CEG Economic Development Week in Review – April 22 – April 28, 2017
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REGIONAL ECONOMIC DEVELOPMENT NEWS
“Troy, New York, was named the fifth-best small city in the state to start a business by a report from financial advice website WalletHub.
The city, which ranked 78th nationwide, placed higher than any other Capital Region city.”
“A former tavern nearing its 200th birthday will likely be the first piece of the city’s next destination area.
Work has begun on the $14.1 million Mill Artisan District, which aims to transform a stretch of storefronts on lower State Street near Mill Lane into a small community that will showcase the area’s history while also offering opportunities to eat, drink and shop.”
“General Electric Co’s Schenectady-based GE Power subsidiary is set to announce its largest deal in history this week: a $3 billion power plant services deal with Algeria, according to Reuters.
GE’s chief financial officer said last Friday that such a deal was going to be announced, although no specifics were given at the time except that it would be in the Middle East.”
“The C.R. Bard medical device plant at 289 Bay Road, a mainstay in the region for decades, will soon have a new corporate owner.
Becton, Dickinson and Co., of Franklin Lakes, New Jersey, another global medical company, is buying C.R. Bard for $24 billion.”
“Siena College is using a grant from the Sherman Fairchild Foundation to build a new observatory that will house the largest telescope in the Albany, New York area.
The $467,402 grant from the Maryland foundation will cover the cost of construction, according to Rose Finn, a professor of physics and coordinator of the grant application at Siena.”
“The software that could help doctors talk confidentially to patients has roots in the Arab Spring.
The encrypted platform was initially meant for protesters and others who wanted to communicate outside the purview of governments, but failed to gain traction in the marketplace.”
Craft beverage producers in Warren and Washington counties have a new distinction to boast about.
Travelocity and The American Distilling Institute ranked the Glens Falls Metropolitan Statistical Area No. 9 on its new index of the Top 10 Small Metro Areas in the United States for craft spirits tourism.
“The hiatus is over for famed bicycle builder Ben Serotta.
After his abrupt exit from the company he built from a cottage shop to a world-class racing bike factory, he took a few years away from performance bikes. But he found the passion for his craft too strong to resist.”