Firearms Industry Economic impact rises 371% since 2008.According to a report by the NSSF (r), The Firearm Industry Trade Association, the total economic impact of firearms and ammo industry in the United States has increased from $19.1 Billion in 2008 to $90.05 Billion in 2023. The number of full-time jobs also increased from 166,000 to 384,437 in that time period, a 131% rise. The economic impact of the firearms and ammunition industry increased from $80.73billion in 2022 to $90.05billion in 2023. The firearm industry impacts the entire economy. It generates and supports business for companies that are not directly related to firearms. These include firms in banking, retailing, accounting, metalworking, and printing. The Shooting Industry Generates $11.8 billion in Tax Revenues
The firearms and ammunition industry paid more than $10.90 billion dollars in business taxes, including income-based, property-based, and sales levies. Federal excise tax of $944 million contributed directly to wildlife conservation. The combined revenue from business and excise tax amounts to $11.8 billion! “Our industry is an important economic contributor for every state and community.” Joe Bartozzi is the President and CEO of NSSF. He said that these companies employ men and women from every walk of life, and they demonstrate daily how strong the American firearms and ammunition industry really is. “This industry provides law-abiding Americans with the means to exercise their Second Amendment right, enables them hunt and is the main fiscal force behind wildlife preservation in America,” said Joe Bartozzi, NSSF President and CEO. The growth of the firearms industry means more jobs, which add to our local economies. This is averaging $67.500 in wages and benefit, up from $65,000 last year. Since 2008, federal tax payments have increased by 353%. Pittman-Robertson taxes on firearms and ammo that support wildlife conservation have increased by 168%. State business taxes are up by 215%.
In the United States, companies that manufacture, distribute and sell firearms and hunting equipment, ammunition and accessories employ 154,611 workers and create an additional 229 826 jobs in related industries. This includes jobs that are dependent on sales of goods and services for manufacturers, distributors and retailers as well as those that are dependent on sales to employees in the firearm and ammo industry. The annual Firearm and Ammunition Industry Economic Impact Report includes a state-bystate breakdown of employment numbers, wages and output, including direct, supplier and indirect employment, as well federal excise tax paid. CLICK HERE to download the 7-page NSSF Report (PDF).
