Firearms Industry Economic Impact Rises 169% Since 2008
April 12, 2018
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, while the total number of full-time equivalent jobs rose from approximately 166,000 to almost 310,000, an 87 percent increase in that period, according to a report released today by the National Shooting Sports Foundation, the industry's trade association.
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.
"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. "In response to that dynamic, 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. Access the full report here.