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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