metroplex 2012 report to the schenectady county legislature
DESCRIPTION
A review of more than 60 economic development announcements made by Schenectady Metroplex Development Authority in 2012.TRANSCRIPT
Schenectady*County�s*Unified*Economic*Development*Team*
February*4,*2013**
• Administered by Schenectady County Metroplex Development Authority
County Economic Development Team
2012: The Year in Review
• Momentum Continues to Build
• Over 60 Economic Development Announcements
• Results Matter
****
Niskayuna)
Former St. James Square • Property sale was #1 commercial sale in Capital Region in 2012 at $11.8 million • More tenants opening • Demo of former Friendly�s will set stage for more tenants in front of plaza
New Army Reserve Center
• $20 million military construction project underway
• Supports overall military base retention strategy
• Will help rebrand Niskayuna Commerce Park and help us attract additional companies to site
Other Niskayuna Updates
• Major commercial sections of Town added to Metroplex service territory
• Commercial office space on River Road now almost fully occupied – only two small office suites left
Glenville)
Former Kmart Site
• County team put together successful Kmart-site development plan and executed the strategy
• 14-acre vacant blighted site replaced with $20 plus million investment
• Completed and opened on schedule in October
• Work now underway on pad site and site adjacent to Target
• More tax base, jobs, sales tax where vacant site once stood
GSA/Former Navy Depot Site
• Demo and clean-up now underway
• Sets stage for redevelopment of 60 acre site at Glenville Business and Technology Park – new tax base and jobs
Dimension Fabricators
• $650k expansion – company continues to land new orders, create jobs at Glenville Business and Technology Park
Adirondack Beverage
• Helped company secure Recharge NY power allocation to attract $2 million investment, 10 new jobs, retain 200 jobs at Glenville Business and Technology Park
DHA Holdings
• $100k County loan helped company double size of its production/assembly facility in Glenville Business and Technology Park
• 30-40 new jobs
• Brings GE and other subcontract work to Schenectady County that was performed in China/other locations
Socha Plaza
• Vacant land will be site for new 60,000 square foot building – mixed use office, retail, residential
• Company seeing impact from new GE jobs, other growth on Route 50 corridor
• $9 million investment
Baptist Senior Assisted Living
• $14.4 million, 67 unit assisted living to create 35 jobs – financed thru County CRC
Glenwyck
• $7.3 million 104 unit senior housing
C-130�s to Remain at Stratton ANGB
• FY 2013 defense bill prevents relocation of four planes
• $125k State grant to continue to defend base jobs – over 3,000 in County including Stratton ANGB and two Reserve Centers (both new)
Village)of)Sco4a)
! Work continues on McDonalds site (enviro testing completed) and other key commercial building improvements on Mohawk Avenue
• New apartments in Village on schedule
Ro6erdam)
Former Vstream
• Filled key 52,000 square foot building
• Recruited Tech Fibers
• HQ in England
• Moving work to Rotterdam from Connecticut and Ohio and 30 to 50 new jobs
• Major upgrade to tech manufacturing/office complex on Burdeck Street - $3 million investment
Railex
• Landed $1 million award from NYS to support $12 million expansion and 100 new jobs
• Railex will add 64,000 sq. ft. of space to existing 228,000 sq. ft. facility
• Demo of former Buildings 9 & 10 creates pad site for development across from Railex
Building 14
• Former State bakery and warehouse
• Secured $2 million private investment
• New tenant ITR America – construction parts supplier
• Another new tenant to be announced shortly
GE Tax Agreement
• Historic agreement with Town, County, School District provides stability and invites new investment
• $49 million in Pilot payments over next ten years
• Great example of working together
Curry Road Plaza
• County team worked with Town to create RFP
• $20 million project planned – new retail on Curry Road with two ninety unit senior apartment buildings and green space in rear plus room for fire house to expand
City)of)Schenectady)
GE
• Additional $70 million investment in new battery plant announced at plant opening by GE CEO Jeff Immelt
• 100 new jobs in addition to 350 jobs
Workers Comp
• Proactive approach to restacking by State
• New agency and 300 jobs for downtown
• Created website and welcome sessions for employees
Armory
• Helped to coordinate sale with OGS
• New owners plan sports-themed venue
• Will be another downtown attraction
• Floor space is largest in region
Mexican Radio
• $3 million private investment
• 30 plus new jobs
• Two story venue downtown plus office/residential
• New Johnny�s at Center City helps complete Proctors Block build out
• Center City success
New Development Project on Broadway
• $3 million private investment
• 16 apartments and ground floor retail
• All approvals and bank financing in place for spring start
Benchemark
• Second largest commercial printer in Capital Region
• $1 million expansion to retain company, 93 jobs and add 12 new jobs
845 Broadway
• $25 million project
• 155 apartments
• Financing in place, work underway
Transfinder
• New $5.5 million corporate HQ on schedule
• $150k State grant to help purchase First Niagara Bank Building for continued expansion/tech space
Bus Station
• Major façade upgrade underway
Amtrak Station
• To break ground this year
Case Window
• $2 million loft housing conversion of long vacant Case Window building
SCCC Student Housing
• $11 million private investment opens on schedule
• SCCC at Center City expansion complete
• 2,668 students enrolled at Center City for spring semester
Town Homes at Union Square
• More downtown housing in rebounding lower Union Street corridor
• Phase 2 planned for this year
• Same developer also rehabbed 12 units at 27 Lafayette Street
409 State Street
• Seven units of downtown housing
Capital Living
• $30 million facility on schedule on Altamont Avenue
414 Union Street
• Former planned parenthood now corporate offices plus housing
131 State Street
• Former Girl Scouts on lower State Street now open as Madison Handbags
Continue plan that is working
• Broadway to Proctors block to Jay to Golub HQ
• Erie from renovated and expanded GE to redeveloped Alco site
• Lower State
Summary
• Results matter
• $210.8 million in new investment in 2012 creating tax base, sales tax, more than 700 new jobs/993 retained jobs
• Over 6,200 jobs since 2004
• Over $830 million in new investment since 2004
• 51 Pilots generating $9.23 million