May 22 2020

Week in Review: May 18 – 22, 2020

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:


Spectrum News: Bill Would Create WPA-Style Program for New York


The Capital Region reopens today. Here’s what businesses need to know

“Businesses in the Capital Region can begin opening Wednesday now that the region has met the last metric for phase one of reopening, Gov. Andrew Cuomo said on Tuesday.

What does reopening mean exactly for the Capital Region?”

Warren County Tourism Businesses Form A Commission To Plan Economic Recovery

“The Warren County Lodging Association, local Chambers of Commerce and the Lake George Regional Convention & Visitors Bureau, in conjunction with Warren County Tourism Department and government officials, have established a commission to develop specific guidelines and best practices for safely reopening businesses in the county.

Officials said the goal of the commission is to ensure the opening of businesses in the Lake George area safely, responsibly and with the health and well-being of the entire community, guests, and team members at the forefront.”

Capital Region sees first signs of a reopening economy

“Construction workers – and an increased number of retail clerks – were the clearest signs Wednesday that the reopening of the Capital Region economy was under way.

Contractors were smoothing concrete in front of the Vicina apartment project on Fourth Street in Troy, while a short distance away, workers in bucket lifts were finishing the facade of the latest Starbuck Island apartment building in Green Island.

Port of Albany picks four contractors to build 60,000-square-foot warehouse

“The Port of Albany awarded $6.5 million in contracts Wednesday for the construction of a 60,000-square-foot warehouse to handle surging demand for woodpulp and other materials.

MLB Construction Services was selected as the general contractor for the project. The port awarded MLB a $5.43 million contract after the Malta firm submitted the low bid out of four proposals.”

$56 million Ayco headquarters among construction projects that would resume

“The $56 million new headquarters for financial services firm Ayco in Latham will be among the largest projects that will resume in the Capital Region when “nonessential” construction is allowed under the state’s phased reopening plan.

Interior work was halted in mid-March on the 150,000-square-foot building developed by The Galesi Group off Columbia Street Extension near Route 9.”

Cuomo: New York to launch $100M small business loan program

“New York is launching a $100 million small business loan program to help keep afloat businesses that have been ravaged financially by the mandated closures of non-essential work to stem the spread of coronavirus, Gov. Andrew M. Cuomo announced Friday.”

Where the Capital Region’s coronavirus job losses were greatest

“Thursday’s jobs report from the state Labor Department was the first to identify what job categories suffered the greatest losses in the five-county Capital Region metropolitan area during the Covid-19 pandemic.

Overall, the area saw a loss of 74,300 jobs compared to April 2019. Labor analysts compare the same month from one year to the next to control for seasonal variations. The one-month loss, meanwhile, was nearly as great, at 72,600. Those numbers aren’t seasonally adjusted.”

Funding Partners