New Report Outlines Economic Impact of Moving and Storage Industry
ARLINGTON, Va., Dec. 15, 2021 /PRNewswire/ -- Today, the American Trucking Associations’ Moving and Storage Conference released a new report that found the sector supports more than 186,000 jobs in the United States and has $32.2 billion in direct economic activity.
“Every day, an American is moving into a new home, a new apartment or a new office,” said MSC Executive Director Katie McMichael. “This report shows clearly how important this sector is, not just to the trucking industry but to the economy overall.”
The report, prepared by John Dunham & Associates Inc., breaks down the economic impact of the moving industry across the country and in specific states.
Among the findings:
- In 2021, the moving and storage industry directly supported 186,382 jobs, in addition to indirectly supporting 121,968 jobs and inducing 173,420 for a total impact of 481,770 jobs.
- The moving industry directly generated $32.2 billion in economic activity, but total economic activity including indirect and induced economic activity totaled $92.2 billion.
- The industry paid $12.8 billion in wages in 2021.
- Moving and storage businesses paid $10.6 billion in state and federal business taxes in 2021.
“We have known for some time how important this industry is to the country, but this report shows how much we contribute – not just to individual families, service members, and companies who rely on our services – but to our communities and to the economy as a whole,” said Moving & Storage Institute Chairman Jack Griffin, chairman and CEO of Atlas World Group Inc.
The updated economic impact study was funded by the Moving & Storage Institute, a 501c3 organization affiliated with ATA’s MSC.
American Trucking Associations is the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nation’s freight. Follow ATA on Twitter or on Facebook. Trucking Moves America Forward
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SOURCE American Trucking Associations’ Moving and Storage Conference