The 2016 Firearms and Ammunition Industry Economic Impact Report was released last week by the National Shooting Sports Foundation. As the title suggests, this comprehensive report details the economic impact that the firearms and ammunition industry has on the economy of the United States and on each of its individual states.
While it is no secret that shooting sports are alive and well, the industry’s growth has been nothing short of amazing, driven by the growing number of safe and responsible gun owners across America. The report also details all taxes paid by member companies to federal and state governments along with the Pittman-Robertson excise tax.
These taxes are applicable to all products sold within the industry and are a driving force for funding the majority of wildlife conservation in the United States.
The numbers are astounding.
According to the newly-published report, the total economic impact of the firearms and ammunition industry of the United States increased from $19.1 billion in 2008 to $49.3 billion in 2015. For those without lightning fast math skills or a calculator, these numbers represent an increase of 158 percent.
From a year-over-year standpoint, the industry’s economic impact rose nearly 15 percent from 2014 to 2015.
“Our industry is proud to be one of the truly bright spots in our economy as an unprecedented number of Americans have chosen to exercise their fundamental right to keep and bear arms and to safely enjoy the shooting sports,” Stephen L. Sanetti, NSSF president and chief executive officer said in the press release. “In response to that dynamic, we have increased our direct workforce by about 21,000 in the last two years alone, 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 144 percent, Pittman-Robertson excise taxes that support wildlife conservation by 92 percent and state business taxes by 96 percent.”
The firearms industry is an unbeatable creator of jobs employing a total of 287,986 jobs, including those jobs in supplier and ancillary industries, paying an average salary of $50,180.
In 2015, the firearms and ammunition industry accounted for as much as $49.29 billion in total economic activity in the United States and generates sizable tax revenues. The industry and those employed by it pay over $6.2 billion in federal and state taxes, in which Texas, California and Ohio round out the top three states for total excise tax revenues.
To learn more about how the industry benefits shooting enthusiasts, hunters, anglers and the United States economy as a whole, read the full report here.