Economic Development Month in Review: July 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:
American Air unit to open Albany maintenance base
“American Airlines Group’s Piedmont Airlines will open a maintenance base at Albany International Airport to service its growing fleet of Embraer 145 regional jets. Piedmont expects to begin hiring to fill more than 50 positions at the base next month.
The Piedmont operation will be the second airline base at the airport dedicated to the 50-seat Embraer 145s. United Express carrier CommutAir already occupies two hangars where it maintains its own Embraer 145 fleet and employs about 100 people.”
Power plants lead to record month at Port of Albany
“Construction of power plants in downstate New York and western Pennsylvania fueled nearly 20,000 hours of work over the past two months for lift operators and dock hands at the Port of Albany.
Ships from China and Vietnam loaded with generators and steam recovery equipment led to a 48 percent increase in longshoremen work hours in May and June, compared to the same period last year.”
The Beekman Boys are targeting a larger home shopping audience with HSN
“Beekman 1802 is bringing its goat milk soaps and beauty products to HSN, the 24-hour television network that reaches 90 million homes and is always selling something, from blenders and treadmills to clothing and luggage.
Brent Ridge and Josh Kilmer-Purcell, will make their first HSN on-air appearance on Tuesday, July 31 at midnight EST — the most popular viewing time for the network. They will be selling their Goat Milk Beauty collection, which has beauty products ranging from $28 to $137.”
Rensselaer Polytechnic Institute leads $1.4 million project on robot-assisted manufacturing
“Advanced Robotics for Manufacturing (ARM) has awarded $1.4 million in project funding to Rensselaer Polytechnic Institute as part of its first round of funding to strengthen U.S. manufacturing. ARM selected projects that will generate timely impact on the national manufacturing landscape and serve as examples of ARM’s mission.
The project focuses on advanced robotics manufacturing and will develop an operator-guided, semi-automatic assembly process using industrial robots integrated with multiple sensors. The goal of the project is to improve manufacturing productivity by enhancing the operator’s capabilities through advanced robotics, and appropriately applying the technologies that capitalize on the strengths of the robotics (e.g., precise manipulation) and the operator (e.g., decision-making).”
Richbell Capital buys First Prize Center
“A Saratoga Springs developer has acquired the former Tobin’s First Prize plant, clearing another hurdle in plans to turn the long-derelict property into a mixed-use housing, commercial and entertainment center.
Richbell Capital announced the purchase Thursday, which was financed through Pioneer Bank. The Albany Business Review reported that the plant was purchased for $4 million, according to a deed filed in the Albany County clerk’s office.”
Tax breaks, building plans approved for new $55.9 million Ayco headquarters in Latham
“Ground clearing is expected to start this month on a $55.9 million, 149,000-square-foot corporate headquarters for financial services firm Ayco Co. now that the town of Colonie has approved the site plan and tax breaks for the developer.
“I’m very pleased,” said David Buicko, CEO of The Galesi Group, after the Colonie Industrial Development Agency voted unanimously Wednesday afternoon to award tax exemptions for the building on land that has been vacant for 20 years.”
Hudson announces 13 projects to receive funding from state
“The city of Hudson will spend $10 million from New York state on 13 projects to rejuvenate its downtown.
Gov. Andrew Cuomo announced the projects this week. The city of 6,400 people was the one chosen in the Capital Region, which had six downtowns competing for the state money from the 2017 Downtown Revitalization Initiative.”
Albany scrap metal processor to install massive shredder
“scrap metal processor will be upgrading its Port of Albany facility with a 3,000-horsepower shredder that can reduce up to 80 tons of metal to tatters per hour.
The multimillion-dollar project will require Upstate Shredding-Ben Weitsman to expand its workforce by 15 people and allow it to process more scrap on site.”
SUNY Adirondack culinary students to become ‘Seasoned’
“Budding culinary chefs looking to become more “seasoned” at their craft will be able to hone their skills at SUNY Adirondack’s downtown Culinary Arts Center starting in the fall.
The community college is leasing about 8,000 square feet of space at 14 Hudson Ave. for its program. This will include a 100-seat restaurant called Seasoned @ 14 Hudson, which will be open in October, according to culinary arts instructor Matt Bolton.”
BD, having bought Bard, is hiring 45 workers or more
A medical device company has gone on a hiring spree after buying Bard, which has a well-known local manufacturing plant.
BD has put up signs on the bike trail, is passing out flyers and recently changed the sign at Bard on Bay Road as it tries to hire 45 new employees.”
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