Troy is a city in the U.S. state of New York and the seat of Rensselaer County. The city is located on the western edge of Rensselaer County and on the eastern bank of the Hudson River. Troy has close ties to the nearby cities of Albany and Schenectady, forming a region popularly called the Capital District. The city is one of the three major centers for the Albany Metropolitan Statistical Area, which has a population of 1,170,483. At the 2010 census, the population of Troy was 50,129. Troy's motto is Ilium fuit. Troja est, which means "Ilium was, Troy is".Today, Troy is home to Rensselaer Polytechnic Institute, the oldest private engineering and technical university in the USA founded in 1824. Due to the confluence of major waterways and a geography that supported water power, the American industrial revolution took hold in this area making Troy reputedly the fourth wealthiest city in America around the turn of the 19th/20th century.