April 11, 2019
Firearms Industry Economic Impact Rises 171% Since 2008
NEWTOWN, Conn. — The total economic impact of the firearms and ammunition industry in the United States increased from $19.1 billion in 2008 to $52.1 billion in 2018, a 171 percent increase, while the total number of full-time equivalent jobs rose from approximately 166,000 to almost 312,000, an 88 percent increase in that period, according to a report released by the National Shooting Sports Foundation®, the industry’s trade association.
On a year-over-year basis, the industry’s economic impact rose from $51.4 billion in 2017 to $52.1 in 2018, ticking higher even while the industry came off-peak production years. Total jobs increased from nearly 311,000 to almost 312,000, in the same period.
“Our industry is proud to be one of the steady and reliable producers and manufacturers in our economy as Americans continue to exercise their fundamental right to keep and bear arms and to safely enjoy the shooting sports,” said Stephen L. Sanetti, NSSF CEO. “Our workforce is steadily adding good jobs to our local economies averaging $50,000 in wages and benefits. In addition, since 2008 we increased federal tax payments by 164 percent, Pittman-Robertson excise taxes that support wildlife conservation by 100 percent and state business taxes by 120 percent.”
The Firearms and Ammunition Industry Economic Impact Report: 2019 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.
The National Shooting Sports Foundation is the trade association for the firearms industry. Its mission is to promote, protect and preserve hunting and the shooting sports. Formed in 1961, NSSF has a membership of more than 12,000 manufacturers, distributors, firearms retailers, shooting ranges, sportsmen’s organizations and publishers. For more information, visit nssf.org.
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