CEG Economic Development Week in Review – February 11 – February 15, 2019
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
The Next Silicon Valley: Student entrepreneurs swap classrooms for startup
Times Union: Region’s share of semiconductor development grew in 2018
Times Union: HV Gamer Con tickets just $5 for students through midnight
REGIONAL ECONOMIC DEVELOPMENT NEWS
GE wins $5.8 million grant for “super-fast” DC circuit breakers
“GE Research in Niskayuna won a $5.8 million research grant from the Department of Energy’s Advanced Research Projects Agency to develop a “super-fast” direct-current circuit breaker that would allow cities to tap into more renewable energy sources.
Renewable energy sources like wind farms are typically located far away from cities, and bringing in the electricity generated from wind farms on traditional large, high-voltage alternating current transmission lines can lead to a lot of energy loss over the miles.”
Regeneron will spend up to $490 million on manufacturing, labs this year
“Regeneron Pharmaceuticals could increase its capital expenditures by more than $100 million this year.
The manufacturer of bulk medications for treating skin cancer, eye disease and asthma plans to invest up to $490 million on renovations and expansion of its factories in East Greenbush, New York, and Limerick, Ireland. Investments also will include laboratory improvements at Regeneron’s Tarrytown location, where the company is headquartered.”
Schenectady granola company raises $250,000 to improve manufacturing, marketing
“Gatherer’s Granola has raised $250,000 from the Eastern New York Angels.
Sandro Gerbini, president and founder of Gatherer’s Granola, said the money will help improve same-store sales, by simplifying baking and improving marketing. He expects revenue to double this year to more than $1 million.”
Albany Med pursues $3.7 million project to move clinic
“Albany Medical Center plans to invest $3.72 million in moving an outpatient clinic to be able to serve more patients.
The hospital is asking the state for permission to move its psychiatry clinic from 25 Hackett Blvd. to 2 Clara Barton Dr., less than a half mile away.
Albany training facility to undergo major expansion
“Sano-Rubin Construction Services has been awarded a $39.4 million contract to provide construction services for a major expansion of the state Department of Corrections and Community Supervision’s Albany Training Academy.
The Academy, at 1134 New Scotland Road, will build dormitories for recruits, make alterations to its arsenal, build a new gymnasium, and make other changes.”
Zemsky says IBM deal ‘cements’ SUNY Poly for years to come
“The state’s top economic development official told legislators in Albany earlier this week that the state’s $300 million deal with IBM for a new artificial intelligence hardware lab at SUNY Polytechnic Institute will help secure the school’s technology leadership role for years to come.
IBM is planning to spend $2 billion over the next five years on the new AI Hardware Center and related technology development at SUNY Poly and its other IBM sites in New York state such as its research center in Yorktown Heights.”
