December 8 2023

CEG Economic Development Week in Review December 4-Decembr 8, 2023

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:



Chamber Executive: Forty under 40



Syracuse developer to revitalize Glenville Navy Commissary Building

“A Syracuse developer has purchased and plans to develop the long-vacant Navy Commissary building here.

The 120,000-square-foot structure dates to World War II when the Navy, post-Pearl Harbor, was moving material away from the coast due to fears of bombing raids.”

Community Loan Fund’s Albany Coliseum renovation gets funding for first phase

“The $800,000 grant will offset the costs to install an elevator, put bathrooms on all four floors, and replace the decades-old roof.

Other work will be done in later phases. The Community Loan Fund anticipates the total investment will be about $3 million.”

Albany College of Pharmacy awarded $625,000 for incubator

“The Albany College of Pharmacy and Health Sciences has been awarded $625,000 in state funding to launch its new business incubator program.

The grant, which will help pay for start-up and operating expenses, will be disbursed over five years through Empire State Development and its Division of Science, Technology and Innovation, also known as NYSTAR.”

Vanguard-Fine’s Lear Jet Lane warehouse project will be all electric

“There’s something different about the office/warehouse being built at 2 Lear Jet Lane in Latham.

The 12,000-square-foot building — the first of three warehouses totaling 54,000 square feet that Vanguard-Fine LLC of Guilderland will construct there — will be heated with electric-powered heat pumps.”

Weather Risk Center to enhance emergency management in New York

“The University at Albany on Thursday unveiled a new Weather Risk Communication Center, which is described as a first-of-its kind collaboration between university researchers and state emergency managers who deal with severe weather events.

With an annual $1.5 million investment, the center will serve as a clearinghouse for critical weather information and develop new tools to help emergency managers make more-informed decisions to protect communities from weather-related hazards.”

Funding Partners