May 23, 2017 Comments Off on Construction Spending Highest in Decades in New York City Views: 201 New York News, Top New York Stories

Construction Spending Highest in Decades in New York City

Construction spending across the five boroughs set an all-time record in 2016, and also reached its highest annual level in decades, even after adjusting for inflation, according to a New York Building Congress analysis of multiple data sources.

Developers and owners spent a total of $42.4 billion on construction projects in New York City in 2016, up from $41.2 billion in direct construction spending in 2015, and $32.4 billion in 2014. After adjusting for inflation, 2016 spending topped this century’s previous high-water mark, set in 2007, by about one percent.

“The construction industry continued to fire on all cylinders in 2016, which has extremely positive short- and long-term implications for New York City and the region,” said New York Building Congress President and CEO Carlo A. Scissura.

Read More at the Building Congress

Connect with the Building Congress’ Scissura

For comments, questions or concerns, please contact Bendix Anderson


Subscribe to Connect Daily New York

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , ,

Comments are closed.