CEO DATELINE - Outdoor industry groups score win with REC Act
CEO DATELINE - Outdoor industry groups score win with REC Act
- December 14, 2016 |
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LORI SHARN BRYANT
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The economic impact of outdoor recreation will be counted as part of the nation's Gross Domestic Product, a win for the Outdoor Industry Association and other trade groups that lobbied for the measure.
President Barack Obama signed the Outdoor Recreation Jobs and Economic Impact Act Dec. 8; the bill passed unanimously in both the House and Senate.
OIA-sponsored studies show that the outdoor recreation industry accounts for $646 billion in annual consumer spending, 6.1 million jobs in the U.S. and $80 billion in federal, state and local tax revenue. The new law will track and quantify the outdoor industry as part of the GDP. The first report to include these new measurements is expected by the end of 2018.
The data will help elected officials make more informed policy decisions, according to OIA. http://bit.ly/2gdBsk6
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