DALLAS (Dallas Morning News) – Despite the pandemic, commercial real estate development contributed more than $65 billion to the Texas economy in 2020.
That’s more than any other U.S. state, according to an NAIOP study.
The sector’s contribution to the state economy was up from the estimated $54 billion in 2019 despite the pandemic’s economic drag.
Commercial development activities supported more than 428,000 Texas jobs last year, up from 380,000 the year before.
In 2020, nationwide development of projects—including office, industrial, warehouse, and retail—contributed $1.01 trillion to the U.S. economy and generated $338.1 billion in personal income.
