CEG Economic Development Week in Review – December 31, 2018 – January 4, 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:

CEG IN THE NEWS

REGIONAL ECONOMIC DEVELOPMENT NEWS

GlobalFoundries says revenue grew in 2018

“GlobalFoundries’ Fab 8 computer chip factory in Saratoga Springs may have laid off hundreds of workers recently in an attempt to cut costs, but revenues were way up in 2018.

Ron Sampson, the general manager of Fab 8, told the Albany Business Review for a story that ran on Dec. 28 that revenues were up 33 percent compared to 2017.”

Company that hauls cars planning new Selkirk facility

“Diversified Automotive, which moves new cars from the Selkirk rail yard and delivers them to car dealers, is planning to build a new truck repair facility for its drivers on Creble Road in Selkirk.

Plans have been submitted to the town of Bethlehem that show the 35,000-square-foot facility would have 17 bedrooms for drivers to stay overnight.”

State grants to help turn Saratoga Performing Arts Center into a cultural destination

“With the help of two recently announced state grants, totaling nearly $1.7 million, the Saratoga Performing Arts Center will enhance its facilities and let tourists know about its world-class entertainment offerings.

The grants — designated for a multimedia marketing campaign, improvements to concession areas and additional education space — fall under Gov. Andrew Cuomo’s Regional Economic Development Council Initiative for economic and community development.”

Bestpass surpasses 500,000 transponders

“Bestpass said Thursday its toll-payment transponders are now in more than 500,000 trucks.

The devices is like an E-ZPass, but for commercial fleets rather than individual drivers. The Colonie firm handles billing for nearly 6,000 client companies, saving them time and money at toll barriers nationwide.”