2001 to 2010
The biggest event of this decade has to be the “Great Recession”. While the list of jobs below completed during these years looks impressive, only a third of them were constructed after or during 2009 when the recession really hit our industry.
History tells us that the Construction industry goes into a recession about 2 years after it starts because they have projects planned and funded for that long, equally it takes about 2 years to recover after the recession ends.
The recession officially started in 2007, but the unemployment rate didn’t dramatically rise until 2009 when it exceeded 9%. From 2009 forward, Local One employment was down almost 50% and continues to this point in 2011. The worst situation since the “Great Depression” of the 30’s.
- 96 story Trump Hotel and Tower 82 story Aqua Building
- 73 story Legacy at Millennium Park 64 story 340 on the Park
- 62 story One Museum Park 60 story Elysian
- 60 story 300 North LaSalle 59 story Millennium Center
- 58 story River East Center 57 story Grand Plaza One
- 57 story The Heritage at Millennium Park 56 story 55 East Erie
- 54 story Blue Cross/Blue Shield Tower 54 story 1 Museum Park West
- 53 story Streeter Place 52 story The Clare at Water Tower
- 52 story The Fordham 51 story 111 South Wacker
- 50 story One North Wacker 48 story Hyatt Center
- 45 story 155 North Wacker 44 story 353 North Clark
- 39 story One South Dearborn 37 story Citadel Center
On the national and International scenes, it was a series of disasters.
- September 11, 2001. The attack on the World Trade Center.
- October 7, 2001. The U.S. and allies launched the war in Afghanistan in response to the 9/11/2001 attack on the World Trade Center.
- March 19, 2003. The U.S. and allies invaded Iraq in response to reports of Weapons of Mass Destruction
- August 29, 2005. Hurricane Katrina hit’s the Gulf coast.