Firearm Industry's Economic Impact Increases in 2017

by
posted on April 18, 2018
gun-industry-sales-profits-f.jpg

The total number of NICS checks—an oft-cited relative barometer of firearm sales nationwide— remained strong in 2017, leading to new highs in terms of the industry’s economic impact. In fact, according to the National Shooting Sports Foundation’s (NSSF) “Firearms and Ammunition Industry’s Economic Impact Report: 2018,” the total amount contributed to the economy by the firearm industry increased by $100 million over the past year.

Overall, “…in 2017 the firearms and ammunition industry was responsible for as much as $51.41 billion in total economic activity in the country,” the report reads. “The broader economic impact flows throughout the economy, generating business for firms seemingly unrelated to firearms. Real people, with real jobs, working in industries as varied as banking, retail, accounting, metal working, even in printing, all depend on the firearms and ammunition industry for their livelihood.”

Employment figures also grew. Jobs created by the industry increased by more than 9,000 in 2017 when compared to 2016. “Regardless of economic conditions across the country, our industry has grown and created about 91,000 new, well-paying jobs over the past five years,” according to the NSSF. Roughly 149,113 are directly employed in the field and their work keeps another 161,795 on the job providing a variety of services.

Tax revenue generated by the industry in 2017—including sales, income, property, etc. levies paid by employees—totaled $6.78 billion. The major portion of that figure is from Federal business taxes that came to $3.9 billion, but another $2.9 billion was collected  by state agencies.

The top-10 states in number of people directly employed in the firearm industry were; Texas, California, Florida, Ohio, Pennsylvania, Illinois, New York, Minnesota, Missouri and North Carolina, respectively.  New Hampshire leads the way in jobs per capita and California claims top honors for total economic output.  Texas firearm firms lead in Federal excise-tax payments.

Latest

Sheriff Jim Wilson
Sheriff Jim Wilson

There Is No Sanctuary

Carrying a defensive pistol inside the home should be the same as carrying one outside of the home.

First Look: Federal Premium Force X2 Shorty 00 Buckshot

A new option in 1¾-inch defensive shotgun ammunition.

First Look: ZeroTech Thrive HD First Focal Plane Riflescopes

Two new ruggedized scopes from the land down under.

Review: We the People IWB Holster and Tactical Gun Belt

A kydex holster and gun belt designed for no-nonsense everyday use.

I Carry: Walther WMP 22 WMR Pistol in a PHLster Holster

Today on I Carry we have the new Walther WMP pistol chambered in 22 WMR, carried in a PHLster Floodlight holster along with an SOG Power Access Deluxe multi-tool.

First Look: Colt Combat Unit 1911 Pistols

New 1911-style pistols designed under the guidance of some of America’s toughest warriors.

Interests



Get the best of Shooting Illustrated delivered to your inbox.