August 2 2019

Week in Review: July 29 – August 2, 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:


Times Union: Federal funding of small biz in Capital Region on rise

Post Standard: Apprenticeships could fill NY’s tech talent gap


Amazon’s ‘last mile’ warehouse in Colonie would have up to 40 vehicles leaving every half hour

“A warehouse that Amazon wants to open in the village of Colonie would have up to 12 trucks backing up to six loading docks every night of the year.

The trucks would be carrying packages that were loaded at a larger distribution facility. About 130 employees would work the overnight shift unloading and sorting boxes at 10 Jupiter Lane off Central Avenue.”

Development surges along Troy waterfront

“Construction workers, it seems, are everywhere in downtown Troy and neighboring Green Island as a resurgence in city living gathers speed.

Drive up Fourth Street and you’ll pass the latest project by Rosenblum Companies, a five-story apartment building at the corner with Congress that’s replacing a former one-story bank branch. The $18 million Vicina Modern Urban Flats, as it will be called, will have 80 apartments with retail space on the first floor.”

Entrepreneurial flurry on Schenectady’s lower Union Street

“Three entrepreneurs are filling three adjacent storefronts on Union Street with two restaurants and a Schenectady-themed retail shop.

Longtime area chef Doug Davis is doing a gut renovation and expansion of neighborhood favorite Manhattan Exchange at 607 Union St.”

High-end Mohawk Harbor condos in Schenectady finding buyers

“The waterfront condominiums at Mohawk Harbor are starting to move off the market, with two occupied as of Friday and four more spoken for.

The 15 upscale townhouse-style units at the northernmost end of the property are among the most expensive addresses in the city, with base prices ranging from $525,000 to $750,000, plus the costs of any customization.”

Vicarious Visions — Storytellers develop video games in Colonie

“Jen Oneal wants Vicarious Visions’ games to be more than just a source of entertainment.

Oneal, studio head at the local video game developer, never forgot the first time she realized a game could be more than just fun. As a kid, she found a new world in “The Legend of Zelda,” her first story-focused video game, after years of growing up on “crappy” Atari games.”

Great Escape seeing customer boom thanks to expanded water park

“Great Escape’s expanded water park has drawn in record numbers of people this summer, forcing the company to park hundreds of cars in a series of meadows near its rides.

That means traffic to Great Escape may have finally reached levels that require it to install a traffic light at Round Pond Road, near Martha’s Dandee Creme.”

Inside Tierra Farm, the $30 million-a-year business roasting nuts and coffee

“Tierra Farm has acquired two companies this year and is opening a warehouse in Colonie later this summer as it looks to grow to $50 million in annual revenue from $30 million annually.

Tierra Farm roasts and sells nuts and dried fruits and coffee products to cooperative markets and independently owned grocery stores across the country. Local customers include Healthy Living Market and Cafe in Saratoga Springs and Honest Weight Food Co-op in Albany.”

Contractor plans expansion off Northway in Queensbury

“A 16-year-old contractor, building maintenance and snow removal company plans to open a new operations center off the Interstate 87 Northway in Queensbury.

The owners of North Country Facilities Management and North Country Snow and Ice Management want to move their operation from Glens Falls to 415 Bay Road in Queensbury. The company employs between 40 and 50 full-time, year-round staff and the payroll rises to 250 in the winter.”

Bids for next phase of UAlbany’s $60 million Schuyler Building renovation to go out this fall

“The University at Albany expects to put out construction bids this fall for part of its planned $60 million renovation of the Schuyler Building.

This next phase of the renovation will be a $28 million gut rehab of the building’s south wing to continue preparing it to house the university’s new engineering college.”

Counties sales tax revenue up moderately from 2018

“County-level sales tax collections were higher in the first half of 2019 than in the first half of 2018, the state Comptroller’s Office reported Wednesday.

Collections increased 3.4 percent in the first quarter of 2019 and 3.2 percent in the second quarter, it said, noting also that wages and consumer spending also showed only moderate growth. Also factoring into the equation was a decline in prices of gasoline.”

CMH in line for $17.4 million state grant

“Columbia Memorial Health will receive nearly $17.4 million in funding as part of a statewide effort to support the New York’s health care system.

Funding is being provided by the Statewide Health Care Facility Transformation Program, Gov. Andrew Cuomo announced late Wednesday.”

The Troy creative agency you never heard of wants to grow

“When you walk into the offices of id29 on River Street in Troy, you feel like you are walking into a speak-easy.

You might even miss where to enter the business since the company shares a building with Brown’s Brewing Co., and the only hint that you are in the right place is that there is a small, inconspicuous sign with “id29” on it, right below the number ‘425,’ as in 425 Broadway, the former 19th-century collar factory that the company shares with the brewery.”

Funding Partners