CEG Economic Development Week in Review August 25 – August 29, 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

Times Union: Albany area drugmaker Curia hit by federal funding cut

Daily Gazette: Schenectady 2025: Evolution beyond a one-company city

REGIONAL ECONOMIC DEVELOPMENT NEWS

Realm Artesian Water prepares new bottling facility in Clifton Park

“High-end bottled water brand Realm Artesian Water is in the final stages of fitting up its new bottling facility in Clifton Park, a 9,000-square-foot stand-alone building at 8 Fairchild Square near Exit 10 of the Northway.

CEO Todd Kletter said the company has invested $1.3 million into fit-up at the facility. To date, the water company has raised $2 million from investors.”

Rensselaer riverfront development includes Polsinello apartment project

“For an old industrial city, Rensselaer is seeing a lot of new investments, especially along the Hudson River shoreline.

Some of what’s happening is building upon a mixed-use development, DeLaet’s Landing, that has been slowly taking shape over the past seven years.”

Amtrak plans major upgrades of Albany-Rensselaer maintenance facilities

“Amtrak is planning a major overhaul of the maintenance facilities at the Albany-Rensselaer station, work that will pave the way for its newest, fastest trains.

The project entails building a maintenance and inspection facility on Amtrak property near the station that will serve its new Airo trainsets, according to a spokesman for the national passenger railroad.”

Plug Power awarded $2 million to develop hydrogen storage trailers

“Fuel cell and hydrogen maker Plug Power was awarded a $2 million grant from the state to develop new hydrogen distribution trailers that use “cryo-compression” technology to store hydrogen.

Plug Power will work with a California startup company called Verne that specializes in cryo-compression technology, which stores hydrogen at extremely cold temperatures and under high pressure.“

Glenville’s BelGioioso Cheese won 7 NY state fair awards

“Cheese manufacturer BelGioioso, which operates a facility in Glenville, took home seven awards, including three gold medals at the New York State Fair Dairy competition.

Polly-O Low Moisture Whole Milk String Cheese and Polly-O New York Style Impastata took home the top award in the mozzarella and ricotta categories, according to a release from the company.”

Community Bank leases 20,000 sq ft for new Albany regional HQ

“Community Bank is leasing more than 20,000 square feet in a Latham office park for a new regional headquarters, the latest investment in the Albany area by the Syracuse-based lender.

The bank will occupy the entire second floor and part of the first floor at 14 Plaza Drive within developer First Columbia’s Century Hill Plaza office park. It’s expected to move in this fall.”

400-unit apartment proposal in Lake George boasts recreation

“A boost in recreational amenities and green space for Joe Gross’ potentially historic 400-unit Fort Gage apartment complex was met with praise from the Lake George Planning Board as the project comes down to the wire toward approval in the fall.

In an updated site plan, additional recreational opportunities for the site will include an expanded park area for a large playground for children, a multi-sport court for basketball and pickleball, a picnic pavilion, gazebos, and even a dog park as part of a pet-friendly initiative.”