Economic Impacts of Commercial Real Estate, 2014 Edition

Submitted by: Stephen S. Fuller, PhD Dwight Schar Faculty Chair and University Professor; Director, Center for Regional Analysis, George Mason University, Arlington, Virginia

Release Date: June 2014

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The commercial construction sector continued its recovery in 2013, and forecasts for 2014 project accelerating construction spending in office, retail, commercial, health care and manufacturing facilities.

Combining the economic contributions of new development with operation of existing buildings in 2013, direct expenditures of $258.5 billion, resulted in the following economic contributions in the U.S. economy:

  • Contributed $747.25 billion to U.S. GDP (or 4.45 percent of GDP);
  • Generated $236.8 billion in personal earnings; and
  • Supported a total of 5.7 million jobs.

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