albanyweblog.com
Updated
August 5, 2006
Reprinted from the:
Albany/Colonie Chamber News
Mayor Launches Re-Capitalize Albany to Bolster Economic Development
Thursday, July 06, 2006
Mayor Gerald D. Jennings has convened an Advisory Committee in order to respond to changes in the local, national and global economies.
Re-Capitalize Albany, will focus on three key areas to help better position Albany as a destination for 21st Century employers and employees: education, development and neighborhood revitalization & planning.
Capitalize Albany was originally launched in 1994 to establish the city's economic development strategy. This highly successful initiative resulted in more than 200 new development projects and more than $2 billion in new investment.
"Re-Capitalize Albany will develop strategic initiatives that will advance our capital city's continued economic growth. By focusing our efforts on these three key areas we will be better positioned to maximize the economic opportunities we have created for our city," Mayor Jennings said in a statement. "We are going to expand on the success we've seen in Albany and continue to work to create the nation's best Capital City."
The Re-Capitalize Albany Advisory Committee - co-chaired by Thomas Geisel President of Key Bank and Dr. Mark Sullivan, President of The College of St. Rose - has appointed three sub-committees and their chairs to help lead the Re-Capitalize Albany effort:
.Education Sub-Committee - Chaired by Dr. Mark Sullivan, will focus on identifying the role that the business community can play in improving education in the City of Albany.
.Development Sub-Committee - Chaired by John Egan, President, Renaissance Corp., will work to prioritize development projects and resources, recommend solutions for the adaptive reuse of commercial building stock and further promote Albany to attract visitors, residents, investors and developers.
.Neighborhood Revitalization and Planning Sub-Committee - Chaired by Robert Curley, Chairman of Citizens Bank's New York, will identify critical factors impacting neighborhoods including homeownership, public-private partnerships, planning & development, public safety and other quality of life issues.
Capitalize Albany has been the economic development strategy of the City of Albany. The program began in 1994, was revised in 2001, and aimed to create and develop an environment that attracts public and private investment in large-scale transformational development projects that will materially improve the economic well being of the City of Albany.
This approach has been instrumental in bringing more than 200 development projects totaling more than $2 billion. The Albany Local Development Corporation (ALDC) is the primary entity responsible for assisting the City of Albany in the implementation of the Re-Capitalize Albany strategy.
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