#United States #San Francisco #Global Trade #Economic Impact #Prologis

Prologis's Significant Role in Global Trade

Prologis, Inc. has always been recognized as a leader in logistics solutions, and a recently released report from Oxford Economics sheds light on its immense impact on the global economy. According to the findings, in 2024 alone, a staggering nearly $3.2 trillion worth of goods flowed through Prologis warehouses. This number corresponds to approximately 2.9% of the entire world's gross domestic product (GDP), underscoring the company's vital presence in international trade.

The report further highlights that the operations conducted within Prologis's vast portfolio, which spans 1.3 billion square feet, have supported around 3.6 million jobs worldwide. This figure includes direct, indirect, and induced jobs attributable to the economic activities generated through Prologis's facilities. In total, these operations have contributed an impressive $348 billion to the global economy.

Key Findings from the Future Flow of Goods Report

The 2024 Future Flow of Goods report has presented remarkable statistics, one of which reveals that $77 billion in global tax revenues was generated from economic activities in Prologis warehouses. Furthermore, employment gains were especially notable in countries such as Mexico, where job numbers surged by 91%, and Canada, where they increased by 47%. Overall, Prologis saw an 8% increase in direct warehouse jobs worldwide since 2022.

Hamid R. Moghadam, Prologis's co-founder, chairman, and CEO, quoted, "Our customers depend on fast, reliable logistics to meet the needs of their businesses and communities. We are the critical link that keeps goods, services, and local economies moving." Such statements reflect the essence of Prologis's operations, emphasizing their significant role in sustaining economic activity.

Economic Impact in the US

In the U.S. alone, Prologis operates across 22 states, with goods moving through their warehouses accounting for an impressive $2 trillion in throughput. California led the way with a remarkable $465 billion in goods managed, which in turn supported 162,000 direct jobs and generated a total GDP impact of approximately $54 billion. Texas followed with $273 billion in goods and over 223,000 jobs, showcasing the company’s immense influence on state-level economies.

Illinois, Georgia, and Pennsylvania also showcased significant throughput, each contributing over $100 billion in goods and supporting tens of thousands of direct jobs in their regions. All these locations demonstrate how deeply ingrained Prologis is in the nation's economic framework.

A Growing Footprint

Produced in collaboration with Oxford Economics, this report is the fourth edition since its inception in 2017. It aims to measure the throughput of goods in Prologis warehouses and assess the direct employment, as well as the total economic influence arising from these activities throughout the supply chain. The data is a testament to Prologis's increasing footprint, reinforcing its contribution to the logistics industry.

Dan Letter, President of Prologis, stated, "Our logistics facilities are engines of economic activity. They support jobs, enable business growth, and help communities thrive — the ripple effects are real."

This observation highlights the wider significance of Prologis's services as more than just a commercial venture, rather a crucial player in the network of global logistics and economic health. Not only do these facilities maintain day-to-day operations, but they also foster community growth and long-term sustainability.

To delve deeper into the findings, you can view and download the complete report on Prologis’s official website. More than just a logistics company, Prologis has emerged as a defining force in shaping the future of global trade, balancing the needs of commerce with community impact and environmental sustainability.

In conclusion, Prologis continues to demonstrate that the world runs on logistics, and by offering cutting-edge solutions alongside economic contributions, they are setting the stage for the future of commerce on a global scale.