May 3 2024

CEG Economic Development Week in Review April 29 – May 3, 2024

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:



WNYT New 13: Employment in tech sector surges in Capital Region

Troy Record: Center for Economic Growth: The Capital Region’s best kept secret

Saratogian: Center for Economic Growth: The Capital Region’s best kept secret



Rushdown Studios takes downtown Saratoga Springs office space

“Rushdown Studios has moved into a new office in downtown Saratoga Springs — its first after the founding of the company during the pandemic era of remote work.

Rushdown now occupies about 3,000 square feet at 19 Railroad Place above the AMC Movie Theatre. The building is owned by Galesi Group and Bonacio Construction Inc.”

Port of Albany getting new tracks to accommodate larger loads

“he northern entrance to the Port of Albany at Church Street will be closed between May 3 and 6 as workers replace railroad tracks there.

The new tracks are part of a long-term upgrading of the port that has included renovated sheds and warehouse buildings. In this instance, the railroad track turn into the port is being widened in order to accommodate larger, heavier loads coming to the port, including bigger turbine generators that are coming through the facility.”

EY wants to grow in Albany after Nuvalence acquisition

“Nuvalence may have been acquired by one of the world’s largest accounting firms, but it’s not leaving the region — in fact, Ernst & Young LLP sees the deal as an opportunity to grow its footprint upstate.

EY US announced Monday that it has acquired the Troy-based tech consulting company. Terms of the deal were not disclosed.”

Clinton Market Collective in Albany nears completion

“The Clinton Market Collective — a nearly $4 million investment intended to enliven a major gateway into downtown Albany — is taking shape and expected to open this summer.

Construction of the large pedestrian plaza near the Palace Theatre is nearing completion — the culmination of an idea first proposed six years ago to re-imagine what was once known as Federal Park, a little-used urban park.”

Sark Wire Corp. plans addition to Albany warehouse

“Copper conductor supplier Sark Wire Corp. is seeking to expand its Albany manufacturing facility by nearly 17,000 square feet, according to plans filed with the city.

The proposed expansion of the company’s existing 50,176-square-foot warehouse at 120 Industrial Park Road consists of additional manufacturing space and product storage, the documents indicate. Two new loading docks to handle both inbound materials and outbound finished goods also would be established.”

Funding Partners