Equipment Manufacturers Help Economy Grow

By: Russ Quinn

The equipment manufacturing industry supported 1.3 million jobs and contributed $159 billion to the Gross Domestic Production (GDP) of the U.S. in 2016, according to new report released by The Association of Equipment Manufacturers (AEM). The report was unveiled March 9 at the CONEXPO-CON/AGG 2017, the industry’s trade show in Las Vegas.

The equipment manufacturing industry had $416 billion in sales activity in the U.S. in 2016 and also generated over $25 billion in local, state and federal tax revenue in the same year. In addition, the industry generated $87 billion in total U.S. labor income in 2016.