Week in Review: August 1 – August 5, 2022

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

Albany Inno – New York City venture capitalist on why he invested in Skidmore College student

“All the success that Dylan Telano has seen so far with his digital entertainment startup has come from countless hours working in his Skidmore College dorm room.

That determination, along with the product vision, were among the reasons that Red Sea Ventures led the seed round this year for Telano’s startup, VoyceMe.”

Albany Nanotech strong contender for CHIPS Act semiconductor funding, leaders say

“The Capital Region is another step closer to potentially getting billions in federal dollars for economic development.

The $52 billion CHIPS Act was passed by both houses of Congress last week and expected to be signed by President Joe Biden this week. Next, local leaders are continuing to push for the Albany Nanotech Complex to be named as the headquarters for the National Semiconductor Technology Center.”

DSD Renewables continues expansion of its solar projects

“DSD Renewables has raised more than $1 billion and hired nearly 200 people since it was spun out of General Electric in 2019.

With new ownership by BlackRock and a backlog of projects, DSD expects even more growth to come, according to Greg Fabso, chief financial officer for the Schenectady-based company.”

Paper tissue and towel company hopes to expand its Eagle Bridge facility

“A paper tissue and towel business is looking to expand its facility in Eagle Bridge and, with it, add new specialized jobs in Washington County.

Company officials hope to do this with help from the Warren-Washington Industrial Development Agency.

Morcon Inc., which also has a facility in South Carolina, has filed an application with the Warren-Washington Industrial Development Agency seeking tax abatements.”

Michelle Brandriss started Name Bubbles at home. Now it ships products to 50 countries

“After sales volume nearly tripled last summer, Michelle Brandriss decided to double manufacturing capacity at Name Bubbles, the label printing company she started out of her basement 13 years ago.

Orders rolled in so fast in July 2021 that it took up to 10 days to print orders instead of the typical one- to three-day turnaround.”