New condo towers changing the skyline of midtown Manhatttan and the New Jersey waterfront across the Hudson River and the ongoing construction near the Freedom Tower highlight a booming construction market in the New York metro. With 58,351 multi-family building permits on the books through August, the city leads the nation and has triple the number of multi-family permits of the second closest MSA, Los Angeles-Long Beach-Santa Ana CA, with 17,114. The Big Apple is still attracting thousands of new residents, with 493,349 new folks calling New York home from 2010-2014. Only Dallas and Houston have seen more population growth. While the city’s multi-family housing market is roaring, it tends to be the most fickle housing segment. The Big Apple dominates the construction headlines in this region, but some interesting projects are underway or planned in upstate New York and New Jersey, including SolarCity’s $900 million solar plant in Buffalo, and the planned billion-dollar mixed use development in Camden, N.J., across the Delaware River from Philadelphia.
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 2016 Sales Multipliers. Read through our introduction to the Electrical Wholesaling 2016 Market Planning Guide for some guidance on using these figures.