Metroplex credits GE Vernova, state grants for roughly $535 million in 2024 investments

Commissioner Ray Gillings presented Metroplex’s 2024 annual report to the Schenectady County Legislature’s Committee on Economic Development and Planning, saying the county recorded roughly $535 million in new investment and more than 800 new jobs in 2024.

“It's more than a deal a week,” Gillings said, summarizing the agency’s deal flow and arguing the county’s unified economic development approach has sustained momentum since 2004. The presentation focused on major private investments, supplier relocations tied to General Electric (GE) Vernova and several state grant awards Metroplex helped secure.

Metroplex highlighted multiple project announcements tied to GE Vernova’s downtown Schenectady campus and related suppliers. Gillings said Metroplex tracked a $22,000,000 project creating about 150 jobs for advanced generator manufacturing and a roughly $30,000,000 onshore-wind program expected to create about 100 jobs. He also described a $10,000,000 direct air capture facility under construction in Niskayuna (28,000 square feet) and said GE Vernova committed about $105,000,000 to an advanced research center in Niskayuna expected to add roughly 75 Ph.D.-level research positions; Metroplex is pursuing a $10,000,000 state Fast NY infrastructure award to support that site.

Gillings credited cooperation with Empire State Development and Governor Kathy Hochul’s office for several wins and described a foreign-trade zone approval for the downtown plant and a supplier that will export onshore wind components internationally. “Money follows money,” he said, underscoring Metroplex’s strategy of attracting suppliers and spin-offs to the county.

The presentation listed other private capital projects in 2024, including multi‑building expansions and new leases (examples noted by Gillings): a fourth CTDI facility (about 200,000 square feet, $7,000,000 investment, roughly 200 jobs), Belle Joso Cheese in Glenville (about 220,000 square feet), Adirondack Beverages’ expanded logistics footprint, and multiple downtown reinvestments. Gillings said Metroplex helped Union College issue $60,000,000 in bonds through a county conduit and reported the Mohawk Harbor events center was under budget and ahead of schedule for a mid‑2025 opening.

Gillings also described Metroplex’s role in winning competitive grants. He said Metroplex helped write and secure a $10,000,000 SWIMS grant and noted a state announcement of a $4,950,000 grant to support the SCAP campus, a roughly $37,000,000 project for daycare and affordable housing on State Street. He said other projects moving forward include a $47,000,000 YWCA housing project in the Stockade and several housing and adaptive‑reuse projects across the city.

Committee members praised the report and singled out the GE Vernova announcements as a potential game changer. Members also discussed how reusing existing industrial buildings accelerated production: Gillings said GE converted a refurbished building to produce wind-turbine nacelles in a matter of months and the site had ramped to a capacity of about one unit per day.

Gillings closed by restating Metroplex’s development standards—capital infrastructure investments, protection of the aquifer, economic diversification and “smart growth”—and thanked county staff and partner organizations for cooperating under a unified economic development structure.

Metroplex’s presentation was informational; no formal committee action was requested or taken on the annual report during the meeting. Gillings answered committee questions and accepted praise from legislators.

Ending: Metroplex said it will continue to pursue state funding and private investment opportunities tied to advanced manufacturing, waterfront redevelopment, housing and sports tourism as projects move from planning into construction throughout 2025.