Sustaining Momentum While Rethinking the Model: The BNP Development & Construction Industry Leaders Forum
How can Buffalo Niagara developers and builders compete for tenants, talent, and transformative projects while markets and regulations constantly change?
A group of 30+ companies came together on February 9 at the BNP Development & Construction Industry Leaders Forum (ILF) for a timely conversation focused on this question, joined by ILF Strategic Partners, the Construction Exchange and NAIOP.
Key Development & Construction ILF Topics
The Realities of New York’s Climate Policies
In December 2022, the New York State Climate Action Council finalized its Scoping Plan – a massive document containing a series of climate-related policy recommendations that will impact every aspect of our economy. The Development & Construction ILF discussed the significant impact of the state’s proposed All-Electric Building timeline and the “cap and invest” system of annual limits on statewide carbon emissions. The BNP created a voter voice campaign to urge state leaders to proceed with caution and prioritize keeping energy affordable and reliable. The entire regional business community is welcome to add their voices to our campaign HERE.
Supply Chain Shortages and Cost Increases in Construction
By 2024, construction material prices may increase to approximately 25% to 28% higher than they were in 2020. Joe Benedict, Executive Director of the Construction Exchange, discussed the challenges of today’s builders at the Development & Construction ILF, which include significant delays in supply delivery in addition to price increases. The conversation allowed developers to better understand the perspective of the contractors who are bidding on projects and working to complete construction on schedule.
Competing for Talent
Regional employers in the development and construction sectors are struggling to find the talents needed to maintain properties and start new projects. Despite offering competitive wages, employers are seeing job postings languish on the market as more of their workforce plans to retire in the next five years. BNP staff provided Development & Construction ILF members with Employ Buffalo Niagara tools designed to build talent pipelines for employers and career pathways for job seekers, with a specific focus on the Benefits Cliff Calculator.
Employ Buffalo Niagara offers multiple workforce development programs. In different ways, these programs all work to create sustainable solutions for barriers to employment, upskilling low-wage earners and preparing job seekers to meet companies’ evolving expectations. Learn more:
Learn more about the new BNP Industry Leaders Forum here.
Harris Beach is proud to represent employers throughout the region and state with their present-day workforce challenges. Over the past year, several new regulations and laws have emerged, and Harris Beach has used its extensive experience to help employers navigate new landscapes.
Over 100 attendees came together at the January 25th Development & Construction Industry Leaders Forum, kicking off the 2024 ILF schedule, to discuss the importance of making construction tech a priority in Western New York.
Buffalo Niagara Partnership is launching the second year of the Industry Leaders Forum (ILF) building off of a successful inaugural 2023 program. As always, ILF’s goal is to provide a space for BNP members to strategize for the future success of their business, industry, and the overall economic vitality of Western New York.
The BNP hosted its first Economic Development Summit on December 7 as the culmination of the 2023 Industry Leaders Forum (ILF) schedule. An impressive group of Western New York business leaders came together to discuss the current status of the economy as we collectively strategize for 2024.