Regional development group hits $6M target for capital campaign

Troy Record

ALBANY, N.Y. >> The Center for Economic Growth has reached the $6 million target of its ‘Accelerate’ capital campaign.

Launched in Septmber, Accelerate is a five-year campaign and collaborative investment to accelerate and secure the region’s economic stability. According to a news release from the 30-year-old, regional professional and economic development organization, the success of the campaign leaves the CEG better positioned to promote the region to businesses and entrepreneurs across the country and beyond, while also helping existing local companies to thrive.

“CEG’s successful $6 million capital campaign under the leadership of Andrew Kennedy marks the beginning of a new stage of advancement for not only this vital economic development organization, but also for each of our region’s eight counties,” said Laura Schweitzer, chairwoman of the CEG board and vice president for heralth sciences at the University of Albany. “The region-wide, team effort — from developing our economic blueprint to the Capital 20.20 Plan – laid the groundwork. and now, regional leaders have shown their confidence by rallying behind CEG so it can help implement the plan.”

About 200 organizations have contributed to the campaign, led by Albany Medical Center, National Grid, the Port of Albany, Rensselaer County and SEFCU.

“The Center for Economic Growth plays a vital role in ensuring businesses from throughout the global economy know the benefits of opening a business or expanding their operations in the Capital Region,” Rensselaer County Executive Kathleen Jimino said in the release. “As our region continues to see interest from these businesses, it is imperative that CEG increase their efforts to ensure even greater investment into our communities and job growth, and this campaign will allow CEG to do just that.” To date, the campaign has allowed the center to create three new positions and rebrand the organization with a new logo and website. It has also stepped up its economic development efforts in attracting manufacturers and technology companies to the region.