Shopping Centers Today

JUL 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Page 57 of 59

T H E L A S T S T O P R E TA I L T R E N D S AT A G L A N C E HOW DOES RETAIL REAL ESTATE AFFECT THE U.S. ECONOMY? 58 S C T J U L Y 2 0 1 8 Sources: ICSC, U.S. Census Bureau, Bureau of Economic Analysis, Fortune, 24/7 Wall St., CoStar, JREPM, and NAIOP. Values as of May 2018. To learn more, visit . . IT IS A CRITICAL REVENUE SOURCE FOR COMMUNITIES • Local property taxes: $68.8 billion annually • State sales taxes: $321.8 billion annually IT CREATES U.S. JOBS e retail real estate industry directly supports 34.8 million jobs. In total, the industry accounts for 2 out of 5 U.S. jobs. RETAIL JOBS ARE MORE THAN JUST RETAIL 48.4 percent of retail-real-estate- related jobs are in nonretail industries, such as health care, fitness and other professional services IT DRIVES U.S. GDP e retail real estate industry's total GDP impact is $3.9 trillion, accounting for 20 percent of GDP IT IS BIG BUSINESS ICSC members represent 21 percent of the Fortune 100 and are the largest employers in 23 states IT EQUALS ECONOMIC DEVELOPMENT $34.7 billion spent annually in the con- struction of retail and entertainment properties creates $100.5 billion in total economic activity IT IS SMALL BUSINESS 70 percent of retail-real-estate- related establishments have fewer than 10 employees IT IS A VALUABLE U.S. ASSET U.S. retail real estate is valued at some $3.1 trillion IT IS STILL KING 90.1 percent of all sales are generated by retailers with physical establishments — just 5.2 percent come from pure-play e-tailers

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