Equinor Signs Labor Agreement for New York's Offshore Wind Hub Project
By Sabela Ojea
Equinor has reached a labor union agreement for the construction of the South Brooklyn Marine Terminal, New York's first offshore wind hub.
The building and construction trades council of Greater New York and Vicinity on Wednesday said the labor agreement ensures the Empire Wind project will include family-sustaining wages and good benefits.
The construction of the offshore wind hub is expected to commence next, starting with the demolition of existing outbuildings, excavation of the site, and bulkhead preparation work.
The local union affiliates represent approximately 100,000 union construction workers in the New York City region.
"The creation of offshore wind not only propels New York towards its climate goals, but also represents an opportunity to create thousands of good paying union careers, bolster our middle class, and provide our local communities with much needed economic stimulus," said Gary LaBarbera, President of the building and construction trades council of Greater New York and Vicinity.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 27, 2024 16:33 ET (20:33 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks