Report details manufacturers’ economic contributions

By |  March 17, 2017

The equipment manufacturing industry supported about 1.3 million jobs and contributed more than $159 billion to the gross domestic product (GDP) of the United States in 2016, according to an Association of Equipment Manufacturers (AEM) report.

The report, which was unveiled at ConExpo-Con/Agg 2017, details the size and reach of three sectors – construction, agriculture and energy – that make up the core of the equipment manufacturing industry. The report identified a number of key findings, including:

  • Equipment manufacturers supported more than 1.4 million jobs between the U.S. and Canada in 2016 through direct, indirect and induced employment effects.
  • Equipment manufacturers supported more than $416 billion in sales activity in the U.S. in 2016, adding almost $159 to the GDP of the U.S.
  • The top four states for the equipment manufacturing industry in 2016 were Texas, Illinois, Wisconsin and Ohio.
  • Equipment manufacturers generated more than $25 billion in local, state and federal tax revenue in the U.S. last year.
  • Equipment manufacturers generated almost $87 billion in total U.S. labor income last year.
  • The equipment manufacturing industry supported about 149,000 jobs in Canada in 2016 and contributed about $15 billion to the economy of Canada.

“This new report helps to put into context the many great contributions of our industry,” says AEM President Dennis Slater. “Our industry is a core part of America’s manufacturing economy, and we are eager to continue to grow, and, hopefully with a significant investment in our infrastructure, help put millions of Americans to work.”

The full report also includes details on the key economic indicators that affect the equipment manufacturing industry, as well as forecasts for the coming years.

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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