Schenectady, N.Y. — The Schenectady County IDA and City of Schenectady IDA scored well in an annual report issued today by State Comptroller Thomas P. DiNapoli.  Both IDAs are administered by Metroplex as part of Schenectady County’s unified economic development team.

The City of Schenectady IDA had the fourth largest new investment project in the State with the GE Battery Project at $105 million. The Schenectady project ranked fourth only behind two mine projects in Livingston County and a wind turbine project in Herkimer County.  The GE project was by far the largest new manufacturing project in the State last year.

The Schenectady County IDA had the lowest expenses per job created in New York State.

Schenectady County Metroplex Chair Ray Gillen said, “We thank the community volunteers on both the County and City IDA’s for their service and the Metroplex staff for their work in administering both IDA’s. These numbers show that we are producing results and keeping costs low.  We had the largest new manufacturing project in the State last year. In addition, the County IDA scored the lowest expenses per job in the State.”

The Schenectady County IDA — compared to 55 other County IDA’s in NYS — reported the 10^th largest number of jobs created due to County IDA projects.  The County IDA also reported the sixth lowest cost per job at $617 per job gained. The State average cost per job gained was $6,306. The Schenectady County IDA had the lowest expenses per job in the State at $25 per job.  The State average was $6,000. Overall, expenses per project ranked 7^th lowest at $2,445.

The City IDA  — compared to 54 other city and town IDAs — reported the 12^th largest number of jobs created. The cost per job of $621 per job gained ranked 16^th lowest.  Expenses per job gained equaled $39 ranking the City IDA 12^th lowest in expenses per job in New York State.  Overall, expenses per project ranked 13^th lowest at $1,642.