SIMON SUSTAINABILITY REPORT 2022
TOTAL VALUE OF REAL ESTATE Brick-and-mortar shopping enhances the quality of life and well-being of communities in numerous ways. Shopping centers support critical local interests such as education, public safety, and infrastructure, while also serving as essential gathering spaces for visitors to shop, dine, and enjoy in-person experiences with loved ones. As a global leader in retail real estate, we believe it is crucial to effectively communicate the positive impact we have on the communities we serve. In collaboration with Deloitte, we conducted “The Environmental and Socioeconomic Impact of Mall and Online Shopping Behaviors—2019 Whitepaper” study in 2018. The study identified relevant socioeconomic indicators that demonstrate our centers’ contributions to their communities.
The results of the study revealed that malls play a vital role in local economies, providing numerous job opportunities and generating substantial sales and property taxes. Physical retail generates five times more jobs than online shopping for the same value of sales, and each mall can generate anywhere between a few hundred-thousand to a hundred-million dollars’ worth of sales and property tax in a year, depending on the size of the mall and mall sales. In 2022, Simon spent approximately $653M on local suppliers and paid $675M in local property taxes. Simon’s tenants also collected $4.3B in state sales taxes at its properties, while employing over 339K people, providing income for many families across the United States. This is the true total value of real estate that contributes to the communities we serve.
339K People Employed by Our Tenants
$675M Property Taxes Paid
207M+ Residents Living Near Our Centers
$4.3B Total State Sales Taxes
$653M+ Spend With Local Suppliers
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COMMUNITIES
CUSTOMERS
CREATING SUSTAINABLE CENTERS
ENVIRONMENT
EMPLOYEES
APPENDIX
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