CEG Economic Development Week in Review September 30 – October 4, 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:
CEG IN THE NEWS
Adirondack Explorer: Adirondack entrepreneurs think big, work small
Troy Record: UAlbany unveils new Esports Arena for gamers
WNYT News 13: Capital Region tech startups come together to solve problems
MSN.com: Centrotherm Eco Systems celebrates move to Waterford
ABC News 10: $9.4 million in funding for small businesses in semiconductor industry
Times Union: N.Y. gets $9.4 million to help small businesses seeking chip contracts
REGIONAL ECONOMIC DEVELOPMENT NEWS
New Leb downtown project to go to referendum
“The town will be holding a special election in January on its contribution toward a project to revitalize its downtown, the town supervisor said.
At the New Lebanon Town Board’s Sept. 10 meeting, it approved a measure to hire a bond attorney to oversee the town’s $500,000 contribution to the project, Town Supervisor Tistrya Houghtling said.”
NY CREATES gets $4.7 million National Science Foundation grant
“NY CREATES, the nonprofit that operates Albany NanoTech, was awarded a $4.7 million grant from the National Science Foundation for a workforce development program for the computer chip industry.
The money will fund a program that NY CREATES calls the Education Alliance for Semiconductor Experiential Learning, or EASEL.”
Water management company Soleno opens in Saratoga Springs
“Canadian water management company Soleno has opened its Saratoga Springs facility — its first in the United States — to create pipes and other products to collect, convey, treat and store water for various types of infrastructure.
‘With this new plant, Soleno affirms its position as a leader in North America’s water management sector,’ company President Alain Poirier said in a press release. ‘This project reflects our commitment to offer cutting-edge solutions tailored to the specific needs of North American markets while strengthening our production and distribution capacities. We see this expansion as an opportunity to push the boundaries of innovation for more resilient and sustainable infrastructure.’”
Inovabed opens Murphy bed showroom at Newton Plaza
“Guilderland furniture manufacturer Inovabed has opened a showroom in Latham as it seeks to grow its nascent direct-to-consumer business.
The 1,300-square-foot space at Newton Plaza on Loudon Road will allow prospective commercial and retail customers to get an up-close look at the company’s Murphy beds, cabinetry and other products.”
Regeneron’s Quad plant purchase in Saratoga among biggest deals of the year
“Biotech firm Regeneron Pharmaceuticals Inc. paid $42.5 million for the massive complex previously occupied by printing company Quad in Saratoga Springs, according to a deed recently filed with the Saratoga County clerk’s office.
No mortgage was filed contemporaneously, indicating the company paid cash, according to county records.”
