Development and construction of new commercial real estate –
office, industrial and retail buildings – continued its climb in 2012,
supporting approximately 2.3 million American jobs and contributing $303.4
billion to the nation's economy, marking the second year that the sector posted
gains since 2007, according to a new report released this week by the NAIOP
Research Foundation (Commercial Real Estate Development Association).
Commercial
real estate alone supported at least 2.3 million American jobs in 2012
Commercial
real estate contributed $303.4 billion to U.S. GDP, a 16% increase from 2011
Construction
and development spending grew nearly 10% from 2011
307.5
million square feet built in 2012, a 29% increase from 2011
Top Ten States for Commercial Real Estate:
1. New York, $4.80 billion in spending, supporting 122,600
jobs
2. Texas, $4.34 billion in spending, supporting 162,877 jobs
3. Iowa, $2.92 billion in spending, supporting 85,753 jobs
4. California, $2.88 billion in spending, supporting 96,572
jobs
5. Ohio, $2.04 billion in spending, supporting 76,830 jobs
6. Florida, $1.97 billion in spending, supporting 78,274
jobs
7. Massachusetts, $1.78 billion in spending, supporting
49,653 jobs
8. North Carolina, $1.75 billion in spending, supporting
68,819 jobs
9. Illinois, $1.64 billion in spending, supporting 56,654
jobs
10. Georgia, $1.58 billion in spending, supporting 61,715
jobs
