Top Takeaways From SIA’s Latest Economic Impact Report
The security industry’s significant economic footprint extends throughout the American economy, as shown through a groundbreaking new research report from the Security Industry Association (SIA). SIA’s Economic Impact Report — the first-ever national economic impact study on the security industry — highlights the positive impact the security industry has on jobs, wages and federal and sate revenue in the United States.
The study, conducted for SIA by John Dunham & Associates, measures the combined impact of the security industry across four categories of activity: manufacturing, business to business activity, services and security personnel. The study found that the security industry — as a dynamic and rapidly growing sector of the national economy — has a total economic impact of $431.3 billion, supporting 2.1 million jobs and $145.5 billion in wages, including supplier and induced economic activity. Through its production and business to business sales linkages, it impacts firms across 523 of the total 545 sectors within the U.S. economy.
“SIA’s Security Industry Economic Impact Report describes the significant economic impact of the security industry in the United States as a key source of employment and leading contributor to our economy,” said Don Erickson, CEO, SIA. “The report provides very compelling data points that should be considered by government officials as they contemplate the impact of potential regulation and legislation upon security businesses. We expect that the report’s findings will also be leveraged by employers to better compete against other industries for qualified talent.”
Image: SIA Report
Highlights include the economic impact of the security industry in the top 10 U.S. states:
1. California
- Direct output: $21.7 billion
- Direct jobs: 106,104
- Direct wages: $7.6 billion
- Total taxes: $11.6 billion
2. New York
- Direct output: $11.4 billion
- Direct jobs: 55,708
- Direct wages: $4.3 billion
- Total taxes: $6.2 billion
3. Texas
- Direct output: $11.3 billion
- Direct jobs: 64,320
- Direct wages: $4 billion
- Total taxes: $4.7 billion
4. Florida
- Direct output: $9.8 billion
- Direct jobs: 57,568
- Direct wages: $3.5 billion
- Total taxes: $4.8 billion
5. Virginia
- Direct output: $4.9 billion
- Direct jobs: 26,261
- Direct wages: $1.8 billion
- Total taxes: $2.2 billion
6. Pennsylvania
- Direct output: $4.4 billion
- Direct jobs: 23,820
- Direct wages: $1.6 billion
- Total taxes: $2 billion
7. Georgia
- Direct output: $4.1 billion
- Direct jobs: 33,898
- Direct wages: $1.6 billion
- Total taxes: $1.9 billion
8. Illinois
- Direct output: $4.1 billion
- Direct jobs: 26,851
- Direct wages: $1.6 billion
- Total taxes: $2 billion
9. Massachusetts
- Direct output: $4 billion
- Direct jobs: 17,435
- Direct wages: $1.5 billion
- Total taxes: $2.2 billion
10. New Jersey
- Direct output: $3.9 billion
- Direct jobs: 21,137
- Direct wages: $1.5 billion
- Total taxes: $2.1 billion
This helpful interactive tool can be used by security companies to find the economic impact of the security industry in your state or congressional district — and to make the case to lawmakers for the impact and importance of this ever-evolving, cutting-edge field.
Learn more about the security industry’s economic impact, including sorting the data nationally or by state or congressional district, and view study methodology on the report webpage.
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