NYC Signs Historic $1B Labor Agreements for Major Infrastructure Projects
Slice of Construction Team
Dec 03, 2024
Key Highlights:
- Historic $1 billion agreements with Building & Construction Trades Council of Greater New York (BCTC).
- Generational projects include $270M Willets Point transformation and $800M infrastructure improvements.
- Largest-ever investment in M/WBEs and first-time incorporation of Community Hiring goals.
- Implementation of design-build delivery, expediting timelines and saving taxpayer dollars.
- $50 billion framework for future citywide capital projects.
Source: Direct
Quotes
“ "These agreements, covering more than a billion dollars in work, are a win-win-win: good union jobs for New Yorkers; faster, better, and more efficient capital projects; and billions of dollars of investment in communities that went ignored for decades." ”
Mayor Eric Adams, Mayor at NYC
Our Take:
This announcement marks a pivotal moment for New York City’s infrastructure and labor landscape. By integrating Community Hiring and prioritizing investments in minority- and women-owned businesses, the city is setting a precedent for equitable growth. The focus on the design-build delivery method is a smart move, shaving years off project timelines while maintaining quality and reducing costs. These agreements don’t just create jobs; they build pathways to long-term economic mobility, fostering a more inclusive and resilient city. The framework for an additional $50 billion in projects ensures this impact will resonate for decades.
