ALBANY, N.Y. (NEWS10) — Renovations have been completed at the Port of Albany. A ribbon cutting was held Wednesday to celebrate a project to revitalize the port’s oldest maritime shed, which officials had previously planned to destroy.

Instead, they renovated it. Space was added for cargo ships and customer activity. Officials said it will help boost the local economy.

“With a new, modern facility, the shed offers enhanced temporary storage for goods moving in and out of the port,” Janet Ho, NYSDOT Asst. Commissioner for Finance and Integrated Modal Services, said. “It builds capacity for commerce, and it keeps it here in the Capital Region.”

The port is currently undergoing additional upgrades and expansion worth about $750 million.