Shooting Industry Adds $90 Billion to U.S. Economy Annually

Firearms Industry Economic Impact Rises 371% Since 2008
The total economic impact of the firearms and ammunition industry in the United States increased from $19.1 billion in 2008 to $90.05 billion in 2023, a 371% increase, while the total number of full-time equivalent jobs rose from approximately 166,000 to over 384,437, a 131% increase in that period, according to a report released by the NSSF®, The Firearm Industry Trade Association.

On a year-over-year basis, the industry’s economic impact rose from $80.73 billion in 2022, to $90.05 billion in 2023. The firearm industry has broader impacts throughout the economy. It supports and generates business for firms seemingly unrelated to firearms, such as banking, retail, accounting, metal working, and printing among others.

Shooting Industry Generates $11.8 Billion in Tax Revenues
The firearm and ammunition industry paid over $10.90 billion in business taxes, including property, income, and sales-based levies. An additional $944 million was paid in Federal excise taxes, which directly contributes to wildlife conservation. The combined business and excise taxes adds up to a total of $11.8 billion in tax revenue!

“Our industry is a vital economic contributor to every state and every community. These are companies employing men and women from all walks of life and they prove daily that the American firearm and ammunition industry is strong”, said Joe Bartozzi, NSSF President and CEO. “This industry proudly provides the means for law-abiding citizens to exercise their Second Amendment rights, enables them to hunt and is the primary fiscal force behind wildlife conservation in America. The growth of the firearm industry equals more jobs that add to our local economies, averaging $67,500 in wages and benefits, up from $65,000 reported last year. Since 2008, federal business tax payments increased by 353%, Pittman-Robertson excise taxes on firearms and ammunition that support wildlife conservation by 168% and state business taxes by 215%.”

Firearms and Ammunition Industry is Vital Part of America’s Economy
Companies in the United States that manufacture, distribute, and sell firearms, ammunition, and hunting equipment employ as many as 154,611 people in the country and generate an additional 229,826 jobs in ancillary industries. These include jobs in supplying goods and services to manufacturers, distributors, and retailers, and those that depend on sales to workers in the firearm and ammunition industry.

The annual Firearm and Ammunition Industry Economic Impact Report provides a state-by-state breakdown of job numbers, wages and output covering direct, supplier and induced employment, as well as federal excise taxes paid. CLICK HERE to get the full 7-page NSSF report (PDF).

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Tags: Conservation tax, Gun Industry Taxes, NSSF, Shooting Industry