“Unlock the Full Potential of the Commercial Real Estate Industry So More Americans Can Share in the Recovery,” Says NAIOP
WASHINGTON, D.C. – January 21, 2015 – (RealEstateRama) — In preparation for President Obama’s State of the Union Address on Tuesday evening, Thomas J. Bisacquino, President and CEO of NAIOP, the Commercial Real Estate Development Association, today released the following statement:
“The American economy is finally showing signs of renewal, and we are hopeful the president will outline a proposal for working with Congress to ensure federal tax policy treats our industry fairly and promotes private sector job growth. Absent a comprehensive tax overhaul, which we support, it’s critical that current tax policy be renewed so that investors and developers continue to take financial risk.”
“In addition to tax reform, we encourage the President to press for added investment in transportation and infrastructure. Commercial real estate is where America works, shops and plays, so we need good road, rail, air and transit systems so they can get there.”
“The commercial real estate industry contributed $376 billion to GDP last year, supported 2.8 million jobs, and produced $120 billion in personal earnings. Despite better growth in 2014, our industry could create significantly more jobs and economic punch with smart infrastructure investment and consistent tax policy from the federal government. We stand ready to work with the President and Congress to unlock the full potential of the commercial real estate industry so that more Americans can share in the recovery.”
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About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.