New York - Building Boom In Hudson Valley And Catskills Points To Big Boost For Employment And Economy
New York - A building boom in the Hudson Valley and the Catskills—-which has capital investors pouring billions of dollars into projects that are either underway or set to begin—-has construction labor leaders reporting full employment while economic insiders say the projects will result in a big boost for local economies.
RECORDONLINE.com (http://bit.ly/1KjS3Oa) reports that some of the bigger projects include a $79M makeover of the Government Center in Goshen; the $1 billion Montreign Resort and Casino at Adelaar near Monticello; and the new $4 billion Tappan Zee Bridge.
Business manager for Laborers Local 17 in the town of Newburgh, Todd Diorio, said employment numbers are the highest the area has seen since 2008.
“Right now we’re at 100%,” Diorio said. “In the past 8 weeks we’ve taken in 70 new members.”
According to economic insiders, the boom will also have a “multiplier effect” on the local economy.
A. Reif Kanan, director of The Business Institute at SUNY New Paltz, said, “You put $1 into the economy and it can have the impact of $3 to $5…There’s more spending on elective purchases.”
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