CEG Economic Development Week in Review August 7 – August 11, 2023
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:
REGIONAL ECONOMIC DEVELOPMENT NEWS
The James Newbury Hotel in Coxsackie opens
“The 47-room James Newbury Hotel recently opened in Coxsackie, the second phase of what has been a major investment along the Hudson River in Greene County.
The five-story, $13 million hotel is next to The Wire Event Center, a repurposed industrial building that opened late last year and can accommodate about 600 people.”
Four Fat Fowl makes cheese ‘worth clucking about’
What do chickens have to do with cheese? Nothing, really. But the whimsically named Four Fat Fowl, a cheese shop and creamery in Stephentown, offers a slice of local history while winning awards across the country.
With operations based in the former Stephentown Elementary School on Route 43, Four Fat Fowl is a family-owned business. Willy Bridgham wears the hat as cheesemaker; his sister, Josie Madison; is the general manager; and Willy’s wife, Shaleena, heads sales and marketing.”
Troy apartments: More than 1,000 new units are in the pipeline
“Troy is in the midst of an apartment boom.
Across the city, developers over the past year have received approvals for 541 units — both new construction and renovations of old buildings.”
Albany Inno – Inspect Point completes its first acquisition
“Troy-based startup Inspect Point has completed a deal for its first-ever acquisition.
The fire protection software company announced last week the acquisition of FormLink Systems, a competing fire inspection platform based out of South Carolina.”
Troy’s 1st Playable Productions moves to another downtown building
“Troy video game developer 1st Playable Productions has moved to a different downtown building, opening up space at the corner of Third and River Street.
Tobi Saulnier, CEO, said via email that the move out of the offices at 297 River Street came after the company’s workflow changed during the pandemic, leaving them with an office too large for six in-person employees.”
Windham Mountain plans giant expansion to attract visitors year-round
“Windham Mountain plans to spend between $70 million and $90 million over the next few years to expand the resort and ski mountain into a destination that could attract visitors year-round.
Details of the plan are not set in stone, but proposed additions include townhouses, single-family homes and a hotel, according to an initial site plan given to the town of Windham Planning Board earlier this month.”
GlobalFoundries sees huge opportunites in defense, auto industries
“These may be tough times for GlobalFoundries and its computer chip manufacturing competitors as demand for consumer electronics has fallen amid high inflation.
The company’s $1.85 billion in sales during the second quarter of the year is down 7 percent from last year. Net profit was $237 million, down 10 percent from 2022.”
