Page 53 - Wire Rope News & Sling Technology






Page 53 - Wire Rope News & Sling Technology
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         Study Shows Robust                 the sustainability of an industry with   state and local taxes.
         Economic Impact of                 such  an impactful employment base   JDA conducted this research  using
         American Iron and Steel            and robust economic footprint.”    econometric models first developed by
         Industry                             Gibson said that the new study more   the U.S. Forest Service, and now main-
           A just-released study shows that the   accurately represents the breadth  of   tained by the IMPLAN Group. Data is
         American iron and steel industry sup-  the  American  iron  and steel  industry   drawn from Infogroup, a leading pro-
         ports nearly two million jobs and con-  by including facilities  active in  iron   vider of business  and consumer  data,
         tributes more than $520 billion to the   ore  mining,  coke  production,  ferrous   as well as from industry sources  and
         economy, when considering the direct,   scrap  processing,  steel mill  services,   government publications.
         indirect (supplier) and related impacts.  ferrous metal foundry production, steel   Here is a link to the interactive web-
           The study, conducted by the promi-  processing and distribution, and other   site:
         nent research firm of John Dunham &   steel  product manufacturing,  in  addi-  Reprinted  from the  American  Iron  and
         Associates (JDA) and commissioned by   tion to iron and steel mills, as was the   Steel Institute.
         the American Iron and Steel Institute   case in previous studies released more
         (AISI), also shows  that the iron  and   than five years ago. He added that AISI  Ranger Lifting Marks
         steel industry generated an estimated   is launching an interactive tool on its   Launch of New Roundsling
         $56 billion in federal, state and lo-  website to share detailed data.  Standard
         cal taxes and that industry-supported   Highlights  and breakdown  of addi-  Ranger Lifting,  which  is headquar-
         workers earned more than $130 billion   tional steel industry economic contri-  tered in  Sydney and recently  opened
         in wages and benefits.             butions include:                   a facility in Melbourne, Australia, has
           “The American iron and steel indus-  • 387,000 direct iron and steel indus-  welcomed publication of a new na-
         try is a dynamic part of the U.S. econ-  try jobs (iron  and steelmaking, steel   tional standard covering  roundslings,
         omy. This comprehensive analysis pro-  mill and other steel products, process-  launched in April 2018.
         vides detailed geographic breakdowns,   ing, ferrous metals foundries, distribu-  AS 4497:2017 will supersede AS
         including at the congressional district   tion, materials and mill services)  4497.1 Roundslings—Synthetic fibre,
         level, and is the most accurate snap-  • 716,000 supplier jobs        Part 1: Product specification; and AS
         shot of the full breadth of the economic   • 878,000 induced (re-spending) jobs  4497.2 Roundslings—Synthetic fibre,
         impact of today’s American iron  and   • $207 billion in economic output di-  Part 2: Care and use (both 1997).
         steel industry,” said Thomas J. Gibson,   rectly from iron and steel production  The objective of the standard is to
         president and CEO of AISI. “The re-  • $173 billion in economic output from   combine the two previously separate
         sults illustrate why strong, pro-manu-  suppliers to the iron and steel industry  parts for manufacturing and safe use
         facturing policies are needed to ensure   • $56 billion generated in federal,         continued on next page
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