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Economic Impact of Firearm Industry More Than Doubles During Obama Presidency

Economic Impact of Firearm Industry More Than Doubles During Obama Presidency

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, according to a new report released last week by the primary trade association representing the industry. The time period reflects the years since President Barack Obama has been in office. During those years, the Administration has made continued efforts to restrict or prohibit certain type of firearms and ammunition.

The report, compiled by the National Shooting Sports Foundation, also indicated that the increase was mirrored in the number of “full-time equivalent jobs” within the industry, which rose from approximately 166,000 to more than 263,000, a 58 percent increase. The jobs were within 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 total economic impact increase reflected a 125-percent leap, a formidable increase during a period of relatively sluggish overall economic climate across the country.

“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.

Sanetti pointed out that the firearms and ammunitions industry has been on the forefront of the country’s economic recovery, increasing its direct workforce as well as 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. Sanetti said. “And gratifyingly, throughout this period of growth, both criminal and accidental misuses of firearms continued to drop.”

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