CEG Economic Development Week in Review May 26 – May 30, 2025
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:
CEG IN THE NEWS
WNYT News 13: Center for Economic Growth adds economic development officer
Albany Times Union: Three to be inducted into Capital Region Business Hall of Fame
Albany Times Union: CEG starts new venture capital program for promising local startups
Albany Business Review : Albany Nanotech Complex plans expansion beyond NanoFab Reflection
REGIONAL ECONOMIC DEVELOPMENT NEWS
Conifer Realty plans ‘Tannery Commons’ project in Ballston Spa
“Conifer Realty in Rochester wants to develop 168 apartments at the former American Hide Leather Haight Co. Tannery site in Ballston Spa.
Dubbed “Tannery Commons,” the project would consist of four buildings — three for the residential units and one for community amenities. The apartments would range from one to three bedrooms. There would also be 8,400 square feet of commercial space.”
Catskill begins the process of spending $10 million in NY DRI funds
“The village of Catskill, a community of 3,700 on the western shore of the Hudson River, applied for funding through the state’s Downtown Revitalization Initiative in 2022 and 2023, but failed to win the program’s coveted $10 million grant.
Earlier this year, the state announced Catskill would receive $10 million to help improve the village center for residents and visitors alike.
Athens gets $1.4M for water plant upgrades
“he state Environmental Facilities Corporation (EFC) has approved over $37 million in financial assistance for water infrastructure improvement projects across New York State, including $1.4 million for the Village of Athens.
The EFC approval authorizes municipal access to low-cost financing and previously announced grants to get shovels in the ground for critical water and sewer infrastructure projects, from treatment processes to remove emerging contaminants from drinking water, to replacing lead service lines and modernizing aging systems.”
Glens Falls Bakery Boosts Output, Plans For Employee Ownership To Sustain Mission
“Rock Hill Bakehouse sells more than 14,000 loaves of bread per week, from Westchester to Lake Placid and is aiming for a 30 percent increase in production.
“That’s one of the main reasons we moved here, to get wholesale manufacturing back to a breakpoint in production,” owner Matt Funiciello said.”
Local Franchisees Of Nothing Bundt Cakes Open Saratoga Shop; Plan Further Expansion
“When Matt and Melissa Gleason opened their first Nothing Bundt Cakes shop in Albany in 2017 they already had their sights set on Saratoga County. When the Albany shop became successful they implemented their plan by opening a second location in Clifton Park in 2021, but they didn’t stop there. Following a multi-year search they launched their third shop in April in Saratoga Springs.
‘We had been working on Saratoga for several years trying to find the perfect spot,’ said Matt. ‘We’re very happy to have landed where we did. It’s right off Exit 15 with lots of traffic.’”
Scannell Properties plans warehouse in Halfmoon off Liebich Lane
“Scannell Properties is seeking site plan approval for a 125,700-square-foot warehouse/office in Halfmoon where other large commercial buildings have been constructed.
The building would be on land to the rear of the John W. Danforth Co. office/warehouse at 5 Liebich Lane, another large warehouse with multiple tenants at 3 Liebich Lane and a smaller building at 15-17 Liebich Lane.”
Crane Stationery moving HQ from Cohoes to former Plug Power site in Latham
“Crane Stationery plans to spend more than half a million dollars relocating its headquarters from Cohoes to the site of Plug Power’s former headquarters in Latham, according to public records.
The high-end stationery business’ expected move to 968 Albany Shaker Road was disclosed in a grant application submitted to the Advance Albany County Alliance, a county government-aligned entity that promotes economic development in the area.”
Workshop at Glenville to bring hybrid warehouse concept to town
“Tom Potoeski and his business partners saw an opportunity to bring a warehouse concept to the town of Glenville in Schenectady County that’s becoming more popular.
The 30,000-square-foot building being constructed on Maple Avenue will be divided into 1,500-square-foot units that can provide commercial tenants with a sales office, storage and/or showroom.”
‘The Ed’ Opens In Glens Falls As Centerpiece Of Downtown Revitalization And Community Renewal
“Nine years ago, the City of Glens Falls applied for a potentially game-changing $10 million state grant to revitalize downtown.
Money came through a year later and in October 2023, following pandemic-related delays, workers broke ground on a new market center, part one of a huge multi-phase effort to transform South Street. On Friday, May 16, hundreds of people gathered to celebrate opening of the Events Downtown Center, nicknamed “The Ed” in honor of the late Ed Bartholomew, the Warren County Economic Development Corporation leader, whose driving force made the project possible.”
