New York Construction Industry Facing Hurdles to Post-Pandemic Recovery After a tough year, the U.S.economy is continuing to show signs of recovery.Coronavirus cases are falling, vaccination numbers are still rising, unemployment claims are down, business investment is up, and confidence among corporate leaders is high.

Economists surveyed by the Federal Reserve Bank of Philadelphia predicted U.S.output will increase 4.5 percent this year, which would make it the best year since 1999.But many industries still face big challenges when it comes to making those recovery predictions come true.

Here in New York, the construction industry is facing two major issues that are threatening to place burdensome regulations on business owners and significantly drive up costs on major projects.That could put a serious damper on recovery in the state.Let’s take a look at these two issues… Both of these issues will cost employers and likely put a damper on economic recovery in the state.

For New York construction employers, the message is clear … Now more than ever, your safety and risk management initiatives are paramount.At BNC Agency, we’ve been insuring the New York construction industry for more than 150 years.That means we’re experienced partners you can count on to help you navigate this evolving industry.

Call us today.