Amazon has announced the release of its 2024 Economic Impact Report, which provides data on the company's investments and their effects on the economy and job growth. Amazon was ranked No.1 Investment Hero by the Progressive Policy Institute for its leading U.S. investments.
Amazon's 2024 Economic Impact Report reveals that the company's investments have contributed over $1 trillion to the U.S. Gross Domestic Product (GDP) since 2010 and directly invested over $244 billion last year in employee compensation and infrastructure. The company's expansion supports nearly 5 million jobs nationwide, including 2 million in various sectors and over 1.8 million through independent sellers. Amazon has also invested over $280 billion in small towns and rural areas, increasing median household income by $1,350 annually in areas with Amazon facilities. Additionally, Amazon's hourly associates earn about 7% more than their previous jobs, according to a press release by Amazon.
Since 2010, Amazon has invested $35 billion in Ohio, according to About Amazon. These investments have added $31 billion to the state GDP and created 38,000 full- and part-time jobs as of January 2024 while supporting an additional 72,000 indirect jobs based on U.S. Bureau of Economic Analysis data. Over 11,000 independent sellers, primarily small and medium-sized businesses, operate in Amazon's store in Ohio. Key investments in the state include 18 fulfillment and sortation centers, 17 delivery stations, one air hub, eleven Whole Foods Market locations, four Amazon Hub Locker+ locations, two Prime Now fulfillment centers, an AWS infrastructure region, one wind farm, nineteen solar farms, and the production of Amazon Original Movies and Series such as "Phat Tuesdays," filmed in Ohio.
Amazon provides a range of services including online and in-person shopping, delivery of fresh produce, and media distribution. The company operates various devices and services such as Alexa and Fire TV and offers cloud solutions through Amazon Web Services (AWS). Its operations include logistics and customer service; it also delivers entertainment through platforms like Amazon Originals, Prime Video, and Audible.