THE HOME DEPOT SUPPORTED 2.2 MILLION JOBS NATIONWIDE IN 2022, CREATING FOUR ADDITIONAL JOBS FOR EVERY ASSOCIATE IT EMPLOYED

ATLANTA, Dec. 6, 2023

ATLANTA, Dec. 6, 2023 /PRNewswire/ -- The Home Depot's total contribution to the U.S. economy was $215 billion in 2022, which exceeds the current-dollar gross domestic product (GDP) of 18 U.S. states, per the U.S. Bureau of Economic Analysis. This and other findings were released in the company's fiscal year 2022 Economic Impact Project, conducted in partnership with PwC, which provides details on the economic impact of the company's U.S. operations at the national and state levels.

Using the IMPLAN modeling system, PwC found that for every one job at the company, more than four additional jobs are supported across the U.S. economy, which is more than twice the retail average. This includes jobs in construction, manufacturing, agriculture, transportation and warehousing. The Home Depot supported 2.2 million jobs last year, more than 400,000 of which were directly created by the company, and supported billions of dollars in wages, salaries and benefits. In 2022, the company promoted 65,000 associates in the U.S.

The Home Depot's economic impact goes far beyond the jobs it creates and supports. The taxes paid and generated by the company contribute significantly to the communities it serves, helping build roads, schools and other core infrastructure. PwC's analysis found that the ecosystem of jobs and commerce created by The Home Depot contributed $60 billion of total tax impact at the federal, state and local level. The company directly contributed over $22 billion to government finances in 2022, including taxes paid by The Home Depot, collected on its sales and paid by its associates in income taxes. The Home Depot paid approximately 1% of the total net corporate income taxes collected by the U.S. government in 2022.

"When The Home Depot opens in a neighborhood, we're committed to doing our part – whether that's helping people improve their homes, building careers for our associates and Pro partners, or contributing to our communities through the taxes we pay," said Richard McPhail, executive vice president and chief financial officer of The Home Depot. "Our core values guide everything we do, and the way our associates give back to their neighborhoods is an enduring legacy of our company's success." 

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