Among the darkest clouds looming over 2011 for the New York region’s construction industry is the state of subcontractors – and how many of them may falter this year.
“The subcontractor community is starting to see the wear and tear of this recession,” says Joe Hogan, v.p. for building services at the Associated General Contractors of New York in Albany. “The risk of subs defaulting on projects is getting greater, and [general] contractors now have to look for signs of stress.”