The equipment-manufacturing industry supported about 1.3 million jobs and contributed over $159 billion to the Gross Domestic Product (GDP) of the United States in 2016, according to a report issued by the Association of Equipment Manufacturers (AEM).
The report was prepared by IHS Markit and details the size and reach of the three major 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 over 1.4 million jobs between the United States and Canada in 2016, through direct, indirect and induced employment effects.
- Equipment manufacturers supported over $416 billion in sales activity in the United States in 2016, and added almost $159 to the GDP of the United States
- The top four biggest states for the equipment manufacturing industry in 2016 were: Texas, Illinois, Wisconsin and Ohio
- Equipment manufacturers generated over $25 billion in local, state and federal tax revenue in the United States in 2016
- Equipment manufacturers generated almost $87 billion in total U.S. labor income in 2016
“AEM is proud to represent the men and women of the equipment manufacturing industry across our country” said AEM President Dennis Slater. This new report helps to put into context the many great contributions of our industry. 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—available here—also includes details on the key economic indicators that affect the equipment manufacturing industry, as well as forecasts for the coming years.