October 27 2017

CEG Economic Development Week in Review – October 23 – October 27, 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:


RPI: CEG Looks at the Future of Automation and Robotics in New York State

Times Union: CEG and HVCC launch Manufacturing Technology Pathways

Saratogian: CEG’s Kennedy Talks about Proposed ADK Aquatic Center


It’s official: Arena Football League returning to Times Union Center

“Arena Football, the sport conceived on the back of an envelope that was played at the Times Union Center for 19 seasons, will return to the Capital Region next spring.

A new team with local ownership will begin play in April in the Arena Football League, it was announced Tuesday morning at the Hearst Media Center at the Times Union. The team’s local owners are George Hearst III, publisher and CEO of the Times Union; Dan Nolan, president and CEO of Hugh Johnson Advisors; and businessman Ed Swyer.”

RPI students to design Cohoes waterfront gateway

“Cohoes officials want a vacant piece of Hudson River waterfront turned into a welcoming cultural and recreational gateway to the city.

They’ve enlisted a class of architecture students at Rensselaer Polytechnic Institute to come up with several concepts, and one of the city’s major developers will consider building the students’ proposals.”

SUNY Adirondack culinary program plans downtown move

“The SUNY Adirondack board of trustees is poised to approve a $1.42 million plan to relocate the college’s culinary arts program from Queensbury to the new multi-use building at 14 Hudson Ave. in Glens Falls.

If approved, bids for the project would be due Nov. 8, with construction planned to start later that month, according to the agenda for the college board’s regular meeting on Thursday. The board will vote on the proposal at that meeting.”

Why the Albany area’s economic development council is talking food and beer

“The Albany, New York, area’s economic development council is pitching projects to make the region a better place to live in this year’s state money competition.

“This round, we’re talking about video games, we’re talking about beer, we’re talking about food. This is really making it more attractive to live here,” Omar Usmani said during a presentation of the Capital Region Economic Development Council on Tuesday. Usmani is the CEO and founder of IT company Aeon Nexus Corp. in Albany.”

U.S. Army invests $41.7M in upgrading Watervliet Arsenal

“The U.S. Army is making a $41.7 million investment in its manufacturing center at the Watervliet Arsenal to better support the needs of U.S. and foreign militaries.

Commander Col. Joseph Morrow said the arsenal has received more than $100 million in new orders over what it had at the same point in 2016, and to support this dramatic rise in readiness requirements, as well as the potential for tens of thousands of more direct labor hours to support future contracts now being negotiated, the Army must invest now to upgrade the arsenal’s mature infrastructure.”

Major projects in Cairo look to bring in business with improved infrastructure

“Officials are looking to two major projects in the works in the town of Cairo to attract businesses with improved infrastructure.

The two projects are sidewalk construction from Cairo Elementary School to the Hannaford supermarket on Main Street and town water infrastructure that will secure a new additional water source, replace necessary water pipes, replace all water meters and replace the existing water tank.”

As Albany Distilling grows so does its ties to its home town

“John Curtin, co-owner, of Albany Distilling Company, had no experience when he decided he wanted to make whiskey for a living. His career as a teacher had taken him to Scotland for a year and back to the Capital Region where he found himself growing tired of a desk job at GE. He and a friend started talking about opening bar and realized that no responsible financial institution would fund their dream. Inspired by a few nascent distilleries they saw popping up around the state, they changed tact and pitched banks on a distillery.”

How Glens Falls plans to spend $10M in grant money

“Glens Falls, New York, is one of 20 cities that have been awarded $10 million from the state’s Downtown Revitalization Initiative, but the process for spending the taxpayer money moves slowly.

City officials were presented a ceremonial check in August 2016.”

Momentum grows as more investors head to Glens Falls

“Peter Hoffman did not have a single tenant lined up when he started renovating the century-old, three-story brick building at 86 Glen St. in downtown Glens Falls.

Before contractors finished replacing the roof and constructing a new front entrance, the building was full. Hoffman convinced NBT Bank to move its regional headquarters into the building, and public relations firm Behan Communications leased the rest.”

Funding Partners