May 17 2019

Week in Review: May 13 – May 17, 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:



Larry’s All Natural of Slingerlands launches salsa line

“Larry’s All Natural, a Slingerlands Mexican foods company run by Larry Sombke, has introduced a line of salsas to his line of Mexican cooking sauces.

Larry’s Mild and Medium Chunky Salsa are being sold now through at least 30 local grocery stores and supermarkets and are also now available outside the region in places like Syracuse and New Rochelle.”

Hacker Boat negotiating deal to move manufacturing to Queensbury

“Hacker Boat Co. owner George Badcock will move his handmade mahogany boat factory from Ticonderoga to Queensbury if he is able to reach an agreement with the owner of a warehouse complex near the Interstate 87 Northway.

Badcock is negotiating with Robert Perkins, owner of Perkins Recycling at 315 Corinth Road, who has received multiple offers for the 6.4-acre property.”

The Port of Albany just shipped a GE generator weighing almost a million pounds — a big lift for the port’s future

“General Electric shipped a record 944,000-pound generator from its Schenectady factory through the Port of Albany this weekend, a move officials say cements the port’s stature as the premier destination for heavy-lift cargo in the Northeast.

“This is the beginning of the future that everybody here has been working toward,” said port general manager Rich Hendrick.”

Manufacturer and retail distributor zero in on Luther Forest tech campus site

“The Luther Forest Technology Campus in Saratoga County is on the short list to become home to a 400,000-square-foot manufacturing plant that would employ at least 130 people.

InSite Real Estate of Oak Brook, Illinois, is negotiating to bring an international manufacturer related to the food industry to a 165-acre property near the GlobalFoundries computer chip complex in the Saratoga County towns of Malta and Stillwater, according to Dennis Brobston, president of the Saratoga Economic Development Corp.”

Rivers Casino is building a sports betting lounge — here’s a look at the plan

“Rivers Casino and Resort in Schenectady has started construction on its new sports betting lounge.

Construction is expected to be completed this summer on the area within the casino, called the “Rivers Sportsbook.” The lounge will open before this fall’s NFL season, pending New York State Gaming Commission approval.”

Colonie planners get first look at Philips Medical expansion

“Colonie planning board members were scheduled to get a first look at the proposed 36,000-square foot expansion of the Philips Medical Systems manufacturing plant in Latham Tuesday night.

The expansion of the plant at 450 Old Niskayuna Road, which manufactures components for magnetic resonance imaging scanners,  is expected to preserve more than 400 jobs and create another 94 jobs over the next five years, according to an announcement earlier this month from Empire State Development. ESD is providing up to $1 million in performance-based Excelsior Jobs Program tax credits.”

State approves $10 million grant for former convention center site in downtown Albany

“New York’s economic development agency this morning approved a $10.1 million grant for Capitalize Albany Corp. to buy land on the south side of downtown Albany where a convention center was originally planned.

The proposed funding from Empire State Development would be a huge step in the city’s efforts to convert land near the Trailways/Greyhound bus station into a large, mixed-use with development with apartments, offices and entertainment.”

Port of Albany plays role in construction of airport parking garage

“One of the heaviest shipments so far this year at the Port of Albany is the 24,000 tons of steel it is currently receiving, all destined for the 1,000-vehicle parking garage being built at the Albany International Airport.

The airport is expecting 486 steel beams, all made in the United States, that will be used to support the five-story parking structure. The garage is expected to open March 31, 2020, less than a year from now.”

Albany area adds 4,200 jobs, driven by health care, hospitality

“The Albany region added 4,200 private-sector jobs year-over-year in April, good for 1.1% growth, according to the latest report from the state Department of Labor.

That was the third-highest number of jobs added in any metro area in upstate New York, behind Syracuse and Buffalo-Niagara Falls.”

GE’s power business is gaining steam again, but turnaround is still a three-year plan

“GE Power, which has a significant presence in Schenectady, is moving toward recovery, with new orders and a three-year turnaround plan.

Reuters reported on Tuesday that GE Power had booked six orders for “advanced class” turbines in the first quarter, booking more than competitors Mitsubishi Hitachi Power Systems and Siemens AG. That news prompted a rise in GE’s stock price Tuesday.”

Troy restaurateur’s next venture: receipt management service

“The unifying theme of Heidi Knoblauch’s widely varied academic and career pursuits has been critical thought.

“There’s nothing that will ever replace the time you think about things,” she told an appreciative audience Thursday at one of the monthly entrepreneurship luncheons sponsored by the New York BizLab and Clarkson University at the BizLab.”


Funding Partners