U.S. Lead Battery Industry shows 20% job growth, $26.3 billion in economic impact annually
The study also noted the U.S. lead battery industry contributed $26.3 billion in total economic output to the national economy.
CHICAGO, Oct. 3, 2019 /PRNewswire/ -- Today, as the U.S. approaches Manufacturing Day 2019, a new study finds the lead battery industry is thriving. At the close of 2018, it showed a 20% increase in reported direct jobs since that information was last collected in 2016. In all, the industry reported nearly 25,000 direct jobs across 38 states and 92,000 total jobs when factoring in suppliers and worker spending in different industries.
The study also noted the U.S. lead battery industry contributed $26.3 billion in total economic output to the national economy. Included in that number is $10.9 billion in gross domestic product and $2.4 billion in government revenue.
The study, Economic Contribution of the U.S. Lead Battery Industry, was prepared by the EDR Group at the request of Essential Energy Everyday and Battery Council International (BCI). The findings demonstrate the economic benefits lead battery manufacturers and recyclers provide to thousands of American workers and their communities. Cumulatively, industry workers earn $6 billion annually in livable wages that provide access to the middle class, regardless of workers' education level. Relative to other industry sectors, employees of the lead battery industry earn high salaries. On average, salaries among mining and recycling employees reached $98,100, while manufacturing employees saw salaries of $64,000.
Study respondents also reported spending more than $100 million on research and development, which has driven additional long-term job creation and other economic impacts. Kevin Moran, executive vice president of BCI, expects further industry growth, given the essential nature of lead batteries and their successful and sustainable model of a circular economy.
"Lead batteries keep Americans mobile and connected by powering more than 275 million cars and trucks and supporting a communications infrastructure of more than $1 trillion." Moran further explained, "Lead batteries also play an increasingly important role in cost-effective energy storage, as the demand for renewable energy increases. And, with a 99% recycling rate, they feed a circular economy that creates additional green jobs."
Moran noted a lead battery's role in green transportation as a key growth factor. He said start-stop vehicle technology using advanced lead batteries removes 4.5 million tons of greenhouse gas emissions annually in the U.S. Lead batteries also enable growth in electric vehicles by providing critical safety and security functions. To accelerate the rollout of electric vehicles, one pilot project is studying the battery's ability to store energy and manage electricity demand in charging stations
"Our industry is proud of its contribution to the national economy and our role in the circular economy as a provider of green jobs and technology to reduce greenhouse gas emissions. The employment we're providing is giving Americans a foothold to the middle class, in an era when many manufacturing jobs are in decline," Moran concluded.
The full study and methodology can be found here.
Learn More at Essential Energy Everyday
Essential Energy Everyday exists to increase awareness of the critical importance of lead batteries in powering our daily lives and future. It encourages continued investment in sustainable lead battery technology to store and provide energy on demand. Its initiative is supported by the two global trade associations that represent the lead battery and lead industries, Battery Council International and the International Lead Association.
About Battery Council International
Battery Council International is the North American trade association representing the lead-based battery manufacturing, supply, recycling and distribution companies. For more information on the association, visit batterycouncil.org.
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SOURCE Battery Council International
