May 10 2024

CEG Economic Development Week in Review May 6 – May 10, 2024

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:



Schoharie Central School District: Schoharie Students Participate in National Signing Day

Capital Region BOCES National Signing Day is a Success



Will Tech Valley become an artificial intelligence hub?

“With the GlobalFoundries microchip plant in Malta and SUNY Polytechnic’s nanotechnology lab in Albany, the Capital Region has in the last decade earned the moniker “Tech Valley,” shorthand for a region where cutting-edge computer chips are developed and manufactured.

Now, leaders of two area colleges would like to build on that and create a hub for work in the artificial intelligence field, in which super computers can learn, think and possibly, someday, reason for themselves.”

Galway’s Whalens Horseradish Products nears 100 years

“From sauces to cheeses, there’s a lot of tasty horseradish products the various owners of Whalen’s Horseradish Products in Galway have concocted over the years.

Frank Whalen began the company in 1925 in Ballston Spa going door to door to deliver the product by ladle directly into the steel dispenser in the person’s milk box, according to the business’ website.”

Doug Grose back as NY CREATES board chair after two years

“Technology leader Douglas Grose has rejoined the board of NY CREATES, the nonprofit that oversees Albany Nanotech, after spending two years working on plans to create a national computer chip research lab with the possibility of Albany as its headquarters.

Grose will serve once again as board chair, a position he held from 2021 to 2022 after he helped establish NY CREATES in 2019 and served as its  first president.”

Hudson River’s latest addition: The Erin Elizabeth tugboat at Coeymans

“Carver Companies may be best known for the Port of Coeymans, which the firm owns and operates along the Hudson River.

But Carver also operates its own tugboat service. On Thursday, the company christened its newest addition: The Erin Elizabeth, a 96-foot-long craft, powered by three engines totaling 3,900 horsepower, which should be enough to move most barges or other large vessels up and down the river.”

NextGen Label Group adds new printing system to boost output

“NextGen Label Group, a manufacturer with facilities in Cohoes and Syracuse, is investing in a new printing system that it expects will boost output and help it garner more customers in certain beverage categories.

The company recently placed an order for a European-made hybrid label press that incorporates conventional and digital printing functions as well as finishing capabilities into a single system.”

$125,000 state grant secured for historic Pratt Rock Park restoration

“Additional funding assistance has been received for the restoration of historic Pratt Rock Park.

Town government leaders and Town Historian Carolyn Bennett were pleased by the recent announcement that a sweet $125,000 New York State Smart Growth grant has been secured.”

Kishor Bagul on growing Cloud and Things and expanding to Canada

“Kishor Bagul’s love of technology started when he was growing up in India, and brought him across the globe — first to Australia and then to America.

His career has also spanned many different varieties of companies and clients.”

Soccer stadium and franchise proposed for downtown Albany

“The prospective owners of a planned professional soccer franchise in Albany want to build an 8,000-seat downtown stadium that would anchor a $300 million entertainment district of hotels, restaurants, apartments and more.

The as-yet-unnamed team would be an MLS Next Pro franchise principally owned by Business for Good founders Ed and Lisa Mitzen, plus a group of investors that includes real estate developers Jeff Buell and Chris Spraragen. The franchise already has support from MLS executives, who came to Albany on Thursday to meet with elected officials and the prospect of professional soccer in the Capital Region.”

Funding Partners