Economic gains are on tap for the U.S. beer industry, according to a new study.
On Tuesday, a group of hops enthusiasts and industry leaders gathered in a building on Capitol Hill for the release of the "Beer Serves America" economic report. The findings show that the U.S. beer industry generated $253 billion in economic activity last year, up from $246.6 billion in 2012, resulting in an output equal to about 1.5 percent of U.S. gross domestic product.
About 1.75 million jobs are supported by the industry, the study found, based on data from 2014. That number is larger than the population of several states, situated between West Virginia (1.85 million) and Idaho (1.63 million), according to the latest Census report. A total of 49,576 Americans are directly employed by brewers and beer importers.
"More than $48.5 billion in tax revenue is generated by the production and sale of beer and other malt beverages," said a press release from the Beer Institute and the National Beer Wholesalers Association, the sponsors of the study. "This is equal to nearly 40 percent of the retail price paid for beer by consumers."