3 Reasons Why the Scrap Recycling Industry is a Major Economic Player

    3 Reasons Why the Scrap Recycling Industry is a Major Economic PlayerDid you get a chance to review the Institute of Scrap Recycling Industries (ISRI) recent report on the economic impact of the U.S. based scrap recycling industry?

    The report confirms that it's a remarkable industry that’s often misjudged and misunderstood by the public. Here are 3 key takeaways from the report:

    1. The scrap recycling industry is huge!

    • It provides almost 500,000 jobs, approximately $31 billion in wages, and $105 billion in economic impact.
    • It accounts for 0.68 % of U.S. total economic activity, and is about the same size as automotive repair and data processing industries.

    2. It generates substantial tax revenues.

    • Local, state, and federal governments receive approximately $4.39 billion in state and local taxes, and $6.76 billion in federal taxes.
    • The revenues help people and communities in every state.

    3. It's among the nation's largest exports by value.

    • The industry generates approximately 125,000 jobs, $8.5 billion in wages, and $28 billion in overall economic impact.
    • Many materials, including post-consumer paper and electronics, wouldn’t be recycled at all if they couldn’t be exported, because there’s no demand for them in the U.S.

    The scrap recycling industry is a significant contributor to our economy and environmental protection. You can download the full report here: Economic Impact Study: U.S. Based Scrap Recycling Industry (2015)

     

    Posted by Steve Phelps


    Comments

          

    Subscribe to Email Updates

    Leasing Available. Estimate Your Monthly Payments. Get the Calculator.
    Download the Free Commercial Container Buyer's Guide