Economic Impacts of Commercial Real Estate, 2022 U.S. Edition

By: Brian Lewandowski, Jacob Dubbert, Michael P. Kercheval, Ph.D., and Richard Wobbekind, Ph.D.

Release Date: January 2022

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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, 2022 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 in 2021:

  • Supported 8.5 million American jobs.
  • Contributed $1.2 trillion to U.S. GDP.
  • Generated $418.7 billion in salaries and wages.

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