Economic Development Week in Review: April 8-12, 2019
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CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Core Tech Industrial Corp. received preliminary approval for $419,000 in tax breaks Monday as the company prepares to expand for the second time in less than three years.
The Saratoga County Industrial Development Agency approved property, sales and mortgage tax incentives to help offset the cost of Core Tech’s proposed 30,000-square-foot expansion in Ballston.”
“The owner of the Port of Coeymans is continuing to expand near the state Thruway, thanks to a land rezoning done last year by the village of Ravena.
After convincing the village to rezone 66 acres from residential to industrial use, port owner Carver Laraway then got village planners to approve using the land to expand his 125-acre port’s industrial park.”
“Fingerpaint is about to invest $1 million renovating its headquarters in downtown Saratoga Springs, less than a year after founder Ed Mitzen spent $9 million to buy the building.
“We are reinvesting in the company to continue to fuel our growth,” said Bill McEllen, a partner at Fingerpaint, who oversees operations in Saratoga Springs.”
“The Capital District Transportation Authority has been awarded the necessary federal funding to construct and launch its new Blue Line bus rapid transit route connecting downtown Albany, Troy and Waterford along the Hudson River.
The U.S. Department of Transportation announced a Capital Investment Grant of $26.9 million on Tuesday afternoon. The BRT corridor is the second of three planned by the CDTA. Its corridor connecting downtown Albany and Schenectady began operating eight years ago along Route 5 and is identified variously as Bus Plus and the Red line.”
“Local developer Aaron Flach is looking to do a major overhaul of a big portion of downtown Coxsackie, bringing an event center, hotel and other businesses to South River Street.
Flach presented his proposal to the Coxsackie Village Board at its April meeting Monday, requesting a letter of support for the South River Street Redevelopment Project.
“GlobalFoundries could hire up 40 or more candidates for its technician training program in Malta over the next few weeks.
The computer chip manufacturer is on a mission to expand its pipeline of mechanically-inclined workers to help clean, operate and repair equipment at its $15 billion factory in Saratoga County. GlobalFoundries has a goal of hiring 100 entry-level technicians this year.”
“SUNY Polytechnic Institute plans to offer specialized course options to GlobalFoundries employees through a new partnership.
GlobalFoundries employees, some of whom work 12-hour or night shifts, will have the option to enroll in classes that better fit their schedules and will have more online courses to choose from.”
“As the Troy Waterfront Farmers’ Market enters its 20th season, the organization is in early talks with developer David Bryce to establish a year-round, indoor home for the market in a retrofitted Troy Atrium.
“Right now, we are learning more about David Bryce’s vision for the Atrium, and we are thinking about how a market place in the building would work,” said Zack Metzger, president of the Troy Waterfront Farmers’ Market, in a news release. ‘The programming opportunities we have discussed so far would be a major improvement to our market, allowing vendors to have a physical presence in downtown Troy during the week. This would be a great addition to our Saturday market in the winter and would complement, but not replace, our successful outdoor market during the summer and fall.’”