New York to Require Prevailing Wage for Private Construction

Private construction projects in New York state could see a 30% increase in labor costs to comply with new prevailing wage legislation included in the state’s budget.

The $177 billion spending plan for fiscal 2020-21, signed by Gov. Andrew Cuomo (D) Friday, would expand prevailing wage laws, extending them to cover workers on certain private construction projects.

The legislation (S.7508-B/A.9508-B) would apply to projects that are worth more than $5 million and get at least 30% of their financing from public funds, such as certain types of loans, tax credits, and other tax incentives that promote construction. It’s ...