number of full-time equivalent jobs rose from approximately 166,000 to over 342,330, a 106% increase in that period, according to a report released by the National Shooting Sports Foundation, the industry’s trade association.
In just the last year, the industry’s economic impact rose from $60 billion in 2019 to $63.5 billion in 2020. Total jobs increased by 10,000+, from nearly 332,000 to over 342,330. The NSSF states: “The broader impact of the industry throughout the economy supports and generates business for firms seemingly unrelated to firearms, at a time when every job in America counts. These are real people, with real jobs, working in industries as varied as banking, retail, accounting, metalworking, and printing among others.”
The firearms/shooting industries help fund vital public services, by generating billions in Federal and state tax revenues. Since 2008 the gun industry has increased federal tax payments by 170%, state business taxes by 125% and Pittman-Robertson excise taxes that support wildlife conservation by 89%.
READ Full NSSF Economic Impact Report HERE »
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Tags: Firearms Economic Report, Gun Industry, NSSF
All that tax going to fund quite a few enemies of the gun biz.
That is surely annoying, to say the least.