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Texas Ranks #1 in NAIOP CRE Construction Rankings
Texas is the #1 state in the country for commercial real estate development, that’s according to a a recently released NAIOP survey. When it comes to commercial real estate development, Texas is tops in the U.S. for overall contributions of real estate to state GDP of $183.97 billion, $70.32 billion in direct spending, $69.2 billion in personal earnings, and 1,212,000 jobs supported in 2022.
Nationally, the impact of new commercial real estate development in the U.S. continues to grow.
The combined economic contributions of new commercial building development and the operations of existing commercial buildings in 2022 resulted in direct expenditures of $826.9 billion and the following impacts on the U.S. economy:
• Generated $831.8 billion in personal earnings.
• Supported 15.1 million jobs.
NAIOP’s Marc Selvetelli says commercial real estate will continue to be an economic leader, “The data in the report are strong economic indicators of commercial real estate development investment, job growth, and subsequential contributions to the U.S. economy.”
- ◦Economy
