The Hollowing Out of America!
Outsourcing middle income jobs overseas is devastating for REITs, institutional and individual office and industrial building owners, a leading expert in corporate site selection told a news conference at National Manufacturer?s Week. A new study revealed three consequences of outsourcing that impact US real estate: More than $1.2 billion in office rent is lost annually due to jobs shipped abroad 8,500 manufacturing plants, on average, close annually due to outsourcing.Approximately 54 million square feet of office space?the equivalent of one-third of the Chicago central business district?goes ?dark? every year as a result of outsourcing. Download complete story and an Executive Summary of the study in PDF format.