Firearms Industry’s Economic Impact Soars

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 the “Firearms and Ammunition Industry Economic Impact Report: 2019,” recently released by NSSF.

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,” says Steve 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. The full report can be accessed at bit.ly/2vyrxi5.

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