Week in Review: January 30, 2023-February 3, 2023
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
NSH, the former Simmons Machine Tool, on verge of expansion near Albany
“NSH USA Corp. has hired Jackson Demolition Services to tear down an old welding shop on Broadway in Menands next month as the century-old manufacturer prepares to expand its factory amid growing demand for equipment used to make parts for the rail, aerospace and defense industries.
Within the next two months, NSH will start interviewing building contractors interested in replacing the welding shop with a 25,000- to 30,000-square-foot building that will serve as a factory and showroom for products that allow customers to make everything from train axles and wheels to components for jet engines and landing gear.”
Employment Training For Adults Program Gets Grant To Help People Enroll In Its Sessions
“The Gene Haas Foundation recently awarded the local Employment Training for Adults (ETA) Machine Tool Technology program a grant to assist with student tuition and program needs.
ETA is affiliated with the Washington-Saratoga-Warren-Hamilton-Essex BOCES. The grant will help people enroll in the Machine Tool Technology program and prepare themselves for a successful career.
First Prize Center plans call for apartments, hotel just off Everett Road
“Real estate developer Richbell Capital LLC on Monday outlined its vision for the Tobin’s First Prize site, a decrepit former slaughterhouse and meatpacking plant that was demolished to make way for a large, long-planned redevelopment near Exit 5 of Interstate 90.
The only artifact left standing is a tall smokestack that will be leveled in the coming months.”
Albany Inno – MyForest Foods prepares to enter new market with its latest product
“The follow up to MyForest Foods’ vegan bacon will be a mushroom-based alternate to beef jerky, the company announced Tuesday.
Like the bacon product, called MyBacon, it will be made from the the rootlike structures of mushrooms, known as mycelium. The new product will be called MyJerky.”
Albany Inno – Video game studio hunts for office space in Saratoga County after all-remote start
“When Rushdown Studios was founded in 2021, it was entirely remote. And studio director Kirk Becker anticipated it would be that way for a while.
The video game studio employs 20 people in New York state and elsewhere. Rushdown does business through contracts with larger game companies that are often located outside of New York, meaning that a component of the business would always be remote.”
Polyset Co. in Saratoga County adding capacity after 2022 sales record
“Polyset Co. cranked out $1.9 million in orders in four separate months last year.
The Stillwater chemical and adhesive manufacturer did not have the equipment or the space to go any faster.”
Pretty Rugged rides wave of orders after ‘Shark Tank’ appearance
“Tracy Slocum has seen sales soar and invested in new equipment at her Latham business Pretty Rugged since appearing on the TV show “Shark Tank” three months ago.
“We finished the year strong, and started the year strong,” said Slocum, CEO and founder of the company, which makes faux-fur blankets, scarves and other products that are waterproof.”
“Era-defining events, as if colliding, have coalesced to ignite a semiconductor revolution in the United States.
Amid China’s renewed claims to Taiwan (the world’s most prolific source of microchips), supply chain chaos unleashed by a pandemic and the historic new investment of the U.S. government in semiconductor manufacturing, chipmaking has come to America. The recent flurry of billion-dollar semiconductor investments in several U.S. states is widely viewed as the leading edge of a powerhouse industry — a strategic supplier of countless, crucial other sectors — that relies on a unique combination of brawn and brains. Brains, especially.”
