Week in Review: June 17 – June 21, 2019
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CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“he Capital District Transportation Committee recently approved a 5-year capital program known as the Transportation Improvement Program.
As the Metropolitan Planning Organization for Albany, Rensselaer, Saratoga, and Schenectady Counties, officials said the CDTC is a forum for local elected officials and transportation representatives to share ideas and make decisions about major transportation capital investments, and regional transportation planning.”
“Sheetlabels, a company that prints pressure sensitive custom labels, has relocated from Pruyns Island Drive in Glens Falls to 24 Native Drive in Queensbury.
The 30,000-square-foot building it now occupies was formerly Native Textiles. The company’s new location has provided them with an additional 10,000 square feet of space.”
“Natascha Pearl-Mansman is finishing her first year in business as Darling Doughnuts, and is pleased with the popularity of her company.
‘I’ve always had an entrepreneurial spirit, but it wasn’t until after the birth of my daughter that I took the leap and started my own business,’ said Pearl-Mansman. ‘I suppose I spent too much time watching baking competitions on TV while I was up at all hours of the day and night with a newborn. I’d sit there and wonder how all these people were lucky enough to be doing that for a living. I realized you can’t sit around and wait for the perfect time to start something, that you have to just get up and go for it.’”
“Bake for You, a custom bakery that recently moved from Albany to bigger space at The Hamlet apartments in Slingerlands was aided by a $50,000 microloan from the Excelsior Growth Fund, a New York City nonprofit small business lender that has an office in Albany.
Bake for You owner Linda Kindlon is holding a ribbon-cutting on Thursday at 4 p.m. at her new location at 5000 Dunhill Court, off New Scotland Road.”
“Although the vast majority of Capital Region businesses have been in hiring mode through the first six months of the year due to the robust economy, the volatile political environment is causing some companies to think twice about their hiring plans for the rest of 2019, according to the latest Alaant Hiring Index.
The survey, compiled by Alaant Workforce Solutions in Colonie, found that 69 percent of employers increased their hiring activity over the past six months.”
“A parking lot in downtown Albany could become a $25.5 million, six-story building with 82 apartments and ground-floor retail — the latest mixed-use development near the Palace Theatre.
The owners of 745 Broadway are seeking approval from the city planning board to build the residential/commercial development in an area the city has dubbed Clinton Square.”
“The Rosenblum Cos. is going to break ground Thursday morning on its $18 million, mixed-use building at Congress and Fourth streets that has already generated a lot of excitement in the city.
Company officials also promise to unveil the name for the five-story building, which is being touted as a future commercial gateway for the city that will connect downtown to Little Italy and the Pottery District.”
“Plans to transform a senior center and former Masonic temple in downtown Troy into an artificial intelligence center were delayed last week when the Rensselaer County agency that controls the property rejected the only bid for the building.
The Rensselaer County Capital Resource Corporation, a subsidiary of the Rensselaer County IDA, took over ownership of the property at 19 Third St. from the county last year in order to make it easier to sell. It posted the building for sale with a list of requirements intended to steer the property toward a buyer that would bring tech jobs.”
“”ast fall, Matt Scarchilli was at the New York BizLab in Schenectady watching a talk by Mike Saccocio, executive director of the City Mission of Schenectady.
Like many who hear Saccocio speak about the City Mission and how it helps pull people out of poverty and cycles of addiction, Scarchilli, the CEO of Sandler Training, left inspired.”
“Amazon’s plans to build a $100 million distribution center in Schodack took a major leap forward after the developer of the project acquired the nearly 120 acres needed for massive 1-million-square-foot facility for $3.1 million.
The sale of the two vacant parcels to Scannell Properties of Indianapolis took place June 13, according to property records.”
“Flomatic Corp. in Glens Falls is holding a grand opening and ribbon cutting on Friday for its newly expanded headquarters and manufacturing facility in the city. The company makes water valves.
The event is taking place at 12:30 p.m. Friday at its building at 15 Pruyn’s Island Drive. State and local political officials are expected to attend.”
“Cadence Design Systems — a Silicon Valley company — will be providing multimillion-dollar design tools at a heavy discount for the new semiconductor design accelerator planned in Saratoga Springs.
It is one of the first industry partners to join the Electronic Design and Innovation Initiative – a year after Saratoga Economic Development Corp. announced plans to create the accelerator focused on design innovation in computer chips and electronic systems.”