NEW YORK CITY—“New York City's construction industry continues to fire on all cylinders,” says New York Building Congress president and CEO, Carlo A. Scissura. “After an epic 2016, which saw New York City shatter recent highs for construction spending and employment, the three-year outlook remains white hot.”
At a NYBC breakfast and panel, Scissura presented the coalition's New York City Construction Outlook 2017-2019 report.
The analysis forecasts $45.3 billion will be spent in New York City construction in 2017, and nearly $150 billion through the three-year span of the assessment. Although the 2017 projection is down 13% from last year, when $52.2 billion was spent in construction, the amount still represents the second highest total spent in New York City's history, after 2016, when adjusted for inflation, according to the NYBC.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
