CEG Economic Development Week in Review August 12 – August 23, 2024
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CEG IN THE NEWS
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REGIONAL ECONOMIC DEVELOPMENT NEWS
Tech company eyes move to Airport Business Park in Glenville
“A “fast-growing” technology company is seeking to set-up shop at the Airport Business Park in Glenville, bringing with it a $10 million investment and 100-plus new jobs, according to the county’s top economic development official.
Ray Gillen, the commissioner of economic development and planning for Schenectady County, informed county lawmakers of the investment during Monday’s Committee on Economic Development and Planning meeting, where he urged lawmakers to move forward with selling a 1-acre parcel in the county-owned business park needed to address stormwater runoff for a proposed 65,000-square-foot manufacturing facility currently under review.”
Shipology moves to bigger warehouse space in Watervliet
“Shipping and logistics company Shipology has moved to a new warehouse with nearly four times the amount of space.
As of Aug. 1, the company now operates out of 2622 7th Ave. in Watervliet, a nearly 40,000-square-foot space. The company previously had about 10,000 square feet at Riverview Center in Menands.”
Redevelopment of Al Tech site in Colonie is goal for Advance Albany County Alliance
“Wedged between railroad tracks and a hill that rises toward Loudonville, the contaminated and long-vacant former Al Tech Specialty Steel Co. site might not at first glance seem especially promising.
But staff at Albany County’s economic development arm believe the property’s rare mix of attributes, including potential access to large amounts of power, strongly position the site to entice a major employer in a high-growth industry.”
CHIPS Act is showering New York with billions
“Two years after its passage, the $52 billion federal CHIPS and Science Act has led to New York state’s semiconductor sector being showered with billions of dollars in government subsidies and private-sector investment.
Gov. Kathy Hochul says New York has received more government funding and private-sector investment since the CHIPS Act was signed into law by President Joe Biden in August 2022.”
Flag makers push for stronger U.S.-made flag laws
“Julye Spinelli was bothered but not surprised when, during a recent visit to Washington, D.C., she found that the American flags in a gift shop next to White House were made in China.
The lack of shock stemmed from her experience as a flag maker and seller who has long battled for more protection of domestic manufacturers. She operates Saratoga Flags, which makes custom flags, banners and other materials for customers like historical reenactors or those putting on special events. She also sells domestically made U.S. flags.”
Nine Pin Cider buys longtime Albany home and next-door office building
“After a decade as a tenant, Nine Pin Cider bought the property where the business is located in Albany’s Warehouse District in a transaction that includes an adjacent four-story office building.
The $1.9 million cash deal, which was finalized last week, means Nine Pin Cider now owns the real estate housing its cidery and fermentation production area at 929 Broadway along with a 20,000-square-foot office building at 927 Broadway.”
Altamont Vineyard and Winery buys grape press and pump
“For the Altamont Vineyard and Winery, reopening post-pandemic spurred interest in the business’ scenic outdoor space.
Twenty-five variants of grapes span the vineyard’s cultivated 15 acres, with wildflowers scattered in between rows. A gazebo by a pond, adorned with a fountain, is a frequent spot for wedding ceremonies. An arch tucked in between rows of grapes is a prime location for proposals. Though the family business originally ignited from a passion for wine from Michael DiCrescenzo’s father, Louis, it has evolved into a multifaceted operation often booked with events, parties and weddings.”
NY CREATES, governor from Japan sign research cooperation deal
“Naomichi Suzuki, the governor of Hokkaido prefecture, on the northernmost island of Japan, toured the Albany NanoTech complex on Tuesday.
by David Anderson, president of NY CREATES, the state-created nonprofit that operates Albany Nanotech, and Hope Knight, CEO of Empire State Development, Gov. Kathy Hochul’s top economic development officials.”
CTDI expands presence at Rotterdam Corporate Park
“CTDI is expanding again in Schenectady County.
The Pennsylvania company (formerly Communications Test Design Inc.) will lease 200,000 square feet in an existing building at the Rotterdam Corporate Park, with plans to create about 200 jobs there, according to county officials.”
Wright Electric receives $3 million for battery development
“Wright Electric has received a $3 million federal grant to fund its Ultra-High-Energy Battery Project, which is researching and developing batteries for a zero-emission electric passenger aircraft.
The Malta-based company, founded in 2016, was one of 36 to receive funding from the Federal Aviation Administration’s Fueling Aviation’s Sustainable Transition program, which allocates money through the Inflation Reduction Act.”
F.W. Webb plans Queensbury facility on Corinth Road
“Developer Tim Barber of Native Partners LLC is seeking permission from the town of Queensbury to build a 76,200-square-foot warehouse for heating and plumbing supplier F.W. Webb.
Barber has asked the town’s planning board to allow him to divide the property, 377 Corinth Road, which is about 1 mile west of the Northway’s Exit 18, into three lots:”
