Firearms industry has returned robust results in the midst of recession.
A recent report by the National Shooting Sports Foundation (NSSF), a trade association for the firearms industry which boasts membership of more than 5,500 manufacturers, distributors, firearms retailers, shooting ranges, sportsmen organizations and publishers, has offered a glimpse into the economic impact of the industry.
The report underscores that “over the past couple of years, the industry’s growth has been driven by an unprecedented number of Americans choosing to exercise their fundamental right to keep and bear arms and purchase a firearm and ammunition.”
According to the report, the industry employs close to 183,425 people with 88,200 as direct employees. The jobs in the industry pay an average salary of $44,765 per annum.
The total number of jobs increased to 183,000 in 2009 from 166,200 in 2008. The wages disbursed by the sector increased to $8.2 billion in 2009 from $6.4 billion in 2008.
The industry paid $1.9 billion in federal taxes and $2 billion in state taxes in the year 2009, compared to $1.3 billion and $1.9 billion respectively in 2008.
The economic impact of the overall industry was $27.8 billion in 2009 compared to $19.1 billion in 2008.
The states which produced the highest number of direct jobs in the firearms industry, according to the report, were California, Texas, Florida and Pennsylvania.
Source: Carl Bagh for International Business Times.