U.S. Wireless Industry Contributes Over $820 Billion to U.S. Economy Annually
U.S. Wireless Industry Contributes Over $820 Billion to U.S. Economy Annually
December 21, 2022
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According to a new report from Compass Lexecon, commissioned by CTIA, the wireless industry in the United States, relying on exclusive-use, licensed spectrum, has contributed $825 billion in GDP to the American economy annually and nearly $5.4 trillion in GDP to the American economy. The U.S. wireless industry also enabled approximately 4.5 million jobs in 2020 alone.
“This report confirms that the wireless industry is a major driver of America’s economy,” said Aren Megerdichian, Ph.D., Executive Vice President, Compass Lexecon. “The substantial investments made by wireless providers, both to acquire spectrum licenses and on their network infrastructure, has translated to significant benefits to the U.S. economy.”
Over the last 10 years, wireless providers have invested an immense amount of time and money on infrastructure deployments to grow their networks, more than approximately $265 billion to be more precise. Meanwhile, spectrum auctions relating to wireless services raised $155 billion in auction revenues for the U.S. government in that same time span.
“The wireless industry is driving the U.S. economy, and this report highlights its massive contributions to our GDP and support of American jobs,” said Meredith Attwell Baker, CTIA President and CEO. “Other countries recognize the value of licensed spectrum and have plans to make significant amounts of it available for 5G. Instead of experimenting with unproven solutions, the U.S. needs a pipeline of exclusive-use, licensed spectrum to continue to power the American economy.”