The vaping industry is one of the fastest growing in the world and in particular across the United States where smokers are seeking an alternative to traditional cigarettes that allows them to smoke in public places. Not only does the vaping industry seek to find a better alternative to traditional cigarettes, it has also attracted the attention of lawmakers on a national and state level. The movement towards higher levels of taxation for the vaping industry is seen as a sign that the industry is a success and will continue to be so long into the future.
The first example of how the vaping industry helps the economy can be found in the fact that the use of electronic cigarettes are lowering the number of people who are seeking medical help for their cigarette associated illnesses. For both first and secondhand smoking, the use of vaping products and nicotine liquids releases very few chemicals into the environment compared with the more than 60 released every time a traditional cigarette smoker exhales. Those who choose nicotine liquids also tend to smoke less as they put away their e-cigarettes once they’ve halted their craving for nicotine and could see less medical issues in the future caused by cigarette based problems.
Taxation is another area that has been growing for the vaping industry and has been reported to reach as much as $10 billion by the end of 2015. The vaping industry is therefore adding money to the funds of the federal and local government throughout the year as sales taxes and those placed on the manufacturing of vaping equipment continues to be implemented. The growing popularity of the industry is therefore adding to the economy on a regular basis in the form of everyday taxation.
Finally, since the 2008 financial meltdown, the issue of employment and maintaining jobs has been a major one the nation and the world has been facing. As the vaping industry grows, so does the number of employees needed for all aspects of the industry, including sales and manufacturing opportunities. Not only does this allow more people to buy more products from different areas, but also allows state and federal taxation of the incomes of these workers from the vaping industry. The growth of the industry will continue to add funds to the economy and help to create a more stable and affluent group of employees for this fast growing industry.
So as you can see, vaping has contributed in a positive way to the economy in more ways than one.