Governor Hochul Announces Official Opening of $32 Million 90,000 Square-foot Inspyre Innovation Hub in Downtown Syracuse

Governor Kathy Hochul today marked the official grand opening of the new INSPYRE Innovation Hub by CenterState CEO in downtown Syracuse. The multi-story facility, formerly known as The Tech Garden, is the largest business incubator in New York State. The project included a two-story addition to the existing building, renovations to the facility's existing space, updates to the on-site mechanical and security systems, a new 5,000-square-foot roof terrace accessible to clients, 3,000-square-foot meeting room private tenant offices for 35 additional resident startups, coworking areas, an expanded hardware space for prototype and product development and a new entrance. The expanded facility serves to anchor Syracuse's City Center Innovation Hub, a core component of the Syracuse Surge economic development strategy and will serve as the gateway to the "Innovation Alley" on Warren Street in Syracuse.

"CenterState CEO's new INSPYRE Innovation Hub is a critical part of our efforts to make Upstate New York the nation's next major hub for innovative, 21st century businesses," Governor Hochul said. "With this new state-of-the-art facility, CenterState CEO will be able to continue its important work to expand the innovation economy in Central New York and set promising, early-stage businesses on a path for success. My administration is committed to supporting projects that spark growth, empower businesses, entrepreneurs and boost the local economy."

INSPYRE program benefits include access to experts and other founders to meet the diverse needs of Central New York entrepreneurs across a range of industries, providing executive advisors, marketing and fundraising support and industry-focused events, as well as access to platforms such as PitchBook and unique funding opportunities.

INSPYRE will continue to be the central hub for the GENIUS NY program, the world's largest business accelerator for the uncrewed systems and robotics industry. Since 2017, GENIUS NY has invested nearly $24 million in 42 companies from around the world and the companies who have taken part have raised more than $350 million in follow-on funding and created hundreds of new jobs in New York state.

CenterState CEO Acting President Ben Sio said, "Central New York's entrepreneurs deserve a facility that enables them to realize their dreams. The INSPYRE Innovation Hub provides expanded resources, programming and amenities to do so. This space builds on CenterState CEO's years of successful entrepreneurial programming and makes it more accessible to the entire community. Working alongside other organizations in the region's entrepreneurial ecosystem, INSPYRE Innovation Hub will support innovators of all backgrounds and stages of business as they shape the future of the region. We thank Governor Hochul for her support of the INSPYRE Innovation Hub and commitment to the growth of Central New York."

Empire State Development is providing up to $16.6 million for the project through the regions' CNY Rising Upstate Revitalization Initiative. The total project cost was placed at $32 million.

The continued revitalization of downtown Syracuse is also a top priority of the Central New York Regional Economic Development Council, a public-private partnership made up of local experts and stakeholders from business, academia, local government and non-governmental organizations who are redefining the way the region invests in jobs and economic growth by putting in place a community-based, bottom-up approach to access available state resources. INSPYRE Innovation Hub supports major assets in downtown Syracuse like the Marriott Syracuse Downtown Hotel and Convention Center, while expanding the ability of the incubator to accept new clients and help businesses launch in the greater community.

Empire State Development President, CEO and Commissioner Hope Knight said, "The completion of the transformational INSPYRE Innovation Hub means that CenterState CEO can further its successful efforts to create an even more productive ecosystem for entrepreneurs, helping them to grow and develop their innovative business ideas. New York State is committed to the continued renaissance happening in downtown Syracuse, and this incredible new space will serve as an essential piece to those revitalization efforts."

State Senator Rachel May said, "The INSPYRE Innovation Hub is a significant milestone for Central New York, strengthening our reputation as a community that promotes creativity and entrepreneurship while also creating new jobs and boosting economic growth. I am proud that my office secured funding to help complete this project, and I thank Governor Hochul for her continued support of our local economy."

State Senator Chris Ryan said, "The INSPYRE Innovation Hub is more than just a building - it's an incubator for the future of Central New York's economy. By supporting entrepreneurs, growing start-ups, and fostering collaboration, this investment will strengthen our workforce, create new career pathways, and keep talent right here in our region. Projects like this ensure that Central New York remains competitive in the innovation economy and that our communities share in the opportunities it creates."

Assemblymember William B. Magnarelli said, "The opening of the INSPYRE Innovation Hub continues the revitalization of Downtown Syracuse, bringing the state-of-the-art business incubator and accelerator for unmanned aerial systems to Downtown, ensuring that entrepreneurs will have the space available to grow the companies of tomorrow here in Central New York. "

Assemblymember Pamela Hunter said, "The INSPYRE Innovation Hub represents the best of what we can accomplish when we invest in people, ideas, and the future of our region. By expanding opportunities for entrepreneurs and fostering collaboration across industries, this facility strengthens downtown Syracuse and helps ensure that Central New York remains a leader in innovation and economic growth. I'm proud to support this project and the promise it holds for our community."

Assemblymember Al Stirpe said, "As a former start-up business owner and Chair of Economic Development in the Assembly, I know firsthand how crucial it is to support innovation and give entrepreneurs the room they need to grow. The expansion of CenterState CEO's INSPYRE Innovation hub will build on this important work, creating the state's largest business accelerator and putting Central New York on the map. Startups looking for the best place to land their business will find it right here in CNY, gaining access to state-of-the-art resources, assets, and expertise to dream big and make it happen."

Onondaga County Executive Ryan McMahon said, "The project is a game-changer. The INSPYRE Innovation Hub serves as a visible reminder of the momentum underway not only in Central New York, but in downtown Syracuse proper. This multi-million-dollar investment enables this already successful incubator to provide more opportunity and an even greater user experience for forward-thinking entrepreneurs who are looking to grow their business in the region. I want to thank the Governor, as well as all our partners, for supporting our continued commitment to revitalizing and enhancing the downtown experience for workers and residents alike."

Syracuse Mayor Ben Walsh said, "I'm proud to see the INSPYRE Innovation Hub in downtown Syracuse as the epicenter of growth and opportunity in the region. The largest business incubator in New York, the hub represents a major investment in innovation and talent attraction and retention in our area. This 90,000 square-foot facility is a part of our Syracuse Surge strategy for inclusive growth in the New Economy and will enable our partners at CenterState CEO to continue transformational programming for entrepreneurs and businesses of various size, stage, age, industry, and background. Thank you to New York State and all our partners for making Syracuse the place where entrepreneurs can push the boundaries of Y."

Central New York Regional Economic Development Council Co-Chairs Randy Wolken, President & CEO of MACNY, The Manufacturers Association, and Le Moyne College President Linda M. LeMura said, "We would like to thank Governor Hochul for her continued efforts to help us in realizing our focused vision for the region. The INSPYRE Innovation Hub reinforces that vision by supporting a world-class innovation ecosystem, fostering entrepreneurship, driving economic development and helping Central New York to continue to rise."

For more information about the INSPYRE Innovation Hub, visit: https://inspyrehub.com/.

For more information about CenterState CEO, visit: https://centerstateceo.com/.

Accelerating Economic Development in Central NY

Today's announcement complements "CNY Rising" the region's comprehensive strategy to generate robust economic growth and community development. The regionally designed plan focuses on capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. More information is available here.

About Empire State Development

Empire State Development is New York's chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state's 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state's world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.

Contact the Governor's Press Office