November 26 2021

Week in Review: November 22 – November 26, 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: Capital Region employers work to entice and retain young hires

Troy Record: The Capital Region’s hottest zip codes for employer growth

Saratogian: The Capital Region’s hottest zip codes for employer growth



IT firm cb20 moving HQ to Saratoga Springs

“The IT firm cb20 has tripled revenue since 2019, and its CEO says there’s more growth to come next year.

The firm expects to grow revenue by 50% in 2022, according to Chris Pickett, president and CEO of cb20.”

UAlbany hires Thenkurussi Kesavadas as VP of research and economic development

“The University at Albany has named a new vice president for research and economic development.

Thenkurussi (Kesh) Kesavadas will start the role on Jan. 24, according to an announcement made by UAlbany president Havidán Rodríguez Thursday afternoon.”

Imperial Pools proposes a new warehouse on Wade Road

“A plan by Imperial Pools to construct a warehouse/distribution center was presented to the Planning Board at its last meeting.

The one-story, 60,000-square-foot building is proposed for 5.6 acres of land on the west side of Wade Road adjacent to the existing Imperial Pools facility. The vacant chunk of land is zoned Commercial Office Residential.”

Iconic theater to become $12M Hudson Forum

“The former community theater at 620 Columbia St. will get a $12 million facelift next year.

The Galvan Foundation, which owns the old theater, received a $900,000 Empire State Development grant

from Gov. Kathy Hochul as part of an $81 million initiative for 97 projects statewide.”

Martin Schmidt will be next president of Rensselaer Polytechnic Institute

“Rensselaer Polytechnic Institute has named its 19th president.

Martin Schmidt will take the role effective July 1, 2022. He’s currently provost at the Massachusetts Institute of Technology.”

Union College students create devices to ease tedious production tasks for local workers

“Senior mechanical engineering students at Union College have partnered with local companies to create devices to make their operations more efficient.

Ron Bucinell, an associate professor of mechanical engineering at the college, crafted a unique capstone course that would push students to devise tools for everyday people who needed them.”

Arnoff Global Logistics wins approval for $15 million Saratoga County expansion

“Arnoff Global Logistics won approval to construct a $15 million, 120,000-square-foot addition to its Malta campus.

The town planning board on Tuesday approved the expansion of Arnoff’s 40-acre campus off Stonebreak Road. The project will nearly double the total investment that president Mike Arnoff has made since moving the corporate headquarters into the former Racemark International floor mat factory complex five years ago.”

Millions given to Capitol Region through development funds

“Several projects across the state are set to benefit from $81 million as part of a development initiative, the governor’s office announced this week.

A program called the Regional Economic Development Council initiative will bestow nearly $12 million upon the Capitol Region for projects in Albany, Saratoga, Columbia, Warren and Greene counties.”

Former Glenville maple farm selling off inventory, equipment for conversion to distillery

“The former Riverside Maple Farms will hold a clearance sale this weekend and next, as the new owner moves out sugar and syrup to make way for whiskey and whiskey barrels.

Entrepreneur Tony Hynes is converting the maple syrup facility to a craft distillery and cooperage. The operation will be marketed as a destination for people to see small-scale production of spirits, see production of the oak barrels in which they are aged, and taste the final product.”

Funding Partners