Week in Review: September 12, 2022-September 16, 2022
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CEGI N THE NEWS
Times Union: Commentary: CHIPS Act’s success depends on sound energy policy
REGIONAL ECONOMIC DEVELOPMENT NEWS
The Albany region’s No. 1 source of migrating income? Manhattan
“For decades, most of the growth of wealth and population in New York state has been centered around New York City.
In recent years, that was flipped on its head, according to federal tax data analyzed by the Business Journals.”
Albany Inno – Skidmore college student raises $2.5M for Japanese comics app startup
“Dylan Telano, a senior at Skidmore College, has raised $2.5 million to continue developing a platform for Japanese comics that he started in high school.
The seed round of funding for VoyceMe was led by Torch Capital, with contributions by M13 Ventures, River Park Ventures, Bessemer Venture Partners and Red Sea Ventures.”
Walmart wants to build ‘Market Fulfillment Center’ in Halfmoon
“An engineering firm representing Walmart submitted a site plan to the Halfmoon town planning department for a 36,500-square-foot addition that would be built on the north side of the 206,000-square-foot store at 1549 Route 9 where there’s an outdoor pick-up area.
“The [Market Fulfillment Center] will serve as an upgrade to the existing pickup initiative at Walmart with the growing number of people using the pickup option for groceries and other merchandise,” according to the project narrative from Dewberry Engineers in Danville, Virginia. “Walmart is seeking to streamline this process to allow customers to receive their product in a faster manner.”
GE Research in Niskayuna to survive, grow as company splits, GE says
“General Electric Co. will keep its GE Research operations in Niskayuna intact as GE works to split into three separately-traded public companies the next two years.
The decision assures the 1,200 scientists and engineers there now will keep their jobs.
Albany Inno – Albany startup founder combining AI and biopharma to enter new industry
“With plans for three business models, the founder of a new biopharma research and development company in Albany expects to make a big impact in the industry.
Xing Che created an AI-enabled drug discovery company, YDS Pharmatech, during the pandemic. It’s now based in the Innovate 518 startup incubator at the new ETEC building on the University at Albany campus.”
A look at Albany airport’s $100M terminal expansion, other upgrades
“Albany International Airport will receive $60 million for a $100 million project to expand its terminal and provide more space for its security checkpoint and concessions — the largest state grant the airport has received.
Gov. Kathy Hochul announced the money on Wednesday as part of $230 million given to upstate airports for modernization, which also included the Binghamton, Watertown, Syracuse, Rochester, Ogdensburg, Saratoga County, Sullivan County and Adirondack airports.”
Albany Inno – After growing revenue 1,260%, the CEO of StackNexus expects to do it again (or more)
“StackNexus has had its biggest revenue growth ever over the past three years. The rate was 1,260%, specifically, putting the Clifton Park company at No. 490 in its first time on the Inc. 5000 list of fastest-growing companies.
“Things have changed quite drastically, but for the better,” said Suman Akula, founder and CEO of StackNexus, a Salesforce partner founded in 2017 that builds applications for public sector clients.”
