December 11, 2015
Why do you think New York’s construction industry is doing so well at the moment?
In 2015, the design and construction business is strong but still fragile on the public sector side. The overall state of the economy and confidence by private developers is key to success. Low interest rates make borrowing so cheap that it encourages these investments. We are hopeful that the federal state and local governments will make the necessary infrastructure investments that will support and promote the private investments that will sustain this growth.
Where do you see New York’s construction industry in the next 5-10 years?
Given the past 10 years, even projecting 3 years out seems challenging. We remain optimistic that both public and private investment will continue and that this success will continue to provide the public sector the necessary resources to support this. The challenge is that we are outgrowing our infrastructure support system and without water/wastewater, energy and transportation capabilities, offices, schools and residences will be severely limited.
What are the main challenges you see over the next 5 – 10 years?
Onerous and over-reaching regulations and contracts will make it more challenging for professional design firms to work in New York, and that can have a ripple effect throughout the industry. Additionally, attracting and retaining talent continues to be a challenge, and in an environment of compressed fees, this will only get more difficult.
ACEC New York is a proactive coalition of 280 firms representing every discipline of engineering related to the built environment—civil, structural, mechanical, electrical, environmental, geotechnical—and affiliated companies. Our shared goals are to further the business interests of our membership, enhance the quality and safety of the environment we live and work in, and help ensure the vitality of our communities. For more information, visit www.acecny.org.