Estimated reading time: 3 minutes
In a dramatic display of economic growth, the gun industry in the United States has seen its impact skyrocket.
From a respectable $19.1 billion back in 2008, the industry now boasts a staggering $90.05 billion in economic impact as of 2023.
That’s a jaw-dropping 371% surge over 15 years! Jobs? They’re up too — from about 166,000 full-time roles to over 384,437, marking a 131% jump.
Year-on-year growth paints an equally impressive picture. From 2022 to 2023, the industry’s economic footprint expanded from $80.73 billion to $90.05 billion.
But here’s the kicker: the industry’s influence stretches far beyond its direct scope. It’s a powerful economic engine, supporting and creating opportunities across various sectors — from banking and retail to metal working and printing.
The message is clear: these jobs aren’t just numbers; they’re a lifeline for countless Americans in diverse fields.
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Financially, the industry has been equally robust. Over $10.90 billion were poured into business taxes, covering the gamut from property to income and sales.
And let’s not forget the wildlife conservation sector, which received a generous $944 million through federal excise taxes.
Joe Bartozzi, President and CEO of the NSSF, the Firearm Industry Trade Association, is rightly proud.
“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,” he said in a press release obtained by GunsAmerica.
The industry isn’t just about enabling Second Amendment rights or supporting hunting activities; it’s a major player in wildlife conservation in America.
And the numbers keep impressing. On average, employees in the sector earn about $67,500, up from $65,000 just a year ago. Talk about growth!
Since 2008, federal business tax payments have surged by 353%, while Pittman-Robertson excise taxes (key to wildlife conservation) have shot up by 168%. State business taxes? They’ve increased by 215%.
Interested in the nitty-gritty details?
The annual Firearm and Ammunition Industry Economic Impact Report breaks it down state by state, covering jobs, wages, output, and taxes. This comprehensive report offers a deep dive into how the industry shapes the U.S. economy.
Check it out embedded below:
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