Governor Hochul Announces $10 Million Awarded Toward Albany Capital Center Authority Expansion Project

Grant Complements Governor’s $400 Million FY26 Budget Investment in Albany’s Downtown, Launching the Championing Albany’s Potential Initiative

Governor Hochul announced a $10 million grant to the Albany Convention Center Authority (ACCA) in support of the expansion of the Albany Capital Center (ACC) to continue its mission to be the premier event and meeting destination in the Capital Region. Since opening its doors in 2017, the ACC has hosted more than 1,100 events which attracted more than 630,000 visitors to the capital city, generating nearly $100 million in total new visitor spending and adding over 133,000 hotel room nights in the Capital Region. This grant complements Governor Hochul’s $400 million FY26 Budget investment to launch the Championing Albany’s Potential (CAP) Initiative, a comprehensive, State-led effort to revitalize Albany’s downtown core in partnership with local stakeholders.

“Albany isn’t just the State’s capital — it’s a place where residents should thrive and visitors should feel welcomed,” Governor Hochul said. “The Albany Capital Center is an iconic destination that bolsters tourism through exciting events. With this investment into its expansion, more residents and visitors will be able to experience what the Capital Region has to offer — from expositions to educational conferences — while uplifting the region’s local economy.”

The project, located at 126 State Street, expands the ACC meeting space and adds amenities that will position the center to better serve the growing demands of the events industry. This expansion will add five new meeting rooms, a large multi-purpose room, a large ballroom and pre-function area on the first floor, and a 4,000 square foot courtyard for outdoor events on State Street. This will increase the ACC’s rentable space to 84,000 square feet, making it more competitive and bringing more world-class events that serve as an economic anchor for Albany’s ongoing renaissance.

The $54.9 million project builds on prior State investments at and around the Albany Capital Center that create jobs and economic activity in Downtown Albany and across New York State. The project was recommended for funding by ESD’s Regional Office and Regional Council.

As part of Governor Hochul’s FY26 Enacted Budget, the State is investing $400 million in Albany’s downtown to launch the Championing Albany’s Potential (CAP) Initiative, a collaborative, State-led effort to revitalize Albany’s downtown core. This includes $200 million in funding to plan and implement projects that reinvigorate commercial corridors, strengthen small businesses, promote housing growth, and revitalize underutilized real estate and open spaces. The CAP initiative also includes up to $150 million to transform cultural experiences in and around Downtown Albany such as the State Museum, up to $40 million to advance plans to reconnect communities divided by Interstate 787, and $1.5 million for public safety enhancements.