WASHINGTON : The Institute of Scrap Recycling Industries, Inc. (ISRI) has released a new study highlighting the significant economic and environmental impact of the US scrap recycling industry.
The study, commissioned by ISRI and undertaken by John Dunham and Associates, looks at different kinds of economic activity – jobs and exports – and both direct and indirect economic impacts at the national, state and congressional district levels.
The economic analysis shows that the US scrap recycling industry is a major economic engine powerful enough to create 459,131 jobs and generate $10.3 billion in tax revenues for governments across the country, all while making the old new again and helping to protect the earth’s air, water and land for future generations.
Robin Wiener, ISRI President, said that, “this study illustrates very clearly that the US scrap recycling industry is playing an important role in America’s economic recovery. Despite tough times, our industry is directly and indirectly putting more than 450,000 people to work while generating revenue for federal, state and local governments.”
“All this adds up to recognition that the scrap recycling industry must be allowed to grow so it can continue to boost our economy, put people to work protect our environment and help save energy. When people think of recycling, they think of the bin at the curb when in fact our industry is a multi-billion-dollar ‘Made in America’ manufacturing success story,” he added.
The US scrap recycling industry is particularly important because its operations are so widespread. In fact, the total economic activity generated by scrap recycling in the United States exceeds $90.6 billion, making the industry similar in size to the nation’s forestry and fishing industries combined. Notably, the US scrap recycling industry adds as much to the nation’s economy as either the coal mining industry and nearly as much as all of the nation’s professional sports teams do.