August 3 2018

Economic Development Week in Review: July 30 – August 3, 2018

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:


Times Union: Event at Rivers Casino to highlight minority- and women-owned business program


Albany Med opens $52 million children’s emergency center

“Albany Medical Center on Tuesday opened its children’s emergency center in downtown Albany.

The $52 million center has 17 treatment rooms, including two trauma bays, four intake rooms, seven beds for minor emergencies and six observation rooms.”

Developer to bring apartments to downtown Glens Falls

“Real estate developer Chad Nims plans to invest $2 million to convert a 26,000-square-foot building in downtown Glens Falls, New York, into 18 apartments.

Nims purchased 46-56 South St. from investor Peter Shabat last fall for $600,000. The majority of the three-story building is vacant.”

Berkshires rail improvements could benefit Capital Region

“Two Massachusetts initiatives to improve rail service to the Berkshires could end up benefitting the Capital Region, as well, rail advocates say.

One effort has received $100,000 in state funding to pay for the planning needed to launch service by the late spring or summer of 2020. The Berkshire Flyer, as it’s being called, would be operated on weekends, connecting New York City and Albany to Pittsfield by extending existing Empire Service trains along the route already traveled by the Chicago-Boston Lake Shore Limited.

Etain plans to build manufacturing facility in Tech Meadows industrial park

“Etain plans to build a 15,000-square-foot facility in the Tech Meadows industrial park to accommodate its growing medical marijuana operation.

Joe Stevens, chief compliance officer for the company, told the Greater Glens Falls Local Development Corp. on Tuesday that the company is looking to hire 20 employees.”

Wood shavings company eyes expansion in bicounty industrial park

“A wood shavings company in Kingsbury is looking at options to purchase additional property in the Warren-Washington Counties Industrial Park.

Hampton Supervisor David O’Brien said Equustock, which was formerly the RWS Manufacturing plant, is looking to expand.”

Coeymans port wants temporary expansion into Hudson made permanent

“The owners of the Port of Coeymans want to make permanent a temporary expansion into the Hudson River done four years ago as part of the massive new Tappan Zee bridge rebuilding project.

Last week, a subsidiary of port owner Carver Laraway applied to the U.S. Army Corps of Engineers and the state Department of Environmental Conservation to get permanent status for a complex of trestles and cranes, some of which reach more than 270 feet into the river from the port.”

Vent manufacturer hopes to change code, industry practices

“The complex tapestry of building codes that regulate how structures are built holds a key to potential growth for an Albany manufacturer that wants expand its workforce and sales.

Centrotherm Eco Systems laid out its case for code inspectors and other guests visiting its South Pearl Street facility Wednesday, among them U.S. Rep. Paul Tonko, D-Amsterdam, who represents the area.”

South Street corner building would get facelift

“An underused building at the corner of South and Elm streets would be restored and reopened, with commercial space on the first floor and apartments on the second and third floor, in a renovation proposed by its owner.

The building at 46-56 South St. is currently home to a couple of taxi storefronts and the Northway Communications two-way radio equipment store.”

Schenectady sees jump in hotel supply, demand

“As more hotel rooms have gone online in Schenectady County, demand is keeping pace, according to the latest figures from data analytics firm STR.

Supply jumped more than 28 percent in the first half of the year compared to 2017’s first half. Demand rose more than 25 percent. The occupancy rate and average daily rate each declined by roughly 2 percent, while revenue per available room fell 4.3 percent.”

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