November 2 2023

Statements on $17M in Fast NY Awards for Coeymans


Below are statements from Capital Region business and community leaders on Gov. Kathy Hochul’s announcement today for the award of $90 million in Fast NY Program awards. The awards included $17 million for the Town of Coeymans for electrical infrastructure upgrades that will bolster economic activity at the Port of Coeymans.

 “The Town of Coeymans is excited to receive the news that it is receiving $17 million in funds from Empire State Development under their Fast NY-Track Program to enhance the electrical infrastructure available in our town and throughout the southeast region of Albany County. We are thrilled to have the ongoing support of New York State in our efforts to continue to develop shovel-ready sites for existing and new economic development opportunities, including those available to support the supply chain efforts needed for offshore wind. This was truly a team effort by the Coeymans Town Board, industry leaders and stakeholders, as well as our partners at the county and state levels. I would like to take this opportunity to thank the members of the Coeymans Town Board;  Albany County Executive Dan McCoy and his staff; Kevin O’Connor, Lucas Rogers and the Albany County Alliance; Katie Newcombe, and the Center for Economic Growth; Mike Yevoli and his staff at Empire State Development; our Governor Kathy Hochul; and our local industry leaders, all of whom assisted to make this opportunity a reality. This electrical infrastructure project, once complete, will ensure that the Town of Coeymans is well positioned to support a vast array of new economic opportunities, and we welcome the job creation that will follow.” 

George McHugh, Supervisor, Town of Coeymans

 “I would like to thank Governor Hochul and Empire State Development for their foresight in awarding the Town of Coeymans a $17 million FAST NY grant to support economic development at the Port of Coeymans and surrounding properties. Congratulations to Carver Companies for their outstanding work in building their facility and helping me build the county’s economy. This money will help build out the necessary power infrastructure to support the attraction of alternative energy companies, helping the county become a hub for offshore wind manufacturing. My staff have been working with the Port of Coeymans on projects representing over $2 billion in potential investment and thousands of manufacturing jobs in Albany County.  This announcement will assist in making those projects a reality.”

Daniel McCoy, Executive, Albany County

 “Carver Companies would like to thank Governor Hochul, Empire State Development, Albany Alliance, the Center for Economic Growth, the County of Albany, and the Town of Coeymans for this tremendous opportunity. This award is a very important step toward the expansion and upgrade of the electrical infrastructure in the Town of Coeymans, which will provide in perpetuity for the growth of the economy, through new jobs, investment in industrial manufacturing, and support of clean energy in New York State.”

Carver Laraway, Owner, Carver Companies

“This Fast NY funding will unlock the potential of a major site in the Capital Region, enhancing the Port of Coeymans’ abilities to attract private investment and create jobs. We appreciate Governor Hochul’s recognition of how important site-readiness is to fostering thriving economies. CEG is proud to have helped draft the application for this funding and we found excellent partners in the Town of Coeymans, Albany County and Carver Companies.”

Katie Newcombe, Chief Economic Development Officer, Center for Economic Growth


About the Capital Region Chamber and Center for Economic Growth:

The Capital Region Chamber and its Center for Economic Growth affiliate drive economic prosperity with one voice, one mission, as one region. The Chamber, with 2,600 member-business from throughout Albany, Saratoga, Schenectady, and Rensselaer counties, provides catalytic leadership, advocacy, and broad-based member services. The Center for Economic Growth is the 8-county regional economic development organization. 



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