CEG Economic Development Week in Review September 11-September 15, 2023
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REGIONAL ECONOMIC DEVELOPMENT NEWS
“For decades, manufacturing jobs were one of the backbones of the American middle class.
This region was on the forefront of that, with General Electric being the area’s largest employer for many years.”
“Albany International Airport officials are already looking beyond the upcoming $100 million renovation and expansion of the terminal at what could be the next big changes.
They will be submitting an application this fall to the federal government seeking $20 million to $25 million to add two passenger gates with jet bridges and to upgrade Concourse A where United and Allegiant Air are located — the oldest of the three boarding/waiting areas at the airport.”
“Shopping mall owner Macerich and Paramount Development of Sarasota, Florida, are continuing to pursue plans to build 382 apartments and townhouses at the Wilton Mall. It’s an investment they see as critical to injecting new life into the property.
Macerich and Paramount presented a project update at the Wilton Town Board meeting Thursday night that includes a contribution to preserve farmland off Route 9 and prevent further development there.”
“The Capital Region’s offshore wind turbine manufacturing sector, still in its infancy, is already a part of creating a new wind power supply chain upstate.
A Swedish company called Ljungstrom has a steel fabrication facility in the Allegany County town of Wellsville, and has a contract with a key contractor for the Sunrise Wind offshore wind farm being built off the coast of Long Island.”
“The University at Albany has named a new leader for its innovation and entrepreneurship programs.
Kelly Reardon-Sleicher will become the program director for innovation and entrepreneurship programs at UAlbany starting later this month. She’ll be overseeing the university’s Innovation Center as well as a state-funded startup resource on campus, the university’s participation in the National Science Foundation’s I-Corps program and student entrepreneurship.”
“AgroChem USA is one step closer to a $6.4 million factory expansion in Saratoga Springs after the Saratoga County Industrial Development Agency on Tuesday approved more than $800,000 in tax incentives for the project.
Two years after the Saratoga Springs sanitizer and disinfectant maker was acquired by French food safety company Kersia Group, AgroChem is preparing to construct a 27,500-square-foot expansion to its Freedom Way factory in the W.J. Grande Industrial Park.”
“A year after President Joe Biden signed into law the $52 billion CHIPS Act that offers computer chip companies billions of dollars in subsidies to expand their manufacturing operations in the U.S., some companies are starting to submit their applications for the funding.
Just don’t expect to learn much about the specifics of the requests — at least for now.
“Spending by tourists and travelers in New York state totaled a record $78.7 billion in 2022, according to a study released Wednesday by Gov. Kathy Hochul’s administration.
That spending — a 51 percent jump over 2021 numbers — was fueled by a record number of “visitors,” an industry term that includes not only tourists traveling to New York but also local residents who travel more than an hour from /home for an overnight stay somewhere for whatever reason such as a sporting event, business or family.
“Carver Cos. and a private landowner intend to ask the town to rezone two plots of land — including a 364-acre wildlife management area — as the Port of Coeymans tries to prepare for potential offshore wind projects.
The proposed rezoning is essentially a swap: The company wants to have 134 acres of privately owned land to its north rezoned as industrial. A portion of the land in question is part of a larger 224-acre plot of land Ten Eyck “Trip” Powell owns between River Road and the Hudson River.”
“The Catskill Village Board of Trustees is submitting a new 2023 proposal for downtown revitalization funding from the New York State New York Forward program.”