October 25 2019

Week in Review: October 21 – October 25, 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:


Business Review: The states and counties where people moving to the Albany region are coming from

Business Review: Hodgson Russ Industry Roundtable: Economic Development   

Business Review: Why 18 Albany region business executives and officials made a trip to the Middle East

Times Union: It’s becoming (slightly) cheaper to live in the Capital Region

RPI News: Manufacturing Day to Educate High School Students About Future Careers


Delgado, Gillibrand announce $50 billion for rural communities

“To some New York legislators, there is an evident disconnect between rural, upstate communities and the federal government. U.S. Rep. Antonio Delgado, D-19, and U.S. Sen. Kirsten Gillibrand, D-N.Y., hope to bridge the gap with new proposed legislation they announced Monday.

The Rebuild Rural America Act proposes an overhaul of the current federal funding model with a $50 billion, multiyear federal grant solely for rural communities across the country. The grant would address complex rural issues ranging from rural broadband to aging infrastructure to child care.”

Cree Completes first Silicon Carbide Wafer Test at SUNY Poly

“Cree Inc., the company building a manufacturing facility in Marcy, has created its first silicon carbide test wafers at SUNY Polytechnic Institute in Albany.

The test was a collective effort between Cree, SUNY Poly and the New York Center for Research, Economic Advancement, Technology, Engineering, and Science (NY CREATES).”

Gaming, esports cafe coming to downtown Troy

“A New York City-based esports and gaming hot spot is opening a location in downtown Troy.

Waypoint Cafe plans to open a shop in one of the retail spaces below the City Station apartment complex on 6th Avenue, said Gino Gigante, the cafe’s owner. Gigante anticipates opening in either late 2019 or early 2020 and employing about 10 people.”

Capital Region jobless rate tied for lowest in state at 3.4%

“The Albany-Schenectady-Troy metropolitan statistical area was tied for the lowest jobless rate in the state in September, at 3.4 percent, the state Department of Labor said Tuesday.

Also coming in at 3.4 percent were the Kingston and Long Island metro regions. The Glens Falls metro was tied for second-lowest at 3.5 percent.”

Death Wish Coffee hires first-ever chief operating officer, prepares for major growth

“Death Wish Coffee — the hugely popular skull-and-crossbones-branded coffee roasted in Saratoga County — is preparing for major growth with the hiring of its first chief operating officer.

Death Wish has hired Mike Pilkington, the former president of Sysco Albany.”

Esperanto in Saratoga Springs expanding with new bakery

“Esperanto, the fast-casual Caroline Street restaurant, is expanding with a 2,700-square-foot commercial bakery, the Saratoga County Prosperity Partnership announced Wednesday.

The addition of the Milton Street bakery will add up to 40 jobs, SCPP said, with the restaurant hoping to expand its selection of grab-and-go products to college dining spaces, entertainment venues and convenience stores.”

Delmar meadery is first with farm license

“An Albany County craft beverage producer is the first state-licensed farm meadery to produce mead from New York honey, state officials said Thursday.

Royal Meadery in Delmar is owned and operated by Gregory Wilhelm, a beekeeper and brewer. Royal is the first beneficiary of a measure signed into law by Gov. Andrew Cuomo last December that created a farm meadery license similar to the farm licenses that already existed for breweries, distilleries, wineries and cideries.”

Schenectady solar firm secures funding

“Distributed Solar Development has secured a $250 million fund to pay for distributed generation projects through 2020.

The deal is financed by Morgan Stanley, Silicon Valley Bank and Fifth Third Bank, and was announced Wednesday.”

Funding Partners