June 4 2021

Week in Review: May 31 – June 4, 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:


Times Union: Schumer seeks federal funding for Troy video-game center

Albany Business Review: Game On Accelerator Program raises money toward $5 million startup goal

WAMC: Schumer Backs Proposed ‘Game On Accelerator’ In Troy



Interior work at First Prize Center in Albany starts

“Interior work has begun at the former Tobin’s First Prize meatpacking plant, the latest step in the long-planned redevelopment of the run-down buildings off Exit 5 of Interstate 90.

Asbestos removal is being done by Jackson Demolition to prepare for the eventual demolition of the buildings, according to Bill Hoblock, executive vice president of Richbell Capital of Saratoga Springs, majority owner of the property.”

Hudson Hemp plans to expand for New York’s recreational marijuana market

“The hemp grower and processor Hudson Hemp is prepared to raise up to $10 million to establish similar operations for the adult-use cannabis market in New York state.

The company is already in conversations with investors that could fund the transition, said Ben Dobson, Hudson Hemp founder and president. The final total needed for the investment is still being determined.”

A look inside Amazon’s new Schodack fulfillment center

“You could almost fit Crossgates Mall inside the eight-month-old Amazon fulfillment center here.

Or you could put more than 20 football fields in this 1-million-square-foot structure. Moreover, you could watch all the games at once given the expansive video system in place.”

Hudson Valley Community College teams up with Albany International Airport on mechanic training program

“Hudson Valley Community College and the Albany International Airport are collaborating to create a new training program for aircraft mechanics, addressing an industry workforce shortage.

HVCC is opening a new Aeronautical Technology Institute that includes creating an Aviation Maintenance Technical School in 12,000 square feet of existing space at the airport.”

Plug Power and Renault investing nearly $80 million in joint venture Hyvia

“Plug Power and Renault Group have formed Hyvia, a new company that will begin making hydrogen-powered delivery trucks, vans and buses by the end of this year.

Hyvia is a joint venture with Plug and Renault having equal ownership and an agreement to collectively invest nearly $80 million in the business through the end of 2022, according to a filing with the U.S. Securities and Exchange Commission.”

CanCode joins Microsoft in Accelerate: New York training program

“CanCode has been expanding its digital workforce development programs beyond the Capital Region, and now it’s teaming up with a powerful new partner: Microsoft.

The local nonprofit is joining an effort called Accelerate: New York, which is focused on helping people gain digital skills to be better qualified for in-demand jobs. CanCode is the only organization involved that’s based in upstate New York.”

Funding Partners