Florida ranks among top 10 states for commercial real estate construction value

Commercial construction
Photo credit: Jim Carchidi/BizJournals.com

Gov. Rick Scott announced Friday that Florida is ranked among the top ten states in the nation for construction values for the development of office, industrial, warehouse, and retail commercial real estate development in 2012 according to a national report released by the National Commercial Real Estate Development Association.

According to the report, Florida was No. 7 in 2010, increasing from seven to six in national ranking from 2010 to 2012.

“Florida’s improved ranking in commercial real estate development value is yet another indicator that it’s working,” Scott said in a statement released by his office. “When I took office, Florida’s real estate market had collapsed. Since then we have cut taxes, made strategic investments and cut government waste, and today Florida’s economy is providing more opportunities for Florida families. We still have more work to do, but these gains are important signs of Florida’s economic growth.”

Florida was sixth on the list of the top ten states for commercial real estate, posting $1.97 billion in construction value for the development of office, industrial, warehouse, and retail commercial real estate, supporting 78,274 jobs, according to the report, the governor’s statement said.

The report said commercial real estate supported 2.3 million American jobs in 2012 nationwide and contributed $303.4 billion to the U.S. GDP, as well as nearly 10 percent growth in construction and development spending from 2011, according to the statement.

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