Week in Review: March 15 – March 19, 2021
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:
CEG IN THE NEWS
Times Union: Wadsworth Center plans need funding in this year’s state budget
Saratogian: Report: Creative industries sector among hardest hit by coronavirus in Capital Region
Albany Business Review: Keybank to expand Capital Region community investment plan
REGIONAL ECONOMIC DEVELOPMENT NEWS
Second chip fab in Malta only a ‘question of when,’ CEO says
“For Tom Caulfield, it’s only a question of when GlobalFoundries will build a second computer chip factory in Malta, home to its Fab 8 complex.
With Congress and former President Donald Trump having approved a $25 billion incentive program to expand domestic chip production last year, Caulfield recently told Reuters that if GlobalFoundries can obtain some of that funding — through what’s known as the CHIPS Act, then Fab 8.2 is a go.”
Amazon targets Precision Valve & Automation factory in Colonie as next Albany-area distribution hub
“Amazon wants to convert the Precision Valve & Automation headquarters and manufacturing complex in Colonie into its next Albany-area distribution hub.
The global online shopping giant has filed plans with the town to transform a 17.4-acre complex on Mustang Drive, Fonda Road and Green Mountain Drive. The property is located just east of Route 9 in the northeast corner of the town. It is owned by Precision Valve & Automation founder Tony Hynes.”
Schumer funds boost airport, CDTA
“A new round of federal aid to assist airports and transit agencies hard hit by the coronavirus was announced Monday by U.S. Senante Majority Leader Charles Schumer. In the Capital Region, the Capital District Transportation Authority will receive $51,653,331, while the Albany International Airport will receive $13,395,263.
Officials at CDTA welcomed the news.”
Union College-born startup SunThru developing high-efficiency window pane
“A startup born at Union College in Schenectady is developing a material that could lead to a more energy-efficient, cost-effective triple-pane window.
SunThru is developing a window pane out of silica aerogel, a very low-density material with high thermal insulation properties. The pane is created by replacing the liquid of a gel with a gas, which leaves a solid yet extremely light material.”
Construction to start on Albany Skyway connecting downtown with riverfront
“The $13 million Albany Skyway, an elevated park over Interstate 787 in downtown Albany, is expected to be completed by the end of this year.
Work will start this month to convert a little-used highway ramp into a pedestrian and bicycle path that connects downtown with the Hudson River, according to a statement released Tuesday by Gov. Andrew Cuomo’s office.”
CEO Of EDC Warren County Sees Potential Of Economy To Be Balanced And Sustainable
“Under the leadership of newly-appointed president Jim Siplon, the EDC Warren County continues to focus on attracting new business to the area.
Siplon, a former EDC board member, has firsthand experience with the process.”
Our Ability releases AI-powered chatbot to help people with disabilities connect to job openings
“John Robinson never thought he’d be running a tech company, but that’s what his Albany consulting firm, Our Ability, is turning into.
Our Ability in December released an AI-powered software platform called Jobs Ability that makes it easier for people with disabilities to complete professional profiles and connect with relevant job openings.”
