Week in Review: September 23 – September 27, 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
The Evening Tribune: ‘A rising tide for rail’
REGIONAL ECONOMIC DEVELOPMENT NEWS
SingleCut Beersmiths opens taproom in Clifton Park
“The anticipated taproom at Clifton Park’s SingleCut Beersmiths is officially open for business.
The New York City-based brewery that purchased the Shmaltz Brewery off Van Patten Drive last year, which has taken off as a full-fledged brewery, held a soft opening for the taproom a few weeks ago, and is now operating at full hours.”
Report: Tourist spending up in Adirondacks
“Tourists spent nearly $1.5 billion in the Adirondack region last year, up slightly from $1.4 billion the year prior, a recent report shows.
The latest statewide tourism impact study, commissioned by I Love NY and compiled by travel data firm Tourism Economics, underscores the Adirondack region’s heavy reliance on its tourism sector despite its six counties raking in just 2% of the more than $71.8 billion total traveler spending statewide.”
$1 billion semiconductor plant to be built in Mohawk Valley
“Cree Inc., a public company headquartered in North Carolina, today announced plans to invest $1 billion in a new semiconductor manufacturing plant in Marcy, near Utica.
The news comes almost three years after an Austrian semiconductor manufacturer, ams AG, dropped plans to invest $2 billion to build a computer chip factory on the site in Marcy. That project was expected to create 1,000 jobs.”
Essity’s $3.6 million investment in South Glens Falls could cut recycled material costs in half
“Napkin and paper towel maker Essity is spending $3.6 million to install equipment in South Glens Falls in a move that could cut the factory’s recycled paper costs in half.
The company is installing a screening and separating system that will allow it to remove plastic, glass and other contaminants from the 15 or so tractor trailer loads of recycled paper that are delivered every day.”
Work under way for Bus Rapid Transit route
“The Capital District Transportation Authority’s newest Bus Rapid Transit, or BRT, line is expected to begin operation between Albany and Waterford by the autumn of 2020.
Trips should be quicker than on the traditional services, thanks in part to fewer stops along the way, plus traffic signals programmed to give buses the green light. Increased service frequencies, meanwhile, should make the service more convenient for passengers.”
Groundbreaking set for $13M U-Haul project in Clifton Park
“Ground will be broken during a ceremony at 2 p.m. Thursday for a $13 million, 155,000-square-foot regional U-Haul facility at #7 Synergy Park off Kinns Road in Clifton Park.
Among those attending will be Saratoga Economic Development Corp. President Dennis Brobston, U-Haul Area District Vice President Levi Parmerter, MJ Properties owner Mark Rekucki and Phil Barrett, Clifton Park supervisor and chairman of the Saratoga County Economic Development Committee of the county Board of Supervisors.”
City Center groundbreaking ceremony ushers in economic boost to downtown
“It is said that good things come to those who wait.
Monday’s ground breaking ceremony on the site immediately below the convention, conference and meeting center in the heart of downtown Saratoga Springs was a giant leap forward toward making the paid, new 600 space parking structure a reality.”
Cre8ivology opens at The Shirt Factory
“A new artist workshop space, Cre8ivology, has opened at The Shirt Factory.
Artist Rachael Rhianna has set up shop in Suite 307 on the third floor of the building at the corner of Lawrence and Cooper streets. The space will offer introductory art classes in a variety of media for all ages, according to a news release.”
