Demand for industrial space has risen to record-breaking heights in the Southeast, emphasizing the need both for adequate physical space and for skilled and affordable labor.
This Southeast Industrial Labor Report breaks down the current trends in the industrial labor market and identified the following key takeaways:
- 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, well beyond the national rate of 3.5%.
- 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 in manufacturing, e-commerce, and 3PL businesses.
- The labor pool has increased in tandem with the rise in industrial businesses. Southeast markets have a higher concentration of the sector’s target blue collar demographic than the nation as a whole.
This report highlights the 13 key metropolitan areas in the Southeastern states of Florida, Georgia, North Carolina, South Carolina, and Tennessee, looking at the interplay between the supply and demand for industrial labor in the warehouse and manufacturing sectors and the supply and demand for industrial space. Key markets covered include: