Issue link: http://palletcentral.uberflip.com/i/1141207
12 PalletCentral • May-June 2019 palletcentral.com he Great Recession's impact on the U.S. economy led to the greatest market declines the world had seen since World War II. Now more than a decade removed from economic downturn, the wooden pallet and container industry's recovery has driven an economic impact of more than $31 billion annually, contributing more than 173,000 direct and indirect jobs to the U.S. workforce. "The wood packaging industry is more than just wood and nails," said Larry Howell, former NWPCA Board Chair and current president of Alabama-based Cottondale Wood Products. "We are tightly interwoven in communities across the U.S., working with other industries to supply materials and parts as well as financials, intellectual property and logistics both nationally and globally." A recent study by the National Wooden Pallet and Container Association (NWPCA) highlighted the economic evolution the industry has experienced and how it contributes to the greater U.S. economy. "We now have the critical data that shows the continued expansion of the industry and has the potential to inform policies that create jobs and support local communities," said NWPCA President and CEO Brent McClendon. "We are proud of the role wood packaging plays in growing the economy." The research and study were funded by The Pallet Foundation, an arm of the NWPCA, and conducted independently by the Manufacturing Institute's Center for Manufacturing Research in partnership with INFORUM. The report provides an overview of the recent economic revival of the domestic wooden pallet and container industry, tracking the scope, size, and growth of the industry and its contributions to the U.S. economy. Figures in the study track the industry from 2002 through 2016. As of 2016, the wooden pallet and container industry employed more than 67,000 workers with an output value of $10.7 billion. These are the highest numbers since 2005, when NWPCA-related employment tallied nearly 92,000 jobs and an output value of $12.6 billion. The industry experienced a downturn during the Great Recession that saw total output drop to $7.6 billion in 2009 and 55,400 jobs in 2012. In 2013, the industry began a seven-year expansion, with growth outpacing the U.S. economy year-over- T By Esme Neely Smith ECONOMY Wooden Pallet Industry's Mirrors that of U.S. Economy