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Some states can take a major financial pressure as a weapon industry slows down under the Asset

 

Donald Trump’s election to the White House has accidentally slowed down gun sales, as many Second Amendment supporters do not be afraid of strict gun control. But as a result, the economy of the country – both the public and the private sector – can bite the bullet, and some states may have a larger hit than others.

In its latest impact report, The National Shooting Sports Foundation (NSSF), the largest trade association for the firearms industry, estimates that the gun arena has created around 30,000 jobs in the past three years. And in 2016, it is reported to have contributed more than $51 billion to the economy of the country and a further $7.4 billion in federal and state taxes.

“The economic growth America’s firearms and ammunition industry has experienced over the past few years is nothing short of remarkable,” the NSSF stated. “In the past few years, the industry growth was driven by an unprecedented number of Americans choosing for the exercise of the fundamental right to keep and bear arms and purchase a firearm and ammunition.”

The NSSF insists that the broader economic impact flows throughout the economy, generating business for firms seemingly unrelated to firearms,” such as in the banking, retail, accounting, metalworking, even printing all depend on the firearms and ammunition industry for their livelihood.

Then, analysts use financial and credit report site WalletHub have conducted a deeper state-by-state study of the firearms enterprise, release their findings this week in the “2017 States Most Dependent on the Weapon-Industry” report.

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Using an array of data, the analysts compared the 50 states and the District of Columbia in three dimensions – the firearms industry, gun prevalence, and gun politics.

According to the findings, the top ten states most dependent on the business of firearms are Alaska, Wyoming, Montana, South Dakota, Idaho, Kentucky and Arkansas.


Source: WalletHub

On the other side of the spectrum, the states with the least reliance on firearms trade in Rhode Island at the bottom, followed by Delaware, New York, New Jersey, California, Maryland, Michigan, Massachusetts, Connecticut, Hawaii, and Washington.

WalletHub analysts also found that states and districts that had the highest average wages and benefits in the firearms industry – D. C, Connecticut, Massachusetts, New York and Rhode Island – are among the lowest of the total dependence of the weapon-industry. States with the lowest wage averages – including Maine, West Virginia, Indiana, Wyoming, New Mexico, usually range between the top to the middle of the pack in the list of dependencies.

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“Most of the gun manufacturers or dealers set up shop in countries with lower labor costs and lower cost of living in order to qualify for a higher profit, that is the reason why states with higher wages are generally less dependent on this industry.” WalletHub analyst Jill Gonzalez told Fox News.

But this can also be a matter of how much other industry that each state serves.

“These high wage states have the largest and most diverse economies. Firearms are a cottage industry in the general scheme of things. They disappear into the margins in these high-wage areas,” said Dennis Santiago, an independent California-based firearms policy analyst. “In places where there are few large industry, craft businesses much more relevant for their economy.”

Although not in the study, states that are home to the world’s leading firearms manufacturers such as Smith & Wesson in Massachusetts, Beretta in Maryland, Kimber in New York and Colt, Sturm, Ruger & Co. and O. F Mossberg & Sons all in Connecticut – were all, perhaps ironically, seems to be very low on the overall monetary confidence in the weapon industry.

“The states in question have a very large financial sector, and the relatively small industrial sectors,” said Jeffrey Borneman, founder of investment firm Rampart Portfolio ners, specialized in metals, defense, energy, and food. “The fact that arms production has a peak will not affect the state of the revenue a lot.”

But as it turns out, according to the study, that there is no direct correlation between the highest numbers of NICS background checks per head of the population, and how heavily each state relies on the gun business. The states with the most controls – Indiana, Kentucky, Illinois, Montana and South Dakota range from 4 to 40 on the dependency scale. However, those with the least controls – Rhode Island, New York, New Jersey, Hawaii and D. C were all in the lowest rung of the economic gun trust.

Member states with a high financial interdependence of the firearms industry, such as Alaska, Arkansas were found to have the highest gun ownership.

WalletHub expert Gregg Carter, a professor of sociology at the Department of History and Social Science at Rhode Island’s Bryant University, noted that the new government, and the Republican-controlled Congress agenda is more focused “on gun rights, not gun control,” said the lawyers for the latter are likely to face steep challenges.

“For example, earlier this year, both the House and the Senate voted to block the implementation of Obama plan, the Social Security Administration will send the names of recipients who had ruled incompetent to deal with their financial affairs to the NICS background system in order to prevent these people from buying guns,” he continued.

However, others say what the research ultimately shows that the power centers put gun regulations on the books are also the places where the least amount of gun transactions happen.

“The main thing I see in this data is the strength of unengaged information voters. America’s gun vote is driven by people in states with large urban centers filled with people who have little knowledge about firearms for which the governments are insensitive to the economy,” Santiago added. “All they see is the nuisance will be asked to learn more about things that are not relevant to their lives. The deeper national interests of the Second Amendment takes a back seat in such circumstances.”

Hollie McKay, is a FoxNews.com staff reporter since 2007. She has expanded from the Middle East about the rise and demise of terrorist groups, such as ISIS in Iraq. Follow her on twitter via @holliesmckay

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