April 10, 2017
Firearms Industry Economic Impact Rises 168% since 2008
The total economic impact of the firearms and ammunition industry in the United States increased from $19.1 billion in 2008 to $51.3 billion in 2016, a 168 percent increase, while the total number of full-time equivalent jobs rose from approximately 166,000 to more than 300,000, an 81 percent increase in that period, according to a report released today by the National Shooting Sports Foundation® (NSSF®), the industry’s trade association.
On a year over year basis, the industry’s economic impact rose from $49.3 billion in 2015 to $51.3 billion in 2016, a nearly 15 percent increase.
“Our industry is proud of its strong contribution to our economy as a growing 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 Chief Executive Officer. “In response to that growing market, we have increased our direct workforce dramatically over the last decade, adding jobs that pay an average of more than $50,000 in wages and benefits. In addition, since 2008 we increased federal tax payments by 156 percent, Pittman-Robertson excise taxes that support wildlife conservation by 138 percent and state business taxes by 107 percent.”
“The Firearms and Ammunition Industry Economic Impact Report: 2017” 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.