Week in Review: October 3, 2022-October 7, 2022
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:
CEGI N THE NEWS
WNYT News 13: Capital Region has fast-growing gig economy
Post Standard: Micron would change Syracuse area for decades to come. Are we up to the challenge?
REGIONAL ECONOMIC DEVELOPMENT NEWS
Albany Inno – Shipology uses strength in numbers to help small businesses
“Shipology started because of the pandemic and dead plants.
Keri Wytrwal was running her e-commerce business WetPlants, which sold and shipped live plants for fish tanks, during the pandemic. But because she wasn’t selling enough volume to qualify for a discounted rate from other carriers, she used the U.S Postal Service, and with Covid-related shipping slowdowns, her plants were ending up dead on arrival to customers.”
Albany’s chance at national chip lab jumps with Micron’s upstate plan
“Micron Technology, one of the world’s largest computer chip manufacturers, has picked the Syracuse suburbs for a new $100 billion semiconductor factory that could create 50,000 jobs and likely cements Albany Nanotech as the choice for a new billion-dollar national chip research lab.
New York state has offered Micron $5 billion in state tax breaks to land what is the largest economic development deal in state history and one of the largest semiconductor projects in U.S. history. Micron would spend $20 billion through 2030 as it ramps up operations. Construction would begin in 2024. New York would add another $500 million in job training support.”
Praxis president buys Andritz building on the Hudson River in Glens Falls
“The founder of Praxis Powder Technology Inc. has acquired a two-story brick building on Pruyn’s Island in Glens Falls as he prepares to move his titanium parts manufacturing business from a much smaller site 6 miles away in Kingsbury.
Joseph Grohowski purchased the 53,425-square-foot building from Andritz Inc. for $2.1 million on Sept. 27, according to documents filed with the Warren County clerk’s office. Grohowski purchased the 6.2-acre property through an entity called Adjacent Holdings LLC.”
Four Albany-area contractors compete for piece of offshore factory construction at Port of Albany
“mes H. Maloy Inc. could be awarded a contract this month to construct a receiving center at the entrance of a proposed $350 million offshore wind tower manufacturing complex at the Port of Albany.
The century-old Loudonville firm was among four area contractors to compete for the job.”
Plan for South Street in downtown Glens Falls includes apartments and commercial space
“SpringCity Development Group will begin its $30 million overhaul of South Street in downtown Glens Falls this winter after the city planning poard approved a multiphase project late Tuesday that will renovate three vacant buildings while adding a five-story apartment complex to reimagine an aging commercial corridor.
The subsidiary of Bonacio Construction in Saratoga Springs will build nearly 90 apartments and nearly 14,000 square feet of commercial space at the corner of South and Elm streets, an area that served as a focal point for nightlife in the Warren County city with multiple bars and restaurants in the 1970s, ’80s and ’90s.”
