Annual Report 2009
Research and Publications
The New York City economy is in a period of nearly unprecedented uncertainty and upheaval. While construction activity remained at record levels for most of 2008, inevitable declines set in throughout the industry by year's end, with many signs pointing toward more to come. While some experts believe the economy has further to fall in 2009, many are hopeful that the federal economic stimulus package will help cushion and potentially jumpstart the economy.
In this climate, New York Building Congress research and the related publications program have never been more important or relevant to the industry and policy makers. Everyone is looking for clues as to the state of the design, construction, and real estate industry, and what it means for the overall economy.
Reflecting this need for up-todate information, the Building Congress and its philanthropic arm, the New York Building Foundation, has created a research and publication agenda for 2009 that is the most ambitious and resource-intensive in its history.
Construction Outlook Update
The Building Congress and Building Foundation launched an important new initiative, NYBC Construction Outlook Update, in 2009 that builds on the organization's signature New York City Construction Outlook reports. This initiative's objective is to access real-time data on a range of leading building industry indicators in order to provide a monthly snapshot of conditions and trends affecting all sectors of the industry. The publication, which blends raw data with timely commentary, is published and sent electronically to Building Congress members as well as business and government leaders, and featured prominently on www.buildingcongress.com.
(e)Update
In keeping with the need for members, policymakers, and the news media to remain current on late-breaking developments and industry priorities, the Building Congress expects to increase the number of policy-focused (e)Update electronic news bulletins it issues in the coming months. Thanks to its timeliness, reach, and ability to mobilize the industry behind crucial issues, (e)Update has become an integral part of the overall Building Congress advocacy agenda. Over the course of 2008, (e)Updates focused on such issues as the federal stimulus package, the Ravitch Commission MTA financing report, the Trans-Hudson Express Tunnel, and important City votes on vital development projects such as the rezoning of 125th Street and multimillion dollar expansion projects at Columbia University and St. Vincent's Hospital.
New York City Construction Outlook 2009-2011
The annual forecast and analysis, which focuses on three years of construction spending and employment, has become a signature publication of the Building Congress. Circulated among business, labor, and policy circles, the forecast serves as a barometer for the City's economy and is widely quoted by elected officials, civic leaders, and journalists. This year's installment, to be released in the fall, is certain to generate widespread interest as it may provide clues to how the economy is responding to efforts by President Obama and Congress, as well as the Federal Reserve and the Treasury Department.
