New BNBA Video Highlights Economic Impact of Homebuilding Industry Throughout WNY Region & Beyond
“This new study and resulting video are just two of the many benefits associated with BNBA membership and serves to highlight how the residential construction industry and its trickle-down economics have far-reaching effects ranging from increased tax revenues to permanent job growth, debunking the myth that homebuilding doesn’t pay its own way. In the wake of the Covid-19 epidemic, these issues have become even more relevant as essential businesses like those in the homebuilding industry work to keep their organizations thriving following the economic upheaval of 2020,” says Nanula.
Narrated by BNBA Consulting Economist, Elliot Eisenberg, Ph.D., the 30-minute video highlights key economic issues surrounding the building industry by providing an in-depth explanation and discussion of the three different phases associated with the homebuilding process (Construction Phase, “Ripple” Phase, and Occupancy Phase), while exploring alternative approaches to thinking outside the box when it comes to understanding the role new home construction plays within the economy not only across WNY, but on the regional and national levels too. Nanula points out that the video has been so well received by those in the construction industry that it is on the fast track for dissemination to various elected officials in both local and state governments, while serving as a model for similar videos to be produced across the country by other regional builder associations like the BNBA.
“This video is very informative and provides relevant statistics on how everything from paychecks to property taxes flow back into the economy as the result of building just one home. For example, if just one regional builder employs more than 50 subcontractors in building its homes, you can begin to get an idea of just how far-reaching the economic impacts are of this industry, especially after viewing the cost/benefit analysis demonstrated in this video. In addition, Dr. Eisenberg very astutely makes the case for recognizing new residential construction as one of the area’s largest employers when looking collectively at all those in our region who are involved in the homebuilding process from start to finish. Finally, this video serves as an excellent educational tool that can be utilized by subcontractors to inform employees about the economic impact of their daily work, as well as by educators looking to provide students of any age with a comprehensive overview of the building process, including those pursuing degrees across multiple academic disciplines ranging from engineering to business,” comments Nanula.
The video may be viewed in its entirety under the section entitled “Buffalo Metro Area Home Building Impact Study,” on the first page of the BNBA’s website at www.bnba.org" www.bnba.org. For those businesses who have considered joining the BNBA and want to learn more about the many benefits of membership, contact Jennifer Retzlaff at 716.874.3435 ext. 212, or via email at jretzlaff@conexbuff.com
The Buffalo Niagara Builders Association (BNBA) is a non-profit organization whose mission is to be the voice of builders, developers, and associated industries. The association advocates for choice in housing, economic growth, and quality of life issues in the community. Its membership includes small, medium, and large volume home builders, commercial builders, developers, and remodelers. Associate/institutional members are professionals and tradespeople who work with and support the industry, including subcontractors, architects, engineers, building materials suppliers, realtors, bankers, attorneys, and others.
Contact: Philip J. Nanula
PR Chairman – Buffalo Niagara Builders Assn.
philn@essexhomeswny.com
716.874.3435
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