Week in Review: September 16 – September 20, 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:
REGIONAL ECONOMIC DEVELOPMENT NEWS
Industrial park proposed for Queensbury near Northway Exit 18
“The JAG Group is planning big improvements at the 33 acres it owns near the former Native Textiles building off Carey Road in Queensbury, near Northway Exit 18.
It envisions building five warehouses as well as an expansion on the one existing building on the property.”
Construction of ‘The Market’ On South Street To Begin In Summer, End In 2021
“Three buildings in Glens Falls will be demolished for the construction of The Market, a 10,000-square-foot, one-story glass-and-brick building to be used for the year-round farmers market and community events.
Scheduled to be razed are the former Juicin’ Jar at 49 South St., the former OTB building at 51-57 South St. and the former Daily Double at 59-63 South St.”
DiNapoli: Schenectady at ‘forefront’ of smart city efforts
“The Electric City has sought to rebrand itself as a smart one.
The vision was largely affirmed on Monday with a visit from state Comptroller Thomas P. DiNapoli, who touched down for the launch of a report on how governments statewide are deploying new technology.”
Saratogian building on way to becoming brewery
“If you’ve known many news people, the idea of a newspaper building becoming a coffee cafe and brewery, under one roof, will seem pretty appropriate.
But doing it right is still hard work. Walt & Whitman Brewing is already a year into a process that will turn the iconic Saratogian building at Lake and Maple avenues into a state-of-the-art coffee cafe and craft brewery, while also maintaining the architectural integrity of a wood-and-brick building old enough to have seen horse-drawn wagons at its loading dock.”
More improvements announced at Gore, West, Killington
“The nights are getting colder and ski mountains in the area are gearing up for another season on the slopes.
Recently, Gore Mountain Ski Area announced improvements for winter which include a new ticketing system to get you on the lifts faster.”
Espey’s sales jump $14 million in two years
“Sales at Espey Manufacturing & Electronics Corp. have increased by 62%, or $14 million, over the past two years, amid growing demand for transformers and power supplies used in freight locomotives, ships, jets and military vehicles.
Sales grew to $36.5 million during the last fiscal year, which ended June 30, according to an earnings report filed Monday with the U.S. Securities and Exchange Commission.”
Economic development plan to be drafted for Malta
“The Saratoga County Prosperity Partnership will help create an economic development plan for the town of Malta.
It is part of the Next Wave Communities initiative by the Saratoga County-based economic development agency, which has similar efforts underway in the towns of Moreau and Galway.”
Schumer says GlobalFoundries CEO is ‘optimistic’ about jobs
“U.S. Sen. Charles Schumer says in a meeting Tuesday with GlobalFoundries CEO Tom Caulfield he was told that the computer chip maker is “optimistic” about job growth at the company’s Fab 8 factory in Malta.
Last year, GlobalFoundries laid off more than 400 workers at the plant in a cost-cutting move and strategy shift, but Schumer says Caulfield was bullish on “prospects of adding good-paying jobs to the Malta plant” in the future, especially because there is unused clean room space in Fab 8.”
How this Texas-based tech company is finding big growth in New York
“Tyler Technologies Inc. — which develops school bus routing software — has added more than 30 new employees at its Latham offices in the last few years as the company has brought on hundreds of new clients.
Ted Thien, senior vice president and general manager of Tyler’s transportation group, said a big part of that growth has come from introducing a new product that integrates Tyler’s routing technology with tablets for school bus drivers. The tablets were beta tested in the Saratoga Springs City School District.”
Bridge Street Theatre in Catskill a better kept secret
“It’s an open secret that most of the truly exciting and adventurous summer theater takes place in the second stages of the major theater festivals.
Places like the Williamstown Theater Festival, Barrington Stage Company and Shakespeare & Company often offer work that is more challenging in the smaller spaces than is happening on the mainstages.”
More warehouses expected for this region
“When Walmart built one of the region’s first big distribution centers in Fulton County more than 20 years ago, other firms were eager to settle nearby to provide ancillary services, such as trucking, to the retail giant.
Now, with e-commerce juggernaut Amazon said to be planning a huge warehouse operation in Rensselaer County, other firms are taking note, but their interest this time is different, says Richard Sleasman, president and managing director of the Albany office of commercial real estate firm CBRE.”
Sales tax receipts show strong summer
“Good summer weather and a strong summer tourism season are showing up in Warren County’s tourism receipts.
The county Treasurer’s Office has gotten its state sales tax payments from the state for July and August, which show large increases over the same months last year.”
