Economic Development

Bringing new money into the County is equally as important as saving money. Under Dan McCoy’s leadership Economic development over this past year has grown dramatically. Albany County welcomed dozens of new and expanded businesses such as a groundbreaking Pharmaceutic Lab in Colonie, the Capital South Campus and moved Tech Valley High School to the SUNY Polytechnic Institute. Additionally, the Albany County Business Development Corporation continued to be a powerful financing tool, helping to fuel business growth in Albany County. In 2014, the Al Tech Loan fund partnered with five different banks, a credit union, the Community Loan Fund of the Capital Region and the New York Business Development Corp to approve nearly four million dollars in loans to support 19 businesses, a record year for helping small businesses grow and expand in Albany County.

County Executive Dan McCoy also opened Schenectady County Community College- Albany at 112 State Street and with the siting of a casino in Schenectady, and the college’s offering of an associate’s degree in Casino and Gaming Management, the college expects its offerings to grow and to attract many new students.

Albany County has advanced economic development by using innovative approaches and launching new programs to boost our economy.  One such approach was the launch of Tweet My Jobs for job seekers and employers in Albany County to utilize the web and mobile apps to provide instant access to more than 18,000 jobs in the region.  

County Executive McCoy had the opportunity to witness the Wellington Hotel Annex come down to make way for a new convention center. The new Convention Center will be tied into the Empire State Plaza and to Albany County’s Times Union Center. And, in concert with this project, the Times Union Center will be getting a whole new look as well, dramatically enhancing its appeal and the patron experience. The improvements will also give us the opportunity to attract even more big time events like NCAA tournaments, and will attract even more patrons into a revitalized downtown entertainment district.

In 2013 Hoffman’s Playland… an iconic spot for children and family fun announced it was closing. Under the leadership of Dan McCoy, more than a year of discussions and searching for the right partner and location, he happily announced in October that the Playland would be moving to property owned by Huck Finn’s. This announcement was welcomed for the revenue and jobs it will keep in the County; for the revitalization it will bring to Albany’s warehouse district and of course for the memories it will create for generations of children and families to come.

From creating jobs and revenue, to rebuilding our neighborhoods, to being a catalyst for new development… Dan McCoy has ensured that successful economic development is the order of business in Albany County. The Albany County CRC stepped up to help finance the new ZEN Building at SUNY Poly. This $191 million project is another major reminder of how what is happening at SUNY Poly has transformed both our region and our world.

In April 2014, Albany County announced the Albany County Land Bank Corporation to end blight and the devastating effects it has on our communities. To help fund the work of revitalizing our most challenged neighborhoods, the County pledged one million dollars over two years that helped leverage a $2.8 million grant from the NYS Attorney General. County Executive McCoy will continue to work closely with the Land Bank in revitalizing neighborhoods throughout the County and providing safe, affordable housing.