According to a report released by the Commercial Real Estate Development Association on July 22, industrial construction spending in Louisiana led the nation in 2013. The NAIOP report also ranked Louisiana second in overall commercial real estate construction. Industrial construction in the state amounted to $4.9 billion during 2013. This was more than double the amount spent in Iowa, which was the second state on the list.
Overall commercial construction in Louisiana amounted to $5.5 billion in 2013, narrowly beaten by the $5.8 billion spent in Texas. New York came in third with $4.8 billion. Commercial construction figures include investment in warehouse, office and industrial projects as well as retail and entertainment ventures. The bulk of the Louisiana commercial real estate investment was in the industrial sector. Retail and entertainment ranked 12th in the nation, office construction ranked 23rd, and warehouse projects came in 26th.