June 16 2022

Week in Review: June 13 – June 17, 2022

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: New home construction soars in Columbia, Greene counties



Word of Life Lodge being sold to Bonacio Group

“The family vacation destination used by visitors to Schroon Lake over decades will be reopened after renovations as part of a $21 million project led by a Saratoga Springs construction company operator.

Gov. Kathy Hochul announced the deal because state funds will be subsidizing the project developed by Sonny Bonacio of Bonacio Construction.”

Just pouring: Maple syrup production hits heights in 2022

“Maple syrup producers in 2022 in both New York and the United States tapped into a good year, seeing double-digit increases.

According to the U.S. Agriculture Department, New York sites produced 845,000 gallons of the sweet liquid this season, a 31 percent increase that tops the 647,000 the year before and was ahead of 2020’s production of 804,000. Vermont’s increase was even more stunning: nearly 46 percent higher.”

Albany Inno – What this Capital Region startup founder has learned at Amazon HQ

“It took five interviews with Amazon Web Services executives before Devvan Stokes got the news. The fifth call came on May 27, and he was on a plane to Seattle just over a week later.

That’s because his Capital Region software startup, GyvLink, had been selected as one of 25 U.S. startups in the first cohort for the Amazon Web Services (AWS) Impact Accelerator for Black Founders.”

Ann Lee Nursing Home is coming down

“Albany County is planning to demolish the Ann Lee Nursing Home. The Public Works Committee of the Albany County Legislature voted recently to spend $1.9 million to raze the building that has been vacant since 2008 when two Albany County nursing homes were combined and moved into what is now known as Shaker Place Nursing & Rehabilitation Center.

The plan is to make the site shovel ready for future economic development, Davide Latina, commissioner of the county Office of General Services, told the committee, where the plan had bipartisan support. It will need to be approved by the full Legislature before the money can be spent.”

Orsted and Eversource Energy search for suppliers for New York offshore wind project

“Orsted and Eversource Energy are searching for manufacturers, engineering firms, heavy equipment haulers and electrical parts suppliers to help build one of the nation’s largest offshore wind developments, Sunrise Wind, 30 miles off the coast of Long Island.

After spending the past several months contacting close to 1,500 New York companies, the development partners Orsted and Eversource are hosting a supplier forum Tuesday at Empire State Plaza in Albany. More than 300 people have registered.”

Schenectady High launches partnerships with SUNY Schenectady, Proctors

“The Schenectady City School District launched the first part of its City As Our Campus initiative Wednesday.

The move will give more Schenectady High School students a jump on their college education at SUNY Schenectady County, or their first step toward a performing arts career through a partnership with Proctors.”

Not Enough Emphasis In Schools About Building Trades Careers Is Industry Problem

“Unlike the Marines, area builders need a whole lot more than “A Few Good Men.”

A severe nationwide labor shortage is being felt locally, too, as understaffed firms can’t keep up with customer demand.”

Funding Partners