metroplex 2012 report to the schenectady county legislature

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

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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