Building Congress Event
Construction Industry Breakfast Forum
Deputy Mayor Steel: A Sprint to the Finish
The New York Building Congress released New York City Construction Outlook 2012-2014, its annual review and forecast, at an October 17 Construction Industry Breakfast Forum featuring New York City Deputy Mayor Robert K. Steel.
Building Congress President Richard T. Anderson opened the forum by providing the nearly 300 guests in attendance with a detailed presentation on the report. According to Mr. Anderson, annual construction spending is forecast to top $30 billion for the first time since 2008 and should remain stable in 2013 and 2014.
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During his remarks, Deputy Mayor Steel outlined the Bloomberg administration’s efforts to promote economic development and nurture growth industries throughout the five boroughs. He placed particular emphasis on the administration’s recent efforts to spur growth in the technology sector.
“New York City is in transition to an innovation and information economy that is driven by technology,” noted Deputy Mayor Steel. He went on to detail such ongoing initiatives as the $2 billion Cornell-Technion campus on Roosevelt Island, the creation of a Center for Urban Science and Progress in Downtown Brooklyn and the ongoing campus expansion plans by Columbia University and NYU.
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Deputy Mayor Steel credited Mayor Bloomberg for his vision and ability to sow the seeds of growth. For example, he said that the City’s $100 million contribution toward the 11-acre Roosevelt Island campus will leverage $2 billion in direct investment by Cornell and Technion.
He also noted that the Cornell, Columbia and NYU projects combined will create 22,000 jobs and generate $32 billion of total economic activity over the next three decades.
During his remarks, the Deputy Mayor detailed a wide range of additional infrastructure, transportation, housing, zoning and waterfront initiatives that are being pursued during the final 14 months of the Bloomberg administration.
“I can pledge to you on behalf of the Mayor, that we are going to sprint to the finish line,” Deputy Mayor Steel said.
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