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:
CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“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.”
“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.”
“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.”
“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.”
“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.”
“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 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.”
“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.”
“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.”