REBUILDING NEW YORK CITY THROUGH A HISTORIC ECONOMIC RECOVERY PROJECT LABOR AGREEMENT
The Economic Project Labor Agreement (PLA) signed by the Building and Construction Trades Council (BCTC) and the Building Trades Employers' Association (BTEA) has launched an unprecedented private sector stimulus program. To date, the PLA has created over 25,000 jobs at over 43 jobsites, stimulating over $7.4 billion in construction activity.
The PLA has delivered significant cost reductions at major construction sites across the city and jump-started stalled development projects including Beekman Tower and Atlantic Yards. In addition to these sites, Union Carpenters & Contractors will potentially benefit from thousands of more jobs and billions more in construction spending that will be sparked by projects for which applications to use the PLA have been submitted and are in the process of being reviewed for approval.
The agreement will be made available to private projects until June 30, 2010. Any project approved during this period can be built under the terms of the PLA for the full schedule of the project, even if work continues after June 30, 2010. The BCTC and BTEA will determine if the PLA will be extended and made available to projects starting after June 30, 2010 based on economic performance in the first half of this year.