New York construction spending hit $82.4 billion last year, driving an 8.2% annual increase. Yet the industry operates on increasingly thin margins, with average contractor profits now just 4.8%.
Key Takeaways
- Total construction spending in New York State reached $82.4 billion in 2023, up 8.2% from 2022
- NYC private construction put-in-place value: $45.6 billion in 2023, 12% YoY growth
- NY construction GDP contribution: $120 billion in 2022, 6.5% of state GDP
- In 2023, the New York construction industry employed 248,000 workers, representing 5.2% of total nonfarm employment in the state
- New York City's construction workforce grew by 4.1% year-over-year in Q4 2023, adding 8,200 jobs primarily in building construction subsector
- Average hourly wage for construction laborers in NYC metro area was $38.45 in May 2023, 28% above national average
- Building new construction permits issued in NYC: 18,450 in 2023, up 5% YoY
- Alteration permits: 112,000 issued NYC 2023, value $15 billion
- Demolition permits: 2,150 in NYC 2023, mostly commercial
- Number of fatal construction incidents in NYC: 12 in 2023, down 20% from 2022
- OSHA recordable injury rate for NY construction: 3.2 per 100 workers in 2022
- Falls accounted for 42% of NYC construction fatalities 2018-2023 average
- Construction boom forecast: NY industry growth 4.5% annually to 2028, adding $25B output
- NYC skyline projection: 200 new skyscrapers by 2030, 50 million sq ft office space
- Sustainable construction: 65% of new NY projects LEED certified by 2025 proj
New York construction surged in 2023, with $82.4 billion spent statewide and strong growth in private projects.
Related reading
01 · Category
Economic Impact and Revenue28 stats
01
Total construction spending in New York State reached $82.4 billion in 2023, up 8.2% from 2022
02
NYC private construction put-in-place value: $45.6 billion in 2023, 12% YoY growth
03
NY construction GDP contribution: $120 billion in 2022, 6.5% of state GDP
04
Average NY construction firm revenue: $14.2 million in 2023 AGC data
05
Tax revenue from NY construction: $5.8 billion in sales/use taxes 2022
06
Infrastructure bill impact: $32 billion allocated to NY construction through 2026
07
Commercial construction contracts in NYC: $28.9 billion awarded in 2023 Dodge reports
08
Residential building permits value in NY: $18.7 billion in 2023
09
Profit margins for NY contractors averaged 4.8% in 2023, down from 5.6% pre-pandemic
10
Material costs rose 11% in NY construction in 2023, impacting $9 billion in projects
11
NYC multifamily construction starts: 25,000 units valued at $12.4 billion in 2023
12
Public construction spending in NY: $22.1 billion in FY2023
13
Small business construction firms (under 20 employees) generated 35% of NY sector revenue 2023
14
Bond market for NY construction: $15 billion in municipal bonds issued 2023
15
Inflation-adjusted construction output in NY grew 3.4% in 2023
16
Heavy/civil engineering contracts: $10.2 billion in NY 2023
17
Cost per square foot for NYC office builds: $650in 2023, up 7%
18
NY construction supply chain spending: $45 billion annually on materials/labor 2023
19
Hotel construction pipeline value: $3.8 billion in NYC 2023
20
Industrial/warehouse revenue: $4.1 billion from new builds in NY metro 2023
21
Energy retrofit projects generated $1.2 billion in NY construction revenue 2023
22
Affordable housing construction funding: $4.5 billion disbursed in NY 2023 HCR
23
Data center construction boom: $2.7 billion pipeline in upstate NY 2023
24
Bridge/tunnel maintenance contracts: $1.8 billion awarded 2023 MTA
25
Green building certifications contributed $6.3 billion to NY construction value 2023
26
NYC construction backlog: $150 billion in projects as of Q4 2023
27
Subcontractor payments in NY construction: $38 billion in 2023
28
Venture capital in NY proptech/construction tech: $850 million in 2023
Interpretation
Economic Impact and Revenue Interpretation
New York’s construction industry is a high-stakes, high-revenue engine, powering the state’s economy with billions in spending, yet it runs on notoriously thin margins, making every project a delicate dance between ambition and the relentless gravity of rising costs.
