This Is How Many Gun Stores There Are In Michigan

Grand Rapids MI

26 August, 2022

2:37 PM

Description

By Samuel Stebbins, 24/7 Wall St. - Grand Rapids 2022-07-27 There are over 393 million guns in circulation in the U.S., according to estimates from the Small Arms Survey, far outnumbering the national population of 327 million. In the United States – the only country in the world home to more civilian-owned guns than people – guns are big business. While the appropriate balance between gun rights and public safety is a hot button political issue, the economics of the firearm industry are less controversial. According to The Firearm Industry Trade Association, guns and ammunition had a total economic impact of over $70.5 billion in 2021 – generating over a billion dollars in tax revenue and providing hundreds of thousands of jobs. According to data from the Bureau of Alcohol, Tobacco, Firearms, and Explosives, there were 1,976 federally licensed dealers or pawn brokers of firearms in Michigan as of January 2022, or 19.8 for every 100,000 people – the 18th fewest among states. The concentration of gun stores reflects current demand for firearms in the state, as Michigan ranks in the bottom half for both measures, adjusting for population. FBI firearm background check data, which is a close proxy for firearm sales, shows that an estimated 403,011 guns were sold in Michigan in the first half of 2022, or 4,041 for every 100,000 people, the 24th fewest among states. Can't see the article's infographic? Click here to view the original story. This story was originally published by 24/7 Wall St., a news organization that produces real-time business commentary and data-driven reporting for state and local markets across the country.