Port says that it has $813 million annual impact on economy and is responsible for 1,400 local jobs

ALBANY -- The Port of Albany said in its year-end review of accomplishments for 2024 that it has completed its $100 million reconstruction project, also known as the Maritime Infrastructure Investment Project.

The final phase of the project was completed with $9.9 million from the state Department of Transportation's Passenger and Freight Rail Assistance Program. The funding was announced in March as part of $111 million provided to 40 key projects across New York to upgrade the state's rail and port infrastructure.

The port asserts in its 2024 look back, which was recently published, that it has an annual economic impact of $813 million, supporting 1,400 local jobs and a total of 4,500 jobs throughout the state.

The port said in the document that the port industry, in general, supports one in eight jobs in the United States and contributes $2.59 trillion to the gross domestic product.

The $100 million port reconstruction project has impacted 17 of the port's 30 acres, making it one of the most important construction projects in its history.

"This is the first time in the port's history that the entire maritime terminal was entirely reconstructed since 1932," the port said in the year-end review.

In 2024, the port also hosted the Captain of the Port, U.S. Coast Guard Sector New York Commander Capt. Jonathan Andrechik, who is responsible for Coast Guard oversight from Albany to Manhattan.