When was the Schenectady County Metroplex Development Authority created and why?
Metroplex was established in 1998 as a public benefit corporation by the State of New York to institute a comprehensive, coordinated program of economic development activities in the Route 5 and Route 7 corridors of Schenectady County, with a focus on downtown Schenectady.
What is the mission of the Schenectady County Metroplex Development Authority
The mission of the Schenectady Metroplex Development Authority is to:
- enhance the long-term economic and social vitality as well as overall quality of life in Schenectady County through a comprehensive, coordinated program of economic development within the Metroplex service district with particular emphasis on downtown Schenectady;
- attract, incentivize (when necessary) and leverage private investment through various forms of financial assistance;
- assist with site acquisition assemblage, development and revitalization; and,
- provide cooperative technical assistance and support through its participation in projects, programs and other initiatives.
What can Metroplex do?
The Metroplex enabling statute allows the Authority to design, plan, finance, site, construct, administer, operate, manage and maintain facilities within its service district.
How is Metroplex funded?
Metroplex is funded through dedicated sales tax receipts derived from Schenectady County.