THE MOVING AND STORAGE INDUSTRY IN THE U.S. ECONOMY
Generating Economic Growth and Jobs, Supporting the American Way of Life, Growing Small Businesses and Building Government Services through Tax Contributions
Creating Jobs and Stimulating Economic Activity
The Moving and Storage Industry Generates Economic Growth, Supports Jobs and Directly and Indirectly Stimulates Economic Activity in Other Industries
Direct Economic Impact: The moving and storage industry generates $16.5 billion in annual revenue, provides 122,600 jobs and spends $7 billion on equipment, materials, parts and supplies and services needed to conduct business.
Direct and Indirect Economic Impact: $8.9 billion in household earnings,353,000 jobs, and $1.2 billion in business and personal income tax revenue can be attributed to the moving and storage industry, as industry businesses and employees purchase products and services of other industries.
The number of industry jobs is 1.6 times greater than the number of jobs in the auto manufacturing industry and 5.6 times greater than the industry of scheduled air freight transportation.
Supporting the American Way of Life
The Moving and Storage Industry is a Support System for the American Economy and the American Way of Life
Each year, families across America move in search of new jobs and opportunities, new homes and strong communities, with the goal of improving their overall quality of life. Including those who moved overseas, nearly 40 million people (14% of the U.S. population) moved in 2006.
In thousands of moves across the country each year, the industry supports readiness and deployment of troops and families that make up the ranks of the industry’s single largest customer, the U.S. military. The military invests nearly $1.9 billion annually in moving services to move military families.
With support from quality movers, corporations of all sizes have flexibility to shift their company’s most critical resources – their workforce– to areas throughout the nation and the world to meet the needs of our dynamic global economy.
Working with the General Services Administration,the moving and storage industry coordinates and carries out up to 15,000 moves annually for our civilian workforce, contributing to government efficiency and responsiveness.
Growing Small Business
The Moving and Storage Industry Supports the Growth of Small and Family-Owned Businesses in Every State in America
With 8,100 companies doing $16.5 billion in business annually at 17,000 locations, moving and storage businesses stimulate the economy of every state in America.
While 96%of business establishments in the industry are small local businesses that earn less than $10 million annually and account for 72% of all industry jobs, 84% of all industry business establishments are micro-businesses that earn less than $1 million annually and account for 31% of all industry jobs.
Contributing to Government Services and Infrastructure
Through Tax Contributions, the Moving and Storage Industry Supports Local, State and Federal Government Services, Education, Healthcare and Infrastructure
$1.2 billion in annual business and personal income tax revenue can be attributed to the moving and storage industry.
According to data collected by AMSA, the industry travels 1.2 billion interstate miles each year, which equates to 390,000 annual cross-country trips.
With 1.2 billion interstate miles traveled at an average of 5 mpg, the industry contributes $58 million in federal diesel fuel taxes annually to the Federal Highway Trust Fund. In addition, the industry’s 8,100 moving and storage companies operate roughly 112,800 trucks and contribute an estimated $132.6 million annually in additional federal taxes, including tire taxes, heavy vehicle use taxes (HVUT) and federal excise taxes (FET) on new truck purchases.
Information excerpted from research study conducted by Nathan Associates, Inc., The Moving and Storage Industry in the U.S. Economy, September 2008. Study was funded by the Moving and Storage Institute, a 501(c)(3) charitable organization that serves as the philanthropic arm of the American Moving and Storage Association, as part of its mission to develop through research, discussion, and exchange of information a better understanding of the transportation of household goods and warehousing. To view full report, click here.
