November 3 2017

CEG Economic Development Week in Review – October 30 – November 3, 2017


Stay up-to-date on business and economic development happenings in the Capital Region with the CEG Economic Development Week in Review. Don’t miss out on the developments that are transforming the region by following us on:


Business Review: 430 business leaders attend Center for Economic Growth dinner  

Times Union: SEEN: The Center For Economic Growth 30th Anniversary Celebration


New York Green Bank plans to raise $1 billion for clean-energy projects

“The New York Green Bank will raise at least $1 billion in private-sector money to provide more financing to clean energy projects.

The money will allow the bank to invest in projects outside of New York state. The bank plans to work with other states and philanthropies to create more green banks.”

Surgeon and architect plan to restore downtown Glens Falls building

“A New York City architect and an orthopedic surgeon from Connecticut are preparing to renovate a three-story building in downtown Glens Falls, New York.

Dr. Dan George and his cousin Joe Serrins of Joe Serrins Architecture Studio in Manhattan would be the latest developers to see opportunity in the Glens Falls real estate market.”

With first grads in queue, P-Tech serves as model for region’s high schools

“In May, a group of around 20 students will graduate from Fulton-Montgomery Community College. The following month they will graduate from high school.

‘Our kids are going to graduate from college and get diplomas before they finish high school,’ said Pat Michel, superintendent of the Hamilton-Fulton-Montgomery BOCES. ‘We had to do a lot of work with state ed, because that kind of blew their minds.’”

Electronics company expanding in Schenectady County

Communications Test Design Inc. confirmed Monday that it is expanding its Glenville, New York, electronics repair facility by leasing a second building and hiring an additional 37 employees.

The company, which is headquartered near Philadelphia, moved into the Glenville Business & Technology Park in 2014. Payroll has grown to more than 300 employees since then. CDTI repairs and rebuilds 75,000 types of electronic and telecommunications equipment including networking equipment and cable television boxes.”

Insurance agency opening office at Mohawk Harbor in Schenectady

Haylor, Freyer & Coon Inc., an insurance and risk management agency, will open its eastern New York regional office at Mohawk Harbor in Schenectady, New York.

The office will open in mid-December at Two Harbor Center, a 65,000-square-foot-plus mixed-use building at Mohawk Harbor.” 

Granite countertop manufacturer expanding in Saratoga County

“Mike and Margaret Roohan are expanding Granite & Marble Works Inc. in Wilton, New York, adding more space for manufacturing and polishing stone countertops, vanities and fireplaces.

The couple employs 25 craftsmen and installers who use granite, marble and onyx shipped from quarries in Brazil and Italy.”

Momentive increases capacity in Saratoga County

“Momentive Performance Materials has installed a new extruding machine and packaging line in Waterford, New York, increasing capacity for producing sealants and roof coatings.

CEO Jack Boss on Tuesday confirmed Momentive’s investments in its Saratoga County plant, part of the $129 million in capital improvements that company made globally over the past nine months. Momentive expects to spend another $31 million by the end of the year.”

East Greenbush sees economic boost in proposed Columbia Turnpike training site

“$15.5 million project to renovate a former Kmart store into a training facility could play a major role in stimulating business along the Columbia Turnpike business corridor, town officials said.

“We want the Kmart site developed. We want to get Columbia Turnpike moving,” Supervisor Jack Conway said.”

Schenectady christens new Mohawk Harbor marina

“State and local officials on Wednesday christened the new marina at Mohawk Harbor, the $480 million mixed-use development on the Mohawk River.
The marina features 50 boat slips, an amphitheater and kayak launch.

The marina is a gateway to Schenectady’s new hotels, Rivers Casino & Resort and restaurants.”

New manufacturing plant would triple production for nutrient mix maker

“Freddy Luna is preparing to invest $1.2 million to construct a new manufacturing plant for Vida-Blend LLC, positioning the company to make more nutrient and vitamin mixes used in everything from baby food and pancakes to energy drinks.

Vida-Blend of Amsterdam, New York, plans to build a 14,000-square-foot plant in the Florida Business Park Extension in nearby Florida, New York. The expansion would include the purchase of $270,000 in equipment and $740,000 in construction costs. Another $190,000 would cover engineering costs.”

Albany port inks pact with marine services provider

“The Albany Port District Commission signed a new 10-year agreement with Federal Marine Terminals to provide longshore and other cargo handling services at the port. FMT has provided such services for the past 11 years, and the new contract, with three five-year renewal options, could see it operate there for another quarter century, port officials said.

Montreal-based FMT provides services to a dozen ports, nine in the United States, said Michel Tosini, the company’s executive vice president.”

How GE wants to hire 20,000 women in STEM jobs by 2020

“When Megan Seel joined General Electric from Rensselaer Polytechnic Institute, she went from being one of a few women in a room of 200, to working on a team that was led by strong women managers.

Seel, an IT integration program manager for GE Power, has paid that forward by promoting female managers, and serving as a mentor to young women at GE.”

Funding Partners