"The purpose of the report is to highlight the economic strengthand changes underway in the overall NYC building industry. We foundthe industry as a whole comprises literally 25% of the city'seconomy," says Richard Anderson, president of the New York BuildingCongress.

New York City comptroller William Thompson, says in a statementthat the study shows how essential this sector is to the life ofthe city. "The industry creates jobs, stimulates our economy andprovides the infrastructure that is the backbone of New York. It isclear that construction community has been at the forefront ofmaking New York the great city that it is. Behind every building,every bridge and every structure are countless hours of laborcoupled with great creativity."

Of the three sectors which comprise the buildingindustry--design, construction and real estate--construction is thelargest. In 2005, which is the year covered in the survey,construction made up $27.4 billion of New York City's economicactivity. Real estate leasing and property management came insecond with $25.9 billion.