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. Commercial real estate is a robust contributor to national and state economies. The work of developers and their capital investment empowers our industry to expand.

Dopkins team of dedicated and experience industry experts work closely with developers and together they navigate the financial, economic and regulatory landscape of this important industry sector.

For more information, contact Teresa Majors CPA at tmajors@dopkins.com.