A Powerful Network of Real Estate Professionals

Founded in 1907, the Building Owners and Managers Association (BOMA) International is an international federation of more than 100 local associations and affiliated organizations. The 16,500plus members of BOMA International own or manage more than 9 billion square feet of commercial properties in North America and abroad.

BOMA International's economic impact study, “The Contribution of Office Building Operating Outlays on the U.S. and States’ Economies in 2009,” which details the impact of commercial office space on the national and local economies.
 
The figures give a powerful snapshot of our industry’s contribution to the economy, the jobs it supports and the subsequent earnings it generates. Some of the highlights of the report include:

• For each dollar of outlay for office building operations, the national economy gained $2.90 with the result that $40.8 billion in annual operating outlays contributed a total of $118.4 billion to GDP in 2009; 
   
• For each dollar of outlay for office building operations, workers in the U.S. realized an increase of $0.92 in personal earnings with the result that $40.8 billion in annual operating outlays generated a total of $37.6 billion in new earnings for workers residing within these office market areas and respective state economies in 2009; and
   
• For each $1 million in outlays for office building operations, 24.4 jobs were supported nationwide with the result that $40.8 billion in annual operating outlays supported a total of 994,728 jobs across all sectors of the national economy in 2009. This is in addition to the more than one million jobs supported directly as a result of these outlays for office building operations.

The study also drills into the economic impact of office space in each of the markets served by BOMA’s local associations. This information is detailed in Table 2 of the report and is broken out into four data columns: total outlay, total, per earnings and jobs.

• Total outlay is the total annual outlay for office building operations for commercial office buildings exceeding 10,000 square feet and not owner occupied. Government-owned office buildings are also excluded.
   
• Total output represents the total contribution of the annual outlays for office building operations in each office market to their respective state or metropolitan area’s economy (gross state product/gross regional economy).
   
• Per earnings represents the new personal earnings generated as a result of the office building operating outlays. These personal earnings represent new income that accrues to workers residing in the state or metropolitan area within which the local associations are located. This is new income earned by workers in businesses that benefit from the payroll spending of employees involved in the office building operations and the re-spending of the outlays across all sectors of the respective state or metropolitan area economies.
   
• The jobs column represents the employment impact of the total office building operating outlays for each of BOMA local association. These figures exclude jobs that directly support, manage or maintain office buildings (these are estimated at 20-25 full-time job equivalents per 100,000 square feet of office building). They do include those in businesses benefitting from payroll spending which tend to be local jobs in consumer goods and services, as well as those involved in the production and transport of materials used to clean and repair office buildings.

ContributionEconomic Impact Study, click here
Your Business Solution Provider, click here  
Your Dues Dolloars at Work, click here
2010 BOMA International Year in Review, click here
2011 Winter Business Meeting Recap, click here 
2011 Annual Convention and Every Building Show, click here 

BOMA’s mission is to enhance the human, intellectual, and physical assets of the commercial real estate industry through advocacy, education, research, standards, and information. 

BOMA focuses on four main benefits for its members.

Connectivity. Keeping members connected to the top commercial real estate issues, trends, statistics, news, and professional services delivered via our monthly electronic newsletters, bimonthly magazine, ground-breaking education programs, award-winning publications, and specialized online resources.

Leadership. Helping our members become better leaders through opportunities to serve committees, task forces, and interest groups. Membership encourages and supports initiative, innovation, collaboration, and decision-making and allows you to influence the profession through your ideas.    

Networking. Providing you with access to a valuable network of supporting professionals in the field, facilitating the sharing of experiences and the development and expansion of your business and career.

Advocacy. Protecting and advancing the commercial real estate industry at all levels of government before regulatory codes and standards bodies.

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