Firearms Industry Economic Impact
Rises 125% 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 $42.9 billion in 2014, a 125 percent increase, while the total number of full-time equivalent jobs* rose from approximately 166,000 to more than 263,000, a 58 percent increase in that period, according to a new report released today by the National Shooting Sports Foundation, the industry’s trade association.
“We have seen continued dramatic growth in the firearms and ammunition industry that is the direct result of consumer demand for our products since 2008,” said Stephen L. Sanetti, NSSF president and chief executive officer. “In our nation’s economic recovery since that year, our industry has been a standout, increasing our direct workforce by 78 percent, adding jobs that pay an average of more than $52,000 in wages and benefits. Wildlife conservation is the real winner here, as we increased federal tax payments by 108 percent, Pittman-Robertson excise taxes that support wildlife conservation by 145 percent and state business taxes by 106 percent. And gratifyingly, throughout this period of growth, both criminal and accidental misuses of firearms continued to drop.”
The Firearms and Ammunition Industry Economic Impact Report: 2014 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.
*These include jobs in companies supplying goods and services to manufacturers, distributors and retailers, as well as those that depend on sales to workers in the firearms and ammunition industry.
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 11,000 manufacturers, distributors, firearms retailers, shooting ranges, sportsmen’s organizations and publishers. For more information, visit nssf.org.