Annual Report 2005

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As a broad coalition focused on industry-wide issues such as infrastructure investment and economic development, the New York Building Congress and its affiliate, the New York Building Foundation, produce a series of research publications designed to provide timely and accurate information on industry trends and policy issues relevant to all sectors of the building community.

The subject and the audience for these reports may vary but in all cases the intent is to inform both the industry and opinion leaders on emerging issues and trends and to advocate recommendations that help the City grow and prosper.

The most current example of these valuable publications is the latest issue of the Building Congress Construction Outlook report, covering construction spending and employment levels forecasted from 2005 through 2007. The fifth in a series of reports whose forecasts have proven extremely accurate, the latest Outlook projects record-setting activity reaching $20 billionin 2006. Behind these impressive numbers, however, are funding questions that threaten to reduce the level of spending, particularly by public agencies whose capital programs include substantial investments.

Publications like Construction Outlook represent an important service for Building Congress members. No other organization produces an economic forecast so focused on the New York City construction market. Similarly, nowhere else can you get the benefit of targeted research into industry insurance rates, overall capital spending and electricity needs, as was covered in past Building Congress reports.

Coming later this year will be the next Electricity Outlook report subtitled "Powering New York City’s Economic Future." Notably, this report will, for the first time, examine New York City’s energy needs over the next twenty years and include what may be required to support all of the comprehensive economic development proposed for the City over that period of time.