A "Wicked" Good Investment

The Schenectady County Legislature, led by Chairwoman Susan E. Savage, has declared December as “Wicked Month” in Schenectady County and anticipate the award winning musical will generate an estimated $10 million in revenue for our local businesses.

“This is an exciting time for Schenectady County as we welcome thousands of visitors to our downtown,” said Chair Savage. “Our support of this historic theater has been a “wicked” good investment as the County’s efforts to rebuild downtown are really paying off for Schenectady County taxpayers.”

To attract blockbuster touring Broadway shows, Proctors proposed on an exciting new $30 million expansion. In 2004, the Schenectady County Legislature kicked off the expansion campaign with a $1 million grant and transferred the Carl Company to Proctors for a new box office, the GE Theatre, new conference spaces, and retail space. This was followed by a $10 million investment by Metroplex which was approved by the County Legislature. In 2007, the Schenectady County Legislature awarded an additional $450,000 grant that completed Proctors fundraising efforts. That same year, the County and Proctors entered into a 15 year agreement that would award Proctors $200,000 per year from the county hotel bed tax to support this important downtown venue.

The fruit of that investment has is highly evident in the rejuvenated downtown of a once struggling city. This investment in Proctors has benefited the entire County by spurring additional investment including the Bowtie Cinema, Parker Inn, Hampton Inn, Aperitivo, Bombers Burritos, Clinton Square, Paul Mitchell The School, and the soon to be completed new City Center.

Watch this news story from Capital News Nine and hear more about this sucessful investment.