ESA Study Finds Game Industry Growing Faster Than U.S. Economy

An unsurprising study funded by the Entertainment Software Association found that the industry is performing relatively phenomenally, with 17% annual growth from 2003 to 2006. The ESA boasts that this rate trumps the 4% annual growth of the overall economy, basically saying "in your face" to less fortunate industries.

"Computer and video game companies play an ever increasing role in our nation's growing economy," said ESA CEO Michael Gallagher. "These companies and their colleagues across the nation are making entertainment software one of the fastest growing industries in the United States."

The study by Economists Incorporated for the Entertainment Software Association found that the industry directly employed 24,000 individuals as of 2006 with an average salary of $92,300. In that year, the industry added $3.8 billion to the U.S. GDP.

California, a hotbed for the gaming industry, employed 40% of the industry's workers last year. The state's gaming industry grew by 12.4 percent and added $1.7 billion to California's economy, the study found.