NEWS RELEASE For Immediate Release
Contact: Ray Gillen, Metroplex
(518) 461-7137 (cell)
GE to Make Additional Investments in Schenectady County
Four Other Projects Approved by Metroplex Board
Over $48 million in New Investment in Schenectady County Moving Forward
Schenectady, N.Y., January 11, 2017 — The Schenectady County Metroplex Board of Directors met this evening and approved plans by GE to invest more than $26 million at the company’s Schenectady campus, which is the headquarters of the company’s largest business unit – GE Power. Overall, the Board approved projects that will result in more than $8 million in new investment in Schenectady County.
Ray Gillen, Metroplex Chair said, “We are pleased to support additional GE investments in our community and we thank GE for continuing to invest here. Coupled with four other projects approved today, we demonstrate our ongoing efforts to compete for and win new private sector investments in Schenectady County.”
GE will build a new Customer Innovation Center in Building 40, add conference space and continue office renovations in Building 5, and renovate offices in Building 37. Improvements are also planned for Building 273.
Earlier this year, GE announced $45 million in upgrades to buildings at the Schenectady campus.
Metroplex will provide an exemption on sales tax for building materials purchased for the new renovation projects.
The Metroplex Board also gave final approval to the Mill Artisan District. This $10 million project will renovate nine vacant or underutilized buildings on lower State Street, Mill Lane and South Church Street in downtown Schenectady. This project received $2.325 million in support from the Governor’s Regional Council late last year.
The Board also approved a $3 million project to renovate the former County DSS building which is now vacant at 487 Nott Street. The building was originally a school built in 1877. The project renovates the building saving the historic structure. Metroplex is providing a $100,000 grant toward renovation costs. The building is located across from Union College and is located just a few blocks from Mohawk Harbor. The 39,200 square foot building will be renovated as 15 new apartments.
The Live-In Schenectady project was also approved by the Metroplex Board. This is a $1.5 million investment to build ten new townhomes on Barrett Street and Seminary Place in downtown Schenectady.
Finally, the Board took the initial steps required to move forward with a renovation of the former Macy’s in Rotterdam for an office tenant. Metroplex will hold a public hearing on the project at a future date to be announced later this week.