CEG Economic Development Week in Review September 9 – September 13, 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

WNYT News 13: Capital Region has large number of women-owned non-employer firms

REGIONAL ECONOMIC DEVELOPMENT NEWS

Ribbon cutting held for new HVCC STEM Education Center

“Hudson Valley Community College celebrated the opening of a new STEM Education Center in Malta on Thursday. The facility is part of a $17 million project to expand HVCC North.

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The project includes renovations to the semiconductor manufacturing training center. Officials said the project will provide workforce development for the healthcare and manufacturing industries and prepare students for jobs they can find in New York State.”

Atlas Copco’s expansion receives $9 million tax-incentive package

“A $9 million tax incentive was approved Wednesday by the Albany County Industrial Development Agency to contribute to the over $40 million expansion of Atlas Copco.

Atlas Copco is the sole manufacturer for large-scale carbon dioxide compressors for green energy in the U.S. The compressors are used for carbon capture and carbon sequestration. Compressors obtain carbon dioxide from emissions, transport it, and store it underground in geological formations to keep it out of the environment or for future energy use. Both carbon capture and carbon sequestration are integral factors in progressing toward carbon neutrality and meeting global climate goals.”

The Mailworks moves into renovated HQ on Broadway in Menands

“The Mailworks has completed the renovation of its new Menands headquarters, part of President and CEO Brianne Baggetta’s larger plan to grow the company.

The direct mail operation creates products for industries such as education, real estate and automotive, among others, to send to consumers.”

Bestpass rebrands to Fleetworthy

“Colonie-based trucking software company Bestpass has rebranded to better represent the company’s suite of services after multiple acquisitions.

Bestpass is now Fleetworthy, the company announced Monday.”

IBM gobbling up space at Albany NanoTech as it adds hundreds of workers

“IBM will lease another 30,000 square feet of space at the Albany NanoTech complex on Fuller Road as it ramps up hiring at the computer chip research facility.

Westchester-based IBM has historically been one of the largest tenants at the facility, which is owned and operated by NY CREATES, a state-affiliated non-profit.

IBM has 700 employees working at Albany NanoTech and plans to add another 150 to 299 workers.”

HVCC opens new STEM Education Center

“Hudson Valley Community College’s new $17.5 million STEM Education Center is now open for the school year.

The new facility is part of the college’s HVCC North expansion project, and it is located at the college’s extension center in Malta.

It will serve over a thousand students each year with coursework applicable to over 30 associate degree and certificate programs.”