EXCLUSIVE: Anthony Constantino’s Sticker Mule delivers $2.7 billion economic boost to New York, new study finds
Sticker Mule has generated an estimated $2.7 billion in economic activity in New York over a decade, according to an independent economic study shared exclusively with the Washington Reporter, putting a substantial dollar figure on the Amsterdam-based manufacturer’s contribution to the state, helping its CEO in his run for Congress.
The new analysis, by Epsilon Economics, estimates that the company’s operations supported $681.5 million in wages and generated $49.5 million in tax revenue within New York from 2016 through 2025. More than $1 billion of the economic activity came from effects beyond Sticker Mule’s own operations, as suppliers and employees spent money across the state.
The report can be found here: Economic Impact Study
For CEO Anthony Constantino, the findings give major weight to an argument he has made about building a manufacturing business in upstate New York, which he spoke about during a previous interview with the Reporter.
“We started Sticker Mule to prove you could build a great company in Upstate New York,” Constantino said. “Upstate New York has been told for decades that manufacturing is finished here. We proved otherwise.” Constantino, the Republican nominee to succeed Rep. Elise Stefanik (R., N.Y.) in Congress, has leaned heavily on his business acumen during his time on the campaign trail.
Epsilon Economics’s study uses company financial information and IMPLAN economic modeling to estimate its direct contribution and the activity supported through suppliers and household spending.
The report’s authors bring experience studying some of the world’s largest events. Its lead author, Ryan Smart, has been commissioned to assess the economic impact of the Oscars, the College Football Playoff National Championship, and the FIFA World Cup. His co-authors’ experience includes economic studies of the Super Bowl and NBA All-Star Game.
Their findings show how Constantino’s business selling stickers, labels, magnets, buttons, and apparel can support a much wider network of employers.
The study estimates that Sticker Mules has contributed approximately $1.7 billion in direct spending on wages and operations, $642 million in indirect activity through purchases such as raw materials, manufacturing equipment, and shipping, and an additional $387 million in induced activity as workers and other businesses spend their earnings.
Manufacturing accounted for the largest share — approximately $1.77 billion. The services sector received an estimated $686.5 million, while wholesale and retail accounted for $188.4 million.
“When a business grows in a small city like Amsterdam, the whole region feels it,” Constantino added. “Our employees buy homes here, eat at restaurants here, and send their kids to school here. Our suppliers hire more people.”
The report estimates roughly 9,500 year-long equivalent jobs across the decade, including more than 4,000 outside Sticker Mule. That cumulative measure counts employment supported over successive years, rather than 9,500 current positions or distinct workers.
The company’s growth has also involved substantial investment in physical production. Sticker Mule purchased more than $81 million in New York fixed assets from 2015 through 2025, including buildings, land, machinery, and equipment.
Annual revenue grew from approximately $25 million in 2016 to $213 million in 2025, according to the report. Sticker Mule serves customers in more than 70 countries and operates manufacturing facilities in Amsterdam; Gaffney, South Carolina; and Pisa, Italy.
The study also documents contributions closer to home, including $12,000 to Amsterdam Youth Baseball and $27,000 to the Amsterdam Youth Soccer Club.
“The study puts a number on something our neighbors already know,” Constantino said. “Sticker Mule is proof that you can build a world-class company in upstate New York, and we intend to keep doing exactly that.”
