New York's Largest Business Incubator Opens in Downtown Syracuse

CenterState CEO celebrated the opening of its 90,000-square-foot, $32 million INSPYRE Innovation Hub project with public and private sector partners.

Facility Serves as Symbol of Region's Revival

Pictures and Videos of INSPYRE Innovation Hub Available Here

SYRACUSE, N.Y., Sept. 22, 2025 /PRNewswire/ -- INSPYRE Innovation Hub by CenterState CEO marked its official opening in downtown Syracuse on Sept. 18. The multi-story facility, formerly known as The Tech Garden, is the largest business incubator in New York state and among the top five in the country. The project includes a two-story addition, a new 5,000-square-foot roof terrace accessible to clients, offices for 35 additional resident startups, state-of-the-art coworking areas, an expanded hardware space for prototype and product development, and a new entrance. INSPYRE celebrates Syracuse's legacy of innovation and is a beacon to its bold future.

INSPYRE sits on what was a collapsed parking garage. At the time regional leaders proposed building a business incubator on the site in 2004, Central New York ranked 112 out of 134 metropolitan areas in fostering the start-up and growth of new companies according to the Essential NY Initiative. On average there was just $5.44 per capita in venture capital inflow to the Syracuse MSA from 2006 to 2014. That number jumped to $429.57 between 2015 and 2023. Additionally, there were only six venture capital deals in the Syracuse MSA from 2006 to 2011. Between 2018 and 2023, there were 161.

This progress follows years of collaborative efforts to revive the region's economy. Today, Central New York is experiencing momentum not seen in a generation. Semiconductor manufacturer Micron Technology has selected the region for a $100 billion expansion project. Syracuse is a part of a consortium of partners that make up the NY-SMART I-Corridor, one of just 12 federally funded Tech Hubs in the country. Syracuse is the home of the world's largest accelerator for uncrewed aerial systems (UAS), GENIUS NY. And it now has one of the largest business incubators in the country. As the region faces this exciting period of growth and opportunity, it's imperative the space that serves as Syracuse's center of innovation is one ready to meet the needs of the entire community.

Ben Sio, acting president of CenterState CEO, 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."

"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," New York Governor Kathy 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."

This expansion literally and figuratively builds on the legacy of innovation and entrepreneurial programming CenterState CEO has created over the last two decades. INSPYRE Innovation Hub takes strategies from across CenterState CEO's teams to create dynamic and effective programming informed by the diverse needs of entrepreneurs. Whether it's an entrepreneur looking for support, a startup testing industry-disrupting technology or a large regional employer looking for intrapreneurship opportunities, INSPYRE Innovation Hub will have the people and the resources businesses need to find success.

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.

The $32 million INSPYRE Innovation Hub project was supported by many public and private sector partners. Empire State Development provided $16.6 million for the project through the region's CNY Rising Upstate Revitalization Initiative. Private sector support includes investments from M&T Bank, National Grid, Broadview Federal Credit Union, Community Bank, Northland Communications and more.

View a full list of INSPYRE's current sponsors.

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

Media Contact: Katie Zilcosky, [email protected]

About CenterState CEO

CenterState CEO is an independent nonprofit committed to creating inclusive, equitable and sustainable economic growth in Central New York. Its team of experts helps members, clients and businesses of all sizes start, scale, recruit and relocate. CenterState CEO works as a problem solver alongside partners in public, private and nonprofit sectors to find collaborative and innovative solutions to advance the region and its people. Learn more at www.centerstateceo.com.

SOURCE CenterState CEO