Albany County Executive Daniel P. McCoy today released his Executive Budget for fiscal year 2025. Albany County continues to face challenges such as rising inflation and global economic shifts as we adapt to the “new normal” posed by a post-pandemic economy. His fiscally responsible spending blueprint focuses on strategic investments that will not only provide short-term benefits, but will also set Albany County up for even greater success in the long term. The balanced budget, totaling $847 million, represents a 3% increase over last year’s 2024 Adopted Budget valued at $822 million.

 In his latest spending plan, County Executive McCoy was able to reduce the effective tax rate to $2.73 per $1,000 in assessed property value for 2025, down from $2.84 per $1,000 this year and from $3.95 in 2014. That represents more than 30% reduction over the last decade.

 “Despite the challenges posed by rising inflation, global economic shifts, and unfunded mandates, I have delivered on my commitment to provide the highest level of services at one of the lowest tax rates in the New York State,” said Albany County Executive Daniel P. McCoy. “This budget represents more than a decade of decreasing the effective property tax rate and will allow us to build off of our progress to ensure continued economic growth and job creation. It has not been easy, but I’m proud to oversee a budget with that has cut the tax rate 30% since 2014. I would like to thank the County Legislature, Comptroller Susan Rizzo, Sheriff Craig Apple, Sr. and Clerk Bruce Hidley for their cooperation during the budget process.”

 Albany County is number 11 when it comes to lowest tax rates in New York State. This was done without cutting programs or services, but instead embracing programs and partnerships that make government operations more efficient and cost-effective. Through a partnership with Health Insurance Solutions, Inc., during 2023 and 2024 Albany County saved a cumulative $5.7 million in employee prescription drug costs. In 2025, over $4 million in annual savings is anticipated.

 Economic development and job creation remain top priorities in County Executive McCoy’s administration. The Advance Albany County Alliance continues to be an important tool that has shown a dramatic increase in private investment, including Regeneron’s development in Menands, Atlas Copco’s $40 million expansion in Voorheesville, and Bilinski Sausage Co.’s growth in the Town of Colonie. This is in addition to important redevelopments, including the Al Tech Steel site, the former Ann Lee Home site and the Central Warehouse demolition.

 The Sustainable Technology and Green Energy (STAGE) Program, Albany County has provided $3.65 million in grant support for clean technology-focused manufacturing expansion projects to date. This is in addition to another round of funding totaling $3 million budgeted for 2025.

 When critical institutions collapse, the ripple effects are felt throughout the community. That is why the County Executive guided the creation of the Albany County Pine Hills Land Authority in an effort to preserve the legacy of the College of Saint Rose. The Authority will attempt to lead efforts to acquire, preserve, and repurpose the campus in a way that maximizes public benefit. 

 Workforce development is a key component of economic development, and the County Executive has placed an emphasis on utilizing American Rescue Plan (ARPA) funds on underserved communities. He awarded fifteen grants totaling more than $2.2 million to leading organizations to support new and expanded training opportunities that will support industries like health care and manufacturing. These funds make a meaningful difference, improving people’s lives and creating a pipeline of talent that attract more great companies to our County.

 County Executive McCoy remains committed to the men and woman employed by Albany County that work hard every day for our residents and visitors. He continues to invest in policies and programs that strike a work-life balance and create a more enhanced working environment, as well as implementing salary increases. Coverage for eyeglasses, hearing aids and dental care was increased two years ago. This year, more generous versions of paid parenting leave and continuing health coverage for surviving spouses, greater liquidation of vacation accruals upon separation, and an expansion to the donated leave program were implemented. These efforts continue to show positive results with staffing levels returning to pre-pandemic levels. At this stage nearly all employee union contracts have been settled.

 Another innovative way to retain and recruit top talent is the new Little Sprouts at Shaker Place Rehabilitation & Nursing Center. This state-of-the-art children’s daycare center is available to county employees at a subsidized rate. All of these efforts ultimately translate to better and healthier workforce and work environment for our employees, which in turn allows Albany County to continue to provide vital services and programs to residents.

 The social services and programs offered by County government and local nonprofits play an equally pivotal role in ensuring a full economic recovery. Access to childcare and housing assistance are what make it possible for vulnerable populations to fully participate in the workforce. Food insecurity remains a top issue in our region, and that is why the County Executive committed $250,000 to the Regional Food Bank and United Way of the Greater Capital Region to fight the hunger gap. Included in the 2025 budget is an additional $250,000 to continue this critical initiative. 

 The benefits of investing in addiction recovery are clear: it strengthens our labor force, reduces public costs, and improves the overall health and safety of our County. Albany County was one of the first in the state to take on Big Pharma in court for their role in the opioid epidemic. Albany County recently awarded $2.3 million of Opioid Settlement Fund Community Grants to twelve organizations. These monies fund treatment, recovery, prevention, and education programs so that we can stop more of these tragedies from ever happening. Additionally, nearly $800,000 has been dedicated to expanding County programs and services to bolster these efforts. Future opioid settlement funds will allow us to build off of this progress and drive down the number of opioid overdose deaths.

The full 2025 Executive Budget can be found on the Albany County website at  www.albanycountyny.gov by clicking on the rotator on the home page.