Executive order requires firearms companies and banks doing business with the State of New Jersey to have strong gun safety policies
September 10, 2019 — Giffords, the gun violence prevention organization led by former Representative Gabrielle Giffords, lauded New Jersey Governor Phil Murphy for announcing an executive order that directs the state to gather information on firearms manufacturers, firearms dealers, and banks doing business with New Jersey to determine if the companies have clear policies in place to promote gun safety.
Statement from Nico Bocour, state legislative director at Giffords:
“Families deserve to live without fear of gun violence. New Jersey is again showing the nation that strong gun laws and innovative solutions will save lives. Ensuring businesses have strong policies that respect gun safety keeps New Jersey communities safe. We applaud Governor Murphy for continuing to lead the Garden State with courage through these executive efforts.”
According to a Giffords Law Center report, the Economic Cost of Gun Violence in New Jersey, 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% 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. As a result, the direct annual cost of gun violence to New Jersey taxpayers is approximately $273 million.
Even more striking, when indirect costs that impact families and communities are factored in, the overall estimate of the economic cost of gun violence rises to $3.3 billion per year.