Going into Memorial Day Weekend, the Beer Institute and the National Beer Wholesalers Association released their biennial economic report on the economic importance of the nation’s beer industry.
And in spite of the economic impact of COVID-19 there is much to celebrate…
The Beer Serves America report, which outlines the economic contributions, jobs and taxes the beer industry provides in every state, found the US beer industry currently supports more than 2 million well-paying, local jobs.
According to the report, America’s beer industry also contributes more than $330 billion to the US economy. Brewers and beer distributors directly employ nearly 210,000 Americans, and each job in the brewing industry generates another 30 jobs in other industries, including farming, transportation and hospitality.
The impact of today’s beer industry is equivalent to 1.6% of the United States’ gross domestic product. Brewers and beer distributors directly employ more than 200,000 Americans, and every job in a brewery supports another 31 jobs in other industries.
“As our nation builds back from the pandemic, we look forward to returning to bars, restaurants, stadiums and concerts. Gathering with friends and family to enjoy a cold beer supports the hard-working men and women across our nation whose jobs rely on a vibrant beer economy,” said Jim McGreevy, president and CEO of the Beer Institute….
“Last year, Congress came together in a bipartisan effort to prevent the federal excise tax on beer from increasing. Maintaining the current tax rate on the beer industry at the state and federal level will help support American jobs at a time of significant economic uncertainty. Today’s Beer Serves America economic report shows beer is an integral part of our American economy and American culture, and we take pride in this contribution.”
And Craig Purser, President and CEO of the National Beer Wholesalers Association, who partnered with the Beer Institute on the just released report, echoed McGreevy’s cautious yet positive sentiments…
“The beer industry reflects the economy as a whole – both have suffered this past year but are showing resilience in the face of adversity,” said Craig Purser. Beer helps bring people together and it will help drive the activity to fuel our economic recovery.”
The beer industry is reflective of the US economy…that’s the good and bad news.
The COVID-19 pandemic resulted in a loss of more than 568,000 jobs that depend on our nation’s beer industry. Compared to the last time Beer Serves America was released two years ago, there was a net loss of around 100,000 jobs. Most of these jobs were in America’s bars and restaurants.
But our nation is finally shedding the shadow of COVID-19 and things are getting better, whch is great news for Americans, as well as for the beer biz, as we go into the Memorial Day holiday.