NEW STUDY: Key Industries with PFAS As Vital Components Have Significant Economic Benefits
FOR IMMEDIATE RELEASE
March 23, 2023
Contact: carbo@s-3group.com
Critical industries support 6.2 million manufacturing jobs and contribute more than $1 trillion towards United States gross domestic product (GDP)
WASHINGTON – Today, the Sustainable PFAS Action Network (SPAN), a coalition of industry stakeholders that advocate for responsible and science-based regulation of per- and polyfluoroalkyl (PFAS), released the findings of a new study that highlights the economic contributions of key industries which use certain PFAS as vital components. The analysis was conducted by Inforum, an economic research organization founded by Dr. Clopper Almon, Professor Emeritus of the University of Maryland, that has been building economic models and employing input-output (IO) techniques for over 50 years. The study evaluated the economic contributions of six key industries – aerospace manufacturing, automotive manufacturing, battery manufacturing, medicine and pharmaceutical manufacturing, refrigeration and AC manufacturing, and semiconductor manufacturing. According to the study, these six industries support more than 6 million manufacturing jobs and contribute more than $1 trillion towards United States GDP.
The full breakdown of the economic contributions as outlined in the report are:
To measure the economic contributions of industries which use certain PFAS as vital inputs, Inforum used “IO analysis and IMPLAN, a widely used economic modeling system. These tools can be used to estimate chains of effects that occur through the interrelationships between businesses, government and households. This analysis uses the 2021 IMPLAN database and model. All economic contributions are presented as inflation-adjusted 2021 dollars (2021$). All results are for the calendar year 2021.”
The full report conducted by Inforum and detailed information on the methodology is available by clicking here.
ABOUT SPAN
Formed in 2021, SPAN members recognize that America’s innovators and industries depend on the responsible management of PFAS compounds. The organization supports science- and risk-based policy approaches that recognize the unique differences of these compounds. In the United States, the Environmental Protection Agency (EPA) has identified more than 10,000 materials that are likely to meet the broadest definition of PFAS. However, the number of compounds currently commercially manufactured or used in the United States today is closer to 700. Recognizing the essential role of PFAS compounds in enabling economic prosperity, delivering lifesaving equipment and medicine, climate change mitigation, and national security, among many other important applications, SPAN is committed to their sustainable use and responsible management.
More information about SPAN and industries they support is available by visiting www.span.org.
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