CEG Economic Development Week in Review March 11 – March 15, 2024

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

WNYT News 13: Capital Region farming space drop

REGIONAL ECONOMIC DEVELOPMENT NEWS

In Bethlehem, warehouses planned for two sites

“Developers are planning to build warehouses on two industrial sites in Feura Bush and Selkirk that are located near the Thruway and the CSX rail line.

One of the projects at 200 West Yard Road in Feura Bush would include 114,000 square feet of mostly warehouse space. It would also include office space. Owens Corning, which has an insulation factory down the road, has warehouse space next door to the West Yard site. Another warehouse is located on the other side that is used by several companies, including Iron Mountain.”

In a lab underground, UAlbany is testing ‘safe’ nuclear energy

“In a lab more than two stories underground, a UAlbany professor has taken the first steps toward what he says is a safer form of nuclear energy: One that doesn’t ever explode, meltdown or emit harmful radiation for a millenia.

The reaction involves lithium, which is now used in rechargeable batteries in everything from cell phones to electric cars.”

Why Menlo Micro picked New York for its semiconductor factory

“When Menlo Micro was looking for a space to locate its first fab, co-founder and chief technology officer Chris Keimel said the company toured all over the world.

‘We looked at other countries, Europe, we looked at Asia,” Keimel said. “Minnesota, Florida, Texas, Arizona, California, Indiana — a lot of different places.’”

Heat pump startup Energy Catalyst picks Troy for $10M expansion

“Watervliet-based geothermal heat pump maker Energy Catalyst has plans to repurpose and occupy a vacant warehouse in Troy’s Lansingburgh neighborhood, a move that will allow the company to expand its manufacturing capacity.   

The company plans to invest more than $10 million in the 18,500-square-foot complex, according to founder Matt Desmarais.”

Latham fuel cell maker Plug Power wins $75 million grant from DOE

“Hydrogen fuel cell manufacturer Plug Power has been awarded $75.7 million in two grants from the U.S. Department of Energy to refine and expand its manufacturing output at factories it operates both here in the Capital Region and in Rochester.

U.S. Senate Majority Leader Chuck Schumer, D-NY, made the announcement Wednesday afternoon.

The DOE grant money will come out of the $1 trillion infrastructure bill that President Joe Biden signed in 2021. Many of the grants coming through that bill focus on development of renewable energy sources and clean energy technologies being developed to combat climate change.”

Crane Stationery acquired by WP Strategic Holdings

“Albany-based consulting and investment firm WP Strategic Holdings has completed its acquisition of Crane Stationery and will revive the centuries-old luxury paper brand.

The price was not disclosed.

Todd Kletter, managing partner of WP Strategic Holdings, said he is aiming for the revived company to resume operations on Friday.”