WWW.QNS.COM RIDGEWOOD TIMES JUNE 17, 2021 13
Anti-development will jeopardize NYC’s economic recovery
BY THOMAS J. GRECH AND LOUIS J. COLETTI
It has been a diffi cult 14 months for our city and
our local economy. This time last year, we were
looking at unemployment numbers most of us
haven’t seen in our lifetimes. Sadly, due to the pandemic,
we’ve lost a number of cherished small businesses
that served our neighborhoods and created
jobs for New Yorkers. As more and more of us get
vaccinated and COVID restrictions are lift ed, we’re
fi nally returning to normal.
But even before the pandemic, our economy was
at a crossroads. We were moving toward more highpaying
jobs in tech, and more lower paying jobs in
the service sector, all while robust pathways to the
middle class were slowly disappearing.
Historically, the one industry that has provided
stable, middle-class jobs for New Yorkers has been
the construction trades. Construction and real estate
account for 20 percent of New York City’s GDP, 10 percent
of jobs and 5 percent of wages. Construction also
OP-ED
has a catalyzing eff ect on other industries. For every
$1 million spent on construction, eight new jobs are
created.
The industry is also a driver of small businesses, as
well as minority- and women-owned businesses. One
hundred and seventy-seven WMBE contractors are
members of the Building Trades Employers Association,
and minorities and women make up 55 percent
of the Building Trade Union workforce.
Unfortunately, aft er a decade of growth, COVID hit
the construction industry hard, wiping out years of
progress in the blink of an eye. Over the course of the
pandemic, $9.8 billion in construction activity, 74,000
jobs and $5.5 billion in wages were lost.
Now, the recovery of the industry is threatened
by the baffl ing rise of anti-development sentiment
amongst politicians and candidates for offi ce. This
jeopardizes the economic recovery of our entire city,
and closes off job opportunities for families struggling
to make ends meet.
Turning away billions of dollars in private investment
into our communities that would create jobs and
generate tax revenue for our city would be foolish.
We also cannot aff ord to wait for federal action. Even
if President Biden’s infrastructure plan passed today,
we’d still be at least two years away from shovels being
in the ground on those projects.
New Yorkers need to put food on the table and pay
their bills today. There are a number of ways the city
can support construction, from expediting standard
permitting at the Department of Buildings, to establishing
a single point of contact in the mayor’s offi ce
to streamline large projects. But we also need elected
offi cials at all levels of government that understand
the vital role private sector development will play in
our economic recovery.
We have a unique opportunity to remake both the
physical and social infrastructure of our city. But we
cannot do that without supporting the construction
industry, which provides a clear and stable pathway
to the middle class for millions of New Yorkers.
Thomas Grech is the president and CEO of the
Queens Chamber of Commerce. Louis J. Coletti is the
president and CEO of the Building Trades Employers
Association.
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