CEG Economic Development Week in Review September 23 – September 27, 2024

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

Luizzi to develop former junkyard in Green Island

“Luzzi Cos. is building a 200,000-square-foot warehouse/office on a former junkyard in Green Island that will be leased to the New York State Office of General Services.

Site work has started on the facility at 25 Tibbits Ave. (also known as 147 Cannon St.), with an estimated cost of $25 million. Completion is expected in a year.”

MyBacon parent company Ecovative raises $28M

“Green Island startup Ecovative Design LLC, the parent company of MyForest Foods, has raised another $28 million just over a year after its last $30 million raise.

In total, the company has raised over $145 million across its funding rounds since its founding in 2007.”

Passport for Good acquired by Albany tech company Superluminal

“Local startup Passport For Good is being acquired by Albany-based tech company Superluminal.

Passport For Good is a web-based platform meant to more easily keep a record of volunteer service hours and other community engagement, primarily for K-12 students. The software aggregates this data into a non-academic transcript students can then use for college and job applications.”

Mixing sports and faith in Bernardo brothers’ growing apparel company

“NOVUS Clothing Company’s sleek, gleaming showroom is lined with sports apparel and posters of athletes who are brand ambassadors, including Harrison Butker, kicker for the Kansas City Chiefs, and Zach Remillard, a second baseman with the Chicago White Sox.

Against a backdrop of surging growth and a streak of doubling revenue year after year, the Bernardo brothers, business partners and best friends, are a world away from selling custom-printed tank tops out of their dorm room to baseball teammates at the University of Maine.”

Former Albany Colonie stadium site could be new National Guard headquarters

“The state wants to build a $120 million headquarters for the New York Army National Guard’s 42nd Infantry Division on land that was formerly the site of the Heritage Park minor league baseball stadium in Colonie.

The 140,000-square-foot facility at 770 Albany Shaker Road would replace the division’s aging, cramped headquarters in Troy and provide offices for 60 full-time soldiers and about 500 part-time soldiers who gather on weekends for assembly and training.”

Regeneron buys former Quad facility in Saratoga Springs

“Biotechnology firm Regeneron Pharmaceuticals Inc., one of the region’s largest employers, confirmed Friday it has acquired commercial printing company Quad’s shuttered manufacturing facility in Saratoga Springs.

Regeneron (Nasdaq: REGN) did not disclose the purchase price.”