Griffin Capital Company, a private real estate investment manager and a sponsor of qualified opportunity zone funds, has announced the findings from its Economic Impact Analysis report.
The Economic Impact Analysis report provides insights into the estimated contributions to local economies resulting from the development and operations of the multifamily communities within Griffin Capital's qualified opportunity zone funds. These projections are based on estimated development costs and operational data as of June 30, and cover the expected hold period of each property.
Key findings included:
$7.1 billion total estimated economic impact.
3,231 estimated average annual jobs supported across the development and operational phases.
$5.1 billion in direct economic impact from the development and operations of the multifamily properties.
$728 million in indirect effects, reflecting business-to-business transactions across the