Carlo A. Scissura
Carlo A. Scissura
President and CEO at New York Building Congress
Last year's rank: 84
There are very few things that could be a greater shot of adrenaline to a battered, COVID-stricken economy than a big infrastructure project — and for the past four months Carlo Scissura, the president and CEO of the New York Building Congress, has been preaching this evangel.
“This is an opportunity to do Gateway,” Scissura said, referring to the massive railway plan between New York and New Jersey that has been in the planning stages for years. “That’s one project that could put tens of thousands of people to work. I think we’ve got to push hard on that.” (In fact, Scissura had an op-ed in the Daily News earlier this month advocating investment in the project with Steven Rubenstein, the chairman of the Association for a Better New York.)
Prior to the pandemic, construction had been riding high. According to a report from the Building Congress, in the fall of 2019 New York was expected to spend $189 billion on construction through 2021.
Since coronavirus struck, nearly every part of real estate has been affected, but according to Scissura, construction is having a softer landing than other parts of the industry.
“For us, a couple of positives happened,” Scissura said. “ESD [Empire State Development] in its first round exempted a bunch of [essential] construction” from closing down during stay-at-home orders. Moreover, construction for nonessential projects opened in Phase 1. “That was a very good thing. The question mark comes with design and planning. Are we doing enough to ensure that in a year there will be projects?”
And while just a few weeks ago it appeared that the Senate and White House were going to begin tightening any stimulus purse strings, the fact that the disease is bearing down on multiple red states has apparently convinced GOP senators that another round of stimulus with money for local and state projects might be necessary.
“I feel like we’re seeing things come back to life,” Scissura said. “Things are moving, projects are happening. The question becomes: what next?”—M.G.
