From NAIOP President and CEO Tom Bisaquino:
I’m pleased to report that the members of Congress gave their overwhelming support this week to renew the Terrorism Risk Insurance Act (TRIA) for six years. The bill now to goes to President Obama for his signature, and we expect that he’ll sign it imminently.
This is a major victory for the commercial real estate industry and the millions of jobs and economic growth we support. NAIOP members played a significant role in advocating for TRIA’s passage by communicating its importance to their businesses.
TRIA ensures the commercial real estate development industry can continue to provide good jobs and economic growth for America, and we are indeed a valuable contributor. Last year, we contributed $376 billion to GDP, supported 2.8 million jobs and produced $120 billion in personal earnings.
Our collective voices have made a difference in this legislation. My thanks to you for your continued support of NAIOP and our industry.