As the industry enters the summer months, there's a feeling of trepidation among some retailers, distributors and manufacturers. However, amidst reports of a "Trump Slump," the industry has since posted two consecutive months of background check increases over 2016--with March and April's NSSF-adjusted NICS figures up 5.2 and 0.04 percent, respectively. While April's increase is marginally higher over April 2016, it's a positive development.
Prior to this year's Congressional Fly-In, NSSF released the 2017 Firearms and Ammunition Industry Economic Impact Report. This report was a valuable tool used in meetings with congressmen and senators, as it provided a state-by-state breakdown of jobs, wages and economic output generated by the industry.
Since 2008, the industry has posted noticeable growth across several measures:
* The overall economic impact of the industry has surged from $19.1 billion in 2008 to $51.3 billion in 2016 (169% increase).
* Jobs in the industry have grown by 81 percent to 301,123.
* Total wages more than doubled (137%) from $6.4 billion to $15.2 billion.
* Taxes generated by the industry have increased at the federal and state level, from $1.5 and $1.3 billion to $3.8 and $2.7 billion, respectively. This totals $6.5 billion in taxes generated in the U.S.
These numbers reveal a burgeoning firearms, ammunition and hunting industry. Even though fear will not be a strong selling factor over the short-term, a variety of...