March 2 2020

Week in Review: February 24 – February 28, 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: Cuomo wants to map the genome of a million people for Alzheimer’s research


Bethlehem salsa maker keeps it local while growing family business

Larry Sombke, it’s almost always time to make the salsa — as in Larry’s All Natural salsa.

But the most important thing the former radio broadcaster and food book writer believes in growing his food company is keeping it as local as possible.”

Union College receives largest gift in school’s 225-year history

“Texas Instruments chairman and chief executive Rich Templeton and his wife, Mary, are donating $51 million to Union College in Schenectady to create an institute for engineering and computer science.

It is the largest gift in the liberal arts school’s 225-year history, more than double the previous record of $20 million donated by former congressman and oil executive John Wold and his wife in 2002.”

Regeneron will spend up to $620 million in capital expenditures this year

“Regeneron Pharmaceuticals could increase capital expenditures by nearly $200 million this year as the drug developer continues expanding its manufacturing and research centers in upstate New York.

The maker of medications for treating eye, skin and respiratory diseases spent $429.6 million on capital projects last year, a 12% increase over 2018.”

Schenectady startup firm gains Hot Spot designation

“Local startup firm Silver Soaks has secured Hot Spot certification from Innovate 518-Capital Region.

Silver Soaks is the second tenant of the New York BizLab incubator to become part of the program; TropheCase was first in 2018.”

AngioDynamics investing $7 million in Glens Falls and Queensbury

“AngioDynamics is investing $7 million to buy equipment, add manufacturing space and renovate offices in Glens Falls and Queensbury.

The manufacturer of ports, lasers and catheters is expanding production capacity in Warren County as chief executive Jim Clemmer positions the company to compete on bigger markets.”

Albany airport hires new leader for economic development

“The Albany County Airport Authority has hired Matt Cannon to serve as director of development and government affairs.

Cannon comes to the airport from the office of the Albany County executive, where he worked as director of intergovernmental affairs. Cannon will be reporting to airport CEO Phil Calderone, who until recently served as deputy Albany County executive and counsel.”

Making the parts that make machines run

“Unlike everything else made in Jenks Machine & Tool Co. on Route 4, the “Star Wars” parts don’t do anything.

On Monday, Aaron Jenks picked out of a crate a couple of gleaming metal pieces that looked like they might adorn a spacecraft and explained that his company made them for Adirondack Studios in Argyle, which did work for Disney’s new “Star Wars” attraction in Orlando.”

Capitalize Albany takes control of more downtown land

“Capitalize Albany Corp. has taken control of more land near the Trailways/Greyhound bus station in downtown Albany with the transfer of roughly five acres from the Albany Convention Center Authority.

The land includes parking lots and four vacant buildings on Broadway, Green Street, Hudson Avenue, Division Street and other streets — an area dubbed Liberty Park.”

New era to begin at Universal Preservation Hall

“When Universal Preservation Hall opens its doors Saturday and Rosanne Cash steps on to the stage for her sold-out show, a dream will come true in Saratoga Springs.

After a $13.5 million renovation project, UPH is the city’s first year-round performing arts center in more than five decades.

Common Roots targeting late April-early May opening for rebuilt brewery

“Common Roots’ new restaurant and brewery is taking root.

The shell of the new 14,000-square-foot facility has been completed and the building enclosed.”

Funding Partners