BUILDINGS - Smarter Facilities Management

01/28/2015

Facilities Management Benefits Local Economies

Building expenditures shown to benefit workers, businesses

 
Commercial building

The costs of operating a building benefit local businesses, create job demand, and contribute to U.S. gross domestic product (GDP), according to a new survey from BOMA. Where America Goes to Work: The Contribution of Office Building Operations to the Economy, 2014, shows that in 2013, the 10.4 billion square feet of office space within the areas covered by BOMA International’s local associations created $82.4 billion in operating expenditures to the benefit of local businesses and workers.

The study, which covered workspaces for around 46.6 million people, demonstrates that for every dollar spent on operations and maintenance, the national economy gained $2.76, resulting in a contribution to the GDP of over 227 billion in 2013. The operating costs also supported over 1.8 direct, indirect, and induced jobs, including nearly 32% directly related to building operations. Additionally, each dollar spent helped U.S. workers realize an additional 87 cents in personal earnings. The study covered a wide variety of buildings, including those occupied by tenants, owned by tenants, and government facilities.

“While the construction of new office buildings is often noted as providing important economic benefits, once this construction is completed and these new buildings are occupied, the economic benefits of their operations continue for the life of the building,” says Stephen S. Fuller of George Mason University, lead author of the report.

 

 

 


 
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