Now that Superstorm Sandy's floodwaters have receded and power is restored to most of the millions it affected, industry executives in the tristate region are warily eyeing the sudden surge in construction activity and spending. The storm's boost to industry may last till around mid-2013, they say. But, unlike Sandy, that boost is not powerful enough to affect the industry's long-term economic outlook dramatically.
That is in part because the storm slowed or stopped projects in the last quarter of 2012; whether and when some of these projects will restart is questionable, executives say. Also, much of the reconstruction work will take time to begin as owners and contractors wait on government funds and insurance payouts as well as the design, permitting and procurement processes, they add.