Report Defines Economic Impact of U.S. Insulation Industry
Originally published by the following source: American Chemistry Council — February 12, 2017
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The American Chemistry Council has put together a report detailing the contributions the insulation industry has made to the nation’s economy. Here are the highlights:
- The use of insulation in U.S. homes in businesses saves energy, putting more money in the pockets of households and business owners. In addition, by consuming less energy, use of insulation directly reduces greenhouse gas emissions.
- Beyond the many benefits of the use of insulation, the manufacture, distribution, and installation of insulation generates nearly 400,000 jobs in the U.S. and more than $20 billion in payrolls that support families and local communities around the country.
- An $11.7 billion business in 2016, insulation manufacturing in the U.S. directly employs more than 33,000 people across 42 states.
- Indirectly, through its purchases of supplies, raw materials, equipment, and services, insulation manufacturing supports an additional 42,500 jobs in supply-chain industries. Through the household spending of the wages and salaries paid to workers in insulation manufacturing and their suppliers an additional 49,000 payroll-induced jobs are supported.
- Thus, the economic activity from U.S. insulation manufacturing supports nearly 125,000 jobs. These jobs generate payrolls of $7.5 billion.
- In addition, the combined economic activity supported by insulation manufacturing contributes $1.1 billion to state and local governments and $1.9 billion in federal tax revenues.