New numbers released by the National Shooting Sports Foundation show the economic impact of the firearms industry has nearly doubled in the past five years, giving a much needed boost to local, state and national economies.
“We have seen dramatic, unprecedented during peacetime growth in the firearms and ammunition industry that is the direct result of consumer demand for our products in the last five years,” NSSF president and Chief Executive Officer Stephen L. Sanetti said in a statement. “While our nation’s overall economic recovery has been slow since 2008, our industry has been a true bright spot, increasing our direct workforce by nearly half, adding jobs that pay an average of more than $47,700 in wages and benefits. Supplier and induced jobs* were also increased by about half since 2008, even as we increased federal tax payments by 93 percent, Pittman-Robertson excise taxes that support wildlife conservation by 83 percent and state business taxes by 77 percent.”
In 2008, the total economic impact of the firearms industry was $19.1 billion. Five years later, this number has increased by 97 percent to $37.7 billion in 2013. Further, according to the report, the total number of full-time jobs rose from more than 166,000 to more than 245,000, a 48 percent increase since 2008.
You can read the entire report here.