Economic Impact, Trends of US CRE

Development, construction and ongoing operations of new commercial real estate in the United States – office, industrial, warehouse and retail – generates significant economic growth at the state and national levels, supporting 6.25 million American jobs and contributing $861 billion to U.S. GDP in 2016.

The annual study “Economic Impacts of Commercial Real Estate,” published by the NAIOP Research Foundation, measures the contributions to GDP, salaries and wages generated, and jobs created and supported from the development and operations of commercial real estate.

  • Commercial real estate development, construction and ongoing operations supported 6.25 million American jobs in 2016 (a measure of both new and existing jobs).
  • Commercial real estate development, construction and ongoing operations contributed $861 billion to U.S. GDP in 2016.
  • There were 410 million square feet of office, retail, warehouse and industrial built in 2016, with capacity to house more than 1 million new workers with a total estimated payroll of $57.6 billion.

“The importance of commercial development to the U.S. economy is well established, and the industry’s growth is critical to creating new jobs, improving infrastructure, and creating places to work, shop and play,” said Thomas Bisacquino, NAIOP president and CEO. “Commercial real estate is a robust contributor to national and state economies, and NAIOP is dedicated to working with the administration, Congress and state legislators to develop bipartisan infrastructure investment and incentives for capital investment that empowers our industry to expand.”

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