Economic Development Month in Review: April 2018
For the Top Economic Development News of the Month, CEG selects news articles about projects or developments that promise to improve and/or transform the Capital Region’s economy, particularly those that related to manufacturing and initiatives outlined in Capital 20.20, a five-year, multi-pronged plan for bringing economic prosperity to the entire region.
To learn about more the Capital Region’s economic development news from the past month, see CEG’s Economic Development Week in Review posts:
Paper manufacturer hiring 45 as part of $8 million expansion in Schenectady County
“Specialty Quality Packaging, a paper and packaging products manufacturer in Glenville, New York, announced today it plans to spend $8 million to expand its plant and hire 45 employees.
The plant is located in the Glenville Business and Technology Park in Schenectady County. Empire State Development is providing Specialty with $900,000 in tax credits.”
New GlobalFoundries GM Ron Sampson has big goals for 2018
“Ron Sampson wants to increase production by 20 percent this year at GlobalFoundries’ manufacturing complex in Malta, New York.
Sampson, 51, was promoted last month to senior vice president and general manager of the computer chip maker’s most advanced factory.”
Mohawk acquisition will bring more manufacturing work to upstate New York
“Tom O’Connor Jr.’s latest investment will add $40 million in annual sales for Mohawk Fine Papers Inc. and take a big chunk of work away from one of its competitors.
The chairman and chief executive of Mohawk in Cohoes, New York, said last week’s acquisition of Crane Stationery Corp. in western Massachusetts will bring more premium paper manufacturing work to Mohawk’s factories in upstate New York.”
Big land deal in downtown Albany clears hurdle
“Capitalize Albany Corp. is one step closer to buying a big chunk of undeveloped land for $1 in downtown Albany, New York.
No objections were raised by state government leaders to the sale of the properties during a review period that ended April 1.”
HVCC breaks ground on new facility
“The Hudson Valley Community College campus was packed Wednesday afternoon as the college held a groundbreaking ceremony for its new advanced manufacturing building.
The cost for the new Gene F. Haas Center for Advanced Manufacturing Skills building will total $14.5 million. The facility will be 37,000-square-feet.”
Flomatic Corp.’s $3.3 million project will add jobs, speed up production
“Bo Andersson and Flomatic Corp. are investing $3.3 million to add production, research and training space at the company’s valve manufacturing plant in Glens Falls, New York.
Flomatic hired Queensbury general contractor Rozell Industries this spring to construct a 20,000-square-foot addition that will include a newer, faster $1 million epoxy coating and drying system to speed up production.”
Albany Molecular gets $39.5M NIH contract renewal
“Albany Molecular Research Inc. won renewal of a National Institutes of Health contract that will be worth as much as $39.5 million over the next ten years.
The original contract was awarded in 2011.”
UAlbany breaks ground on major research center
“The University at Albany is looking to expand its footprint in a big way, breaking ground Tuesday on a research and academic center on the Harriman state campus.”
University and state officials kicked off construction Tuesday at a 12-acre parcel on the southwest corner of the Harriman campus, a few minutes walk to the heart of the UAlbany campus. Officials are planning to complete construction in time for university staff to move into the facility in summer 2021 and open to students that fall.”
Newly renovated theater reopens in Glens Falls
“The newly renovated Park Theater in downtown Glens Falls reopened this week.
The 220-seat theater will host live performances and has flexible space for events, Empire State Development said in a press release. It also includes a new 70-seat restaurant named after former theater owner Dr. Harold Kirkpatrick.”
BelGioioso Cheese to make mozzarella in Glenville
“Wisconsin’s BelGioioso Cheese said it will build a new $25 million, 100,000 square-foot cheese factory in Glenville to make mozzarella and other cheeses as part of an expansion of its local operations.
BelGioioso already operates the former Cappiello’s plant in Schenectady and would add 46 new jobs and retain 31 existing local jobs as part of the expansion into the new plant under a deal brokered by New York state that would give the company up to $850,000 in state tax credits.”
Pasta factory rises at business park
“Coxsackie is rolling in the dough, for pasta, that is.
An organic pasta manufacturer has set up shop in the former Ducommun Building on Stacy Road.
Sfoglini’s, formerly of Brooklyn, moved into the Greene Business and Technology Park Greene County Economic Development, Tourism & Planning Director Warren Hart announced at a March Greene County Legislature committee meeting.”
Troy company gets another patent for bacteria-killing light technology
“Vital Vio, the Troy, New York, company that design lights meant to kill bacteria, had its fourth patent awarded this week, and has several more pending.
The latest patent awarded is for its “single diode disinfection” technology, which allows for single component integration into LED light engines, making the lights compatible to a wide range of LED light fixtures and other products.”
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 signing up for our e-news following us on:
