Week in Review: November 4 – November 8, 2019
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CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Brewmageddon 2020, a festival and friendly competition for Northeast craft brewers, is being organized for Feb. 8 at the Schenectady Armory Center.
Frog Alley Brewing Company, which sits near the armory in the Mill Artisan District, is hosting the event. It said Thursday that the event will be a showcase for the brewers as well as their beer — brewery staff will be required to be on hand and to interact with the attendees of the event.”
“Cree Inc.’s decision to establish a silicon carbide semiconductor wafer fabrication facility at the Marcy Nanocenter is good news for the Capital Region. It is also a validation of the innovation-based economic development strategy that New York state has pursued for over two decades under a bipartisan succession of governors. Attracting a manufacturing investment from the South to New York is a considerable achievement, and in addition to Cree, major new investments by IBM and Applied Materials in the Capital Region have been announced, further validating the state’s strategy.”
“Gov. Andrew Cuomo on Tuesday announced Schenectady has won $10 million from the state to use toward revitalizing its downtown.
The money is part of the state’s annual Downtown Revitalization Initiative, which awards $10 million for economic development to 10 downtowns, one in each region of the state.”
“New York’s senior senator toured the Port of Albany on Monday, viewing upgrades made with a $17.6 million federal grant he helped land in 2016.
Sen. Charles Schumer said the money was used to help replace a warehouse, reconstruct a terminal, rebuild a port roadway and improve safety.
Schumer said he is now working to secure $24.8 million in federal Department of Transportation funding to continue the port’s expansion, including as a staging and supply area for offshore wind energy projects, which he said could spur outside investment of hundreds of millions of dollars and creation of 1,600 jobs.”
“With a cruise in a 1932 Packard that once transported Gov. Franklin D. Roosevelt, Gov. Andrew M. Cuomo on Wednesday heralded the opening of the Northway’s new Exit 3 and improvements to Exit 4.
In a news conference at the Desmond, Cuomo announced that all ramps at the two exits would open Wednesday, bringing to a close the state’s effort to improve access to the Albany International Airport and surrounding communities in Colonie.”
“Big changes could be coming to State Street, including an influx of affordable housing.
The Galvan Foundation announced it is planning a 75-unit mixed-income and commercial development as part of its Depot District on State Street, just above Seventh Street.”
“A Fort Worth, Texas firm called W.L. Plastics Corp. is planning to build a plastic pipe factory in Fort Edward that will open next year and employ dozens of workers.
‘We are very excited to have W.L. Plastics locate in New York and become part of the Fort Edward and Washington County community,’David Fink, senior vice president of W.L. Plastics said in a statement. ‘We think this is a terrific location to service our customer base in the region, and we believe the town, county, and workforce will be a very good fit for our operation.’”