- Nationally, the apartment industry and its residents contributed $1.1 trillion to the economy in 2011, or more than $3 billion every day. This combined spending supported 25.4 million total jobs.
- Within the Philadelphia metro area, the apartment industry spent $152 million on new apartment construction, creating a total economic contribution of $331 million supporting 2,400 local jobs.
- The apartment industry spent $1.5 billion operating the metro's 341,000 apartment units, generating a total economic contribution of $3.2 billion supporting 26,000 local jobs -- more than nine times the impact of apartment construction.
- Within Pennsylvania, apartment construction contributed $438 million to the state economy supporting 3,200 jobs in 2011.
- Operating the state's 584,000 apartment homes created a total economic impact of $5.1 billion to Pennsylvania supporting 66,900 jobs.
- Pennsylvania's 874,000 apartment residents spent $11.0 billion on goods and services within the state in 2011, creating a total economic impact of $23.1 billion supporting 594,000 jobs.
- Neighboring state New Jersey received a $37.5 billion economic contribution supporting 881,000 total jobs from the combined apartment construction, operations and resident spending.
Study: Apartment Construction And Operations Contributed $3.5 Billion To Philadelphia Economy
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