Economic Development Week in Review – April 16 – April 20, 2018
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CEG IN THE NEWS
CEG’s Kennedy in Times Union: Columnist expressed narrow view of region
REGIONAL ECONOMIC DEVELOPMENT NEWS
Flomatic Corp.’s $3.3 million project will add jobs, speed up production
“Bo Andersson and Flomatic Corp. are investing $3.3 million to add production, research and training space at the company’s valve manufacturing plant in Glens Falls, New York.
Flomatic hired Queensbury general contractor Rozell Industries this spring to construct a 20,000-square-foot addition that will include a newer, faster $1 million epoxy coating and drying system to speed up production.”
Yesfolk Tonics looking to expand
“Local business Yesfolk Tonics is introducing customers to new tastes as it expands throughout the region.
The Collar City-based Yesfolk Tonics is a family-run fermented beverage brewery specializing in probiotic tonics. Kombucha, water kefir and ginger beer are among the company’s products.”
Troy tech company develops leather made from mushrooms
“Ecovative Design has developed a new biomaterial that mimics leather made from mycelium, the roots of a mushroom.
The Troy, New York, tech company is licensing its technology to Bolt Threads, a materials startup out of Emeryville, California, that plans to use the leather-like material for bags and other products. The new leather, called Mylo, looks and feels like animal leather, but can be made in days instead of years.”
Old Catskill Game Farm property gets new permits
“Permits to transform the former Catskill Game Farm property were granted to the owners last month.
Catherine and Ben Ballone, who own the former Catskill Game Farm, 400 Game Farm Road, Kiskatom, received permits last month to hold events up to 250 people, and open four glamping sites as well as an inn.”
Albany Molecular gets $39.5M NIH contract renewal
“Albany Molecular Research Inc. won renewal of a National Institutes of Health contract that will be worth as much as $39.5 million over the next ten years.
The original contract was awarded in 2011.”
UAlbany breaks ground on major research center
“The University at Albany is looking to expand its footprint in a big way, breaking ground Tuesday on a research and academic center on the Harriman state campus.”
University and state officials kicked off construction Tuesday at a 12-acre parcel on the southwest corner of the Harriman campus, a few minutes walk to the heart of the UAlbany campus. Officials are planning to complete construction in time for university staff to move into the facility in summer 2021 and open to students that fall.”
Gannon’s List grows from daily email to business model
“What started out as a daily email has transformed into a business model for Peter Gannon.
Gannon, the president of the Arsenal Business & Technology Partnership, started Gannon’s List last July as a daily email of top job openings in the region. He also marketed the list on Twitter.”
Newly renovated theater reopens in Glens Falls
“The newly renovated Park Theater in downtown Glens Falls reopened this week.
The 220-seat theater will host live performances and has flexible space for events, Empire State Development said in a press release. It also includes a new 70-seat restaurant named after former theater owner Dr. Harold Kirkpatrick.”
Grant Money Is Available To Help Businesses In Downtown Glens Falls Improve Facades
“The city of Glens Falls is accepting applications for facade improvements to businesses located in the downtown area.
The $100,000 made available for the improvements are part of the $10 million the city received from the state for its Downtown Revitalization Initiative. The money will be awarded to businesses who meet the criteria of the grant.”
BelGioioso Cheese to make mozzarella in Glenville
“Wisconsin’s BelGioioso Cheese said it will build a new $25 million, 100,000 square-foot cheese factory in Glenville to make mozzarella and other cheeses as part of an expansion of its local operations.
BelGioioso already operates the former Cappiello’s plant in Schenectady and would add 46 new jobs and retain 31 existing local jobs as part of the expansion into the new plant under a deal brokered by New York state that would give the company up to $850,000 in state tax credits.”
Land owner wants to build warehouses in Rotterdam
“A property owner in Rotterdam, New York, is seeking approval from town planners to build warehouses totaling 70,000 square feet.
Fabio Floccuzio of Fab-Co Development LLC owns 14.6 acres along Burdeck Street and Princetown Road bounded by railway tracks to the west and a residential lot and metal building to the south.”
Schenectady is an emerging economy among older industrial counties, Brookings report finds
“The economy in Schenectady County, New York, is doing well compared to its industrial peers nationwide.
That’s according to a new report by the Brookings Institute that looks at 70 counties that used to be major manufacturing hubs, and how they are transitioning after losing many of those jobs in the past few decades.”
Pasta factory rises at business park
“Coxsackie is rolling in the dough, for pasta, that is.
An organic pasta manufacturer has set up shop in the former Ducommun Building on Stacy Road.
Sfoglini’s, formerly of Brooklyn, moved into the Greene Business and Technology Park Greene County Economic Development, Tourism & Planning Director Warren Hart announced at a March Greene County Legislature committee meeting.”
