The Center for the Polyurethanes Industry (CPI) of the American Chemistry Council (ACC) recently released the latest “Economic Benefits of the U.S. Polyurethanes Industry” report, which shows the polyurethanes industry directly contributing $37.9 billion to the U.S. economy in 2017, an increase from the $28.6 billion reported in the 2015 report.
The report shows numerous contributions to the economy, due in part to generating upstream jobs in direct supplier industries and even more in expenditure- induced employment. It explains nearly five jobs are created for each job in the U.S. polyurethanes industry, because the spending activity generated by the polyurethanes industry is used to support other industries and jobs through purchases, services and wages.
“The polyurethanes industry is vital to the economy,” said Lee Salamone, senior director of CPI . “Our industry operates in nearly 1,000 locations around the country, and we provide 55,600 jobs in the manufacture of polyurethane raw materials and polyurethane products.”
Direct economic impacts are only part of the story, according the report, which states the business activity generated by the polyurethanes industry indirectly supports an additional $48.7 billion in output and more than 214,500 additional jobs in other sectors of the economy.
“Plenty of downstream industries, like transportation, building and construction, furniture and bedding, and appliances, rely on polyurethane products,” Salamone said. “As a result, our industry is able to support additional economic output and jobs.”
In total, the business of manufacturing polyurethane materials and polyurethane products supports more than 270,000 jobs and $86.6 billion in output. Further, polyurethane products are used in industries across the economy, generating nearly $300 billion in output and employing more than 1 million workers.
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