Although the Big Apple has been rocked by the recession and suffered from job losses in the financial markets, large construction projects in Long Island City, N.Y., and Jersey City, N.J., are propping up some of the construction numbers. The $198.5 million Monaco Residential Towers broke ground in Jersey City earlier this year and a 21-story, 660,000-square-foot building for the New York City Health Department is now being built in Long Island City. This building will be part of a much bigger project, Gotham Center, which reportedly would have up to 3.5 million square feet in office space. Also underway are research centers for City University of New York and Mount Sinai hospital, and the on-again, off-again construction of office buildings at the World Trade Center site. Also on hold because of the credit crisis is Brooklyn's Atlantic Yards development , which would have a new arena for the National Basketball Association's Nets. Helping fuel some of the region's construction are the low office vacancy rates for the central business districts of New York (8.6 percent) and Philadelphia (12.6 percent), which are healthy compared to the national average of 17.1 percent.
EMPLOYMENT STATISTICS
Actual Electricians
in thousands
M
G
C
Middle Atlantic
79,430
1,343.0
2,852.6
11,820.4
New Jersey
15,130
275.6
619.5
2,525.8
Atlantic City-Hammonton, NJ
1,170
2.7
21.8
110.7
Camden, NJ Metropolitan Division
2,070
43.2
84.6
311.0
Edison-New Brunswick, NJ Metropolitan Division
3,010
67.7
142.1
685.6
Newark-Union, NJ-PA Metropolitan Division
4,490
76.2
161.8
637.6
Ocean City, NJ
150
NA
9.5
30.9
Trenton-Ewing, NJ
810
8.9
63.3
148.7
Vineland-Millville-Bridgeton, NJ
320
8.7
14.2
29.3
Bergen-Hudson-Passaic, NJ
NA
65.0
119.5
559.9
-
New York
39,860
491.5
1,532.7
5,690.1
Albany-Schenectady-Troy, NY
2,010
21.4
103.4
273.4
Binghamton, NY
490
16.3
22.4
59.5
Buffalo-Niagara Falls, NY
2,070
53.3
91.0
333.0
Elmira, NY
130
5.8
7.3
22.6
Glens Falls, NY
150
6.5
10.4
35.1
Ithaca, NY
170
3.2
8.2
46.7
Kingston, NY
200
3.7
15.3
37.5
Nassau-Suffolk, NY Metropolitan Division
5,930
76.1
196.1
795.5
New York-Northern New Jersey-Long Island, NY-NJ-PA
39,000
398.1
1,329.0
5,725.9
New York-White Plains-Wayne, NY-NJ Metropolitan Division
By Jim Lucy, Chief Editor, and Kristin Letourneau, Ph. D., Associate Director of Market Research for Penton Media Use this guide to calculate market share and evaluate new markets...
