A new study on New York City's institutional construction starts proves what most industry firms already knew: The "meds and eds" sector helped keep many firms afloat during the recession.
The city's public and private institutions initiated $14.8 billion in construction work from June 2008 through May 2013, with the educational and health care sectors accounting for 61% and 25%, respectively, of that, according to the New York Building Congress's (NYBC) latest study.