November 17, 2024 5:26 am
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AZ No. 8 for industrial and warehouse development

By AZRE | AZ Big Media

New development of commercial real estate and of the ongoing operations of existing commercial real estate buildings in the United States – office, industrial, warehouse and retail – supported 8 million American jobs, contributed $1.01 trillion to the U.S. GDP in 2020, and generated $338.1 billion in personal earnings – according to “Economic Impacts of Commercial Real Estate, 2021 U.S. Edition,” a study released this week by the NAIOP Research Foundation. And Arizona industrial and warehouse development played a major role in that economic impact.

According to the report, Arizona is the No. 8 state in the U.S. for contributions to state GDP created by industrial (manufacturing facilities) development, and also the No. 8 state for warehouse (e-commerce distribution facilities) development. Overall, construction and development of Arizona industrial and warehouse, office, and retail created and supported 83,805 related jobs and contributing $11 billion to the state’s economy in 2020 (the most recent data available).

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.