Economic Impacts of Commercial Real Estate, 2015 Edition

By: Stephen S. Fuller, Ph.D.

Release Date: June 2015

In 2014, the commercial real estate development industry experienced its best year since 2007. This year’s edition of the annual report determined that the economic contributions made by the development process last year were 40 percent higher than those made in 2013. The data show that 2014 was the strongest year for economic development impacts from development activity since the market began to recover in 2011. Direct expenditures for 2014 totaled $174.31 billion, up from $124 billion the year before, and resulted in the following economic contributions to the U.S. economy:

  • Total contribution to U.S. GDP reached $528.09 billion, up from $376.35 billion in 2013.
  • Personal earnings (or wages and salaries paid) totaled $168.42 billion, up from $120.02 billion in 2013.
  • Jobs supported (a measure of both new and existing jobs) reached 3.94 million in 2014, up from 2.81 million the year before.