New York State is witnessing significant advancements in the AI sector, demonstrated through two major expansion projects. Rogo, an AI fintech company based in New York City, is enhancing its headquarters, while Danfoss is setting up a new facility in the Mohawk Valley for producing liquid cooling components for data centers. These developments underscore the critical role that artificial intelligence is playing in both digital and industrial domains, facilitating growth in software, advanced manufacturing, and infrastructure.
Rogo’s Expansion in New York City
Rogo is set to generate over 400 new jobs and invest close to $14 million in its headquarters, alongside approximately $40 million in research and development efforts. The company, which has already expanded its office space at 360 Park Avenue South to over 46,000 square feet, currently employs over 120 people and plans to create 422 new full-time roles spanning engineering, product development, sales, operations, finance, and legal departments.
Rogo, founded in New York City, specializes in developing AI tools for financial institutions, including investment banks and asset managers. Its platform aids finance professionals in automating research, financial modeling, and document creation through AI-driven analysis.
Gabe Stengel, the CEO and Co-Founder of Rogo, remarked, “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.”
Hope Knight, President, CEO, and Commissioner of Empire State Development (ESD), stated, “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.”
In support of this project, ESD has offered up to $6.5 million in performance-based Excelsior Jobs Program tax credits.
Danfoss’ New Operations in the Mohawk Valley
Danfoss Power Solutions is establishing a new operation in Marcy, Upstate New York. The company will utilize the existing Computer Chip Commercialization Center (Quad-C) at the Marcy Nanocenter, owned by the New York Center for Research, Economic Advancement, Technology, Engineering, and Science (NY Creates). The Marcy Nanocenter serves as a site for semiconductor fabrication and high-tech R&D.
After winding down its previous operations in Marcy in 2025, Danfoss plans to establish a high-growth division there, expanding its U.S. manufacturing and warehouse operations for data center liquid cooling systems. The company aims to create up to 300 new jobs in the region by 2027.
The facility at the Marcy site is equipped with cleanroom production capabilities and flexible warehouse space, allowing for immediate production needs and future growth. Operations are scheduled to begin in phases, with a startup targeted for August 2026, subject to facility readiness, and will scale up through 2027.
Peter Bleday, Vice President of the Data Center business unit at Danfoss Power Solutions, commented, “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. 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.”
NY Creates President & CEO Dave Anderson added, “Danfoss Power Solutions’ expansion in Utica underscores the Mohawk Valley and New York State’s continued momentum as a destination for advanced manufacturing investment. 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.”
Original Story at businessfacilities.com