Week in Review: October 10, 2022-October 14, 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:
CEG IN THE NEWS
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REGIONAL ECONOMIC DEVELOPMENT NEWS
Pretty Rugged founder to appear on ‘Shark Tank’
“Tracy Slocum’s innovation to stay warm, dry and fashionable while outdoors turned into a business in Latham called Pretty Rugged.
Launched several years ago, the company sells what it calls the ‘world’s first blanket with luxe faux fur on one side and waterproof, windproof, washable RuggedTex fabric on the other.’”
Shaker Logistics invested and grew through the Covid-19 pandemic
“Shaker Logistics is on pace to handle 30,100 shipments this year, a 57% increase since the freight hauler and broker decided to invest $6 million three years ago to move its headquarters from Latham to Hudson River Road in Waterford.
“We were like a crab in our small shell,” said Shaker Logisitics chief executive Jason Smith. ‘If we didn’t get a new shell, we couldn’t have grown the way we have. I don’t think we realized how restrictive it was when we operated out of multiple small properties.’”
SUNY Poly training program seeks behind-the-scenes workers from all walks of life
“Michael Fancher has spent his career in the semiconductor industry trying to figure out how to bridge the “valley of death.”
That’s a metaphor for the major hurdles that await technologists and inventors trying to bring their products to market. Those pitfalls often involve getting start-up funding or late-stage capital needed to begin volume manufacturing.”
Three Capital Region companies vye for top prize in FuzeHub contest
“Three Capital Region companies are finalists in a business commercialization contest held by Albany-based FuzeHub that is offering a grand prize of $150,000 to the winner.
FuzeHub is an Albany nonprofit that gets state funding and helps manufacturers in New York bring their products to market.”
WyreStorm, an audio-video manufacturer, is quadrupling its space in Saratoga County
“WyreStorm, a manufacturer of audio and video equipment for sports bars, convention centers, courtrooms and boardrooms, is investing up to $5 million to quadruple its operations center in Clifton Park.
The move comes as the Covid-19 pandemic continues to fuel demand for webcams, speakerphones and other audio and video devices, contributing to a projected 45% increase in revenue this year, said WyreStorm chief operating officer Don Seguin.”
AgroChem prepares for expansion in W.J. Grande Industrial Park
“Sanitizer and disinfectant maker AgroChem is preparing to construct a 25,000-square-foot-plus addition at its Saratoga Springs factory to add storage capacity and increase production by 20%.
‘Unrelentless price increases and supply chain disruptions are two of the big reasons we want to expand,” said president Rob DeMarco. “We could have used the space two years ago.’”
