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New York Post
10-07-2025
- Business
- New York Post
New York lost many construction jobs during the pandemic — and still hasn't recovered: report
New York State hasn't recovered all of the construction lobs it lost during the pandemic shutdown – partly because of less demand for office space, a new report released Thursday said. There is 16,300 fewer construction jobs in the Empire State, 4% lower than before the COVID-19 shutdown — the second lowest recovery among all states, according to the the study by state Comptroller Tom DiNapoli's office. 'Spending on residential construction has rebounded since the pandemic, but nonresidential construction spending, especially in New York City, remains below 2019 levels and could continue to lag in the near future,' DiNapoli said. Advertisement 3 New York has failed to recover all the construction jobs lost during the COVID-19 pandemic, in large part because of less demand for office space amid hybrid work policies, according to an industry report released Thursday. Christopher Sadowski The sector would have fully recovered if not for New York City, where hard hat employment last year was still down 11.3%, or 18,200 jobs compared 2019. Meanwhile, the number of construction firms declined by 3% in 2024, the first drop since 2011, the report said. Advertisement Nonresidential construction plummeted 43% during the COVID-19 outbreak in 2020, according to the New York Building Congress, a construction trade group. Demand still remains below 2019 pre-pandemic levels. 3 The study was conducted by Comptroller Tom DiNapoli's office, where the Big Apple has 16,300 fewer construction jobs available. State Deputy Comptroller Office NYC 3 The report also mentions that New York is one of the five states that have failed to recover from job losses in the construction sector resulting from the aftermath of the COVID-19 pandemic. REUTERS Advertisement 'Non residential construction has improved but continues to be impacted by remote work policies,' the comptroller's report said. New York is one of five states that have not recovered from pandemic job losses in the construction sector, report said. Aside from remote work softening the office construction market, DiNapoli's report said President Trump's immigration enforcement could impact the hard hat labor force and ongoing projects. Immigrants held 61% of the jobs in the construction sector in the city in 2023, a much higher share than in the rest of the state and the nation.
New York Times
26-06-2025
- Business
- New York Times
A New Rail Line May Come to New York. Will a Housing Boom Follow?
For decades, transit supporters in New York City have clamored for the Interborough Express, a passenger rail line that would wend through overlooked parts of Brooklyn and Queens, the city's most populous boroughs, without entering Manhattan. In April, the plan took a major step toward becoming a reality, when Gov. Kathy Hochul approved $2.75 billion for its funding, half of the project's estimated $5.5 billion price tag. The light-rail line, the city's first, is expected to make 19 stops, from Jackson Heights in Queens to Bay Ridge in Brooklyn, in less than 40 minutes — a fraction of the time it would take with subway and bus routes. It will run alongside a 19th-century freight train route that winds past houses, beside highways, near factories and even under a cemetery. Now, in a sign of its transformative potential, the project is gaining the attention of real estate developers, long before the first track gets laid. More than 70,000 new homes could be built within a half mile of stops along the train line over the next decade, if some land-use changes are approved by city officials, according to an analysis released Thursday by the New York Building Congress, a trade group for construction and real estate companies. Depending on how significantly land use is altered around the train line, the report estimates that over 100,000 units might be built over a decade. 'These are eye-popping numbers,' said Tom Wright, the president of the Regional Plan Association, an urban planning group that has been pushing for a version of the route, also called the IBX, since the 1990s. Want all of The Times? Subscribe.
Yahoo
29-04-2025
- Business
- Yahoo
MTA Capital Plan included in record $254B NY budget
NEW YORK (PIX11) — On Monday, Gov. Kathy Hochul announced that a general agreement was reached on the $254B Fiscal Year 2026 Budget. Transit in the New York City metropolitan area was a major focus of the budget, as Governor Hochul announced that the State of New York will fully fund the proposed $68 billion MTA Capital Plan. More Local News This plan includes the construction of the Interborough Express, which aims to connect underserved areas of Brooklyn and Queens. 'We are fully funding the MTA Capital Plan to advance critical projects, including the Interborough Express, new Metro-North stations in the Bronx, faster service in the Hudson Valley, and critical repairs to avoid another summer of hell,' said Hochul. Hochul added that the State will also take $1.2 billion previously allocated for Penn Station and use it to fund safety improvements and stop fare evasion. This announcement comes just hours after the MTA announced that fare gates will replace turnstiles at 20 subway stations across the city this year. The agency expects to install fare gates at 20 more stations in 2026 and 150 subway stations in total by 2029 as part of an ongoing effort to curb fare evasion. More: Latest News from Around the Tri-State The New York Building Congress has been pushing for a fully funded plan for improvements, calling it 'an investment in a future-proof, modernized, safer, faster, and more accessible transit system for the region.' Carlo A. Scissura, President & CEO of the New York Building Congress released a statement following Hochul's announcement that reads in part: 'We sent thousands of letters to our elected officials, who clearly heard what we needed to build our way forward, and we thank them for stepping up when New Yorkers needed them most.' The legislature still needs to vote on budget bills. Ben Mitchell is a digital content producer from Vermont who has covered both local and international news since 2021. He joined PIX11 in 2024. See more of his work here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
