Week in Review: August 16 – August 27, 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:
CEGIN THE NEWS
Times Union: Fastest growing in the Capital Region: Why population ballooned in Saratoga County
Times Union: Port and business executives pitch Albany area at offshore wind trade show
Albany Business Review: Number of graduates with STEM degrees increases at Capital Region colleges
REGIONAL ECONOMIC DEVELOPMENT NEWS
Plan for new Shaker Museum in Chatham moving forward
“Plans for an $18 million permanent home for the Shaker Museum in Chatham are moving forward although the fundraising campaign was delayed because of the pandemic.
‘When you can’t meet with people [in person] it’s hard to get engaged,” said Lacy Schutz, museum director. “Also, we just thought things were in such upheaval we’d rather see people give to food banks and to people who needed help. We thought there were organizations that needed it more.’”
Plug Power’s says focus on ‘green’ hydrogen is winning strategy
“Earlier this week, a study published by researchers from Cornell and Stanford universities threw cold water on the use of hydrogen as an alternative to fossil fuels used to power vehicles, heat buildings and produce electricity.
At first glance, that would appear to be bad news for Plug Power, the Latham fuel cell maker, which powers its fuel cells with hydrogen and has made huge bets on becoming a major hydrogen producer in the future.”
Argyle Cheese Shop In Hudson Falls Allows Customers To See How Products Are Made
“The Argyle Cheese Farmer, which purchased a spot for expansion in Hudson Falls in 2020, is continuing to sell its popular products, but with an intention to also educate people on how it is made.
The owners, Marge and Dave Randles, said they were looking to expand from the 1,200-square-foot processing facility in Argyle, as demand for products had outgrown the original Cheese House. The Lewis Super Grocery building in Hudson Falls went up for sale and it had the necessary infrastructure they were looking for, including a commercial kitchen, processing and warehouse space. There is also room for an observation/educational area, and a sizable parking lot.”
ITrakNeuro aims to help doctors more easily analyze MRI and MRA data
“A professor at SUNY Poly is developing technology that uses artificial intelligence to help health care providers identify vascular issues in the brain.
The startup ITrakNeuro is developing software and hardware meant to help medical imaging professionals more easily analyze MRI and MRA data and make diagnoses.”
Union Street Brewing Co. planned for Hudson
“An unfinished warehouse and empty lot in Hudson would be converted into a microbrewery with a taproom and outdoor beer garden under plans submitted to the city.
Paul and Emma O’Donnell of SPE Ventures LLC want to open Union Street Brewing Co. on Union Street across from the police station.”
Saratoga County builder wants to construct a marijuana growing and production plant in Moreau
“Cerrone Builders wants to construct a $4 million marijuana growing and production plant on a 43-acre property along Route 9 in Moreau.
The third-generation home builder is seeking permission from the town to construct a single-story, 30,000-square-foot building at 1588-1590 Route 9, just south of Toadflax Nursery and across the road from Cerrone’s corporate offices.”
Albany International Airport in line for $28 million in federal infrastructure funding
“Albany International Airport is in line for $28.7 million in federal funding for improvements as part of the $1 trillion infrastructure bill that the Senate passed last week.
The money would allow the airport to expand the terminal and alleviate long security lines that often back up to the pedestrian walkway from the parking garage.”
“Precision Valve & Automation moved into its 76,000-square-foot factory in Halfmoon last week and founder Tony Hynes already is planning to expand.
Hynes invested $11 million to relocate his plant and corporate headquarters from Colonie into the former Halfmoon SportsPlex to increase production and free up space for Amazon to open a distribution center at Precision Valve’s old campus.”
Dang!, Rumblecade, ToothPike Games among Troy indie video game startups
“There are multiple indie video game studios working quietly in the Capital Region.
Their names may not be as widely known as the famous ones, but they’re still part of a growing video game cluster in the Capital Region.”
Amazon signs lease with Precision Valve founder Tony Hynes, planning distribution center in Colonie
“Precision Valve & Automation founder Tony Hynes has finalized a 10-year lease with Amazon and the online retail giant will take control of his Colonie campus on Nov. 1.
Amazon plans to convert the manufacturing complex and two adjacent parcels totaling 17.4 acres into a distribution center, handling 28 tractor trailer loads and 306 van loads per day.”
SmartShield helmet could bring augmented reality to hazardous chemical tank inspections
“Three current and former SUNY Polytechnic Institute students are using augmented reality to develop the next generation of an inspection safety helmet that could save manufacturing companies hundreds of thousands of dollars.
The startup is developing the prototype of a high-tech safety helmet — called SmartShield — meant to decrease the amount of time it takes for workers to inspect the inside of hazardous chemical tanks and simplify the inspection process.”
Curia to spend $35M expanding Rensselaer pharmaceutical plant
“Curia announced Thursday that it would expand the pharmaceutical manufacturing capacity at its Rensselaer facility.
The Albany-based contract R&D and manufacturing firm, known until recently as AMRI, said the move would give it greater ability to fill both small-scale and large-volume orders for active pharmaceutical ingredients, or APIs.
IBM’s new microchip developed in Albany boosts artificial intelligence
“IBM unveiled a new high-powered computer chip developed in Albany that it says is the first-ever designed to efficiently use artificial intelligence to perform high-volume, complex tasks such as banking transactions while simultaneously scanning them for fraud – before the transactions are completed.
The new chip, called the IBM Telum Processor, was developed with Samsung of South Korea, IBM’s manufacturing partner, using 7 nanometer architecture.”
“The Port of Albany plans to construct a bridge and five buildings totaling more than 560,000 square feet in Bethlehem and the southern tip of Albany to position manufacturers to start making offshore wind towers in New York for the first time.
The 400-acre port has outlined details of the proposed $350 million manufacturing complex as it seeks site plan approval for welding, assembly, testing and storage areas for wind turbines destined for the Atlantic Coast off Long Island.”
“The Troy startup United Aircraft Technologies has won a $1.1 million contract from the U.S. Army, its biggest contract yet.
UAT was one of 13 small businesses from across the country selected recently by the Army for a Small Business Innovation Research phase two grant toward technological innovations.”
Cement plant owner is conducting study on waste-to-fuel (timesunion.com)
“A subsidiary of the company that operates the LaFargeHolcim cement plant here is undertaking a government-funded study to see how they can use construction waste as potential fuel for cement kilns. They will also look at ways they can recycle the waste into new cement.
Geocycle, which is a subsidiary of LaFargeHolcim, which operates the cement plant Route 9W, has a $3.5 million contract with the U.S. Army Corps of Engineers”
Kennedy: Regeneron’s antibody ‘cocktail’ in spotlight
“Regeneron Pharmaceuticals’ antibody “cocktail” to fight COVID-19 is back in the spotlight after the governors of Florida and Texas pushed last week to open new infusion centers to make the treatment more readily available to counter the delta surge slamming their hospitals.
Texas Gov. Greg Abbott even received the treatment – as have former President Donald Trump, adviser Rudy Giuliani and ex-New Jersey Gov. Chris Christie – after suffering a breakthrough infection despite full vaccination.”
