Last Updated on February 1, 2018 by ToyBuzz
TIA reports that the Toy industry has a huge impact on the overall US Economy.
The Toy Industry Association released a report on the economic impact of the toy industry. The economic impact is broken down into 3 categories: direct, indirect, and induced. The report states that the combined economic impact of the toy industry on the US market was $77 billion in 2015.
The report is broken down by individual State and includes a national summary.
Total Economic Impact In The United States
- Last year, an estimated 3 billion fun, safe, and cool toys were sold in the United States at an average price of $10.35. This amounts to $22 billion in direct toy sales.
- 97.7% of toy manufacturers, wholesalers, and distributors are small businesses. In 2015, the toy industry supported 493,914 jobs across the United States which amounted to $24 billion in wages.
- The toy industry generates another $10 billion in federal and state tax revenue.
When you add everything together, the total economic impact is $77.35 billion.
Domestic Value Of Toys
Also summarized is the domestic value of toys. While most toys are manufactured overseas, up to 80 cents out of every dollar spent on toys remains in the United States. 61 cents is spent in the US on production which includes research, development, design, and safety.
About the Report
The report was produced by John Durham and Associates for the Toy Industry Association. The report uses a number of sources to compile the data including figures from Dun and Bradstreet, the US Bureau Of Economic Analysis, data provided by the TIA, and the NPD group.