April 19, 2012
Firearms Industry Helps Lead Economic Recovery; New Study Shows Growth in Jobs, Taxes Paid and Sales
NSSF today released a newly commissioned report detailing double-digit gains in jobs and other data showing the industry has been a leader in the nation’s economic recovery. The report can be viewed at http://nssf.org/impact.
Firearms industry members on Capitol Hill were briefed on such remarkable statistics as the 30.6 percent increase in jobs between 2008 and 2011, a 66.5 percent increase in economic impact and a 66.5 percent increase in federal taxes paid by industry companies.
Armed with the good news of the report and recognizing that jobs and the economy are of major importance in the November elections, industry executives are meeting today with elected officials during the NSSF-sponsored Congressional Fly-In.
“During difficult economic times and high unemployment rates nationally, our industry actually grew and created more than ten thousand new, well-paying jobs,” said NSSF President Steve Sanetti. “Our industry is proud to be one of the bright spots in this economy.”
|Key Points: Firearms and Ammunition Industry Economic Impact|
|Key Points: Taxes|
The firearms industry has stood apart from other industries by thriving in a down economy. Indicators such as background-check statistics, firearms production and importation, firearm-retailer surveys and on-the-ground reports from retailers nationwide reveal that Americans are purchasing firearms in record numbers. For example, federal background checks for March totaled nearly 1.2 million in adjusted figures, representing an increase of 20 percent over a year ago and the 22nd straight month-over-month increase. (NSSF adjusts figures from the National Instant Criminal Background Check System to remove purpose-code checks associated concealed carry applications and permits. Though not a direct correlation to firearm sales, adjusted NICS figures provide a more accurate picture of market conditions.)
This year’s robust sales are a continuation of the economic growth the firearms and ammunition industry experienced last year that was driven by an unprecedented number of Americans choosing to exercise their fundamental right to keep and bear arms and purchase a firearm and ammunition. This increase in firearms ownership coincided with the continued decline in accidental firearm-related fatalities–a more than a 60 percent decrease in the last 20 years–and a continued drop in crime rates nationally.
Also cited in the economic impact report were the significant taxes paid by industry member companies to federal and state governments and the Pittman-Robertson excise tax the industry pays on the products it sells. The latter tax is the major source of wildlife conservation funding in America.
“Last year our industry increased its contribution to wildlife conservation by over seven percent, which translates into sportsmen contributing more than 1.3 million dollars daily to conservation efforts,” said NSSF Senior Vice President and General Counsel Lawrence G. Keane.
“Ours is an industry with a rich history and heritage that remains vital and important to the American economy today,” continued Keane. “To millions of Americans our industry’s products represent liberty, security and recreation. We look forward to speaking with members of Congress today about important legislative and regulatory issues that will allow our industry members to continue to grow their businesses and create even more new jobs in their communities.”