April 25, 2018 | Number of The Day
Annual toll of gun violence on NJ economy

New research puts the overall economic cost of gun violence in New Jersey at more than $3.3 billion, with a direct annual cost to New Jersey taxpayers of approximately $273 million. The analysis was compiled by Giffords Law Center to Prevent Gun Violence and is published in a report, “The Economic Cost of Gun Violence in New Jersey.”

Giffords indicates that local businesses are severely impacted when gun violence occurs, as shootings keep customers and tourists away and often limit hours of operation. On average, there are 2,014 shootings in New Jersey each year, resulting in directly measurable costs of over $1.2 billion annually. That includes:

  • Healthcare costs: $93 million
  • Law enforcement and criminal justice expenses: $131 million
  • Costs to employers: $8 million
  • Lost income: $918 million
  • Much of this tab is picked up by the public. Up to 85 percent of gunshot victims, for example, are either uninsured or on some form of publicly funded insurance. Additionally, law enforcement efforts are funded entirely by taxpayer dollars.