CEG Economic Development Week in Review October 16 – October 20, 2023
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
Port of Coeymans expansion felt in Adirondacks
“The Adirondack Park Agency last week held off from voting on an application to expand a mining operation along the southern border of the park.
Coeymans-based Carver Sand & Gravel owns an operation in Ephratah, Fulton County and requested the expansion to increase the supply of larger rocks and deliver materials for offshore wind projects near Long Island, according to a presentation. The company said it is also involved in the Living Breakwaters, a project designed to protect against storm waves and long-term erosion.”
Schenectady medical device company Epic Airways Systems finalist in FuzeHub competition
“A Schenectady company has been selected as one of a dozen finalists in a commercialization competition that will dole out a $150,000 grand prize to one New York-based tech company.
Epic Airway Systems Inc. will compete in the FuzeHub competition on Monday and Tuesday at the Saratoga Springs City Center, with the local company seeking funding to help bring its medical prototype to the market.”
Mohawk Harbor arena seeks approval from Schenectady Planning Commission
“The Galesi Group is seeking approval from the Schenectady Planning Commission to build a 2,250-seat arena at Mohawk Harbor.
The request comes 18 months after state Assemblyman Angelo Santabarbara (D-Rotterdam) said he secured $10 million in the state budget for the arena, which would host Union College hockey games and other events.”
Hochul announces new SUNY investments in artificial intelligence
“New York’s state university system is poised to ramp up its focus on generative artificial intelligence and its impact, even as Gov. Kathy Hochul indicated that statewide regulation of the emerging technology is unlikely, especially in the near future.
In remarks delivered at the State University of New York’s inaugural symposium on artificial intelligence on Monday at the University at Albany, Hochul highlighted an incoming $20 million collaboration between IBM and UAlbany that seeks to better position the state’s adoption of AI. Hochul sought to portray New York as the geographical nexus of research and job growth in the newly emerging industry, while acknowledging potential pitfalls.”
Mohawk Harbor arena seeks approval from Schenectady Planning Commission
“The Galesi Group is seeking approval from the Schenectady Planning Commission to build a 2,250-seat arena at Mohawk Harbor.
The request comes 18 months after state Assemblyman Angelo Santabarbara (D-Rotterdam) said he secured $10 million in the state budget for the arena, which would host Union College hockey games and other events.”
Metroplex, Land Bank partnering to demolish vacant buildings in Schenectady
“The Schenectady County Metroplex Development Authority will spend $550,000 to demolish seven vacant buildings with a long history of codes violations in the Hamilton Hill neighborhood, clearing the way for future housing development.
Demolition of the buildings, which are mainly located along Albany Street, is slated to begin next year, after the Capital Region Land Bank takes ownership of the properties. The city of Schenectady recently won a judgment against the owner of the properties that will allow it to recoup $760,000 for numerous code violations.”
MTX Group signs lease for Shenectady office space on State Street downtown
“Technology consulting firm MTX Group signed a lease for offices in downtown Schenectady.
MTX Group next spring will occupy about 9,000-square-feet at 400 State St. from The Galesi Group.”
UAlbany is helping shape the future of the U.S. semiconductor industry
“As the U.S. strives to maintain an edge in the global arms race for the latest chip technology, the University at Albany once again stands at the leading edge of semiconductor research and education in the nation.
With the expanded College of Nanotechnology, Science, and Engineering (CNSE), UAlbany is driving advances in nanotechnology, engineering, computer science and artificial intelligence.”
CHIPS Act will create chip factory ‘clusters’ in U.S.
“Regions that will benefit the most from the $52 billion CHIPS and Science Act in the U.S. will be those able to grow and sustain chip manufacturing clusters, a U.S. Commerce Department official told the New York State Innovation Summit in Saratoga Springs.
Consider upstate New York among those in the mix for billions of dollars of that federal funding, which will be awarded through the Commerce Department.”
Milton’s Town Center Plans Continue to Advance
“Another major aspect of the project are its community spaces. Samascott said the plans currently include a clubhouse, which offers amenities including a swimming pool, fitness area, meeting rooms, catering kitchen, and more. Samascott also mentioned other amenities such as an outdoor projection area, outdoor grills and firepits, walking trails, and a dog park.
The commercial properties would be mainly focused around Trieble Ave, which would have sidewalks added for walkability and connect with the Hannaford plaza, Samascott said. He noted they hope to begin work on the project next year.”
Albany Nanotech Complex moves forward with NanoFab Reflection building
“The Albany Nanotech Complex is preparing to break ground on its next clean room building.
David Anderson, the president of NY CREATES, said at the Albany Business Review’s Emerging Industries panel Thursday that construction should start in early 2024, with expected completion by the end of 2025.”
