January 8 2021

Week in Review: January 4 – January 8, 2021

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:


First Prize Center redevelopment gets financing and demolition permits

“Four years after plans were released for redeveloping the former Tobin’s First Prize meatpacking plant, there are signs the project is finally taking steps forward.

Pioneer Bank approved a $14.4 million loan which includes money for demolition and environmental cleanup of the 32-acre West Albany site, one of the worst eyesores in the region.”

Why three couples chose upstate New York over big metros

“The Albany region has seen an influx of people moving from downstate and out-of-state since the pandemic hit New York last March, but the reasons and timing are more nuanced than simply escaping a densely packed major metropolitan area.

The wave apparently isn’t as big as what’s happening in the lower Hudson Valley. It will take time to know the extent of the migration into local communities and the effect it has on population, schools, development and the broader real estate market.

‘Tracking the Covid recovery and the impacts is a challenging proposition because most data sets are lagged,” said Mark Castiglione, executive director of the Capital District Regional Planning Commission. “They don’t paint a real-time picture.’”

UTSA Artificial Intelligence Consortium receives over $1M in research funding

“Dhireesha Kudithipudi, founding director of the MATRIX AI Consortium for Human Well-Being, and the Robert F McDermott Endowed Chair in Engineering, was recently awarded $1,481,697 in combined funding for her research in lifelong learning. This funding includes a $472,306 sub-award from Argonne National Laboratory under the Defense Advanced Research Projects Agency’s (DARPA) Lifelong Learning Machines (L2M) program, along with a $1,009,391 award from the Air Force Research Laboratory (AFRL).”

Medical device maker AngioDynamics chasing $3 billion market for treating blood clots

“AngioDynamics is on track to increase research and development spending by 25% or more this year as the port, catheter and laser maker aims to grab a bigger piece of a $3 billion market for treating blood clots.

The Latham manufacturer spent $18.7 million between June and Nov. 30, a 33% increase from the same time frame in 2019.”

Funding Partners