October 12 2018

Economic Development Week in Review: October 8 – October 12, 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:


Business Review: What’s next for GlobalFoundries after its pivot  

Times Union: “Creative” economy flourishes in Capital Region

Times Union: CEG to hold annual meeting at Empire State Plaza


Transfinder purchases building for future expansion

“Transfinder Corp., which produces transportation routing software, is purchasing 438 State St., adjacent to its current headquarters, to accommodate future expansion. A Subway shop that currently operates there will remain, according to Transfinder CEO and President Antonio Civitella.

Transfinder currently has 85 employees at its 440 State St. location, and 110 worldwide.”

Capital Roots CEO says community organization founded, grows on grit

“Amy Klein says her favorite word is grit. After 22 years as the CEO of community food organization Capital Roots, she now has three bulging discs from carrying 40-pound bags of soil to create community gardens.

“It’s a badge of honor,” Klein told the crowd of professionals Wednesday at Women@Work’s monthly Changemakers breakfast, presented by Bank of America. ‘The organization was founded on grit and back in the day, that was because we had no choice.’”

These 20-somethings are betting on hemp to be New York’s next big industry

“A year ago, Maxson Freeman was working for a catering company, sharing an apartment in Astoria, New York, and trading cryptocurrency to earn extra money.

The 21-year-old entrepreneur from Valatie in Columbia County had no idea that 12 months later, he and two roommates would be business partners harvesting 1,000 pounds of hemp per day in the rural town of Berlin, New York.”

Startup that makes it safer to keep a hand gun close by raises $1 million

“Vara Safety, a startup that develops safes to store firearms, has raised $1 million from angel investors and state grants.

The Latham, New York, company creates a holster-like biometric gun safe that allows gun owners to keep their weapons within arm’s reach, without having to worry about a child or stranger getting access. The safe is only unlocked by the owner’s fingerprint.”

Etain seeks tax breaks for nearly $5 million medical marijuana facility

“Etain is seeking property tax breaks and mortgage and sales tax exemptions for its proposed facility in the Tech Meadows industrial park that would expand its medical marijuana medical operations.

The Glens Falls Industrial Development Agency will hold a public hearing at 7:30 a.m. on Nov. 1 in the mayor’s second floor conference room of City Hall regarding the Chester-based company’s request for a seven-year payment-in-lieu-of-taxes agreement for its proposal.”

Gore Mountain To Open Its Season With Expanded Facilities, Automated Snow Making

“Gore Mountain was a hub of construction activity over the summer. It involved three separate projects, all designed to enhance skiers’ enjoyment t the facility, both indoors and outdoors.

When everything is complete, a total of $12.5 million will have been spent on expanding the Tannery Bar and Restaurant on the Base Lodge’s upper level, with an expansion of the locker areas and the Mountain Adventure kid’s ski school program.”

JUST Water Reaches ‘Across The Pond,’ Begins Distributing Its Product In United Kingdom

“It has been two years since JUST Water located to Glens Falls, setting up a water packaging facility in the former St. Alphonsus Roman Catholic Church on 31 Broad St.

In August, the company launched its signature baby blue water container in the United Kingdom.”

Funding Partners