Top Ten States for Commercial Real Estate
As the recovery continued, states from coast-to-coast generated new projects and billions in spending. The states below posted the highest construction values for development of office, industrial, warehouse and retail commercial real estate (number in parenthesis refers to that state’s top-ten rank in 2011):
1. New York (Previous rank: 2), $4.80 billion in spending, supporting 122,600 jobs
2. Texas (1), $4.34 billion in spending, supporting 162,877 jobs
3. Iowa (NR), $2.92 billion in spending, supporting 85,753 jobs
4. California (4), $2.88 billion in spending, supporting 96,572 jobs
5. Ohio (NR), $2.04 billion in spending, supporting 76,830 jobs
6. Florida (7), $1.97 billion in spending, supporting 78,274 jobs
7. Massachusetts (9), $1.78 billion in spending, supporting 49,653 jobs
8. North Carolina (10), $1.75 billion in spending, supporting 68,819 jobs
9. Illinois (8), $1.64 billion in spending, supporting 56,654 jobs
10. Georgia (NR), $1.58 billion in spending, supporting 61,715 jobs
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For more information, visit www.naioprf.org.
