PetfoodIndustry.com reports that a new study indicates that the pet industry contributes over $221 billion to the U.S. economy every year.
The study, the product of researchers at George Mason University, reveals that, in 2015, the pet industry provided over $60 billion in salaries, wages, and benefits through over 1.3 million jobs in the United States alone. The study also indicates that the industry contributed $23 billion in state, federal, and local taxes during the same year.
The research team used data from the U.S. Bureau of Labor Statistics, the U.S. Census Bureau, the American Pet Products Association’s National Pet Owners Survey, and other sources to develop a model to estimate the industry’s total impact.
“While annual spending for the pet industry is reported each year, this is the first time that anyone has looked at the widespread impact of the pet industry as a whole on the US economy.”
— Terry L. Clower, Professor, Public Policy, George Mason University
In addition to the effect the pet industry has on the U.S. economy, Clower and his team previously determined that pet ownership saves Americans approximately $11.7 billion in healthcare costs. That study, funded by the Human Animal Bond Research Institute (HABRI), found that pet owners visited their doctors nearly half as often as those who do not own pets.