CEG Economic Development Week in Review May 5 – May 9, 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
WTEN News 10: NYS Department of Labor celebrates National Apprenticeship Day
Albany Business Review: CEG names Heather McDaniel as chief economic development officer
WNYT News 13: Department of Labor grants will help expand apprenticeship programs in NY state
REGIONAL ECONOMIC DEVELOPMENT NEWS
Retired MLB Player Launches Premium Youth Glove Company
“Kevin Smith, an East Greenbush native whose MLB career culminated with a stint on the 2024 New York Yankees, has a new venture keeping him busy during retirement: a premium youth glove company called Kali Gloves.
Smith, a Columbia High School grad who also played with the Toronto Blue Jays and Oakland Athletics, co-founded Kali Gloves with Matt Talarico, the Yankees’ former director of speed and baserunning.”
Barry Arkles’ Catemer buys Latham office building for semiconductor hub
“The new owner of a 73,000-square-foot building in a Latham office park envisions it hosting a consortium of vendors involved in the semiconductor industry, according to public records.
Catemer Holdings LLC, of Doylestown, Pennsylvania, this month paid $4.8 million for 6 British American Boulevard in Airport Park, according to a Albany County records, which don’t show a contemporaneous mortgage filing.”
Port of Albany seeks business ideas, proposals for Beacon Island
“The port originally purchased the site for $5.25 million in 2018 for an offshore wind turbine tower manufacturing facility. The facility was going to supply the towers for an offshore wind farm called Empire Wind 2, planned off the coast of Long Island, set to be developed by Equinor, a Norwegian energy firm. The project, which was expected to create hundreds of new jobs, had a $600 million price tag.
Empire Wind 2 was terminated in 2024 after Equinor and the state could not reach a new power purchase agreement after inflationary pressures and supply chain issues had caused the project’s costs to soar, forcing the state to try to negotiate a new contract with Equinor. An agreement was never reached.”
Green Springs Capital nears completion of $18M Excelsior Ave. project in Saratoga
“When brothers Brian and Gregory Green first took a look at a property with a neglected mansion and carriage house on Excelsior Avenue in Saratoga Springs, three other developers had already passed.
The Greens saw potential and pushed ahead on 182 Excelsior Ave., despite finding out they’d need to preserve and move the mansion and carriage house on the 2.5-acre site.”
Belmont Stakes, New Festivals Expected To Drive Record $450 Million Economic Impact
“Return of the Belmont Stakes, a new July 4 Racing Festival and the traditional 40-day Saratoga meet are expected to generate an all-time high $450 million economic impact this summer.
Every day of racing has an estimated $9 million economic impact, said Greg Connors, Saratoga Economic Development Corporation president and CEO.”
