After a full year of attempting to sell the three-story commercial property, Onondaga County’s industrial development agency voted unanimously to give the building back to the Greater Syracuse Land Bank, according to Syracuse.com.
The agency had purchased the building two years ago for $99,000 as part of a package deal including the building next to it. The agency also gave $25,000 to the land bank to finish cleaning the property.
This generosity, it seems, stems from the fact that the agency already invested a sizable amount of money in renovations before the intended sale to a contractor who planned to make the building into apartments fell through, and from the fact that they own the neighboring building.
Construction as a whole has been booming in America though, and thanks to the surprise federal spending budget that just passed, it might be getting even better for upstate New York.
According to Buffalo News, the budget calls for a $20 billion increase in funding for infrastructure nationwide.
“This bipartisan and historic agreement is a major shot in the arm for middle-class families from Western New York to Staten Island all the way to the eastern end of Long Island,” Senate minority leader Chuck Schumer said about reaching the budget agreement.
This is good for the construction machinery manufacturing industry as well because more infrastructure development means higher demand for the tools to make it happen. The top 50 construction machinery manufacturers (who generate 90% of the industry’s revenue
) will likely be excited to get to work.
As the nation gears up for the coming splash of infrastructure funding, employment for construction workers could continue to rise. In fact, unemployment rates in the construction industry have been dropping since 2012, and show signs of a continuing trend.
Still, construction is hard work. The average construction worker will take 30,000 steps per day compared to non-construction workers who barely walk a third of the distance. On top of that, they often carry heavy loads and work in less than safe conditions.
All of this goes to say, it is a positive sign to see the construction industry having so much success, even if the plans for the building in Syracuse never came to fruition.