CEG Economic Development Week in Review June 29 – July 3, 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
GlobalFoundries making more chips designed for spacecraft, satellites
REGIONAL ECONOMIC DEVELOPMENT NEWS
Planners update on Cementon Redevelopment Project
“Years from now, Greene County’s southern riverfront could look very different.
Once a lively hamlet, Cementon sits in the shadow of a massive ramshackle cement plant that was the center of its economy for decades. Now, county officials are eyeing the community for future redevelopment and in the process of conducting an environmental review.”
Former Save-A-Lot warehouse sells for $43 million
“Driscoll Foods, one of the largest independent foodservice distributors in the Northeast, has acquired the former Save-A-Lot distribution center for $43 million.
The sale was announced Thursday by commercial real estate company JLL that represented seller Winstanley Enterprises.”
IBM develops world’s first sub-1-nanometer chip in Albany
“Technology giant IBM said Thursday that it’s reached a major semiconductor milestone — one developed by its researchers at the Albany NanoTech Complex.
The company said it has developed the world’s first sub-1-nanometer computer chip, onto which it can fit nearly 100 billion transistors by stacking the components. The technology will result in significant performance and energy-efficiency gains, IBM said.”
Regional Leaders Discuss Development And The Multibillion-Dollar Lake George Economy
“The Lake George region boasts a thriving, multibillion-dollar economy, but sustaining that momentum requires tackling affordable housing shortages, navigating complex development regulations and expanding the year-round experiential economy. Lakes& Rivers
Gina Mintzer, executive director of the Lake George Regional Chamber and CVB, moderated the Spring Economic Outlook Breakfast at the Courtyard by Marriott Lake George on June 16. Themed “Where Tourism Meets Development,” the event featured a panel of finance, real estate and economic experts who provided key insights into the region’s fiscal health.”
Whalen’s Horseradish Products Plans Wholesale and Private Label Expansion
“’Things are about to get hotter in Texas,’ said Tim Bibens, owner of Whalen’s Horseradish Products, the iconic, local specialty food company now in its 101st year. Condiments& Dressings
In a first for the company, 10 Central Market grocery stores in the Dallas, Houston, Austin and San Antonio areas began stocking Whalen’s brand of handcrafted horseradish condiments in their refrigerator sections at the beginning of June.”
Parillo’s Sausage In The Process Of Significant Growth Under Leadership Of Third Generationl
“’Three generations of flavor, tradition, and heart.’
For Marisa Parillo Rahman, this tagline encapsulates everything she loves about the family-owned Saratoga Springs company she has been running since November 2024, after her father, Marc Parillo, died.”
Bucks County Biscotti Expands Wholesale And Online Sales From Queensbury
“Riley Silbert learned the economics of his parents’ baked goods business at a young age.
He could keep the profits from cookies they made by selling them at a farmers market, but first he had to purchase them.”
New $1.7B Wadsworth Center in Albany under construction
“As he walked in the rain last week outside the future home of the New York state public health lab, the health department’s commissioner, Dr. James McDonald, saw beyond the steel beams that form part of the building’s skeleton.
He saw scientists tracking infectious diseases to stop dangerous outbreaks, researchers studying antimicrobial resistance, and lab technicians testing the blood of all of the roughly 200,000 babies born in the state annually to screen for rare disorders.”
