April 1 2022

Week in Review: March 28 – April 1, 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: Come on in: Capital Region, Hudson Valley saw population bump

Troy Record: Capital Region sees pandemic population gain

Register-Star: Migration from NYC lifts Greene population

WAMC: New Yorkers’ economic worries are on the rise, according to new Siena poll

Times Union: Velan Studios’ $25M investment in Capital Region gaming hinges on state tax credit approval

Register-Star : Population growth sends mixed signals

Altamont Enterprise: Population shifts

Saratoga Business Report: Capital Region Sees Pandemic Population Gain



Albany data center provider INOC grows as companies move to cloud services

“Companies in the Capital Region are continuing to give up their office spaces, but for those that still own their own servers, where do those go?

There’s a company in Albany that wants to house them.”

Capital Roots get $750,000 in federal funds

“Capital Roots is nearing the final stretch of construction for its expanded market and urban grow center but needs to raise more money for it despite recently being awarded $750,000 in federal dollars for the project.

The nonprofit set out to complete the project at 594 River St. over a decade ago and expects it will be completed by the end of November.”

Saratoga County family planning $60 million business park near GlobalFoundries and the Luther Forest Technology Campus

“Cailean Mackay and the Luther Forest Corp. are proposing to develop a $60 million park in Stillwater that could bring hundreds of manufacturing, warehousing, research and office jobs to town.

The proposed Luther Forest Business Park would be located on a 62-acre section of the roughly 3,300-acre real estate portfolio the Mackay family has managed in Saratoga County since William McKinley was president of the United States. The family has operated a wide range of businesses since 1898 including a logging operation, a private water company, a golf course and housing development.”

Catskill film studio gets lift from tax incentives

“A Catskill studio has been greatly bolstered by an influx of film and television productions thanks in part to a state tax incentive program.

Lumberyard Studios on Water Street in the village was founded in 2018 as a nonprofit theater space and its status as the only Qualified Production Facility in Greene County has turned the site into a local bastion of film and TV shoots.”

Amazon ‘last mile’ facility approved in Colonie

“The Planning Board, by unanimous vote, gave Amazon the final OK to build a last mile delivery station at a former manufacturing plant off Route 9.

The plan would renovate the now vacant Precision Valve Automation building on Mustang Drive to accommodate the 24-7 operation that is designed to be busiest outside the peak a.m. and p.m. travel times.”

Albany Inno – Why most projects at Jahnel Group may soon be for video game companies

“The majority of business at Jahnel Group may soon be in the video game industry.

At least that’s where the trend of projects seems to be headed, said Jason Jahnel, chief operating officer of the Schenectady software development firm.”

Advance Albany County Alliance building list of shovel-ready sites

“The Advance Albany County Alliance wants to be ready when businesses are scouting locations for large economic development projects.

That means knowing which sites are shovel-ready — in other words, most of the engineering and municipal approvals are completed so construction can start relatively quickly.”

Albany Inno – Why Troy Innovation Garage is starting an accelerator for small business

“During the early days of the pandemic when people had a lot of free time, some started side projects to generate extra income. Tom Nardacci wants to help owners learn how to maintain those small businesses long term.

One of his coworking spaces, the Troy Innovation Garage, is starting a new six-week accelerator program for small businesses in the Capital Region.”

Funding Partners