Quip NYC Inc., the local oral health startup and toothbrush innovator, has received a new round of financing. The company, based in Brooklyn, now has more than $60 million in backing. … Read more at the New York Business Journal.
The City Will Need More Construction Jobs in Coming Years
Construction spending is set to reach $61.8 billion by the year’s end, according to the New York Building Congress. Employment has expanded as a result, with construction jobs to exceed 150,000, the seventh year in a row there has been an increase. But amid the wave of construction, developers and builders have grappled with a tight labor pool. … Read more at BisNow.
INDUSTRIAL REAL ESTATE
Universal Door Expands with $4.4 Million Brentwood Acquisition
Universal Door, a Brooklyn-based door manufacturer, has purchased a Brentwood industrial building for $4.4 million. The 43,750-square-foot industrial building is on 3 acres at 75 Emjay Blvd. and represents an expansion for Universal, which will remain headquartered in Brooklyn. … Read more at Long Island Business News.
GM Plans Massive Layoffs in North American Operations
General Motors will lay off 14,700 factory and white-collar workers in North America and put five plants up for possible closure as it restructures to cut costs and focus more on autonomous and electric vehicles. The reduction includes 8,100 white-collar workers, some of whom will take buyouts and others who will be laid off. … Read more at NJ.com.
NJ Legislators Approve Bill to Legalize Marijuana Use
A joint committee in the state Legislature approved Monday a measure to legalize, tax and regulate recreational marijuana for New Jerseyans over the age of 21. Lawmakers approved Senate Bill 2703 in a committee meeting following four hours of testimony and an hour of deliberation by legislators. … Read more at NJ Biz.