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Contribution of the Automotive Industry to the Economies of All Fifty States and the United States
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Six years after the worst recession since the 1930s, the American economy is demonstrating many signs of strengthening, and the auto industry is helping drive that recovery. Despite recent economic hardships, auto manufacturers, suppliers, and dealers employ over 1.5 million people and directly contribute to the creation of another 5.7 million jobs. In total, the auto industry supports 7.25 million private sector jobs, almost $500 billion in annual compensation, and nearly $65 billion in personal tax revenues. In this paper, the authors touch on the many factors that support the auto industry’s importance and standing in the national economy, along with an estimate of the industry’s employment and economic contribution to the national economy and to each of the 50 states.
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