Week in Review: December 9 – December 13, 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:

REGIONAL ECONOMIC DEVELOPMENT NEWS

Capital Region rates high as a future innovation hub

“The Collar City once set the pace for the nation’s industrial growth. But that was in the mid-19th Century. And when Troy failed to adapt, it was left behind.

The city’s cautionary tale and other similar hazards are described in a new report by the Washington, D.C.-based Brookings Metropolitan Policy Program and the Information Technology & Innovation Foundation. The study, citing the growing gap between the haves and have-nots, calls on the federal government to support future innovation centers as a strategy to spread prosperity beyond the coastal cities where it’s now concentrated.”

Pipe maker could spur investments in one of New York’s slowest-growing counties

“A $16 million investment by a Texas water and natural gas pipe manufacturer in the Washington County town of Fort Edward could help revive one of the slowest-growing counties in New York state.

WL Plastics Corp. of Fort Worth last week was awarded up to $871,500 in sale tax incentives and $1.19 million in property tax breaks. The Warren-Washington County Industrial Development Agency approved the incentive package to convince the company to pick upstate New York over competing sites in Connecticut and Ohio.”

State to award $750M for economic development next week

“This year’s Regional Economic Development Council awards will be announced Dec. 19.

The ceremony will be held at the Albany Capital Center in downtown Albany beginning at 12:30 p.m.”

Roosevelt Baths & Spa Major Renovations Are Complete; Clients Have More Spa Options

“Roosevelt Baths & Spa, the historic spa in Saratoga Spa State Park, recently completed renovations to every treatment room and added new massage therapy options, enhancing the facility experience.

The upgrades complement the major renovations that Delaware North completed at the Gideon Putnam, also located in Saratoga Spa State Park, in 2018. Delaware North operates both properties on behalf of the New York State Office of Parks, Recreation and Historic Preservation.”

Movie filmed in Troy nominated for Golden Globe Award

“Empire State Development (ESD) congratulated 22 New York-based productions that earned 46 nominations for the 77th Annual Golden Globe Awards.

Among those receiving a nomination was “Motherless Brooklyn,” which was partially filmed in downtown Troy, in December 2018.”

Momentum grows after PVA acquires 3D prosthetics startup

“Prosthetists from New York, California, Louisiana, Texas and Utah will arrive in Colonie over the next month for training on one of Precision Valve & Automation’s newest product lines.

The suburban Albany robotics manufacturer’s new PVA Medical unit is gaining momentum since Precision Valve founder Tony Hynes acquired 3D prosthetics startup Create Orthotics & Prosthetics on Sept. 27.”