October 1 2021

Week in Review: September 27 – October 1, 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:


Albany Business Review: Albany Inno – Three new startup incubators planned for the Capital Region

Times Union: GlobalFoundries starts apprentinceship program


Hochul plans to continue state economic development funding

“Gov. Kathy Hochul said Friday she will continue the competitive grant programs that have sent billions of state economic development dollars to communities, and even seek to expand them.

Their competitive nature has been criticized but Hochul told the annual meeting of The Business Council of New York State that they produce results.”

Scannell’s Saratoga County project could bring $330 million in yearly wages to Malta

“Scannell Properties expects its proposed $255 million manufacturing and warehouse complex will bring $330 million in annual wages into Saratoga County.

The Indianapolis real estate developer also figures the 245-acre development in the Luther Forest Technology Campus in Malta would have the potential to generate $1 billion a year in sales.”

NYSEG working with UAlbany to predict outages using ‘artificial intelligence’

“NYSEG, an electric and gas utility that serves areas of the Capital Region not served by National Grid, is developing a new computer-based outage prediction system that will use artificial intelligence.

New York State Electric & Gas says it is developing what it is calling an “outage prediction model,” essentially a software program that will use machine learning, or artificial intelligence  —  AI — to predict outages during storm events.”

West Mountain looking to create slopeside resort

“With an extensive and expensive replacement of infrastructure complete, the owners of West Mountain ski area are now looking to build a ski-and-stay slopeside resort.

After informal discussions and presentations with town officials, co-owner Spencer Montgomery said Wednesday he plans to bring a more formal proposal before the Town Board in October. He’s optimistic he’ll gain Planned Unit Development approval later this year, which then clears the way for the many steps that must come before anything is built.”

Albany Inno – Community Loan Fund to triple capacity of its startup incubator

“The Community Loan Fund of the Capital Region is preparing to begin construction in the next several months on an $11.2 million building that will include an expansion of its startup incubator.

Construction had been slated to begin this fall, but plans were pushed back because of the pandemic, said Linda MacFarlane, executive director of the organization.”

Albany Medical College researcher wins grant from Alzheimer’s Association

“Albany Medical College professor Kristen Zuloag has been awarded a $150,00 research grant from the Alzheimer’s Association to study the effects of menopause on Alzheimer’s disease.

The three-year research grant will fund “research used to determine the effects of menopause on memory and damage to the brain” and  “whether increasing estrogen in the brain after menopause can improve memory and reduce damage.”

Funding Partners