May 5 2023

CEG Economic Development Week in Review May 1 – May 5, 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:



Capital Region craft brewers plan expansions

“After a few uncertain years, the craft beer market bounced back in 2022.

Beer sales were down overall last year, but sales of craft beer rose, according to data from the national Brewers Association. The market topped $28 billion — just shy of 25% of all beer sales in the U.S. last year.”

Troy’s One Monument Square project to get $19 million new state budget

“Assemblyman John T. McDonald III secured $19 million in the New York state budget to help pay for the long-sought redevelopment of One Monument Square in downtown Troy.

McDonald, a Cohoes Democrat whose legislative district includes Troy, said Monday the funding is in the 2023-24 budget that both houses of the Democrat-controlled Legislature are voting on.”

Lazy Dog Cookies thriving in Saratoga Springs

“More than two decades ago, Amy Augustine gifted friends and co-workers a batch of freshly baked peanut butter dog treats.

She didn’t know it then, but the offering would propel her into a thriving career serving pets and their owners.”

Study examines workforce housing shortage in Adirondacks

“There’s been a housing crisis in the Adirondacks for years, specifically impacting the region’s workforce. Now, new data defines precisely how severe the housing shortage is and what kind of impact it’s having on the region.

North Country Public Radio’s Emily Russell spoke with Lake Champlain-Lake George Regional Planning Board Director Beth Gilles about the study, titled “Building Balanced Communities for the North Country: A Comprehensive Housing Study and Strategy.” Their conversation has been lightly edited for clarity.”

Upstate New York Thruway corridor fares well in study

“The Thruway corridor has landed some blockbuster projects over the past several months.

Just north of the Batavia exit, Edwards Vacuum is preparing to build a $319 million manufacturing plant. Farther east on the highway, Micron Technology is planning to invest up to $100 billion in a computer chip facility near Syracuse.”

Funding Partners