SAN
FRANCISCO, Dec. 14, 2022 /PRNewswire/ -- Prologis,
Inc. (NYSE: PLD), the global leader in logistics real estate, in
partnership with independent advisory firm Oxford Economics, today
released a new study on the economic impact of its global
operations encompassing approximately 1.2 billion square
feet1. According to the "The Future Flow of
Goods" report, 2.8% of the world's gross domestic product
(GDP) flows through a Prologis property (or nearly 3% of all goods
produced and sold globally came through a Prologis logistics
property in 2022).
"We are proud of the customers we serve and the important role
our facilities play in both delivering goods to the communities we
serve and employing more than one million people throughout those
communities," said Hamid R.
Moghadam, co-founder and CEO of Prologis. "This study
underscores the importance the logistics industry has on the global
economy and the essential nature of a fluid supply chain."
Other insights from the study include:
- $2.7 trillion of goods
produced or sold in the world went through Prologis facilities
in 2022, a 23% increase from 20202.
- 4.0% of GDP in Prologis markets: The $2.7 trillion of goods passing through a Prologis
facility represents 4.0% of the GDP in the 19 countries in which
Prologis operates, compared to 3.5% in 2020. (Prologis' portfolio
spanned 963 million square feet in 2020).3
- 2.8% of global GDP: The goods produced and sold that
came through a Prologis building represent 2.8% of global GDP, up
from 2.5% in 2020.4
- 36.2% of goods in the U.S.: In the United States, the economic value
representing 36.2% of goods consumption passes through a Prologis
facility; 12% of goods consumption passes through a Prologis
facility in Europe.
- $66 billion in tax impact:
Activities in Prologis facilities generate an estimated
$66 billion in total tax impacts from
the estimated $300 billion in
economic activity in Prologis' 19 countries of operation.
Oxford Economics and Prologis collaborated on the "Future Flow
of Goods" study in 2017 and updated it in 2020. This 2022 version
includes the data from Prologis' recent Duke Realty acquisition
that closed in October.
"The global impact of Prologis and the economic value their
warehouses facilitate showcases the size and scale of Prologis'
role in domestic and international trade," said Hamilton Galloway,
Head of Consultancy, Americas, Oxford Economics.
Visit Prologis' Economic Impact Report to view and download the
full report.
ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a
focus on high-barrier, high-growth markets. As of September 30, 2022, the company owned or had
investments in, on a wholly owned basis or through co-investment
ventures, properties and development projects expected to total
approximately 1.0 billion square feet (97 million square meters) in
19 countries. Prologis leases modern logistics facilities to a
diverse base of approximately 5,800 customers principally across
two major categories: business-to-business and retail/online
fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on current expectations, estimates and
projections about the industry and markets in which we operate as
well as management's beliefs and assumptions. Such statements
involve uncertainties that could significantly impact our financial
results. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," and "estimates," including variations
of such words and similar expressions, are intended to identify
such forward-looking statements, which generally are not historical
in nature. All statements that address operating performance,
events or developments that we expect or anticipate will occur in
the future—including statements relating to rent and occupancy
growth, development activity, contribution and disposition
activity, general conditions in the geographic areas where we
operate, our debt, capital structure and financial position, our
ability to form new co-investment ventures and the availability of
capital in existing or new co-investment ventures—are
forward-looking statements. These statements are not guarantees of
future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and, therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. Some of the factors that may
affect outcomes and results include, but are not limited to: (i)
national, international, regional and local economic and political
climates; (ii) changes in global financial markets, interest rates
and foreign currency exchange rates; (iii) increased or
unanticipated competition for our properties; (iv) risks associated
with acquisitions, dispositions and development of properties; (v)
maintenance of real estate investment trust status, tax structuring
and changes in income tax laws and rates; (vi) availability of
financing and capital, the levels of debt that we maintain and our
credit ratings; (vii) risks related to our investments in our
co-investment ventures, including our ability to establish new
co-investment ventures; (viii) risks of doing business
internationally, including currency risks; (ix) environmental
uncertainties, including risks of natural disasters; (x) risks
related to the current coronavirus pandemic; and (xi) those
additional factors discussed in reports filed with the Securities
and Exchange Commission by us under the heading "Risk Factors." We
undertake no duty to update any forward-looking statements
appearing in this document except as may be required by
law.
______________________________
|
1 Data as of
October 3, 2022, inclusive of Duke Realty.
|
2 Based on
2020 data per Oxford Economics report
|
3 Per Oxford
Economics, it is important to note that GDP represents the total
value of all final goods and services production. Some warehouses
may be used to store intermediate goods (i.e. components used in
the production of final goods), and of course services do not need
to be stored, and a single good will often be stored in multiple
warehouses on its way to final consumers.
|
4 Per Oxford
Economics, it is important to note that GDP represents the total
value of all final goods and services production. Some warehouses
may be used to store intermediate goods (i.e. components used in
the production of final goods), and of course services do not need
to be stored, and a single good will often be stored in multiple
warehouses on its way to final consumers.
|
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SOURCE Prologis, Inc.