January 3 2020

Week in Review: December 30, 2019 – January 3, 2020


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: To many, new Schenectady casino really a conference center

Business Review: Center for Economic Growth names new board chair

Saratogian: CEG names 2020 Officers and Board of Directors

Corning Leader: New York leads the nation in population decline again


Columbia, Greene counties awarded $10M in REDC grants

“Columbia and Greene counties received a total of $10 million from the state’s Regional Economic Development Council.

The awards ranged from $30,000 to nearly $2 million, going to a variety of initiatives such as arts programs, aging infrastructure development and Main Street revitalization.”

Capital Region employers bullish on 2020 hiring

“Eight in 10 Capital Region employers are optimistic about job growth in the new year, but more than ever, filling open positions remains a significant challenge.

That’s according to the fall 2019 Alaant Hiring Index, an exclusive analysis of the area’s labor market prepared by Alaant Workforce Solutions, the Capital Region’s leading professional workforce services firm.”

GlobalFoundries breaks revenue record at Malta complex

“The GlobalFoundries computer chip manufacturing complex in Saratoga County surged past expectations a year ago, as revenue grew more than 33%, accounting for the first time for one-third of companywide sales.

Despite an industry forecast projecting a 10% decline in worldwide chip sales in 2019, the $15 billion manufacturing plant in Malta is on pace to finish this year with record sales again.”

Just Water plans to operate in two sites until it sells Glens Falls property

“Just Water has put its Broad Street site on the market, but will continue to operate in both Glens Falls and Queensbury into the first quarter of 2020.

The asking price for the building, the former St. Alphonsus Church, is $850,000.”

Another growth year for Schenectady’s Rivers, other New York casinos

“New York casinos continued their upward trend in revenue earned and taxes paid in 2019.

Schenectady’s Rivers Casino & Resort remained second among the state’s four non-Indian casinos for gross gaming revenue, behind the much-larger Resorts World Catskills in Monticello. But Rivers remained the highest-taxed, paying more than Resorts World, Tioga Downs in the Southern Tier and Del Lago Resort and Casino in the Finger Lakes region.”

Clinton Street Mercantile plans a second location in Albany

“The Clinton Street Mercantile, a retail incubator for artisans in downtown Schenectady, will be opening a second location on Lark Street in Albany.

“They’re doing incredibly well in Schenectady,” said Jeff Buell, principal at Redburn Development Partners, which owns 144 Clinton St., home of the Mercantile.”

Funding Partners