CEG Economic Development Week in Review November 4 – November 8, 2024

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CEG IN THE NEWS

Spotlight News: Albany NanoTech selected as site for National Semiconductor Technology Center

REGIONAL ECONOMIC DEVELOPMENT NEWS

Federal chip lab just the beginning of tech investment

“A day after Albany NanoTech was chosen as a “flagship” research hub for the National Semiconductor Technology Center, Silicon Valley was chosen as a second location.

The announcement that Sunnyvale, Calif. — the epicenter of Silicon Valley — followed upstate New York and the Capital Region as the second hub for the NTSC is extremely telling. It signals a major shift in the center of power in the U.S. computer chip industry.”

IBM, Tokyo Electron and Menlo Micro leaders on the Albany NSTC

“The Capital Region on Thursday won a long-sought prize: a key part of the federally supported National Semiconductor Technology Center, which will be located at the growing Albany Nanotech Complex.

Building on a $10 billion public-private partnership unveiled last December at the site, the newly announced $825 million federal investment will seek to advance semiconductor research and development, aided by next-generation extreme ultraviolet (EUV) lithography tools.”

Effecto USA renovates its Glenville facility as it plans for growth

“Industrial automation firm Effecto USA recently completed an extensive renovation of its 18,000-square-foot facility in Glenville as it expands its customer base beyond the automotive industry.

“We’re really in a growth phase,” said CEO Cissi Schaffer, who joined the firm, formerly known as Applied Robotics, about two years ago after leading a division of Halfmoon manufacturer PVA.”

Urban farms like Collar City Mushrooms struggle to qualify for loans

“On less than half an acre and entirely indoors, Collar City Mushrooms produces around 200 pounds of mushrooms a week.

Despite producing around $12,000 a month of mushroom revenue, Collar City Mushrooms is struggling to be seen as a legitimate farm. When looking for financing, the farm was “too agricultural” for bank loans and “too urban” for USDA grants, said owner Avery Stempel.”

Curtis Lumber owners get approval for new light industrial park

“The owners of Curtis Lumber are seeking tenants for an 89-acre light industrial business park they’re developing in Duanesburg in western Schenectady County.

Curtis Lumber isn’t planning to build a store there.”

Ethermed works to ease pains of prior authorizations in health care

“Niskayuna resident John Cococcia has spent most of his career in venture capital. Now, he’s made the move to the other side of the table as an executive at an early-stage startup.

Cococcia is the chief financial officer of Ethermed, a tech startup that automates prior authorizations between doctors and insurance companies.”