1. Richard T. Anderson President, New York Building Congress

2. Overall spending estimated to reach $32.9B. — Represents 17% increase over 2013 spending. — Tops 2007 peak in current spending, before adjusting for inflation. Residential projected to reach $10.9B, up from $6.8B in 2013. Non-residential likely to level off at $7.8B, down from $8.0B in 2013. Government expected to increase marginally to $14.3B from $13.4B in 2013. 2014 Construction Spending RETURNING TO BOOM ERA

3. 2016 Construction Spending TO TOP $35B

4. Largest source of construction activity in NYC over the past 20 years. Downward investment trend since 2008 peak. Slight upturn to $14.3B expected in 2014. Spending expected to drop back to $13.3B in 2015 and $13.6B in 2016. GOVERNMENT CONSTRUCTION

5. PUBLIC INFRASTRUCTURE

6. City construction spending expected to rise to $7.5B in 2014, after dropping to $7.2B in 2013. Environmental and Justice outlays declined while other major sectors rose. NYC GOVERNMENT CONSTRUCTION EXPENDITURES IN 2013 AND 2O14 Priorities shifting to City Operations, Education, and Transportation. City’s increasing debt may limit future resources for capital investment in all areas.

7. The City's construction market has rebounded nicely since the 2008 recession thanks to an improving economy, increased foreign investment, and continued progress on major public and private sector initiatives. The completion of professional sports and entertainment venues contributed to the 2014 decrease in non-residential construction, but it is not expected to negatively impact the strong forecast for 2015 and 2016. Recent declines in government spending have been offset by renewed strength in private sector construction. The overall health of the City’s construction industry remains dependent upon government work. Infrastructure spending on system expansions, new repairs, and upgrades is essential for economic development. INSIDE THE NUMBERS

8. Increase development of new housing at multiple price points, focusing attention on strategic rezonings, stalled construction sites, and streamlining regulatory requirements and processes. Identify new sources of dedicated revenue to help fund the MTA’s next five-year capital plan, including removing exemptions to the regional Payroll Mobility Tax. Promote innovation and adopt best practices throughout the industry and in government to build smarter, faster, more safely, and more economically. Prepare for future economic growth through rezonings, balanced landmarking, incentives, and streetscape investments that encourage further development in areas throughout the five boroughs. Ensure that Superstorm Sandy federal relief funding is put to quick and productive use in rebuilding storm-damaged neighborhoods and fortifying vital infrastructure. RECOMMENDATIONS