June 9 2023

CEG Economic Development Week in Review June 6 – June 9, 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 – Ecovative raises $30 million in new funding round

“Ecovative Design LLC, the Green Island-based parent company of MyForest Foods, has closed a $30 million funding round.

The company announced the end of its Series E round Tuesday.”

Global New York launches statewide tour to boost global exports

“A new campaign launched by Empire State Development seeks to boost New York’s exports by encouraging businesses to enter or expand their presence in the global marketplace.

Representatives from Global New York’s foreign offices, ESD’s international division, will conduct a trade promotion tour across the state throughout  June with the goal of introducing New York business owners to exporting. The event series marks the state’s first export promotion tour since the onset of the pandemic.”

Port of Albany’s maritime terminal, roads to be reconstructed

“The next phase of the Port of Albany infrastructure project will begin next week with the reconstruction of the port’s maritime terminal and adjacent roads.

The $11 million project, funded through the Transportation Investment Generating Economic Recovery program administered by the U.S. Department of Transportation, seeks to expand the port’s cargo capabilities and improve safety. It is the first time in the port’s 98-year history that the entire maritime terminal will be reconstructed, the Albany Port District Commission, which is charged with operating the port, said Wednesday.”

IBM to lease space in ZEN Building at Albany Nanotech Complex

“IBM will increase its presence in the Albany region by leasing the top floor of the ZEN Building at the Albany Nanotech Complex.

Nearly 50,000 square feet on the sixth floor were previously leased to CommerceHub, an e-commerce firm that moved two years ago to an office in Latham.”

Elevate Albany: The region needs to invest in growing talented people

“Chris Roberts was in kindergarten when his grandfather started teaching him how to stick weld.

The pair spent many weekends and summer days together, tinkering with tools while Roberts was growing up. His grandfather was a logger who worked for 42 years at the International Paper Mill in Corinth, and Roberts dreamed of following in his footsteps until the factory shut down in 2002 after more than a century in business.”

Dylan Turek nominated to be Troy commissioner of planning and economic development

“Troy Mayor Patrick Madden nominated Dylan Turek to succeed Steven Strichman as the city’s commissioner of planning and economic development.

Turek, who has worked for the city since late 2018, serves as director of economic development.”

Funding Partners