New York Daily News
Carlo Scissura
03.30.20
As we wrestle to contain the novel coronavirus, we face a threat beyond when this pandemic is under control: a city and state that face an extended period of significant economic damage, shuttered businesses and unprecedented unemployment and job losses. That is precisely why it is essential that we take serious action in the immediate future to help stimulate our economy.
Planning for the day after must start now.
Our economy won’t just bounce back unless it is set up to recover.
The job begins with Congress. Now is the time to produce extensive national and regional public works plans the likes of which we have not seen since after World War II.
History shows us that investment now rather than later will jumpstart recovery. Large federal investments in infrastructure during times of emergency have a track record of transforming our city for the better.
Post-World War II, we saw the Triborough Bridge and Lincoln Tunnel brought to life as part of a broader recovery effort that created thousands of jobs. In the weeks and months following 9/11, we had one of the most vigorous coordinated recovery efforts, and thanks to that commitment from all levels of government, we were able to build back even stronger than before.
In New York City alone, construction accounted for $61.5 billion in 2019. While the Building Congress forecasted that 2020 would see a record-breaking $65.9 billion in construction spending, much of that has slowed due to COVID-19. As one of the largest industries in the city and state, we must double down on projects that help our neighbors get back to work and support our communities, including affordable housing, health-care and life science facilities and schools, as well as key public works.
Once-in-a-lifetime projects like the Gateway Program, an overhauled Penn Station, a fully reimagined Brooklyn-Queens Expressway and the completion of the Second Avenue Subway are now more critical than ever. These projects will create hundreds of thousands of jobs, counter the millions lost in wages, add billions in economic growth across our region and spur a domino effect in supporting small businesses — including minority and women-owned businesses — in their time of need.
A stimulus should also empower entities like the Metropolitan Transportation Authority and the Port Authority of New York and New Jersey to broaden and strengthen existing tools to successfully deliver infrastructure improvements, and also draw in unprecedented opportunities for private investment to the state.
But the fight will not be easy, and it will take more than federal money to solve our problems.
Gov. Cuomo’s stellar leadership during the COVID-19 pandemic has placed us on the road to recovery, and he is also looking ahead with “NY Forward,” which is advancing a strategy to reinvigorate our economy when this crisis ends.
The governor’s administration must look to these large-scale projects that touch on the entire supply chain and can reinvigorate the economy at all levels.
This is a unique challenge facing our city and state, but New Yorkers are as resilient as anyone, and we will overcome this virus and come out of it stronger than ever. While our economy might be on pause for now, it won’t be forever. Let’s start planning now for a future where we move forward quickly to get people back to work and make up for lost time.
Scissura is president and CEO of the New York Building Congress.
https://www.nydailynews.com/opinion/ny-oped-nyc-plan-gears-turning-20200330-g2wlrs5ctzfilbkxukesvkhhfe-story.html
