Firearm Industry Economic Impact Rises 213 Per Cent Since 2008
The total economic impact of the firearm and ammunition industry in the United States increased from $19.1 billion in 2008 to $60 billion in 2019, a 213-percent increase, while the total number of full-time-equivalent jobs rose from approximately 166,000 to over 332,000, a 100-percent increase in that period, according to a report released by the National Shooting Sports Foundation (NSSF), the firearm industry trade association for the US.
On a year-over-year basis, the industry’s economic impact rose from $52 billion in 2018 to $60 billion in 2019. Total jobs increased by 20,000 in the same period, from nearly 312,000 to over 332,000. The broader impact of the industry flows throughout the economy and supports and generates business for firms seemingly unrelated to firearms, working in industries as varied as banking, retail, accounting, metalworking and printing, among others.
The firearm and ammunition industry paid over $6.74 billion in business taxes, including property, income and sales-based levies.
“Our industry continues to show the steady and reliable growth that is a hallmark of a healthy industry,” said Joe Bartozzi, NSSF President and CEO. “The workers who comprise our ranks are the fabric of our communities. They produce the highest quality firearms and ammunition that millions of law-abiding Americans rely upon to exercise their fundamental right to keep and bear arms and safely enjoy the recreational shooting sports. This growth translates to more jobs that add to our local economies, averaging $55,200 in wages and benefits. In addition, since 2008 we increased federal tax payments by 162 percent, Pittman-Robertson excise taxes that support wildlife conservation by 79 percent and state business taxes by 116 percent.”