CEG Economic Development Week in Review June 22 – June 26, 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:
CEG IN THE NEWS
Albany Business Review: Kevin Leyden, Ken Colloton build La Salle Institute leadership program
REGIONAL ECONOMIC DEVELOPMENT NEWS
Velan Studios founders to partner on One Monument Square in Troy
“Karthik and Guha Bala have spent many years building video games in Troy — now they want to build a piece of the city itself.
The two brothers, founders of the game company Velan Studios, are teaming up with Luizzi Cos. on a plan to redevelop the One Monument Square site downtown.”
Urban Co-Works to add space in Schenectady
“Urban Co-Works is growing again in Schenectady.
The firm has agreed to lease an additional 1,859 square feet at 430 Franklin St. across from city hall, next to the Jay Street Marketplace, a pedestrian mall downtown.”
Danfoss planning 300 jobs at NY Creates site in Oneida County
“Danfoss Power Solutions, a Danish company that specializes in hydraulic technologies, is adding 300 jobs at the Marcy Nanocenter, a tech park in Oneida County owned by NY Creates, the entity that operates Albany NanoTech.
An affiliated company, Semikron Danfoss, previously had a presence at the Marcy Nanocenter, where it made power modules used in electric cars. But the company shut down its operations there last year as part of a larger consolidation of operations. The move was due to the federal government’s move away from supporting electric vehicle technologies and their infrastructure.”
Capital Region Aquatic Center cost cut to $105.3 million
“A smaller, less expensive aquatic center won the support of the Schenectady County Legislature on Monday, but the process isn’t over and the approval comes with a major caveat.
The revised plans call for a 89,400-square-foot downtown facility costing $105.3 million instead of the $125 million, 146,825-square-foot aquatic center that was put on hold in April due to pushback over the cost estimate.”
Consigli, Wainschaf involved with $2B Regeneron Saratoga project
“At least three major contractors with offices in the Capital Region are involved with drugmaker Regeneron Pharmaceuticals Inc.’s $2 billion expansion in Saratoga Springs.
Massachusetts-based Consigli Construction Co., which has an office in Latham, as well as Wainschaf Associates of Rensselaer and Munter Enterprises of Middle Grove “are all involved with the Saratoga site project,” a spokesperson for the Tarrytown-based pharmaceutical company said in a statement, declining further comment.”
