CEG Economic Development Week in Review – May 27 – June 2, 2017
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
National Grid nears completion of $77 million transmission line
“National Grid is putting the finishing touches on a $77 million project that straddles Saratoga and Washington counties and most Capital Region customers don’t even know about it.
What’s known as the Mohican-Battenkill Rebuild Project, a two-year effort to rebuild a 14-mile stretch of transmission lines between the so-called Mohican substation in Easton and the Battenkill substation in Moreau, is largely out of view from most of the public.”
Green energy company considering battery project near GlobalFoundries fab
“Key Capture Energy has signed a land lease agreement with the Luther Forest Technology Campus in Malta, New York and is considering an “energy storage facility” there, according to the Times Union.
The Albany renewable energy company is looking at a site near GlobalFoundries’ Fab 8 computer chip plant.”
One room seeks all the answers at RPI
“Imagine being in a room to ask questions of one of the world’s most powerful computers. An artificial intelligence containing more information than the largest library, it can recognize you, hear you, see what you are pointing at, and even notice if you might be perplexed or inattentive. It knows all of your earlier work and might even anticipate your questions.
Such a room is now being created at Rensselaer Polytechnic Institute under a partnership with technology giant IBM and its supercomputer Watson, which first gained worldwide attention in 2011 when it beat humans in the TV show Jeopardy.”
Albany port picks contractors for ‘heavy cargo’ expansion
“Jersen Construction was awarded a contract worth up to $6.3 million to build a warehouse that will allow heavier turbines and generators to be shipped in and out of the Port of Albany.
The Albany Port District Commission selected Jersen Construction of Waterford, New York, during a special meeting Tuesday to oversee structural work for a signature piece of the port’s effort to grow and expand its stature as the primary inland port in the Northeast for large manufacturers and exporters.”
Albany airport awarded $2.5M in federal funding for projects
“The Albany County Airport Authority received almost $2.5 million in federal funding for three projects at Albany International Airport in Colonie, New York.
U.S. Senators for New York Chuck Schumer and Kirsten Gillibrand announced the funding as part of a larger $17 million statewide allocation yesterday.”
Nuclear power key element of firm’s Mount McGregor plan
“A Spa City firm has plans to transform Mount McGregor, and the world’s energy landscape.
Mark Adams founded Global Energy Research Associates LLC in Saratoga Springs because he believes the Capital Region is a hub for the nuclear power industry, with the navy’s West Milton training site, General Electric Company and RPI’s research reactor in Schenectady, all in close proximity to one another.”
Capital Region among the best for clean energy patents
“The Capital Region is among the best places in the nation for clean energy companies, according to a Brookings Institution report released this week.
The area produced the second-highest number of wind energy patents between 2011 and 2016, and the 14th most solar patents, according to the study. Only the Greenville, S.C., metropolitan area had more in wind patents.”
Thirst for power fuels contracts, expansion at Northeast Power Systems
“The owners of Northeast Power Systems Inc. are preparing to invest more than $700,000 to increase production at their Queensbury, New York headquarters amid growing demand from mining companies, oil and gas producers and power producers.
Founded in 1995 by twin brothers Paul and Peter Steciuk, NEPSI is hiring 10 welders, assemblers and electronics technicians this summer as the company expects to finish this year with a record $30 million in revenue.”
GE setting up mobile technology lab at Schenectady High
“GE Power on Thursday rolled out the Brilliant Career Lab it is giving to Schenectady High School, a $250,000 trailer packed with computer-controlled manufacturing tools designed to pique student interest in technology careers.
The prototype on display Thursday was developed at General Electric’s Boston headquarters and introduced in that city’s public schools. The company decided to place the next working model in Schenectady, where the company was born 125 years ago.”
