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Report: New commercial real estate development contributes $2.5T to US GDP

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New commercial real estate development contributed $2.5 trillion to the U.S. economy in 2023, according to the newly released Economic Impacts of Commercial Real Estate research study.

The study conducted by the NAIOP Research Foundation found direct expenditures in the industry came to $913.1 billion last year.

“Overall, commercial real estate continues to be a vibrant and important contributor to the nation’s economy,” said Marc Selvitelli, president and CEO of NAIOP, in a Connect CRE article.

Read more from Connect CRE.

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