CEG Economic Development Week in Review June 8 – June 12, 2026

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:

REGIONAL ECONOMIC DEVELOPMENT NEWS

GlobalFoundries chips being made to survive space

“When you’re waging war in space, you’d better hope that your computer chips can survive extreme conditions.

The conditions outside the safety of Earth’s atmosphere can be brutal, with dangerous levels of radiation and temperatures as low as minus 270 degrees Celsius in space.

Computer chips must be designed so they do not fail in harsh conditions since they often can’t be repaired or replaced once a spaceship or satellite is launched, according to GlobalFoundries.”

Fidens Brewing gets tax breaks for $13.6M Malta facility

“Fidens Brewing’s $13.6 million Malta project is closer to breaking ground in Malta after the company received tax breaks from the Saratoga County Industrial Development Agency.

The popular brewery, with a taproom in Albany, is planning to construct a new building in the Malta Commons development, just off Northway Exit 12, at 100 Saratoga Village Blvd. The planned site, located behind a Panera at the northern corner, is currently a parking lot.”

Luizzi Cos. to redevelop One Monument Square in Troy

“Commercial real estate developer Luizzi Cos. is the latest to take on what has been a fruitless, frustrating effort by others over the past 15 years: redevelop One Monument Square in downtown Troy.

Mayor Carmella Mantello announced Thursday night a plan that would see a mixed-use building with offices and apartments rise on the vacant riverfront parcel where city hall once stood.”

Kenwood data center plans could go to Albany within 2 months

“The owner of the former Kenwood Convent site in Albany says applications for a $570 million data center project on the historic site could be submitted to the city of Albany within the next two months.

In a story published Tuesday, the Albany Business Review reported that Michael-Henry Elghanian-Krayem, who owns the 76-acre property through a limited liability company called Guild Ventures, said he’s hoping to submit formal plans to the city within the next 60 days. The site has several zoning designations, none of which allow for a data center.