March 20th, 2021

Economic Impact of Gun Industry Has Doubled since 2008

Shooting gun industry ammunition ammo economic impact revenue economy 2020

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 »

Shooting gun industry ammunition ammo economic impact revenue economy 2020
Shooting gun industry ammunition ammo economic impact revenue economy 2020

Permalink - Articles, Bullets, Brass, Ammo, News 1 Comment »
May 30th, 2018

Economic Impact of Firearms Industry, State by State

economic impact firearms gun industry state NSSF
For this chart, HowMuch.net analyzed data from the NSSF’s 2017 Firearms and Ammunition Industry Economic Impact Report to estimate gun industry output and jobs in each state.

The firearms industry is an important element of our nation’s economy. Manufacturing products for shooting, hunting, and LEO/military applications employs hundreds of thousands of workers and contributes billions of dollars to America’s GNP. The mainstream media demonizes firearms and attempts to ridicule gun-owners, but the fact remains that guns and ammo are an important part of American culture and a key element of our economy.

Guns America recently published an article showing the economic impact of the firearms industry on a state-by-state basis. This features a “money map” of the USA created by HowMuch.net based on data from the National Shooting Sports Foundation. The number one state is Texas, with $3.83 Billion of economic impact and 23,070 jobs. That may not surprise you, as many quality companies such as Shilen are based in the Lone Star state. However, you may be surprised by the number two state, California, given that jurisdiction’s liberal legislature, and anti-gun policies. But there are still plenty of guns, shooting accessories, and ammo produced in California, generating $3.64 Billion in firearms industry economic activity and over 20,000 jobs. Given that job number, perhaps California’s politicians should think twice before they enact more misguided anti-gun laws.

Weatherby Wyoming move California taxes
Weatherby is relocating from California to Wyoming, citing California’s high corporate taxes and hostile business regulations.

Here are Top Ten States, ranked in order:

1. Texas: $3.83B and 23,070 jobs
2. California: $3.64B and 20,610 jobs
3. Minnesota: $2.43B and 11,650 jobs
4. Florida: $2.39B and 14,850 jobs
5. Illinois: $2.18B and 10,681 jobs
6. North Carolina: $1.98B and 11,427 jobs
7. Pennsylvania: $1.94B and 12,436 jobs
8. Massachusetts: $1.86B and 7,116 jobs
9. New York: $1.84B and 8020 jobs
10. Ohio: $1.61B and 11,772 jobs

Ranking third overall is Michigan with $2.43 Billion in economic activity, followed by Florida close behind in fourth place with $2.39 Billion. The NSSF’s data reveals some surprising trends, notes Guns America: “While pro-gun states like Texas ($8.83B) boast a large firearms industry that employs thousands of people, states with stricter firearms regulations like California ($3.64B), Minnesota ($2.43B), Illinois ($2.18B), and Massachusetts ($1.86B) also incorporate relatively large gun industries.”

Looking at that list, it is noteworthy that, along with California, another anti-gun state, New York, has made the Top Ten. New York’s Governor Andrew Cuomo has attacked the firearms industry and the NRA, and the N.Y. State Department of Financial Services has pressured Banks and Insurance companies to stop doing business with gun industry firms. One wonders if Governor Cuomo and his minions have considered the full consequences of their anti-gun activism. Guns America observes: “it is notable that gun makers can survive at all in states like New York, California, and Massachusetts. Attacking firearm makers and sellers is one of the most common anti-gun tactics, but some companies still manage to scrape by despite increasing regulations and public hostility.”

Remington Arms factory New York

Though it has moved much of its production to Alabama, Remington retains production facilities in New York state. The Remington enterprise was founded in 1816 by Eliphalet Remington in Ilion, New York, as E. Remington and Sons. Remington is America’s oldest gun maker and is still the largest U.S. producer of shotguns and rifles.

Permalink Gunsmithing, Hunting/Varminting, News 2 Comments »
April 17th, 2018

The Sky Is Not Falling — Firearms Industry Economic Report 2018

Firearms industry economic report 2018 NSSF

While the mainstream media attacks gun owners and blue state politicians demand new anti-gun legislation, the fact remains that the firearms industry is more important to the American economy than ever. CNN and MSNBC won’t tell you that the American firearms industry is very healthy, enjoying huge growth in the last decade.

In fact, Americans are buying more guns than ever, and spending more money on firearms accessories and ammunition, according to a National Shooting Sports Foundation (NSSF) report.

The total economic impact of the firearms and ammunition industry in the United States increased from $19.1 billion in 2008 to $51.4 billion in 2017, a 169 percent increase. In addition, the total number of full-time equivalent firearms industry jobs rose from approximately 166,000 in 2008 to almost 310,000 in 2017, an 87 percent increase.

On a year-over-year basis, the industry’s economic impact rose from $51.3 billion in 2016 to $51.4 in 2017, ticking higher even while the industry came off-peak production years. Total jobs increased from approximately 301,000 to almost 311,000, a 3 percent increase in the same period.

Firearms Industry Tax Receipts Fund Conservation Programs
“Our industry is proud to be one of the truly bright spots in our economy as an unprecedented number of Americans have chosen to exercise their fundamental right to keep and bear arms and to safely enjoy the shooting sports,” said Stephen L. Sanetti, NSSF President and CEO.

“We have increased our direct workforce by more than 7,000 in the past year alone, adding jobs that pay an average nearly $50,000 in wages and benefits. In addition, since 2008 we increased federal tax payments by 144 percent, Pittman-Robertson excise taxes that support wildlife conservation by 104 percent, and state business taxes by 121 percent.”

The Firearms and Ammunition Industry Economic Impact Report: 2018 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.

NSSF 2018 Firearms Industry Economic Impact Report »

Permalink Bullets, Brass, Ammo, News 2 Comments »
April 13th, 2016

Firearms Industry is a Now a $49.3 Billion per Year Business

NSSF National Shooting Sports Economic Impact Reports 2015 2016

Guns are big money. In the past seven years, the dollars generated by the production and sales of guns and ammo have more than doubled. In fact, total economic impact of the firearms and ammunition industry in the United States increased from $19.1 billion in 2008 to $49.3 billion in 2015, a 158% increase. Meanwhile the total number of gun industry full-time jobs rose from approximately 166,000 to almost 288,000, a 73% increase in that period, according to a report released by the National Shooting Sports Foundation (NSSF), the industry’s trade association. Read NSSF Report HERE.

On a year-over-year basis, the industry’s economic impact rose from $43 billion in 2014 to $49.3 in 2015, a nearly 15 percent increase while total jobs increased from approximately 263,000 to almost 288,000, a 9 percent increase in the same period.

“Our industry is proud to be one of the truly bright spots in our economy as an unprecedented number of Americans have chosen to exercise their fundamental right to keep and bear arms and to safely enjoy the shooting sports,” said Stephen L. Sanetti, NSSF president and CEO. “We have increased our direct workforce by about 21,000 in the last two years alone, adding jobs that pay an average of more than $50,000 in wages and benefits.”

The Firearms and Ammunition Industry Economic Impact Report: 2016 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. Access the full report here.

Billion Dollar Federal Reserve Note image from Milliondollarbillshop.com.
Permalink News No Comments »