At a Capitol Hill breakfast briefing last week, the National Shooting Sports Foundation (NSSF) released a newly commissioned report detailing the significant economic impact the firearms and ammunition industry has on the nation’s and each state’s economy. The report showed that the firearms and ammunition industry had a $27.8 billion economic impact on the U.S. in 2009, up from $19.2 billion in 2008.
The report also found the year-over-year jobs grew from 166,200 to 183,424, wages increased from $6.36 million to $8,21 million.
“During difficult economic times and high unemployment rates nationally, our industry actually grew and created 16,800 new, well-paying jobs,” said NSSF President Steve Sanetti. “Our industry is proud to be one of the bright spots in this economy.”
Regarding taxes, federal taxes increased from $1.5 million to $2.04 million; state taxes rose from $1.3 million to $1.9 million, and excise taxes grew from $327.1 million to $450.2 million.
NSSF said tThe economic growth America’s firearms and ammunition industry experienced last year 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 coincided with the continued decline in accidental firearm-related deaths (more than a 60% 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 – this tax is the major source of wildlife conservation funding in America.
“In 2009 our industry increased its contribution to wildlife conservation by over 37.6%, which translates into sportsmen contributing more than $7.5 million dollars daily to conservation efforts,” said NSSF Senior Vice President and General Counsel Lawrence G. Keane.
“Ours is an industry with a storied past, steeped in tradition and a rich heritage,” continued Keane. “We were there at the beginning of America’s economic expansion and remain a vital and important American industry. 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 new jobs in their communities.”
Formed in 1961, NSSF has a membership of more than 5,500 manufacturers, distributors, firearms retailers, shooting ranges, sportsmen’s organizations and publishers.
