By R.J. DeLuke
Investors in The Center for Economic Growth approved in October the idea pursuing an affiliation with the Capital Region Chamber.
Under the affiliation, CEG would retain its identity and remain a legal entity whose sole member would be the Capital Region Chamber. CEG would have its own board of directors and representation on the Chamber board.
The changes will take place starting Jan. 1. Chamber members approved the idea in September.
The Capital Region Chamber and CEG informed their memberships in June that their boards had formed a Joint Task Force to consider potential affiliation.
“After conducting a comprehensive due diligence review, we are pleased to report that both boards have concluded that it would be in the best interest of the shared missions of each organization for CEG and the Capital Region Chamber to align under one organizational structure with a unified vision and coordinated strategy,” a letter to membership, over the signature of Mark N. Eagan, CCE, president and CEO of the Capital Region Chamber, and Paul Milton, Chamber board chair, said.
Eagan will continue to lead CEG as CEO and president. He plans to hire a senior economic development executive to oversee CEG’s portfolio of work.
The change came after Andrew Kennedy, who was CEG’s CEO and president of CEG, left to join the lobbying firm Ostroff Associates. He worked with CEG on a limited basis until the affiliation was approved by investors, officials said.
The joint task force formed by the two boards of directors concluded that it would be in the best interests of both to align under one organizational structure with a unified vision and coordinated strategy, said a statement from the Chamber.
“The organizational structure of the Capital Region Chamber was intentionally designed to be inclusive and welcoming of other aligned organizations that may wish to affiliate,” the Chamber letter said. “Under the affiliation model being recommended, CEG would retain its identity and remain a legal entity, whose sole member would be the Capital Region Chamber. CEG would have board of directors and also have representation on the regional Chamber board.”
CEG will continue to provide regional economic development services such as advising businesses on sites and incentives, providing regional economic data and analysis, and supporting the Regional Economic Development Council and regional economic development strategies. CEG will remain the Federally designated Manufacturing Extension Partnership (MEP) Center and support the Chief Executives Network composed of area manufacturers.
“The Capital Region Chamber is united to drive economic prosperity with one vision, one mission for one region,” officials said.
The Capital Region Chamber was formed by the 2015 affiliation of the Albany-Colonie and Schenectady County chambers. The merged entity took on the Chamber of Southern Saratoga County as an affiliate in 2019.
The Center for Economic Growth is a nonprofit economic development organization that works to market the Albany region, attract investment and provide services to help businesses grow. It’s backed by more than 250 local companies and organizations that give annual contributions at different tiers between $1,500 and $50,000.
CEG will continue to provide regional economic development services such as advising businesses on sites and incentives, providing regional economic data and supporting regional economic development strategies.
