Week in Review: November 23 – November 27, 2020
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
Malta works with chamber on new economic development web site
“The Saratoga County Chamber of Commerce will run an economic development web site for town of Malta.
The web site — MaltaWorks.org — is part of a broader effort by the town’s economic development committee led by town board member Tim Dunn to promote existing businesses and attract new ones.”
The challenge: Get a place at the table from the start
“In 2019, The ReWire Group moved to a new business model. The company’s focus was on events to sign up new clients for community solar projects.
By early 2020, Alan Evans, a founder and partner at ReWire, realized the company would have to pivot again.”
Schenectady’s Mill Lane project nearly complete, nearly full
“he price tag kept climbing and the finish line kept getting moved, but the first and biggest piece of the Mill Lane Artisan District is done.
More important, and perhaps more remarkable given the events of this year, the huge building stretching along State Street between Church and Ferry streets is almost entirely spoken for: All but one apartment and all but 2,000 square feet of commercial space are leased.”
Cohoes comes together as business owner opens third store in city
“Local entrepreneur Kelsey Knutsen recently celebrated the ribbon cutting for her third business in the Spindle City, with community support that the city is becoming known for.
Haven Home Décor, located at 130 Remsen St., is Knutsen’s passion project, joining Café Monocle and The Local as the newest member of her family of small businesses.”
Chris’ Coffee is up and running at new Latham warehouse
“Chris’ Coffee Service has moved into its new 64,000-square-foot warehouse at 348 Old Niskayuna Road, enabling the company to consolidate its equipment and raw materials into one building — and more than double its roasting capacity.
‘It’s not just extra space, everything is so much more organized now,’ said founder and president Chris Nachtrieb.”
Regeneron Covid-19 cocktail gets emergency authorization from federal government
“Regeneron Pharmaceuticals received emergency authorization to use its experimental antibody cocktail to treat adults and some children suffering with mild to moderate cases of Covid-19.
The U.S. Food and Drug Administration issued the limited approval Saturday, less than two weeks after fellow drugmaker Eli Lilly won emergency approval for its antibody treatment.”
Free Form Fibers raises $2.5M to scale up production of ceramic fibers
“The Saratoga Springs startup Free Form Fibers recently closed on a $2.5 million fundraising round.
The company’s technology creates ceramic fibers that can be used to make durable parts for the nuclear and aviation industries. Just about ready to sell the product it has been developing since 2009, the company expects to begin placing large orders in the next several months as a handful of companies finish testing the product.”
Patriot Tank, a fuel hauler, purchases land from the Port of Albany
“Gasoline, jet fuel and propane hauler Patriot Tank Lines has acquired 9.1 acres from the Port of Albany for $1.61 million.
The Syracuse company and its owner, Case Marshall, purchased 900 S. Pearl St. late last month, approximately one year after submitting an offer to purchase the former site of Durham School Services bus company.”
Adirondack Winery wants to double capacity, expand wholesale distribution business
“Adirondack Winery is positioning itself to more than double production capacity to 75,000 gallons a year to keep pace with demand for its growing wholesale business.
The 13-year-old family business wants to construct an 11,100-square-foot building at 395 Big Bay Road in Queensbury near Exit 18 of the Interstate 87 Northway.”
Rotterdam project targets a booming sector of region’s economy
“The 200,000-square-foot building that Galesi Group is developing at its Rotterdam Corporate Park is intended to meet growing demand for warehouse and distribution space in the Capital Region. The more than $10 million project doesn’t yet have tenants lined up, but as consumers do more online shopping, the whole retail supply chain is undergoing changes.
Galesi recently completed a 250,000-square-foot building at the Rotterdam Corporate Park whose tenants are FedEx and Home Depot, according to the Schenectacy County Metroplex Development Authority.”
Planners weigh permit for WYLDE proposal | Columbia County
“The Hudson Planning Board approved the indoor phase of a conditional use permit for WYLDE Hudson, a community and office space in the works at 255-259 Union St. A decision on a permit for the outdoor use phase is pending.
The property is owned by Galvan Foundation and can be accessed from South Third Street. WYLDE Hudson co-creators Hillary France and Lucus Krump, of Hudson, do not plan to make physical changes to the structure.”
