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Firearms industry impact report shows economic bright spot

From the National Shooting Sports Foundation

-- The National Shooting Sports Foundation, the trade association for the firearms and ammunition industry, has released a newly commissioned report detailing the significant economic impact the firearms and ammunition industry has on the nation's and each state’s economy.

Firearms and Ammunition Industry Economic Impact

For the past two years, the impact of the firearms and ammunition industry provided a total of 166,220 jobs in 2008, increasing to 183,424 jobs in 2009. Income or wages earned totaled $6,361,205,400 in 2008 and jumped to $8,210,881,000 in 2009. The positive economic impact on the U.S. economy in 2008 was $19,199,634,700 in 2008 which increased $8 billion in 2009 to $27,846,304,300.

“During difficult economic times and high unemployment rates nationally, our industry actually grew and created 16,800 new, well-paying jobs,” said NSSF President Steve Sanetti. “Our industry is proud to be one of the bright spots in this economy.”

Taxes

Federal, state and excise taxes paid increased as well. In 2008, federal taxes paid were $1,503,740,471, which increased to $2,035,154,440 during 2009. State taxes in 2008 totaled $1,299,088,678 while those paid in 2009 totaled $1,909,417,793. Excise taxes bounced from $327,070,867 paid in 2008 to $450,177,780 paid in 2009.

The economic growth America's firearms and ammunition industry experienced last year was driven by an unprecedented number of Americans choosing to exercise their fundamental right to keep and bear arms and purchase a firearm and ammunition. This coincided with the continued decline in accidental firearm-related deaths (more than a 60 percent decrease in the last 20 years) and a continued drop in crime rates nationally.

Also cited in the economic impact report were the significant taxes paid by industry member companies to federal and state governments and the Pittman-Robertson excise tax the industry pays on the products it sells--this tax is the major source of wildlife conservation funding in America.

“In 2009 our industry increased its contribution to wildlife conservation by over 37.6 percent, which translates into sportsmen contributing more than $7.5 million dollars daily to conservation efforts,” said NSSF Senior Vice President and General Counsel Lawrence G. Keane.

“Ours is an industry with a storied past, steeped in tradition and a rich heritage,” continued Keane. “We were there at the beginning of America’s economic expansion and remain a vital and important American industry. We look forward to speaking with members of Congress today about important legislative and regulatory issues that will allow our industry members to continue to grow their businesses and create new jobs in their communities.”

About NSSF: The National Shooting Sports Foundation is the trade association for the firearms industry. Its mission is to promote, protect and preserve hunting and the shooting sports. Formed in 1961, NSSF has a membership of more than 5,500 manufacturers, distributors, firearms retailers, shooting ranges, sportsmen's organizations and publishers. For more information, log on to www.nssf.org.

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