AEM’s “The Economic Impact of the Equipment Manufacturing Industry” report highlights the industry’s total and direct contribution to the U.S. economy at the national, state, and congressional levels. This includes capturing the industry’s total employment, contribution to the U.S. Gross Domestic Product (GDP), total sales output, labor income, state and federal tax revenue generated and more.

On behalf of AEM we are pleased to share this report, with findings from S&P Global, that shows the significant contributions by our industry to the U.S. economy each year.

Highlights of the 2023 report include:

Jobs

• 2.3 million jobs supported by the equipment manufacturing industry
• Equipment manufacturers support 11% of all U.S. manufacturing sector jobs
• Equipment manufacturers support at least 1,000 jobs in 44 states
• Equipment manufacturers support at least 1,000 jobs in nearly two-thirds of every U.S. congressional district
• Equipment manufacturing jobs pay 33% above the national average
• The top 5 states with the most jobs supported by the equipment manufacturing industry are Texas (345,697), Illinois (238,914), Wisconsin (181,159), Ohio (153,889), and Indiana (138,221)

Broader economic contribution

• $316 billion a year contributed to the U.S. economy by the equipment manufacturing industry
• $714 billion dollars a year is generated by equipment manufacturers in total equipment sales and output
• $47 billion a year is paid by the equipment manufacturing industry in federal, state, and local taxes

AEM's report is based off an S&P Global Market Intelligence analysis titled The Market Size and Economic Contributions of the Off-Highway Industry. For access to the full report and its corresponding underlying data, contact Katrina Bishop at kbishop@aem.org.

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Learn more about AEM’s Advocacy efforts that help equipment manufacturers continue to grow and increase the industry’s contribution to the U.S. economy.