The Economic Impact Of the American Forklift Industry

The Industrial Truck Association commissioned Oxford Economics to conduct research, analysis, and impact modeling to clearly define the economic contribution of the industrial truck manufacturing sector and its service impact in America. This report highlights the importance of the industry to the American economy in terms of jobs, wages, tax revenue, and GDP.

Click here to view the full report.

100 YEARS – The industrial truck manufacturing sector has been an important and active part of the American economy for 100 years.

For each worker directly employed by the industrial truck sector, a further 2.5 jobs are supported in the wider economy.

OCCUPATION PROFILE OF INDUSTRIAL TRUCK MANUFACTURING -Production – 50.1%
Office & Administration Support – 11.5%
Engineering – 10.4%
Managment – 6.0 %
Installation, Maintenance, & Repair – 5.0%
Sales & Finance – 4.5%
Buissness & Financial Operations – 4.4%
Transportation & Natural Moving – 3.4%
All Other – 3.8%

$25.7 BILLION contribution to US GOP annually – Industrial truck manufacturers make a widespread contribution throught the US economy.

JOBS – Economic activity of industrial truck manufacturing supports over 209,000 jobs throughout the U.S. economy.

More than 1 MILLION units sold annually worldwide.

More than 200,000 units sold annually in the U.S.

540,000+ – More than 540,000 industrial truck operators are currently employed in over 300 different industries in the US. Source: Bureau of Labor Statistics – BLS

MORE THAN 60% of industrial trucks sold in the U.S. are electrically powered.

STATES WHERE INDUSTRIAL TRUCK FIRMS GENERATED THE HIGHEST ECONOMIC IMPACT  In terms of GVA
Illinois – $3.5 billion
Texas – $2.7 billion
Ohio – $2.4 billion
New York – $1.7 billion
Califonia – $1.6 billion
North Carolina – $1.5 billion
Pennsylvania – $1.0 billion
Indiana – $970 million
Florida – $916 million
Wisconsin – $719 million

$5.3 BILLION paid in local, state and federal taxes annually

VETERANS = 10% – Veteran status in the industrial truck manufacturing sector is 10%. All other industries are 7%

To see the original article please visit indtrk.org

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