Texas generates $4.34B in commercial activityTexas generates $4.34B in commercial activityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=58032013-11-06T13:29:00Z2013-11-06T00:00:00Z

TEXAS - The Lone Star state placed second on a list of states with the most commercial real estate development activity by generating 162,877 jobs and $4.34 billion in new projects and spending related to commercial real estate in 2012, according to the NAIOP Research Foundation.

New York took the top spot in the report.

“These advances and increased projects are paramount to continued growth in the country, as the U.S. economy cannot achieve sustained expansion in the absence of the development industry’s full recovery,” said Stephen Fuller, a professor at George Mason University.

Nationwide, development and construction of new commercial real estate contributed $303.4 billion to the economy — up 16 percent from 2011 — and supported about 2.3 million jobs, marking the second year that the sector posted gains since 2007.

The report was produced using data provided by the Bureau of Economic Analysis, U.S. Department of Commerce, U.S. Census Bureau, McGraw Hill Construction and a NAIOP member survey.

Houston Chronicle
http://blog.chron.com/primeproperty/2013/11/texas-nearly-tops-for-commercial-real-estate/Read more at {Source}

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