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The Big Apple is once again a national showcase for commercial construction with any number of gigantic projects underway and plenty more on the drawing boards. New York is a Top 5 market in multi-family construction through the first nine months of 2014, according to McGraw-Hill Construction, and CBRE Research says Manhattan has two micro-markets with some of the lowest downtown vacancy rates in the nation – Midtown South (5.5%) and Midtown (7.4%). Two of the biggest projects continue to be the World Trade Center’s $3.9 billion Transportation Hub, expected to be completed next year, and the Hudson Yards project on the city’s west side, which will sprawl over 28 acres and have 20 million square feet of retail and office space and apartments. Upstate in Buffalo, N.Y., the Buffalo News reported approximately $1.34 billion worth of projects are being planned or under construction at the Buffalo Niagara Medical Campus of the University at Buffalo. Also in the Buffalo area will be a new factory for Elon Musk’s SolarCity. The Buffalo News says SolarCity will invest $5 billion in the project.
ELECTRICAL WHOLESALING'S SALES FORECASTS
FOR THE MIDDLE ATLANTIC REGION
This region's 2015 growth forecast of 5.4% growth lags the national forecast of 6.2%.
EMPLOYMENT IN KEY CUSTOMER GROUPS IN THE MIDDLE ATLANTIC MARKET
You can use the employment data below to calculate sales potential for key customer groups by region, state and Metropolitan Statistical Area (MSA) by using this data and Electrical Wholesaling's 2015 Sales Multipliers. To get these multipliers and to learn how to use them, click here to get to Electrical Wholesaling 2015 Market Planning Guide. Just scroll down and look for "multipliers."
