January 17 2023

Week in Review: January 9, 2023-January 13, 2023

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:



Albany Business Review: New York’s video game development tax credit application is now open

Albany Business Review: Amazon fulfillment center prompts changes in Schodack



Port of Albany creating entity that will own Beacon Island

“The Port of Albany is creating a business entity that will own the land and assets at Beacon Island, the site of the state’s $350 million wind turbine tower manufacturing project.

The Albany Port District Commission voted last month to create a limited liability company, or LLC, that would own Beacon Island.”

New grant program to invest $750K in Albany small businesses

“After a taxing year of inflationary pressures and pandemic-related supply chain issues, small businesses in Albany might be able to find relief through a new grant program designed to support post-COVID recovery efforts in the city.

Businesses can now apply for funding through the Small Business Improvement Grant (BIG) program, which will make up to $750,000 in flexible, recoverable and reimbursable capital grants available to eligible applicants. Mayor Kathy Sheehan and members of Capitalize Albany, the city’s economic development organization, announced the creation of the program at an event Wednesday morning at the Albany City Hall.”

GE creating battery that almost lasts forever

“Researchers at General Electric Co. are working to develop next-generation batteries that can last virtually forever and resist corrosion through metallic regeneration.

The new batteries are being developed at GE Research in Niskayuna, which is GE’s main research lab, as part of a Department of Defense project to create more long-lasting and durable batteries.”

Albany’s Small Business Building Improvement Grant applications open

“Small businesses in Albany that need help paying for capital improvements such as interior or exterior renovations, machinery, furniture and equipment can apply for grants under a new city program.

The Small Business Building Improvement Grant (BIG) program will provide up to $25,000 in assistance to business owners, Mayor Kathy Sheehan announced Wednesday.”

Funding Partners