Did 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)