TIA,EconomicImpactReport,BearGraphicAccording to a new report from the Toy Industry Association (TIA), the U.S. toy industry supports more than 491,000 jobs, generates $24.51 billion in wages, contributes $9.93 billion in combined state and federal taxes, and has a total annual economic impact in the U.S. of $76.71 billion. Nearly 98 percent of U.S. toy manufacturers, wholesalers, and distributors are small businesses.

TIA’s “2015 Economic Impact of the Toy Industry in the United States” findings were developed using figures from Dun and Bradstreet Inc., the U.S. Bureau of Economic Analysis, and other government sources, as well as toy industry data provided by TIA and private sector sources. In addition to national data, TIA has put together economic impact findings for each U.S. state.

The reports define the toy industry as those firms involved in the production, importation and wholesaling, and retailing of toys and related products. Statistics are broken down into three categories: direct, which consists of toy manufacturers, wholesalers, distributors, and retailers; indirect, which consists of raw material, component, and service suppliers; and induced, which consists of local businesses supported by the re-spending of manufacturers, wholesalers, distributors, retailers, and their direct suppliers, calculated using an input/output model of the U.S.

Additional findings show that up to 80 cents of every toy retail dollar remains in the country as a result of U.S. domestic operations (e.g., production plus wholesale and retail), while about 61 cents of every toy production dollar remains in the country (e.g., research and development, design and safety considerations, salaries, benefits and material costs).

The TIA’s “2015 Economic Impact of the Toy Industry in the United States,” broken down on a state-by-state-basis, can be found at the TIA website.