CEG Economic Development Week in Review October 27 – November 1, 2024

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

Alain Kaloyeros-connected firm could lease Rensselaer Tech Park space, according to application

“A company associated with Columbia Development Cos. is planning to make $3.55 million in capital improvements for a 25,000-square-foot building it owns within the Rensselaer Technology Park in North Greenbush, according to documents filed with the Rensselaer County Industrial Development Agency.

The multimillion-dollar improvements at 465 Jordan Road would allow a new tenant, Kalark Nanostructure Sciences, “to utilize the space for small [scale] manufacturing and research and development,” according to the application.”

Albany wins ‘flagship’ $825M federal chip research lab, Schumer says

“U.S. Senate Majority Leader Charles E. Schumer revealed Wednesday that NY CREATES, the nonprofit entity that owns and operates cutting-edge research facilities across New York, has been awarded $825 million to establish a federal computer chip research center at Albany NanoTech.

The research center will be housed in a $410 million building, called NanoFab Reflection, that’s currently under construction at the NanoTech campus off Fuller Road.”

RPI envisions Hudson Valley as a quantum computing hub

“How big of a deal was it when Rensselaer Polytechnic Institute in Troy got the first university-based quantum computer in the world?

Let’s explain it this way: RPI has a quantum computing club. In 2023, when IBM announced it would install an IBM Quantum System One quantum computer on the RPI campus, the quantum computing club had 40 members.

Today, the club has 400 members, about 200 of whom are incoming freshman students.”

VDO Gaming & Esports Education gaming facility comes to Menands

“Parents used to worry about video games derailing their kids’ lives, but VDO Gaming & Esports Education is showing them how to make a career out of gaming.

“It’s not just playing video games,” Michael Crossman, the general manager, said. “There’s different professions in it — digital marketing, coding, creating the games.”