Economic Development Month in Review: May 2018
For the Top Economic Development News of the Month, CEG selects news articles about projects or developments that promise to improve and/or transform the Capital Region’s economy, particularly those that related to manufacturing and initiatives outlined in Capital 20.20, a five-year, multi-pronged plan for bringing economic prosperity to the entire region.
To learn about more the Capital Region’s economic development news from the past month, see CEG’s Economic Development Week in Review posts:
Contractor hired to build Queensbury warehouse, fabrication center
“The owner of Alltek Energy Systems and Firetek Sprinkler Systems has hired J. Luke Construction to build a 12,000-square-foot warehouse and fabrication center in Queensbury, New York.
Mike O’Connor, president and owner of the Waterford heating, ventilation and fire sprinkler contracting firms, is adding a second location in Queensbury to give his two companies room to grow. The project will be located on a 1.7-acre lot that O’Connor purchased a year ago in the Carey Industrial Park near Exit 18 of the Interstate 87 Northway.”
Site near Albany Med best for Wadsworth, report says
“Consultants hired by the state have suggested that 18 acres of land off New Scotland Avenue near Albany Medical Center would be the best site for a proposed new $750 million Wadsworth Center, the state’s public health laboratory.
In a report filed with the state, the consulting firm Deloitte found that the best place to build a new and consolidated Wadsworth campus would be near its existing David Axelrod Institute building at 120 New Scotland Ave.”
Albany angel group makes new investment in prosthetics
“Eastern New York Angels is making a second, $100,000 investment in Create Orthotics & Prosthetics, a 3D printing company.
ENYA invests and mentors early-stage technology companies within 75 miles of the Albany, New York area. The group, managed by Joe Richardson and Dick Frederick, invests anywhere from $50,000 to $250,000 per company.”
Startup using weather data to improve drone flight
“A weather startup is creating jobs in upstate New York, and partnering with University at Albany to get better forecasts for drone operators.
TruWeather Solutions LLC, uses technology to cut costs for weather-sensitive businesses, such as drone, trucking and other logistics companies, as well as government agencies.”
GE Global Research to lead Navy laser-printing project
“General Electric researchers will lead an effort to develop ways to replace aging U.S. Navy ship and plane components with new ones fabricated by laser printers under a $9 million contract GE announced this week.
Much of GE’s work on the project will be done at the Niskayuna headquarters of GE Global Research, which already has laboratories working on the rapidly growing field of additive technology. “
New organization to lead high-tech economic development
“State university and development leaders have created a new organization to lead high-tech research and economic development and have named an industry veteran to run it.
New York Center for Research, Economic Advancement, Technology, Engineering and Science, or NY CREATES, is a 501(c)(3) non-profit. It is expected to build on reforms at two nonprofits affiliated with SUNY Polytechnic Institute, which was rocked by the September 2016 arrest of its president on bid-rigging charges.”
Death Wish Coffee continues to grow
“Death Wish Coffee Co. of Round Lake burst on to the national scene with a 30-second TV ad during the 2016 Super Bowl. Next month, it will help meet the resulting demand in far-flung places like Arizona and Ohio in a new brick-and- mortar way: on Walmart store shelves.
Both steps in its story came from competitions: It won a small-business contest sponsored by Intuit QuickBooks to appear in a Super Bowl ad; it then won space on Walmart’s shelves through its Open Call program, a pledge by the retail giant to add more Made in America products.”
County seeks $650K to expand creamery and GTel
“Columbia County officials applied for grant money to help the Hudson Valley Creamery and local telecommunications company GTel expand as a way to create new jobs.
The county board of supervisors Economic Development Committee passed two resolutions at its regular meeting Monday that would allow the Columbia Economic Development Corporation to administer $650,000 in grant money from the state Housing Trust Fund Corporation to help the Livingston-based creamery and GTel, located in Germantown, expand operations within the county.”
RPI student develops innovative gun safe
“The debate over gun control has become so polarizing, it can be difficult for people with opposing views to find common ground.
“However, one point both parties can agree on always is the safety aspect,” said Timothy Oh, founder and CEO of Vara.”
SABIC plans expansion in Bethlehem
“SABIC is planning an expansion at its plastics factory on Route 32 in Selkirk. Rob Leslie, director of economic development and planning for the town, said that Saudi-based SABIC is planning to add 10,000 square feet of office space and renovate lab space in its technology development building while adding a storage warehouse. In February, SABIC announced plans to increase capacity at the Selkirk plant of its Ultem and Noryl resins. The plant employs 530 people.”
Albany biotech firm gets $100,000 in funding
“Glauconix Biosciences, a biotech firm based at SUNY Polytechnic Institute that was started by a SUNY Poly graduate student, has raised $100,000 for its glaucoma drug development technology.
Excell Partners of Rochester is investing the money into Glauconix, which previously had obtained an investment from Eastern New York Angels, the Albany-based investment fund.”
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