Development and construction of new commercial real estate in the United States – office, industrial, warehouse and retail – generates significant economic growth at the state and national levels. This annual study, “The Economic Impacts of Commercial Real Estate, 2021 U.S. Edition,” published by the NAIOP Research Foundation, measures the contribution to GDP, salaries and wages generated and jobs supported from the development and operations of commercial real estate.
Commercial real estate development and operation of existing buildings generated the following economic benefits:
- Supported 8.0 million American jobs in 2020 (a measure of both new and existing jobs).
- Contributed $1.01 trillion to U.S. GDP.
- Generated $338.1 billion in salaries and wages.