CEG Economic Development Week in Review November 20 – November 24, 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

GlobalFoundries starts student loan repayment plan for U.S. employees

“U.S.-based employees of GlobalFoundries will soon be able to receive tax-free financial assistance from the company to pay down student-loan debt, the chipmaker announced last week.

The new benefit program is part of what the company described as a multimillion-dollar investment to strengthen the semiconductor workforce by mitigating the cost of higher education and training.”

Downtown Albany’s midcentury bus station gets grant to prepare it for redevelopment

“With one downtown Albany bus station under contract to be sold to local owners, another one has been drawing interest from prospective developers.”

SEDC’s Greg Connors on his priorities for Saratoga County economic development

“Greg Connors has been involved in economic development in some way in Saratoga County for decades.

From his time working in real estate at Connors-Howard Realty in Mechanicville, to his two terms as Stillwater town supervisor and most recently his role as senior leader of government relations for GlobalFoundries, Connors has seen Saratoga County transform from a mostly rural area to a manufacturing and industrial powerhouse.”

Energy Catalyst awarded $5M for Capital Region heat pump factory

“Watervliet-based heat-pump manufacturer Energy Catalyst Technologies has won more than $5 million from the U.S. Department of Energy to establish a manufacturing facility in the Capital Region.

The five-year-old company partnered with Arkansas-based manufacturer Hydro-Temp Corporation on its application for the funding. The team was awarded more than $10.8 million, of which Energy Catalyst stands to receive about $5.3 million.”