October 13th - October 17th, 2008

Building Boom Expected to End

October 15 – The New York Building Congress is predicting that the City’s amazing building boom will peak this year and crash next year. The report says the number of construction jobs will plunge by almost 30,000 by 2010 which would bring construction employment to its lowest level since 1997. It also says construction spending on new housing, office towers, stadiums, subway tunnels and schools will fall. Richard T. Anderson, President of the Building Congress said if the economic downturn is short lived, that could preserve construction jobs. But, if the downtown is prolonged, private projects would come to a standstill while government slashes funding for many of its construction projects. The construction industry currently employs approximately 130,100 people. Projects that could be in jeopardy include the Willets Point Redevelopment Plan, the WTC, Hudson Yards and Atlantic Yards.

Crane Safety Experts Gather in NYC

October 17 – Crane safety experts from around the country met in NYC this week to focus on national standards in the wake of several deadly crane accidents. Attendees, including NYC Building Commissioner Robert LiMandri, discussed new federal crane regulations, including a national testing system for crane operators. Also being considered is a national system to track crane parts.