GE campus is a true landmark and the main reason why Schenectady is called the "Electric City". Founded in 1892, it employed 45000 people at the time of the second World War, and, to this day, has major presence in the area. Home to Union College, Schenectady's downtown is being revived with plans to expand Proctors Theatre, to build a new cinema, a new hotel, and a variety of restaurants. A vibrant incubator and accelerator, NYBizLab, recently opened on State Street. Future plans include accommodating the expansion of major technology companies -- Transfinder and Quirky.
Recently opened on the former site of the American Locomotive Company is the River Casino and Resort at Mohawk Harbor, a mixed-use project that includes a hotel, a marina, and a residential housing development in addition to the casino.