March 29 2017

CEG reaches $6M capital goal for development initiative

The Daily Gazette

Daily Gazette Staff Report

The Center for Economic Growth has reached its goal of $6 million in donations for its Accelerate initiative.

Launched on Sept. 1, Accelerate is a five-year campaign and collaborative investment to build the region’s economic stability. Two hundred organizations contributed money to reach the $6 million goal, mostly companies but also some non-profits, some schools and a few municipalities. Top supporters were Albany Medical Center, National Grid, the Port of Albany, Rensselaer County and SEFCU.

The funds pledged to the CEG will put the 30-year-old regional economic development organization in a better position to promote the eight-county region to businesses and entrepreneurs across the country and beyond while also helping companies already rooted in the region thrive.

CEG will use the $6 million to focus on five strategic initiatives:

  • 1. Being the primary and most comprehensive resource for business development.
  • 2. Aggressively marketing the entire community to attract new businesses and investment.
  • 3. Strengthening existing businesses to be more competitive in the global marketplace through Business Growth Solutions and Talent Connect programs.
  • 4. Enhancing partnerships and communication by providing high-level networking among the region’s most influential stakeholders.
  • 5. Advancing Capital 20.20, a five-year plan for the region’s future that uses five interlocking strategies to build on existing assets to create a path of strong, sustainable, inclusive growth.

CEG President and CEO Andrew S. Kennedy said the support CEG enjoyed during the campaign is support for the entire region.

“This region has tremendous potential — from world class R&D centers to a highly educated workforce — and the success of our campaign will allow us to more effectively attract investment and jobs that will accelerate the Capital Region’s economy,” he said in a news release.

David Buicko, president and CEO of the Galesi Group, which is developing Mohawk Harbor in Schenectady, said in the news release that the importance of CEG’s mission helped it reach its fundraising goal.

“The Capital Region has tremendous assets and resources, but their impact is limited if businesses outside our borders are not aware of them. That’s why the Capital Region needs a regional economic development organization like the Center for Economic Growth that goes to the businesses and site selectors and highlights how what we have here is a cut above the rest. And that is why so many businesses, nonprofits and government agencies readily stepped up to support CEG.”


Funding Partners