Assembly Minority Leader James Tedisco (R,C,I-Schenectady-Saratoga), Sen. Hugh T. Farley (R,C-Schenectady) and Assemblyman George Amedore (R,C-Rotterdam) today praised Gov. David A. Paterson for signing the Schenectady Metroplex Development Authority Act, which increases the authority’s bonding cap from $50 million to $75 million.
“Metroplex has created jobs, lowered taxes and spurred economic development throughout Schenectady County,” Tedisco said. “Since its inception in 1998, countless projects have come to fruition in our community. We now have 31 new commercial buildings on our tax rolls and 23 new companies have relocated in our county. I applaud Gov. Paterson for recognizing the importance of this initiative, and thank him sincerely for signing my bill into law.”
“During the past ten years, Metroplex has helped to change the face of Schenectady, bringing new jobs, new investment, and a new sense of optimism,” Farley said. “This positive economic development was what I predicted when I created Metroplex, and I’m pleased that the Governor agrees with me and has signed into law this expansion of Metroplex’s investment authority.
The lawmakers noted that Metroplex has transformed Schenectady’s downtown with improvements to the historic Proctors Theatre and new construction including a hotel, a multi-screen movie theatre and state-of-the-art office space. Additionally, Metroplex funding is responsible for the RailEx facility in Rotterdam, creation of 1,400 new jobs at the Air National Guard base in Glenville and the $30 million expansion of GE Global Research in Niskayuna.
"It was heartening to see local and state leaders working on a bipartisan basis to reach an agreement to continue the work of Metroplex,” Amedore said. “We all need to work together to create economic development and Metroplex is one vital tool to help business and infrastructure in this county. I was pleased that elements of the legislation were aimed to ensure Metroplex is not a political entity, and furthermore am anxious to see the findings of the state audit; because taxpayers deserve more accountability and transparency with their tax dollars.”
The new law also prohibits elected county officials, members of the Legislature and political party chairs from gaining employment with the Metroplex board.