CEG Economic Development Week in Review May 25 – May 29, 2026

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CEG IN THE NEWS

Times Union: Local executives being named to business hall of fame

REGIONAL ECONOMIC DEVELOPMENT NEWS

YINCAE Advanced Materials buys Menands building for $1.6M

“An advanced materials company bought an empty building in Menands that will provide more space for the growing business.

YINCAE Advanced Materials LLC paid $1.6 million for the two-story, 67,000-square-foot building at 93 Broadway, according to a deed filed in the Albany County clerk’s office.”

New Sewer Plant Spurs Development, Housing And Tourism In North Creek

“The expected completion this summer of a new $10.1 million sewage treatment plant is spurring transformative economic development in the hamlet of North Creek.

A new Ski Bowl lodge is scheduled to connect to the system when lateral lines are installed this fall, along with the 30-room Public House with two restaurants and the possibility of an affordable housing project that would give people such as Johnsburg Central School teachers a place to live in the community.”

Queensbury indoor cannabis grow facility to start construction

“A multimillion-dollar indoor cannabis growing facility is getting ready to break ground in Queensbury after five years of development — a sign of both demand for the product and the sometimes long timelines to stand up a business in the industry.

The 30,000-square-foot facility from Prime Arrow LLC has been in development since 2021. Plans for the site at 66 Stone Quarry Road at the Queensbury Airport Industrial Park were originally approved in June 2024.”

Lincoln Square towers in Albany would be demolished in $175M plan

“The former Lincoln Square Towers public housing complex in Albany’s South End neighborhood would be demolished and replaced with 305 units of affordable housing and commercial space under a $175 million plan being pursued by a local and downstate development team.

The linchpin for the mixed-use, mixed-income concept, called Lincoln Terrace, is securing state funds for demolishing the buildings on Morton Avenue at an estimated cost of up to $12 million.”