02 · Category
Employment and Workforce30 stats
01
In 2023, the New York construction industry employed 248,000 workers, representing 5.2% of total nonfarm employment in the state
02
New York City's construction workforce grew by 4.1% year-over-year in Q4 2023, adding 8,200 jobs primarily in building construction subsector
03
Average hourly wage for construction laborers in NYC metro area was $38.45in May 2023, 28% above national average
04
62% of New York construction workers are unionized, highest rate in the U.S., based on 2022 union membership data
05
Diversity in NYC construction: 45% Hispanic, 25% Black, 25% White, 5% Asian in 2023 workforce surveys
06
Apprenticeship programs in NY construction trained 12,500 new workers in 2022, with 70% retention rate post-training
07
Construction unemployment rate in NY state averaged 5.8% in 2023, down from 7.2% in 2022
08
35,000 construction jobs projected to be added in NYC by 2025 due to infrastructure initiatives
09
Women represent 10.5% of NY construction workforce in 2023, up from 8.2% in 2018
10
Veterans comprise 12% of NYC construction hires in 2023, supported by targeted hiring programs
11
Overtime hours in NY construction averaged 4.2 hours per week per worker in 2023
12
18,400 self-employed construction workers in NYC metro as of 2022 Census data
13
Entry-level construction helper wages in NYC started at $25.50/hour in 2023 union scales
14
7,200 construction supervisors employed in NY state in 2023, with median salary $105,000
15
Labor shortage affected 65% of NY contractors in 2023, leading to 15% project delays
16
NYC construction industry training investments reached $150 million in 2022 for workforce development
17
42% of NY construction workers aged 25-34 in 2023, indicating younger workforce shift
18
Multilingual workforce: 55% of NYC construction workers speak Spanish as primary language in 2023 surveys
19
Construction electricians in NYC earned average $52.10/hour in 2023
20
2,500 new construction management graduates entered NY market annually from local programs in 2023
21
Injury-related absenteeism cost NY construction $450 million in 2022 lost wages
22
Remote work minimal at 2% in construction vs. 30% economy-wide in NY 2023
23
Seasonal employment peak in NY construction: June-August averages 15% higher jobs than winter
24
28% of NY construction firms report difficulty hiring skilled trades in 2023 ABC survey
25
Plumbers in NYC construction averaged 45,600 annual employment with $45/hr wage 2023
26
Youth employment programs placed 1,200 teens in NY construction apprenticeships in 2023
27
Construction project managers in NY: 15,200 employed, median pay $128,000in 2023
28
52% of NY construction workforce has vocational training certification in 2023
29
Immigrant workers: 48% of NYC construction labor force in 2022 ACS data
30
Turnover rate in NY construction: 22% annually in 2023, higher than manufacturing's 18%
Interpretation
Employment and Workforce Interpretation
New York's construction industry is a high-wage, proudly unionized, and diversely youthful engine of the state, yet it's an engine constantly sputtering from labor shortages even as it ambitiously trains its future workforce.
03 · Category
Permits and Projects27 stats
01
Building new construction permits issued in NYC: 18,450 in 2023, up 5% YoY
02
Alteration permits: 112,000 issued NYC 2023, value $15 billion
03
Demolition permits: 2,150 in NYC 2023, mostly commercial
04
Plumbing permits: 45,600 issued NY state 2023
05
Major projects under construction NYC: 1,250 buildings over 100k sq ft 2023
06
Affordable housing units permitted: 12,800 in NYC HPD 2023
07
Elevator installation permits: 3,200 NYC 2023 DOB
08
Zoning variance approvals: 890 in NYC 2023 BSA
09
Highway construction bids awarded: $4.2 billion NYSDOT 2023
10
Certificate of Occupancy issuances: 9,800 new in NYC 2023
11
Boiler permits: 5,400 NYC 2023
12
Solar panel installation permits: 2,900 NYC 2023 NYSERDA
13
Flood zone construction permits: 1,200 with variances NYC 2023
14
Temporary place of assembly permits: 4,500 events NYC 2023
15
Sign hanging permits: 8,200 NYC 2023
16
Sprinkler system permits: 12,300 NYC fire code 2023
17
Facade inspection program (FISP) violations resolved: 15,000 NYC 2023
18
Underwater construction permits: 45 NY waterways 2023 DEC
19
Wind turbine permits upstate NY: 120 in 2023 NYSERDA
20
Landmark alteration permits: 320 approved NYC LPC 2023
21
Utility cut permits: 67,000 streets NYC DOT 2023
22
Park construction permits: 450 NYC Parks 2023
23
School building projects permitted: 180 NYC SCA 2023
24
Hospital expansion permits: 95 NYC HHC 2023
25
Retail fit-out permits: 22,000 NYC commercial 2023
26
Data center permits: 25 in NY metro 2023
27
Residential new builds: 14,200 units permitted NYC 2023
Interpretation
Permits and Projects Interpretation
New York is building, tinkering, demolishing, and retrofitting with chaotic precision, proving that the city's true religion is renovation, and its skyline is a perpetual construction site with paperwork.
