As the American economy continues to grow, a new economic impact report released today details the impact that America’s beer, wine and spirits retailers have on their local, state and national economies through job creation, direct economic impact and the generation of tax revenues.
The 2018 Economic Impact Study of America’s Beer, Wine & Spirits Retailers provides an in-depth look at the role that beverage licensees play by creating more than 2.03 million jobs from direct retail alcohol sales and paying more than $47.9 billion in local, state and federal taxes. ABL members have access to state-specific breakdowns of the study via the ABL website.
The direct economic impact of America’s beer, wine and spirits retail industry is more than $122.63 billion annually; the total economic impact of the industry is $363.33 billion annually; and the industry is responsible for 1.65 percent of the U.S. economy based on total GDP.
“Now in its fourth iteration, this independent economic impact report confirms the value licensed beverage retailers provide to their communities and adds an economic chapter to the success story of a beverage alcohol marketplace that delivers more choice to consumers than ever before,” says ABL Executive Director John Bodnovich. “As grassroots advocates for the thriving hospitality industry, independent beverage licensees frequently share the stories of their Main Street businesses and how they are part of the civic fabric of their hometowns. This report underscores their remarkable impact as employers, taxpayers and economic engines at the local, state and national levels.”
The biennial report was conducted by economic research firm John Dunham & Associates. All alcohol-related jobs in on-premise full-service restaurants and drinking places, as well as all alcohol-related jobs in off-premise package stores, are included. In all other locations, this analysis examines on- and off- premise retail alcohol beverage sales accounting for full time and equivalent jobs related solely to the sale of alcohol.