Economic Impact of Gun Industry Continues Exponential Growth Over Past 16 Years

by Tommy Grant

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The total economic impact of the firearm and ammunition industry in the United States increased from $19.1 billion in 2008 to $90.05 billion in 2023, a 371 percent increase, while the total number of full-time equivalent jobs rose from approximately 166,000 to over 384,437, a 131 percent increase in that period, according to a report released by the NSSF.

On a year-over-year basis, the industry’s economic impact rose from $80.73 billion in 2022, to $90.05 billion in 2023. The firearm industry has broader impacts throughout the economy. It supports and generates business for firms seemingly unrelated to firearms, at a time when every job in America counts. These are real people, with real jobs, working in industries as varied as banking, retail, accounting, metal working and printing among others.

The firearm and ammunition industry paid more than $10.90 billion in business taxes, including property, income and sales-based levies. An additional $944 million was paid in federal excise taxes, which directly contributes to wildlife conservation.

“Our industry is a vital economic contributor to every state and every community. These are companies employing men and women from all walks of life and they prove daily that the American firearm and ammunition industry is strong,” said Joe Bartozzi, NSSF President and CEO. “This industry proudly provides the means for law-abiding citizens to exercise their Second Amendment rights, enables them to hunt and is the primary fiscal force behind wildlife conservation in America. The growth of the firearm industry equals more jobs that add to our local economies, averaging $67,500 in wages and benefits, up from $65,000 reported last year. Since 2008, federal business tax payments increased by 353 percent, Pittman-Robertson excise taxes on firearms and ammunition that support wildlife conservation by 168 percent and state business taxes by 215 percent.”

The annual Firearm and Ammunition Industry Economic Impact Report 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. Access the full report here.

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