Two recently announced expansion projects highlight the growing reach of the AI economy across New York State. Rogo, a New York City-based AI fintech firm is growing its headquarters there, and Danfoss will establish a site in the Mohawk Valley to produce liquid cooling components for data centers. Together, the investments reflect how artificial intelligence is driving growth across both digital and industrial sectors, creating new opportunities in software, advanced manufacturing, and critical infrastructure.
In New York City, Rogo plans to creating more than 400 new jobs, undertaking approximately $40 million in R&D activities and investing close to $14 million in its headquarters. The company already employs more than 120 people in New York City and has expanded into additional office space at its headquarters at 360 Park Avenue South to accommodate future growth in over 46,000 square feet of space. The project is expected to create 422 new full-time jobs across engineering, product development, sales, operations, finance, legal and other business functions.
Founded and headquartered in New York City, Rogo develops AI tools designed specifically for financial institutions, including investment banks, private equity firms and asset managers. The company’s platform helps finance professionals automate research, financial modeling, document creation and other complex workflows through AI-powered analysis and automation.
New York City skyline (Photo: Adobe Stock/Dell)
Rogo CEO and Co-Founder Gabe Stengel said, “New York is where global finance and AI innovation come together, which makes it the natural home for Rogo to grow. As the world’s financial capital, the city gives us unmatched proximity to the institutions we serve and the talent building the future of AI — and this expansion lets us deepen our investment in both. We’re proud to have planted our roots in New York and to help lead the AI ecosystem taking shape here.”
Empire State Development (ESD) President, CEO and Commissioner Hope Knight said, “New York sits at the intersection of finance and artificial intelligence, making it the ideal place for companies like Rogo to grow. By expanding its headquarters and creating hundreds of high-quality jobs, Rogo is strengthening New York City’s position as a global hub for innovation while helping drive the next wave of AI-powered growth in the financial services industry.”
ESD has offered up to $6.5 million in performance-based Excelsior Jobs Program tax credits in support of the project.
In Mohawk Valley, Danfoss Will Produce Data Center Liquid Cooling Systems
In Upstate New York, Danfoss Power Solutions, a global manufacturer of fluid conveyance and hydraulic systems, will establish new operations in the town of Marcy. The company will move into the existing Computer Chip Commercialization Center (Quad-C) facility owned by the New York Center for Research, Economic Advancement, Technology, Engineering, and Science (NY Creates), located at the Marcy Nanocenter. NY Creates was founded in 2018 as a nonprofit entity to serve as a unified organization for managing the state’s high-tech assets, including the Albany Nanotech Complex. Operated by NY Creates and located at the SUNY Polytechnic Institute, the Marcy Nanocenter is a 434-acre campus serving as a site for semiconductor fabrication and high-tech R&D.
Marcy Nanocenter (Photo: NY Creates)
While Danfoss wound down its previous operations at its Marcy site in 2025, the company will now operate its facility there to a new, high-growth division — expanding its U.S. manufacturing and warehouse operations for the production of couplings, hoses, and fittings for data center liquid cooling systems. The company plans to bring up to 300 new jobs bringing up to the region by the end of 2027.
The existing facility includes cleanroom production capabilities and flexible warehouse space. With room for future expansion, the facility can support both immediate production needs and long-term growth. Operations are expected to begin in phases, with startup targeted for August 2026, pending facility readiness. Danfoss will scale up production throughout 2026 and into 2027.
“Establishing operations in Marcy will help us increase capacity, serve customers more efficiently, and support a rapidly growing market fueled by artificial intelligence and cloud infrastructure,” said Peter Bleday, Vice President, Data Center business unit, Danfoss Power Solutions. “The Mohawk Valley is a logical place to expand our data center business. It offers a compelling combination of talent, infrastructure, and strategic access that supports our ambitious growth plans.”
“Danfoss Power Solutions’ expansion in Utica underscores the Mohawk Valley and New York State’s continued momentum as a destination for advanced manufacturing investment,” said NY Creates President & CEO Dave Anderson. “With a skilled workforce, modern infrastructure, and strong regional supply chain, this new operation reflects the kind of innovation-driven growth we are proud to support.”