January 5 2018

CEG Economic Development Week in Review – January 1 – January 5, 2017


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:



Palace Theatre buys property from city in major step toward theater’s transformation

“The nonprofit that runs the Palace Theatre in downtown Albany, New York, has purchased the theater property from the city in a major step toward executing a $65 million expansion.

Palace Performing Arts Center Inc., the nonprofit that runs the theater, will pay the City of Albany $750,000 over 30 years. The sale, which had been negotiated for months, is an important step in the plan to transform the 2,800-seat venue.

Tech company’s lights being used to kill germs in ambulances

“Vital Vio, the Troy, New York, company that designs lights meant to kill bacteria, such as MRSA, E. coli and salmonella, is expanding into new markets by bringing its technology to ambulances.

Vital Vio has been working with Code 3, a company based in St. Louis, Missouri, that designs and manufactures emergency lighting, through a licensing agreement. That partnership has brought about its first product, a light with Vital Vio’s technology that can be installed in place of regular interior ambulance lighting.”

Record year for kayak and canoe rentals in Catskills

“The New York City Department of Environmental Protection (DEP) announced that a total of 1,646 boats were used in 2017 through its recreational boating program in the Catskills, including 968 canoes and kayaks that were rented from local businesses — the most of any year since rentals began in 2014. Rental boats made up the majority of boats used on the four reservoirs for the second consecutive year, underscoring the program’s support of local tourism and outdoor recreation businesses.”

Argyle Cheese Farmer gets OK for new site

“Argyle Cheese Farmer hopes to open its cheese and yogurt manufacturing plant this fall in what is currently a vacant warehouse on Pruyn’s Island.

The Planning Board on Tuesday gave a conditional approval to the project to renovate the building at 4 Reed St. Co-owner Marge Randles said she is “excited and nervous and anxious” about clearing this hurdle.”

Funding Partners