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The Institute of Scrap Recycling Industries (“ISRI”) issued a report titled:
2019 – Economic Impact Study, U.S.-Based Scrap Recycling Industry (“Report”)
The Report includes state-specific data (including Arkansas) in regards to the impact of the scrap recycling industry in terms of jobs, wages, and output.
ISRI retained the economic consulting firm of John Dunham & Associates to:
. . . perform an economic impact analysis to document the size and scope of the scrap recycling industry in the United States and document its significant contribution to the U.S. economy in terms of employment, tax generation, and overall economic benefit.
The scrap industry is described as the “world’s first green industry” because of its positive impact on the environment through:
- Reduction of greenhouse gas emissions
- Saving energy
- Protecting natural resources
138 million metric tons of materials are stated to have been recycled in 2018. Such recycling is noted to have taken outdated or obsolete scrap and turned it into useful raw materials to produce a range of new products.
In terms of the United States, jobs created by the industry are listed under the categories of “Direct,” “Supplier” and “Induced.” Jobs created include:
- Direct - 164,154
- Supplier - 159,681
- Induced - 207,675
Economic Impact is listed as:
- Direct - $41,755,731,500
- Supplier - $33,735,199,300
- Induced - $34,288,057,900
As to Arkansas, jobs created include:
- Direct - 1,252
- Supplier - 1,198
- Induced - 1,181
Economic Impact for Arkansas is:
- Direct - $262,580,300
- Supplier - $247,919,300
- Induced - $197,532,300
A copy of the Report can be downloaded here.
