October 20 2017

CEG Economic Development Week in Review – October 16 – October 20, 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:


Business Review: Albany vs. Seattle: The case for Amazon’s $5B headquarters

Business Review: The pitch: ‘Amazon Promenade’ connecting downtown Albany and Rensselaer

All Over Albany: A Snapsot of the Capital Region Pitch to Amazon

WAMC: Amazon’s HQ2: New York, Connecticut, Massachusetts Submit Bids  

Daily Gazette: Albany to Amazon: Please pick us!

Times Union; What Amazon in Albany might look like

Business Review: Rensselaer riverfront among sites being pitched for Amazon ‘HQ2’

WRGB: Bids due tomorrow for new Amazon HQ

WNYT: Rensselaer tries to woo Amazon for new headquarters


Bolton Landing Brewing Co. On Lakeshore Drive Will Have Eight Beers Upon Opening

“Brendan Murnane started dreaming of ways to live and work in Bolton Landing ever since he was a kid. With the pending opening of Bolton Landing Brewing Co., his childhood dream is about to come true.

The company expects to open at the end of October at 4933 Lakeshore Drive, across from Rogers Park and Lakeside Lodge Grille. The property is centrally located in the middle of the village of Bolton. Murnane has made significant renovations since purchasing the building in December.”

Ayco moving financial services HQ to Latham

“Ayco, a financial services firm owned by Goldman Sachs, announced it will move its headquarters from Saratoga Springs to a new, 150,000-square-foot office building in Latham, New York.

The building will be developed by Galesi Group on the site of the former Starlite Music Theater on Columbia Street near Exit 7 of the Interstate 87 Northway.”

Behind the scenes at Scarano Boat Building

“John Scarano has spent 43 years designing and building sailboats and dinner cruise vessels that navigate lakes, rivers and harbors from Lake George to the Chesapeake Bay and the Oklahoma River.

The founder of Scarano Boat Building in Albany, New York, has grown the business from a builder of small racing sailboats in the 1970s to a manufacturer of excursion and charter boats that are up 180 feet long and cost up to $3 million.”

Fortune 300 gas supplier will build gas plant on GlobalFoundries campus

“One of the world’s largest industrial gas producers has signed an agreement to build and operate a nitrogen gas plant on the GlobalFoundries complex in Malta, New York.

Praxair, a Fortune 300 company with 26,000 employees and $10.5 billion in annual sales, is expected to construct the gas plant and begin producing nitrogen for GlobalFoundries during the first half of 2019.”

See inside Albany’s newest brewery, renovated distillery

“Fort Orange Brewing is opening next week at 450 N. Pearl St. in downtown Albany, New York.

The brewery comes from co-owners Craig Johnson, John Westcott and Jim Eaton. They are all from Castleton and have been brewing small batches of beer in their garages for more than 10 years.”

As upstate New York jobs growth stalls, Albany among areas bucking the trend

“Buffalo and Rochester are holding back upstate New York’s jobs growth. The Albany area is adding jobs, but not enough to compensate for western New York’s weaknesses, according to a blog post by two economists at the Federal Reserve Bank of New York.

“Albany’s one of the areas that’s sort of bucking the trend,” Jaison Abel, one of the blog post’s authors, told the Albany Business Review.”

Funding Partners