CEG Economic Development Week in Review August 18 – August 22, 2025
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:
CEG IN THE NEWS
WTEN News 10: New York’s Capital Region sees surge in young adult population
WNYT News 13: Center for Economic Growth hosts events to prepare young people for workforce
REGIONAL ECONOMIC DEVELOPMENT NEWS
Bear’s Cup Bakehouse plans new location in Saratoga Springs – Albany Business Review
“The popular Bear’s Cup Bakehouse in Bolton Landing is planning another location, this time in Saratoga Springs.
The company filed an application for architectural/historic review with the city’s design review board for exterior signage at 543 Broadway downtown. The location is near the intersection with Van Dam Street, across from the Saratoga Hilton.”
GE Vernova to invest $41M at Schenectady facility
“GE Vernova will invest $41 million in its Schenectady facility to bolster production of its gas-power equipment.
The manufacturer (NYSE: GEV) expects to add 50 jobs as part of the investment, it said in an announcement Tuesday morning. The state of New York has pledged $1 million for the project through a tax-credit program administered by Empire State Development.”
First Columbia plans 9-story office building in downtown Albany
“A nine-story office building with a restaurant, a four-story mixed-use building and an urban plaza would be built in downtown Albany next to the Hyatt Place hotel under plans being pursued by a local developer.
First Columbia LLC of Latham wants to construct the development on a vacant lot at 705 Broadway across from the Leo W. O’Brien Federal Building in what would be the first new Class A offices downtown in 20 years.”
VDO Gaming opens esports facility in Albany area
“It’s game on for a new esports facility in Menands.
VDO Gaming and eSports Education opened at 100 Broadway in Menands earlier this year. The company has 25 high-end gaming computers as well as multiple Nintendo Switches, Xboxes and Play Stations on site.”
Albany Capital Center expansion project to begin
“The $54 million-plus expansion of the convention center in downtown Albany will start in earnest in September now that the complex financing agreement has been finalized and the land purchased.
The project, which could be completed by March 2027, will add meeting, ballroom and pre-function areas, boosting the total rentable space at the Albany Capital Center to 85,000 square feet.”
Greene County awarded $400K grant for Cementon study
“Greene County was awarded a sizable state grant to help commission a study on how to develop about 4,000 acres of land in a southern Catskill hamlet.
The county received a $400,000 Focused Attraction of Shovel-Ready Tracts New York grant (FAST NY) to commission a study on the best use of four parcels of land amounting to amounting to about 4,000 acres in Cementon. Each parcel is owned by a separate owner.”
