Construction Will Keep Booming

For New York City to continue to thrive as one of the most dynamic urban centers in the world, it needs a healthy, vibrant construction industry to help it continue to grow. This past year was filled with many milestones and achievements—it is a great time to be involved in the industry as there are both many exciting ideas and innovative projects underway. As we enter 2018, there are several trends that New Yorkers interested in the future of the industry should monitor.

Safety as a Key Focus

Construction safety is always the highest priority for Gilbane and for our peers, and we are confident that this will continue into 2018. Recent months have featured significant debate on the way to make our sites as safe as they possibly can be, and 2018 figures to be a year of action on that front.
Training is critical for safety, and unfortunately many small firms don’t have the resources to provide the necessary training, but there is a solution: a partnership between the city government, private companies like Gilbane and institutions of higher ed.
Many companies have vigorous and nationally recognized programs and would be willing to work with the city to create a training program that helps makes workers, no matter who they work for, as safe as possible.
Construction Will Keep Booming
The past two years have seen record amount of spending on construction projects in New York City, and 2018 looks to build on those records: The annual report by the New York Building Congress estimates that 2018 spending will reach $52.5 billion. If the industry meets that expectation, it will mark the third consecutive record-setting year for spending—a sign of both great change and exciting projects in the works.
That spending will be accompanied by over 150,000 jobs next year, which is just another year of gains in that category.