November 15 2019

Week in Review: November 11 – November 15, 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:


Troy Record: Roundtable seeks solutions for manufacturing employers


Applied Materials’ $850M research center now open in Albany

“Applied Materials officially opened its new research center at SUNY Polytechnic Institute in Albany, roughly one year after it was announced in a blockbuster press conference last year.

The center is known as the Materials Engineering Technology Accelerator, or META Center, that is designed to help computer chip manufacturers prototype new materials and devices.”

AlbanyCanCode opens path to veteran’s new career

“Last spring, Ramon Vazquez got his big break. He’d spent 10 years in the Air Force and then earned a bachelor’s degree in English from Fordham University. At 40, he’d been working at an office supply store.

ut it was a course he was taking in JavaScript, a programming language for websites, that would open up a whole new career for him.”

German firm completes work on new U.S. headquarters

“LSSMAC Corp., which produces and sells a variety of machinery for metal processing and construction technology applications,  will hold a grand opening and ribbon cutting ceremony for its new U.S. headquarters building at 17 Route 146 in an industrial and business park in Halfmoon at 10:30 a.m. Friday.

The company also is planning a second phase that would double the size of the new building. LISSMAC is based in Bad Wurzach, Germany and employs 360 people worldwide.”

Adirondack Beverage plans $15M expansion in Glenville

“Adirondack Beverages is planning a $15 million expansion that would add 50 jobs and 100,000 square feet to its sprawling complex in the Glenville Business and Technology Park.

The Glenville Planning and Zoning Commission on Monday will consider the proposal in two parts: subdividing a 15-acre parcel off 70 acres of land controlled by the Galesi Group and then building the warehouse upon that parcel.”

CDTA partnering with new shuttle service at Albany Amtrak station

“When Trent Griffin-Braaf looked at the van transportation options at the Albany-Rensselaer Amtrak station, he didn’t like what he saw.

Griffin-Braaf said he thought existing van companies were overcharging passengers, and that he could provide a better, cleaner service for less.

That’s why he’s hoping his company, Tech Valley Hospitality Shuttle, can be a more attractive option for travelers arriving to Albany by train.”

United Group will have HQ in Troy’s City Station North

“United Group of Companies Inc. plans to begin construction on its 175,000-square-foot City Station North project, on the west side of Sixth Avenue between Congress and State streets, early next year, the company said Wednesday as it released interior and exterior renderings of the $38.74 million project.

The mixed-use building at 141 Congress St. would provide 20,000 square feet of Class A office space on the top two floors of the four-story building for United Group’s headquarters, which would relocate from 300 Jordan Road in the Rensselaer Technology Park in North Greenbush.

Saratoga County Hospitality & Tourism Index underlines thriving industry

“The Saratoga County Prosperity Partnership unveiled its inaugural Saratoga County Hospitality & Tourism Index on Wednesday, providing detailed data regarding the economic impact of one of Saratoga County’s largest and most important sectors.

This index, the latest in a series by the Saratoga County-based economic development organization, showed hospitality and tourism as a thriving industry that generates nearly $1 billion in annual economic impact in Saratoga County.”

HVCC to offer energy efficiency training programs

“Those looking to enter the clean energy and energy efficiency field will soon have a new training opportunity.

Hudson Valley Community College’s Office of Workforce Development was recently awarded a $226,212 grant from the New York State Energy Research and Development Authority (NYSERDA) to create training programs that will develop a pipeline of skilled workers for clean energy jobs.”

A vision for Lark Street’s future: More people, fewer cars and a better sense of place

“The large cobblestone intersections on Lark Street may add to the charm of Albany’s Center Square neighborhood, but that’s where their benefits end.

Traffic rumbling over the stones can shake building foundations, damaging the structures. And the uneven surface is hard to traverse on foot or two wheels.”

Albany startup wins $200,000 startup competition, one-year residency in Utica

“United Aircraft Technologies, a veteran-owned startup based in Albany, won a $200,000 business competition this week that comes with a year-long residency at the Griffiss Institute in Rome, outside of Utica.

The Innovation & Development Entrepreneurial Accelerator (known as IDEA NY Mohawk Valley) is a business accelerator competition and 12-month program that incentivizes entrepreneurs to build their businesses in the Mohawk Valley region. As part of the program, United Aircraft Technologies will be required to reside in the Mohawk Valley for at least one year.”

Construction under way on Quackenbush Square hotel, apartments

“Construction crews are working on the foundations of what will be an eight-story, 132-room Hyatt Place hotel and a 134-unit apartment building, to be called Quackenbush Square. The project, which is expected to cost less than $100 million, also will have 14,000 square feet of retail space and is being developed by Syracuse-based Pioneer Companies.

The Quackenbush Square development, which received planning board approval last April, has been in the works at the vacant 1.7-acre site for more than three years. The planning board had tabled the project after early bids from contractors came in 30 to 40 percent over budget, sending the developer back to the drawing board.”

Developer Sonny Bonacio to bid on South Street redevelopment project

“Developer Sonny Bonacio said Thursday that he plans to bid on the project to build The Market on South Street.

Bonacio said he is waiting for the city to develop its final criteria for the Downtown Revitalization Initiative, but he has some concepts in mind — none he was willing to share.”

Funding Partners