CEG Economic Development Week in Review August 24 – August 28, 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

Upgrades to Port of Albany’s wharf underway

“Work to upgrade and strengthen the marine terminal deck off Smith Road on the Albany side of the Port of Albany-Rensselaer is underway, part of a broad upgrade program at the port costing more than $100 million.

The project also includes upgrades to the on-dock rail spur at the Port of Albany and strengthens the wharf deck infrastructure.”

Planned redevelopment of Schenectady Masonic temple gets boost

“The redevelopment of a prominent corner in downtown Schenectady is getting a $1 million boost from New York state.

Lightwell Development’s plans to convert a former Masonic temple at the corner of State Street and Erie Boulevard into more than two dozen residential units has won the funding through Empire State Development’s county infrastructure grant program, Gov. Kathy Hochul’s office said.”

New York looks to level up its video game production

“This fall, a New York studio is expected to have the largest media release perhaps in the history of entertainment, with billions of dollars in projected sales. But it isn’t the release of a blockbuster film, a hit television series or a Broadway musical.

It’s the scheduled release of “Grand Theft Auto VI”, the latest installment of the popular video game series created by Rockstar Games, whose headquarters are located in New York City (as is the headquarters of its parent company, Take-Two Interactive). The release emphasizes both the economic and cultural powerhouse video games now represent — and the need for the state to try to bring more of the industry to New York.”

Rensselaer Polytechnic Institute receives $27M gift from Doug Mercer

“Rensselaer Polytechnic Institute has received a $27 million donation from an alumnus that will support its department of electrical, computer and systems engineering.

Doug Mercer, who graduated from RPI with a degree in electrical engineering in 1977, made the contribution this summer.”

TerraForm Power establishing Schenectady office

“A renewable energy company is setting up an office in Schenectady, one of several power-sector firms to establish a location in the city in recent years.

TerraForm Power, which manages a portfolio of more than 2 gigawatts of solar, wind and energy storage assets across North America, has leased 5,000 square feet of space at the former Trustco Bank headquarters in downtown Schenectady.”