The Toy Association leads the health and growth of the U.S. toy industry, which has an annual U.S. economic impact of $102.8 billion, and represents hundreds of companies including manufacturers, retailers, licensors, and others who are involved in the youth entertainment industry. Its manufacturing members drive the annual $41 billion U.S. domestic toy market. It was founded in 1915 by
A. C. Gilbert, as the Toy Manufacturers of America, and he became its first president. The average price of a toy is around $10, but the estimated 3 billion units sold across the United States each year generates approximately $41 billion in direct toy sales. From toy inventors to store clerks, the toy industry supports an estimated 573,379 jobs (FTE) generating more than $33.8 billion in wages for U.S. workers. The toy industry generates $11.1 billion in tax revenue each year. ==Toy of the Year Awards==