How Your Local Calgary Scrap Yard Can Help the Economy
The scrap metal recycling industry is an integral part of the Canadian economy. Not only are metal materials used prolifically throughout modern society, but they are also highly recyclable. This cyclical process of turning old scrap metals into new usable materials creates an economic engine centered on local scrap yards such as Calgary's Federal Metals.
Production Costs, Jobs, and Tax Revenue
Humanity learned thousands of years ago that using recycled metal rather than mining new ore greatly reduced the production cost of new metal items, providing an economic advantage. Recycling scrap metal continues to reduce production costs today. It helps manufacturers become more competitive and drives innovation behind new technologies, which provides further economic boosts.
The recycling industry in Canada is also a huge source of employment, creating both high-skill and low-skill positions. It is estimated, in fact, that the recycling industry creates ten jobs for every one job created by the waste industry, and that many of these jobs offer pay at above the minimum wage.
Government employees likewise rely on the scrap metal industry for the generation of local, provincial, and federal tax revenue. This revenue is pumped back into the economy by paying the salaries of government employees and by funding programs to help stimulate economic growth and employment.
Metal Recycling Industry Growth
The metal recycling industry in Canada experienced a market growth of 33% from 2006 to 2012, and is expected to increase another 20% from 2013 to 2018. Some of this growth has been driven by the ever-growing awareness of the environmental and economic benefits of using recycled metal.
This awareness is growing not only in Canada, but all around the world. Exports, which have always been a significant source of growth in the scrap metal recycling industry, recently got a boost from the signing of the Trans-Pacific Partnership. The industry now has greater access to emerging markets in Asia, which hold over 800 million potential customers.
Visit Your Local Scrap Yard Today
You can help stimulate the scrap metal recycling industry and earn yourself some extra cash while you're at it by recycling the scrap metal lying around your home or workplace. Bring your scrap metal to the Calgary scrap metal recyclers and suppliers at Federal Metals, or get in touch with us first if you have any questions.