Rensselaer County received some positive financial news toward the end of April with the announcement the county’s bond rating was being upgraded from an already strong position.
The upgrade to an AA bond rating follows a review of county finances and obligations by the respected fiscal analysts Standard and Poor’s.
County Executive Kathleen Jimino noted the work done by her administration in holding down costs while state and federal mandates remain at record-high levels. As Chair of the Legislature, I am proud of the work done by county lawmakers in helping maintain a solid fiscal base during a prolonged and difficult economic recession.
Rensselaer County is also one of a handful of municipalities to stay under the state tax cap since the tax cap was implemented three years ago. The upgrade in the bond rating will help the county attract new investment and job growth, along with demonstrating the effectiveness of the county’s financial management.
The county has seen success with the expansion of Regeneron in East Greenbush, creating 300 new jobs, and the planned revitalization of the former Fort Orange Paper Company in Castleton. The upgrade and attention to fiscal responsibility puts the county in position for future success.