Industry News




06/26/2012

Building Operations: $205 Billion to GDP, 1.5 Million Jobs

 
Building Operations are contributing $205 billion to the GDP and 1.5 million jobs.

The Building Owners and Managers Association (BOMA) International has announced the release of Where America Goes to Work: The Contribution of Office Building Operations to the Economy, 2012, which details the impact of commercial office space on the national and local economies. The report shows that the short- and long-term expenditures that sustain office building operations—management, maintenance, repairs, building services and utilities—generate significant, continuous and growing expenditures that support local businesses, create job demand and contribute significantly to U.S. gross domestic product (GDP).

The 2012 Study finds that the 9.9 billion square feet of commercial office space located within the 94 markets served by BOMA International’s 93 local associations generated $79.7 billion in direct operating expenditures in 2011 to the benefit of workers and businesses within their host jurisdictions— enough to build One World Trade Center 20 times over.

Key highlights of the study:

For each dollar spent on office building operations, the national economy gained $2.57, with the result that $79.7 billion in annual operating expenditures contributed a total of $205.1 billion to the gross domestic product (GDP) in 2011—equivalent to the state of California’s annual budget;

For each dollar spent on office building operations, workers in the United States realized an increase of $0.76 in personal earnings, generating a total of $61.0 billion in new earnings for workers residing within these 94 office market areas and respective state economies in 2011;

For each $1 million in expenditures for office building operations, 19.6 jobs were supported nationwide. As a result, $79.7 billion in annual operating expenditures supported a total of 1.6 million indirect jobs across all sectors of the national economy in 2011—about the same number employed by McDonald’s worldwide—in addition to an estimated 2.2 million more jobs directly related to the on-site management and operations of the buildings; and,

The 9.9 billion square feet of commercial and government-owned office space located in the 94 markets served by BOMA’s 93 local associations provided workspace for an estimated 44.3 million office jobs.

 

 


Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.

 


Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.


 
comments powered by Disqus
05/28/2015

Clean energy consumption reaches highest level since 1930s.

05/27/2015

Study shows escalating risk for electrical reliability.

05/26/2015

Funding, climate change blamed for drop in implementation.

05/22/2015

Initiatives will improve lamp efficiency and lighting controls.

05/21/2015

Building policy highlighted as best in the nation.

05/20/2015

Healthcare facilities focus on recycling, safer chemicals.

05/19/2015

Building design has a measureable impact on educational outcomes.

05/18/2015

Glass design repels water and boosts photovoltaic output.

05/15/2015

New method could improve sustainability, cut price of wind power.

05/14/2015

ASHRAE guideline will calculate cooling needs and cut plug loads.

05/13/2015

Legislation will improve green performance in commercial buildings.

05/12/2015

Dropping costs, improved efficiency cited as reasons for increased use.

05/11/2015

New goal to keep state under global warming threshold.

05/08/2015

Largest floor space increases found in healthcare, retail sectors.

05/04/2015

New efficiency measures will affect over 2,000 buildings.

05/01/2015

Device produces images indefinitely.

04/30/2015

Overall energy consumption growth will be modest through 2040.

04/29/2015

Over 400 buildings take part in the EPA’s Federal Green Challenge.

04/28/2015

Fortune 200 companies use green certification to verify sustainability, energy savings.

04/27/2015

New policy will affect over 1,000 buildings.

Sponsored Links