Officials and area leaders officially opened the City Center Building in downtown Syracuse Wednesday, culminating a $40 million project that upgraded the Sibley’s Department Store building into a mixed-use facility.

"Transformational projects like City Center are catalyzing the redevelopment of vacant properties, continuing the ongoing renaissance happening in downtown Syracuse,” Onondaga County Executive Ryan McMahon said in a statement.

The building will be a hub for business, theatre and retail, and will create more jobs and entertainment options, said state Sen. Rachel May.

The 240,000-square foot facility on South Salina and West Jefferson Streets includes Hayner Hoyt Corporation, Huntington Ingalls Industries, CXtec/TERACAI and Tompkins Community Bank, while the Redhouse Arts Center — a partial building owner — is also on-site.

"The new City Center Building marks the start of a new, exciting, and prosperous chapter in downtown Syracuse,” Gov. Kathy Hochul said in a statement.

The building’s upgrades were a result of the Central New York Regional Economic Development Council, the Downtown Revitalization Initiative, and capital funding, tax incentives and other benefits provided by Empire State Development. New York state, through Empire State Development, provided $4 million to support the project.

“Projects like this one also serve to boost the local economy, creating a positive outlook for residents, visitors and businesses. These types of investments are not only transforming Syracuse but are adding to the overall vitality of the entire region,” McMahon said.