A study conducted by Oxford Economics for McDonald’s says the fast-food giant contributes $1.5 billion in economic impact to the New Jersey economy.
McDonald’s plays an integral role in New Jersey’s economy through its support of jobs and businesses across the state, driving economic opportunity for its independent owner/operators, McDonald’s crew members, and suppliers. The Chicago-based icon is the biggest fast-food chain in New Jersey with 251 locations.
The study said McDonald’s direct, indirect, and induced economic activity accounted for more than $1.5 billion in GDP (gross domestic product) contribution in New Jersey, and it has direct impact of more than $616 million.
New Jersey is home to more than 250 McDonald’s restaurants — all locally owned — supporting 19,300 jobs with more than 40 owner/operators. The company said it directly provided more than 12,500 restaurant crew, manager, and field office jobs.
In addition, McDonald’s activity also contributed to more than 6,800 jobs in the state stemming from supply chain activities and workers spending their wages and salaries on consumer goods and services.
Nearly 65% of the McDonald’s owner/operators in New Jersey represent as Asian, Black or Latino, or female.
McDonald’s direct, indirect, and induced economic activity in New Jersey generated more than $429 million in federal, state, and local tax revenue in New Jersey.
Oxford Economics is a global economic advisory firm, providing data-driven insight, forecasting, and analysis to help organizations navigate complex economic landscapes.
