NAIOP: Texas Led Nation in Economic Impact From Commercial Development in 2018
HERNDON, VA. — Commercial real estate development in Texas contributed $62.2 million in value to the state’s economy in 2018, the highest total among the 50 states, based on data tracked by Virginia-based NAIOP’s annual Economic Impacts in Commercial Real Estate report. Commercial development in Texas also created and supported approximately 401,000 jobs, also good for the top spot in the country. In addition, Texas ranked No. 1 in terms of economic value created through retail development, as well as in development of warehouse/flex projects, which includes logistics and distribution facilities. NAIOP is an organization that provides statistical data, trend-based research and legislative representation for the commercial real estate industry.