New York businesses bracing for Republican National Convention

New York businesses bracing for Republican National Convention

Press Release
August 4, 2004

CoreNet Global survey: Respondents expect negative fallout as
workers telecommute and take liberal leave to avoid traffic, disruptions

ATLANTA – August 4, 2004 – In a survey of New York area corporate real estate managers conducted by CoreNet Global, the leading professional trade association for corporate real estate executives, businesses anticipate declines in productivity and a negative impact on some of their bottom lines, as the Republican National Convention meets in New York August 30- September 2, 2004.

Fifty-six percent of the respondents tell CoreNet Global that the absence of workers in their normal workplaces will create a decline in productivity. Also, 29% of New York businesses which answered the survey say there will be a negative impact on their company’s bottom lines over the four-day period of the convention.

While most respondents expect business as usual during the nominating convention, 25% are providing workers with the option to work from home, 22% are providing some sort of liberal leave and 6% say workers can report to alternative office space away from Madison Square Garden, where the convention is being held.

CoreNet Global’s New York members are implementing back up plans to offset the anticipated lack of rail access and other inconveniences while the Republicans are in town. Forty-five percent of survey respondents say they are planning to take vacation time.

Companies are taking additional security precautions, according to the CoreNet Global survey with 47% saying existing policies will be enforced more strictly and 18% say they will be changing or limiting building access during the convention.

CoreNet Global Director of Publications and Media Relations Richard Kadzis says, “the findings of the survey of New York chapter members are consistent with our previous research.” Kadzis adds that, “by 2010 our previous survey found that 70% of workers will spend more than 25% of their time working in unassigned space mitigating the impact of major events like the political conventions on corporate productivity.”

CoreNet Global members manage $1.2 trillion (US) in worldwide corporate assets totaling 700-billion square feet of owned and leased office, industrial and other space. With 7,500 members representing large corporations around the world, CoreNet Global (www.corenetglobal.org) operates in five global regions: Asia, Australia, Europe, Latin America and North America, including Canada.