Week in Review: February 3 – February 7, 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:
CEG IN THE NEWS
Times Union: New video gaming courses coming to Maple Hill and Columbia high schools
REGIONAL ECONOMIC DEVELOPMENT NEWS
Saratoga Olive Oil opens warehouse facility in Moreau
“Saratoga Olive Oil Company is growing, with a new warehouse facility in northern Saratoga County.
Located at 1341 Saratoga Rd. in Moreau, this new site will enable the company’s shipping and receiving departments as well as its corporate headquarters to be closer to its Lake Placid and Burlington, Vermont stores, while also being 15 miles away from the flagship store in Saratoga Springs.”
Moreau Z-Farm Brewery approved, opening eyed for mid-summer
“The owner of the Z-Farm Brewery said the business hopes to open by mid-summer after receiving approval last week from Moreau Planning Board.
“I think it’s going to be a wonderful asset for the town. It’s going to be a way to preserve this farm that’s in a manufacturing zone,” said Rachel McDermott.”
Fingerpaint’s latest acquisition could boost revenue to $80 million
“Fingerpaint has added a new office and 60 employees in its acquisition of 1798, a firm based in La Jolla, California.
The Saratoga Springs marketing firm mostly works with companies in the pharmaceutical, health care and biotech industries. The acquisition will bring “market access” services in-house, which will help those companies figure out pricing, reimbursement and financial impact of products.”
Airline considering Buffalo flights, Albany airport officials say
“A regional airline is looking at restoring flights between Albany and Buffalo, a route that hasn’t had service since OneJet abruptly canceled flights in August 2018.
Albany County Airport Authority CEO Phil Calderone told the authority’s board on Monday that he had met with Southern Airways Express officials to discuss service on the route.”
Sales tax revenue mostly up across region
“With consumers continuing to spend in a low-unemployment economy, sales tax revenues grew for nearly all Capital Region counties in 2019, according to a report released Monday by state Comptroller Thomas P. DiNapoli.
The large counties at the core of the region — Albany, Schenectady and Saratoga — saw their receipts grow around 3.5 percent for the year, a solid performance that was a little below the statewide average of 4.7 percent, which was influenced upward by downstate activity.”
New website offers statistical profile of Capital Region communities
“A new website offers a statistical snapshot of communities in the Capital Region, from how much residents earn to how long it takes them to get to work.
The Capital Region Chamber this week launched capitalregionindicators.org in partnership with the Capital District Regional Planning Commission, The Community Foundation for the Greater Capital Region and the Capital District Transportation Committee.”
Mahan picks next leader of Colonie planning and economic development
“Sean Maguire has been chosen to replace Joe LaCivita as director of planning and economic development for the town of Colonie.
Maguire is a certified economic developer and planner with more than 20 years of economic development, land use planning, and local government management experience.”
Saratoga County Prosperity Partnership selects new CEO
“Shelby Schneider has been appointed as president and CEO of the Saratoga County Prosperity Partnership.
The economic development organization’s board of directors announced the selection Tuesday.”
Bound by Fate Brewing emphasizes family ties in Schuylerville
“Bound by Fate Brewing’s name is apt, because the business is run by a strong family that believes they were destined to open a brewery.
“Our family has talked about opening a brewery for a decade. It was a lifelong dream. We didn’t choose Schuylerville. Schuylerville chose us,” said Pam Pradachith-Demler, co-founder and manager of operations.”
$7 million expansion proposed at Albany business incubator
“Some startup businesses don’t need cheap office space. Instead, they’re looking for a retail storefront with affordable rent.
Some entrepreneurs are parents, but don’t have anyone to watch their child so they can attend a training program.”
GE Research wins $4.2 million grant to develop solar tech
“Scientists at GE Research in Niskayuna were awarded a $4.2 million grant from the U.S. Department of Energy’s Solar Energy Technology Office to develop new more powerful inverters that can support larger amounts of solar electricity being put onto the electrical grid.
Scientists at GE Research in Niskayuna were awarded a $4.2 million grant from the U.S. Department of Energy’s Solar Energy Technology Office to develop new more powerful inverters that can support larger amounts of solar electricity being put onto the electrical grid.”