North Carolina is the sixth highest-ranking state in the U.S. for overall contributions of commercial real estate to state GDP with $44.1 billion, $19.1 billion in direct spending, $16.7 billion in personal spending, and 312.1 million jobs supported in 2023 (the most recent data available).
- Industrial (includes manufacturing): North Carolina ranks #4
- Warehouse: North Carolina ranks #7
- Retail: North Carolina ranks #7
The data is from “Economic Impacts of Commercial Real Estate, 2024 U.S. Edition” published annually by the NAIOP Research Foundation.
Nationally, the impact of new commercial real estate development in the U.S. continues to grow.
The combined economic contributions of new commercial building development and the operations of existing commercial buildings in 2023 resulted in direct expenditures of $913.1 billion and the following impacts on the U.S. economy: