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 History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth