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Earlier in our program, we want to kind of go back to getting a good idea of what's going on in the US economy, and early in our program, we spoke with billionaire developer Rick Caruso. He's founder and executive chair of Caruso, and he did talk about the economy, particularly in southern California.
Tim, we wanted to continue with the building and the economy and bring back Cheryl McKissick Daniels. She's President CEO of Mickissick and McKissick. It's the one hundred and twenty year old company that plays everywhere when it comes to construction management, disaster recovery and resilience, program management, compliance and more. The company works in the academic, aviation, healthcare, and transportation,
park stadiums and more. Think about the Barkley Center, Oculus here in Manhattan, the new Terminal one over at JFK, the Lincoln Financial Field where the Philadelphia Eagles play, and so much more. Cheryl McKissick Daniel joins us from New York. Cheryl, Welcome back. It's been more than two years since you were last on the program. How are you.
I'm terrific, Thank you well, Thanks.
So much for joining us. I want to start by just getting an understanding from you about the economy, where it is in your view and if people are spending money.
I think people are holding back a little bit of prices are high. I know as far as the construction industry, we are beginning to fill some of the tariffs, and so yeah, I think people are holding back on spending.
Talk a little bit about where you're feeling the tariffs.
Well, one in particular, I would say is JFK Terminal One. We're finishing up Phase A of that project, which is almost three million square feet in twenty twenty six, but we are scheduled to start work on Phase B and that's been pushed out, I believe because of tourism is not U has decreased quite a bit to New York City.
Wow, how much has it been pushed out?
Well, right now, it's just slowed and it's been pushed out several months.
Where else are you seeing that too? In terms of projects that you guys are working on, Because Your portfolio is just vast and you cover, like we said, academia, just so many different kind of commercial aspects. Where else are things maybe being slowed down pushed out?
Well, I mean I can only talk about the areas where we work, which is in rail and transportation. You know, the FTA I think has slowed on releasing projects. As you know, several of their staff, more than i'd say fifty percent staff has been released, and so it was very difficult for them to push out the capital program projects that they do have. And so you know, the Gateway seems to be moving ahead just fine.
And this is the Gateway tunnel between New York and New Jersey.
Yes, okay, yes, yes, and I just prayer that that continues.
Well, let's I just want to contextualize that a single project of yours, this is the terminal one at JFK International Airport. It's a nine and a half billion dollars in value project. Your firm is working specifically on the oversight of project management, construction management. As a government liaison. You also handle community outreach, so it really runs the
gamut of what you're working on. Can you give us an idea of the pipeline not necessarily projects that have been announced or where the shovel is in the ground, but projects that you're talking to municipalities about, projects that you're talking to academic institutions about that you're not necessarily ready to announce. But give us a good idea of what that pipeline looks like in terms of how these entities are ready to spend.
Well, I think you know it's it's positive when we think about infrastructure projects, waterfront projects with New York City Economic Development Corporation, I believe the MTA projects are eventually going to move forward. I think the big frontier is some of the micro trips manufacturing plants like Micron that's upstate New York. That's one hundred billion dollars. It's moving forward. And then right after that, I think it'll be the casinos.
Once a casino owner, once the three licensing licenses are awarded, do you think you'll see starting there and that will be billions of dollars.
Do you think New York City will get one of these licenses?
Who knows? You know, if I had to bid on it, I would say probably not in Manhattan.
Outside of Manhattan, so that would be maybe Queen's near the area close to city Field.
Yeah, okay, queens, Yeah, well absolutely.
Cheryl talk to us about the environment. And you know, as you mentioned, about what's going on in terms of various government officials or departments that you know, we're official where folks have been let go, and so what that is doing to different projects, the political environment, the federal political environment. You know, we talk about whether administrations, you know,
are good for the business environment or not. And we do have folks who come on and say that this is an administration that's going to cut back some of the regulatory issues and make it easier better. Is it not making it better easier for what you do?
I don't see evidence of that. You know, if you don't have people sitting behind the desk to actually push the workout, I don't see it getting better. And you know, I have to shift to our energy crisis that can potentially happen. You know now that the administration has really sunset all of the offshore and onshore win projects that we terribly need to supplement our electrical systems. So I am very concerned about where we are headed.
We're speaking right now with Cheryl McKissick Daniel, President CEO of mckissic and McKissick. You mentioned the offshore when Bloomberg New Energy Finance Bloombergetti aff reporting that US offshore wind faces a twenty eight billion dollar hole. With President Trump's moves five under construction, US offshore wind farms, representing about twenty eight billion dollars of committed capital, faced severe delays and even cancelation after recent actions from the Trump administration.
At mckissic and McKissick, do you work on offshore wind?
We do not work on offshore wind, But I am a board of advisor for National Grid and so I understand how critical these other resources are to our grid. You know, there's a high demand for electricity. Buildings that are being constructed now are one hundred percent electric. We have the ev cars, we have the data centers, and so electricity is critical for us, and I believe well we definitely were counting on these wind forms as another strong resource to help us supply electricity. We need.
You sound so pretty negative. No, I don't mean negative, but down on the environment. And I guess we were really looking forward to talking to you because we're trying to get an idea of the way forward in an environment where there's a lot of presidential pressure to cut interest rates, and there's some who say, well, wait a minute, the economy is doing just fine. We don't need that. I'm just trying to understand is it just the overall environment because of politics or is it higher rates?
Like?
What is it that you think is causing kind of the biggest issues for you?
I think it's politics.
Well do you feel do you feel targeted? Can I ask you as as the owner of a minority owner of a business.
No, I don't feel targeted personally. You know, I think for some reason, there's a focus on DEI programs, and you know, it has not affected our business in New York, but it has affected our businesses in other states where municipalities have had to suspend their D and I programs if they wanted to get funding from the federal government. And so that is somewhat of a concern. Now. I hope that we continue to be isolated from that in New York. I don't know how much longer that will last.
Do you get?
You know, on the website, I noticed the firm is referred to as quote the oldest minority women owned professional design and construction firm in the United States. Do you ever consider because of the political environment that we're in right now, not necessarily highlighting that.
No, I do not feel that way. That's what I recently wrote my book, The Black Family Who Built America. I'm so glad that it's coming out in this time and in this age, because it is an account of our family history. After two hundred years when the first descent of our family came to this country in latest first brick, we are still here and we are an
unshakable pillar of ingenuity and resilience. And this book is all about saying, you know, this is a receipt to say that we've always been here and we're not going anywhere. Black excellence may have been ignored, but that doesn't mean it's not here.
Cheryl, you got to come back and join us. It's great to have you back here. Cheryl McKissick Daniel. The new book is called The Black Family Who Built America The Mckissics Two Centuries of Daring Pioneers. It was out last month. Cheryl mckisick Daniel, President and CEO of Mickissic and McKissick