Due to a rising population, healthy economic growth, and surging e-commerce sales, the West and Southwest industrial markets registered record demand for industrial space to satisfy the region’s consumer base, specifically within the key metros.
The West/Southwest Labor Report External Link breaks down the current trends in the industrial labor market and has identified the following key takeaways:
- 3PL, consumer goods, and e-commerce users expanded throughout the region at a record pace over the past few years, pushing many regional industrial markets to new heights.
- The surge in population growth has propelled industrial activity for most occupier types, which has shifted the supply and demand fundamentals of the industrial workforce in the region.
- Investments in manufacturing from large companies will further accelerate growth with suppliers and others entering those markets in the region.
The report highlights 15 key metropolitan areas in close proximity to major industrial markets in the West and Southwest across California, Oregon, Washington, Idaho, Colorado, Nevada, Arizona and Texas. It also looks at the interplay between the supply and demand for industrial labor in the Warehouse and Manufacturing sectors as well as supply and demand for industrial space in the region.
Key industrial markets covered include: