ISRI Releases Video Illustrating Strong Economic Impact of the U.S. Scrap Recycling Industry
The Institute of Scrap Recycling Industries (ISRI) has released a new video, Green Effect:The Recycling Industry’s Economic Impact, visually displaying the industry’s significant contribution to the U.S. economy in terms of employment, tax generation, and overall economic benefit. The 1:36 video keys on the fact that recycling is an economic driver that provides many benefits across the globe beyond just the environmental advantages.
“Over the years, the scrap recycling industry has proven to be a resilient, job creating, and economy- driving force both in the U.S. and globally,” said Robin Wiener, president of ISRI. “Many outside the industry are completely unaware of recycling’s economic impact as the first link in the manufacturing chain. Not only are we leading the way in green jobs, but recyclers are also responsible for billions of dollars in wages, state, local, and federal tax revenue, and lowering the trade deficit. This video will help educate the public, educators, others in the manufacturing sector, and many more on the contributions offered by the recycling industry.”
Some interesting facts from the video include:
- The scrap recycling industry generates nearly $106 billion annually in economic activity;
- Scrap recyclers directly employ nearly 150,000 U.S. workers, supporting more than $11 billion in wages;
- The industry generates about $4.39 billion in state and local revenues annually, and another $6.76 billion in federal taxes are paid each year by the industry and its employees; and
- Recyclers export processed scrap in volumes comparable to other commodities such as grain, corn, and cotton.
The video was based on a study performed by the independent consulting firm of John Dunham and Associates to explore the size and scope of the scrap industry in the U.S., and measure its significant contribution to the economy in terms of employment, tax generation, and overall economic benefits. The study includes breakdowns by state, Congressional District, state legislative district, and more.