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.
Thank you to our sponsors
Presenting Sponsors
Supporting Sponsors
Related Posts
Talent is Everything: The BNP Tech Industry Leaders Forum
Buffalo Niagara has approximately 12,900 tech jobs across 5,200 tech and tech enabled firms, according to extensive research by Tech Buffalo and the University at Buffalo Regional Institute. Between 2010 and 2019, tech jobs here grew at a rate of 4%, trailing our peer cities and the top ten national tech hubs.
Competing in a Changing Economy: The BNP Small Business Industry Leaders Forum
Small business owners are facing constant and complicated challenges, ranging from staffing shortages to rising costs. On May 18, the BNP convened the first Small Business Industry Leaders Forum (ILF) to explore shared strategies and to discuss how the sector can compete in a changing economy and shifting talent market.
Buffalo Niagara tourism builds back from Covid crash, but faces challenges
BUFFALO, N.Y. (WKBW) — As the weather gets warmer, tourism in the Buffalo Niagara region becomes more visible – whether it’s the blue ponchos at the Maid of the Mist or convention attendees making their way down Franklin street to the Buffalo Niagara Convention Center.
Understanding the Value of Visitors: The BNP Hospitality & Tourism Industry Leaders Forum
Building a positive visitor experience is a cornerstone of the Buffalo Niagara economy. Visitors to Western New York generated $2.7 billion in spending in 2021, according to an Oxford Economics Company report. Now more than ever, our hospitality and tourism sector is essential to the region’s success.