The Sky Is Not Falling — Firearms Industry Economic Report 2018
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.
