Donald Trump’s election to the White House has inadvertently slowed gun sales as many Second Amendment supporters no longer fear strict gun control. But as a result, the nation’s economy – both public and private sectors – might have to bite the bullet, and some states could take a bigger hit than others.
In its latest impact report, The National Shooting Sports Foundation (NSSF), the leading trade association for the firearms industry, estimates that the gun arena has created around 30,000 jobs over the past three years. And in 2016 alone, it is reported to have contributed more than $51 billion to the country’s economy and a further $7.4 billion in federal and state taxes.
“The economic growth America’s firearms and ammunition industry has experienced over the years has been nothing short of remarkable,” the NSSF stated. “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.”
The NSSF insists that broader economic impact flows throughout the economy, “generating business for firms seemingly unrelated to firearms,” such as in banking, retail, accounting, metal working, even in printing, all depend on the firearms and ammunition industry for their livelihood.