Week in Review: November 29 – December 3, 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
“Glenn Fiedler first flew from Los Angeles to Troy for business in mid-2019.
Later that year, he got a one-way ticket, and Troy became the new base for his gaming tech startup, Network Next.”
“Governor Kathy Hochul recently announced the completion of the Starbuck Island redevelopment project, a $65 million investment that transformed more than 11-acres of contaminated oil storage brownfield into a high-density, vibrant waterfront community in the Village of Green Island, Albany County.
Starbuck Island connects Green Island to downtown Troy and is now home to nearly 270 residential units, a salon, a restaurant and parking.”
“Researchers at the New York State Mesonet are partnering with the National Oceanic and Atmospheric Administration on a new project that aims to enhance winter storm observations using the network’s real-time data.
The NYS Mesonet, headquartered at the University at Albany, is an advanced weather network that features 126 standard observation stations located throughout the state. The stations are spaced within 20 miles of each other, including at least one in every county and borough. Each offers continuous updates of various localized weather variables with updates every five minutes and real-time camera images.”
“Hudson Valley Community College will start searching for contractors next month for a two-story, 17,600-square-foot expansion at its Malta campus.
Bids for the proposed Health & STEM Education Center at HVCC North will be opened on Jan. 19 and construction is scheduled to start around April 1.”
“The village of Tannersville near Hunter Mountain in Greene County has less than a thousand year-round residents and just five miles of roads, so a $10 million grant from New York state’s Downtown Revitalization Initiative should go a long way.
“I couldn’t be more excited about it,” said Lee McGunnigle, a retired chiropractor who has been mayor for 26 years.”
“A number of companies and startups in the power semiconductor industry have popped up in the Capital Region since Wolfspeed, formerly Cree, started operating here in 2019.
That was the plan, said Michael Fancher, director of the New York State Center for Advanced Technology in Nanomaterials and Nanoelectronics, or CATN2, a state-funded organization involved in efforts to attract the company here.”
“Scannell Properties bought the land in the town of Schodack where a 278,670-square-foot distribution center will be built for Amazon.
Scannell Properties of Indianapolis paid $2.79 million to Snook Materials Group LLC for 56 acres on the south side of Route 150 at the corner of U.S. 9 and 20.”
“The startup TruWeather Solutions was the first to sign up for incubator space in UAlbany’s new ETEC building.
The company’s focus involves analyzing complicated weather data to help the growing drone and air taxi industry know if it’s safe to operate, said Don Berchoff, CEO of the company.”
“Inflation. COVID-19. The labor shortage.
Those are all potential problems for the stock market and the economy over the next two years.”