NYC Signs Historic $1B Labor Agreements for Major Infrastructure Projects

Author

Slice of Construction Team
December 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

Notable Quotes:

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"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
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"Through our collaboration with the Building & Construction Trades Council on these Project Labor Agreements, we are not only investing in world-class infrastructure but also creating thousands of good-paying union jobs that will benefit New Yorkers for generations."

Maria Torres-Springer, First Deputy Mayor at NYC
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"Transformational development and green infrastructure upgrades will reinvigorate our communities and bring much-needed stability and economic stimulus to all New Yorkers."

Maria Torres-Springer, First Deputy 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.