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Billions of square feet, millions of jobs, millions of tax dollars generating even more jobs....the impact of commercial real estate—as measured by the performance of BOMA’s Association network alone—is staggering.

Commercial real estate is one of the country’s leading employers, supporting 1.75 million jobs overall.

And let’s hear it for BOMA power! Last year, U.S. BOMA members provided work space for approximately 46.9 million office jobs—meaning roughly one-third of all U.S. workers go to the office every day in a BOMA owned and/or managed space!

Here are some key stats that you can find alongside local NYC data in BOMA's latest in-depth, economic impact study: Where America Goes to Work: The Contribution of Office Building Operations to the Economy, 2016.

• 10.5 billion square feet of commercial office space located within the markets served by BOMA’s local associations contributed $234.9 billion to the gross domestic product (GDP) of the U.S. in 2015 through operational expenditures of almost $90 billion...$7 billion more than 2014

• The $89.1 billion in annual operating expenses generated by these buildings supported more than 1.75 million jobs across the U.S.

• For every $1 spent on office operations, 19.6 jobs were supported nationwide, the U.S. economy gained $2.64 and U.S. workers realized an increase of $0.76 in personal earnings.

There’s a wealth of information in this report, including a breakdown of how office building operations affects state and local economies, tallies of the amount of real estate taxes generated, and much more. Take advantage of this data mine now at www.boma.org/EconomicImpact.

BOMA/NY
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