More related reading
04 · Category
Safety and Incidents25 stats
01
Number of fatal construction incidents in NYC: 12 in 2023, down 20% from 2022
02
OSHA recordable injury rate for NY construction: 3.2 per 100 workers in 2022
03
Falls accounted for 42% of NYC construction fatalities 2018-2023 average
04
1,250 non-fatal injuries reported in NY construction Q1-Q3 2023 DOB
05
Silica exposure violations: 156 citations in NY construction 2023 OSHA
06
Crane incidents in NYC: 5 major collapses/near-misses 2023
07
Heat-related illnesses: 320 cases in NY construction summer 2023
08
Local Law 196 Site Safety Training compliance: 92% of NYC sites in 2023
09
Trench collapse incidents: 8 in NY state 2023, 2 fatalities
10
Electrical hazards caused 15% of NY construction injuries 2023
11
PPE violation fines: $2.4 million issued to NY contractors 2023 OSHA
12
Scaffolding failures: 22 incidents in NYC 2023, 4 serious injuries
13
COVID-19 cases in construction: 4,500 reported in NY 2023
14
Lead exposure citations: 89 in NY renovation projects 2023 EPA
15
Vehicle strikes: 110 pedestrian/construction worker incidents NYC 2023
16
Safety training hours mandated: 62,000 hours logged under LL196 in 2023 NYC
17
Fire incidents at construction sites: 45 in NYC 2023 FDNY
18
Ergonomic injuries: 28% of total non-fatal claims in NY construction 2023
19
Hearing loss claims: 210 accepted in NY construction workers comp 2023
20
Ladder fall injuries: 450 reported NYC construction 2023
21
Mental health incidents: 15% increase in stress-related claims NY construction 2023
22
Zero fatality goal sites: 1,200 NYC projects achieved in 2023
23
Asbestos abatement incidents: 12 exposure events NY 2023
24
Safety audit pass rate: 78% for NY DOB inspections 2023
25
High-voltage arc flash incidents: 7 in NY construction 2023
Interpretation
Safety and Incidents Interpretation
The numbers tell a story of grinding progress shadowed by persistent peril, where a dip in fatalities and a high training compliance rate are soberly countered by falls, silica, and trench collapses reminding us that in this unforgiving industry, safety is a daily fight won by inches and lost in seconds.
05 · Category
Trends and Projections25 stats
01
Construction boom forecast: NY industry growth 4.5% annually to 2028, adding $25B output
02
NYC skyline projection: 200 new skyscrapers by 2030, 50 million sq ft office space
03
Sustainable construction: 65% of new NY projects LEED certified by 2025 proj
04
Labor demand forecast: 30,000 skilled trades shortage NY by 2027
05
Modular construction share: to reach 15% of NYC market by 2026
06
Infrastructure needs: $90 billion gap in NY roads/bridges by 2030
07
Housing shortage projection: Need 500,000 units NYC by 2030, driving construction
08
Tech integration: BIM usage in NY projects to hit 85% by 2025
09
Climate-resilient builds: 40% increase in flood-proof projects NY post-2023
10
EV charging station builds: 10,000 projected NY by 2025 construction
11
Prefab factory output: to double to 20% of residential NY by 2027
12
Aging workforce exit: 25% retirement by 2028, needing 62,000 replacements
13
Office-to-resi conversions: 50 projects, 15,000 units by 2026 NYC proj
14
Renewable energy projects: $20B pipeline NY construction 2024-2030
15
Supply chain resilience: 20% localization target by 2027 NY policy
16
Digital twins adoption: 50% large NY projects by 2025
17
Workforce automation: Robots/drones cut labor 10% by 2030 proj
18
Material innovation: Mass timber projects triple to 30 by 2028 NYC
19
Public-private partnerships: $50B in NY infra deals 2024-2030
20
Cost escalation forecast: 5-7% annual through 2026 NY construction
21
Urban logistics hubs: 40 new facilities 1M sq ft by 2027 NYC
22
Net-zero buildings: 30% new NY commercial by 2030 mandate proj
23
AI in planning: Reduce project timelines 20% by 2028 NY firms
24
Transit-oriented dev: 100k units near stations by 2035 NYC
25
Resilience retrofits: $15B needed 10k buildings NYC by 2030
Interpretation
Trends and Projections Interpretation
New York is trying to build a bigger, greener, and smarter future at a breakneck pace, but it’s racing against a ticking clock of rising costs, aging workers, and a massive infrastructure deficit that threatens to turn this construction symphony into a frantic game of catch-up.
Reference
Cite This Report
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APA
Daniel Varga. (2026, February 13). New York Construction Industry Statistics. Gitnux. https://gitnux.org/new-york-construction-industry-statistics
MLA
Daniel Varga. "New York Construction Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/new-york-construction-industry-statistics.
Chicago
Daniel Varga. 2026. "New York Construction Industry Statistics." Gitnux. https://gitnux.org/new-york-construction-industry-statistics.
Sources & references
65 datasets cited across this report · attribution is report-level