The population of the Southeast has grown substantially over the past decade to 36.3 million residents. The region will continue to experience some of the most pronounced growth in the nation with a projected 5.5% population change over the next five years, outpacting the national rate of 3.5%.
South Florida boasts the largest population in the Southeast region at nearly 6.9 million residents. Though the concentration of material moving and production workers are lower than the national average, the market’s target blue collar demographic labor pool is more robust. Southeast markets have a higher concentration of the sector’s target blue collar demographic than the nation as a whole, and South Florida has a target blue collar demographic volume of 971,759.
To support this increased population, the region has also experienced an industrial boom to meet the growing demand of the populace. A plethora of industries have located to and expanded in the Southeast, driven by a surge from e-commerce, 3PL distribution, and manfucturing businesses.
Industrial vacancy in South Florida has decreased substantially since the end of 2020, falling to a record low of 2.9%. Net absorption reached a record high in 2021 with more than 11.4 msf of occupancy gains.
Click here to read and download the Southeast Industrial Labor Report.