Toy Industry Economic Impact Reports Now Available
August 6, 2013 | The Toy Industry Association (TIA) is pleased to announce that updated reports detailing the toy industry’s vital economic impact at the federal, state and congressional district level are now freely available.
As part of its ongoing efforts to highlight the broad fiscal effect of the toy industry in the United States, TIA commissioned John Dunham & Associates, a well-known economic research firm, to generate three distinct reports:
- An economic impact summary report totaling industry-generated jobs, wages and taxes on the federal, state and local level, with breakout figures for small businesses;
- A data table reflecting the industry’s direct, indirect and induced financial impact on the national, state and local economies, also with specific data on small businesses;
- A company roster listing the total number of toy companies, as well as the number of small businesses and TIA members, within each state and district.
According to the reports, the total economic impact of the toy industry in the U.S. is $75.03 billion. From toy inventors and designers to store clerks in every state, the toy industry supports an estimated 321,030 jobs across the country – of those, just over 30% are employed by small businesses. Although the average unit price of a toy is less than $8, the industry generates roughly $22 billion annually in direct retail toy sales.
“These reports highlight just how vital the toy industry is to the U.S. economy, and enable us to share that important information with industry stakeholders and key legislators,” said Anne McConnell, TIA’s director of market research and data strategy. “They provide both a broad and in-depth look at the industry’s economic impact on a national to local scale, and will serve as critical tools in furthering the image and growth of the toy industry.”
These newly released reports have been updated from the original 2012 documents to reflect current figures, improved data charts and a particular emphasis on the value of small businesses. They can be found in the “Industry Facts” section of the TIA website; they are also used extensively during TIA’s annual legislative Fly-In events in Washington, DC and Sacramento, CA; Congressional District Coffee Week; and in other ongoing TIA advocacy outreach.
The analysis was developed using figures from Dun and Bradstreet, Inc., the U.S. Bureau of Economic Analysis and additional government sources, as well as toy industry data provided by TIA, The NPD Group and other private sector sources. The report defines the toy industry as those firms involved in the production, importation, wholesaling and/or retailing of toys and related products.
For more information regarding the implications or methodology of these reports, contact TIA’s Anne McConnell (646.520.4870).