July 28 2023

CEG Economic Development Week in Review July 24 – July 28, 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:


Albany Inno – This VC firm wants to make deals in the Capital Region. Here’s how to get its attention

“When Rochester venture capital firm Impact Capital raised its first fund, none of the 11 companies that ended getting investment were from the Capital Region.

Impact Capital founder Thomas Bonadio — who’s also founder/senior counsel at the accounting firm The Bonadio Group — is looking to change that with the firm’s second fund.”

Albany Inno – Albany pharma startup Glauconix rebrands as it expands capabilities

“Albany pharmaceutical research startup Glauconix Biosciences has changed its name to reflect its growing variety of services.

Glauconix Biosciences is now Humonix Biosciences, the company announced earlier this month.”

Funds to aid BOCES construction program

“Questar III BOCES will get a state grant to purchase simulators for its Heavy Equipment Operations and Maintenance Program, which serves students from school districts across Greene and Columbia counties”

Schumer, Tonko announce $1.7 billion investment in Watervliet Arsenal

“U.S. Senate Majority Leader Charles E. Schumer announced a $1.7 billion investment into the U.S. Army Watervliet Arsenal, the largest in the facility’s history.

U.S. Rep. Paul Tonko, D-Amsterdam, joined Schumer on Friday afternoon to announce the investment, which will be used to upgrade and modernize the facility.”

Green Mountain Electric wins incentives for Saratoga Springs distribution center, corporate offices

“Green Mountain Electric Supply Inc. will invest $18.2 million to open a New York headquarters in the W.J. Grande Industrial Park in Saratoga Springs after the third-generation Vermont firm was awarded $1.56 million in tax incentives Thursday from the Saratoga County Industrial Development Agency.

The lighting, cable, alarm system and electrical parts distributor is about to purchase a 22.3-acre property and 143,000-square-foot warehouse from SKS Bottle & Packaging Inc. at 10 Skyward Drive on the eastern edge of the industrial park.”

Funding Partners