July 26 2019

Week in Review: July 22 – July 26, 2019

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:


Post Start: Power of growth: Washington County sees high number of women farmers

WAMC: Female Farmers Are On The Increase In New York’s Capital Region

Times Union: CEG holding ‘creative economy’ mixer in Chatham


Student-operated pharmacy in Albany moves to Arbor Hill

“The Albany College of Pharmacy and Health Sciences announced Tuesday that it’s moved its student-supported pharmacy in Albany from the South End to Arbor Hill.

College Parkside Pharmacy moved into the Whitney M. Young, Jr. Health Center at 920 Lark Drive on July 1, filling space vacated by a Price Chopper-run pharmacy that had operated there for 14 years. It will be managed by a full-time, licensed pharmacist who will supervise pharmacy student interns as they seek to complete their Doctor of Pharmacy degrees.”

SUNY Poly scientists win major federal grant for research

“Two SUNY Polytechnic Institute researchers, Shadi Shahedipour-Sandvik and Woongje Sung, have been selected to receive $1.5 million in grants from the U.S. Department of Energy’s Vehicle Technology Office.

The grant money will be used to conduct research on transistors for silicon carbide and aluminum gallium nitride power electronics chips that could be used in future electric vehicles.”

Building demolition will kick off rebirth of South Street in Glens Falls

“Crews from Cristo Demolition Inc. will tear down three buildings in Glens Falls next month as the city pushes ahead with a $10 million downtown restoration centered around its South Street corridor.

The Albany firm was awarded a $513,900 contract in June to demolish vacant buildings that housed a former off-track betting parlor, a juice bar and the Daily Double bar.”

Offshore wind farms would depend on Capital Region ports

“Two Capital Region ports will play supporting roles in an ambitious project to build two massive wind farms off the New York and New Jersey coasts. Developers plan to fabricate and in some cases assemble components that would then be shipped to the construction sites.

Stavanger, Norway-based Equinor plans an 816-megawatt Empire Wind project that is expected to cost about $3 billion on an 80,000-acre site in the Atlantic 15 to 30 miles southeast of Long Island. Much of the assembly work would take place at the Port of Coeymans.”

Saratoga Partnership measures health of warehouse and logistics industry

“The Saratoga County Prosperity Partnership unveiled its new Saratoga County Warehouse and Logistics Index that is designed to measure the size and health of the county’s warehouse and logistics market — much of it fueled by online retailers like Amazon and increasingly Walmart and Target.

Data collected by the partnership, one of Saratoga County’s two economic development offices, found that there are 100 transportation and warehousing operations in the county and that between 2001 and 2017, employment in the sector has risen 21 percent from 1,470 jobs to 1,772 jobs.”

Capital Region labor market among state’s tightest

“Capital Region unemployment in June stood at an 18-year low for the month at just 3.2 percent of the workforce, the state Labor Department reported Tuesday.

The rate was also the second lowest among the state’s metropolitan areas. Only Long Island, at 3.1 percent, was lower.

GlobalFoundries celebrating 10 years in Malta Wednesday

“GlobalFoundries is hosting an afternoon celebration Wednesday at its Fab 8 computer chip plant in Malta to celebrate 10 years of operation.

The invitation-only event is taking place from 1:30 p.m. to 3 p.m. at Fab 8. The company required that invitees responded if they were attending by July 17 for security reasons.”

Here’s how $10 million will be spent in Albany as part of the Downtown Revitalization Initiative

“New loft-style apartments for artists, a market for startup businesses, a Death Wish Coffee retail store, new lights, murals, signs and other improvements are coming to the area around the Palace Theatre in downtown Albany known as Clinton Square.

Lt. Gov. Kathy Hochul today announced the 12 projects that will share up to $10 million in state grants and other assistance through the Downtown Revitalization Initiative.”

GlobalFoundries hired 517 employees in Malta this year, 200 more to go

“GlobalFoundries has hired 517 employees at its Malta manufacturing complex this year, and the company is searching for another 200 engineers, technicians and support staff.

The hiring spree comes less than a year after the computer chip maker eliminated 450 jobs in the Albany region amid a strategy shift focused on attracting more customers and increasing profitability.”


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