Week in Review: December 13 – December 17, 2021
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CEG IN THE NEWS
Saratogian: EG awards nearly $50K in reshoring, supply chain grants to 5 Capital Region MFGs
REGIONAL ECONOMIC DEVELOPMENT NEWS
Saratoga County surpasses $100 million in private-sector investments for second year in a row
“Companies and developers agreed to spend $110 million to expand in Saratoga County for the second year in a row, as demand grows for electrical components, alcohol and waterfront housing.
By the end of December, nonprofit Saratoga Economic Development Corp. will have secured 10 investments that will add 182 jobs in what already is New York’s fastest-growing county.”
BelGioioso Cheese expanding in Schenectady County following Polly-O brand acquisition
“Mozzarella, provolone and gorgonzola maker BelGioioso Cheese Inc. will invest up to $6 million to expand its presence in the Glenville Business and Technology Park in Schenectady County.
The Wisconsin company hired LeChase Construction of Schenectady to renovate and convert part of a 120,000-square-foot vacant warehouse into cold storage and offices.”
“First, Ecovative entered the packaging market. Then, it went for the food market. Now, it’s ready to enter another: leather goods.
Ecovative said Wednesday that it’s working to bring its vegan leather material to market in collaboration with fashion companies Bestseller – which owns brands including Only, Jack & Jones and Vero Moda – and PVH Corp. (NYSE: PVH), which owns brands including Calvin Klein and Tommy Hilfiger.”
Celebrate: SUNY Schenectady chocolatiers are part of bean-to-bar movement
“In a high-tech downtown lab, where stainless steel machines rattle and whir, the sweet smell of chocolate pirouettes through the air while 18 students learn to make magic.
A cynic might say the SUNY Schenectady County Community College culinary arts students are really just learning to make chocolate, but there’s magic in that. Think about it: They somehow turn beans into bonbons and chocolate bars.”
MTX Group’s Das Nobel on plans to open an Albany headquarters
“The founders of MTX Group are planning to locate a second headquarters in Albany and create 500-1,000 jobs over five years.
The company is in the process of selecting a site, said Das Nobel, co-founder and CEO of MTX Group.”
Olana receives $1M in funding for Art Center
“Assemblywoman Didi Barrett, D-Hudson, visited the Olana Historic Site in Greenport on
Thursday to announce the $1 million in funding she helped secure has been awarded to Olana’s caretakers.
The funds will be allocated toward the construction of a new visitor entry and orientation facility that will be named the Frederic Church Center for Art and Landscape.”
Latham Group experiencing growth of going public, but challenges remain
“The months since becoming a publicly-traded company have been good for Latham Group, the 65-year-old manufacturer of residential in-ground swimming pools that brags it holds “the No. 1 market position in North America in every product category in which we compete.”
After raising $437 million in its initial public offering in April, the Latham-based company expanded into a new pool line with another acquisition last month, and accelerated plans for a new factory in Canada about an hour north of Watertown.”
Cohoes receives nearly $3M in NYS Regional Economic Development Council Grants
“The Spindle City has been awarded $2.91-million in New York State Regional Economic Development Council funding. The four selected projects will advance the city’s Restore Historic Cohoes, Cleaner Greener Cohoes, and Infrastructure revitalization initiatives”
