Economic Development Month in Review: June 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:
Distillery expected to create 25 jobs
“The project to establish a field-to-glass distillery on 182 acres in the Columbia County community of Claverack is expected to create 25 new jobs, state officials said last week.
The project to establish a field-to-glass distillery on 182 acres in the Columbia County community of Claverack is expected to create 25 new jobs, state officials said last week.”
This pharmaceutical startup is raising money to make it easier to diagnose eye conditions
“Glauconix Biosciences, a pharmaceutical research startup in Albany, New York, has raised $100,000 to grow the business as it looks to accelerate drug development for diseases and other eye issues.
The latest investment in Glauconix is from Excell Partners Inc., a venture capital fund out of Rochester that invests in seed and early stage startups primarily in upstate New York. The investment is part of a $1.5 million seed round that Glauconix is raising.”
SABIC adding offices, lab and warehouse space in Selkirk
“SABIC Innovative Plastics wants to add 22,500 square feet of new office, lab and warehouse space at its Selkirk plastics factory in plans dubbed the “Half Moon Project.”
The Bethlehem planning board was recently briefed on the company’s plans, which are related in part to the company moving a research and technology operation from Exton, Pa., to the Selkirk site, located off Route 32. SABIC employs 530 people at the site.”
Plastics company has new owner, will hire more workers
“Massachusetts-based Universal Plastics Group has acquired Kintz Plastics, located in Howes Cave, and plans to hire more workers.
Kintz manufactures plastic parts used for medical equipment. Universal specializes in different types of thermoforming, a process that involves turning plastic into products. The sale was announced Tuesday and the terms were not disclosed.”
“The local gourmet granola maker being ousted from its downtown Schenectady production facility has found a new home on Hamburg Street in Rotterdam.
Gatherer’s Granola founder and president Sandro Gerbini this week said his company will likely begin the relocation later this month.”
Local college student designs mounted gun safe
“A local college student is working on a new product that will give firearm owners a safe case to hold their guns that is also easily accessible.
Timothy Oh, a 22-year-old Californian who attends RPI, founded a company called Vara to produce the gun safe, which is called Reach. “
Carpenters union completes $5M training center
“The regional carpenters union on Monday showed off its expanded and upgraded training center/headquarters.
The 75,000-square-foot conversion of two warehouses was undertaken at a cost of more than $5 million by the Northeast/New England Regional Council of Carpenters.”
Schenectady on road to becoming ‘smart city’ of the future
“National Grid and the city of Schenectady launched a three-year, $6.7 million project to set the groundwork for Schenectady to become a “smart city” of the future where lights and sensors deployed on city streets will make city services more efficient and help improve public safety programs.
The initiative, which will be paid for through the utility, will begin with National Grid converting more than 4,000 street lights across the city to energy-efficient LED lights that use much less energy than traditional light bulbs.”
Amazon wants 1 million-square-foot distribution center in Rensselaer County
“Amazon.com Inc. would fill a 1 million-square-foot distribution center that a developer wants to build in Schodack, New York, employing at least 800 people full-time when it opens in the third quarter of 2019.
Amazon’s involvement in the project, which has been kept secret for weeks, was disclosed Monday night during a planning board meeting in the Rensselaer County town, about 15 miles east of Albany.”
RAD Soap signs deal with Universal Studios to make Jurassic World-branded products
“AD Soap Co., the Albany company that makes plant-based body and beauty goods, has signed a deal with Universal Studios to create Jurassic World-branded products, co-founder Sue Kerber told the Albany Business Review Tuesday.
The Jurassic Mask and Jurassic Muds are made with 200 million-year-old mineral deposits recently discovered on the West Coast. The compounds are believed to have originated in the Jurassic period, for which Universal’s dinosaur blockbuster series is named.”
Saratoga Springs to host semiconductor conference in October
“The Saratoga County Prosperity Partnership is going to host a newly created semiconductor conference in October in partnership with the Global Semiconductor Alliance and the Center for Economic Growth.
The conference will be called the GSA Silicon Summit – East, and it will be held Oct. 9 at the Saratoga Springs City Center.”
SEDC announcing major chip design initiative
“Saratoga Economic Development Corp. is going to unveil plans Friday to create a new computer chip design initiative in downtown Saratoga Springs.
The announcement will include officials from Clarkson University, SUNY Adirondack and the Center for Economic Growth, in addition to SEDC President Dennis Brobston.”
Business incubator in former Catholic school breaks ground
“After three years in the works, the conversion of a vacant school building on Central Avenue into a business incubator is moving forward.
Located at 279 Central Ave., the three-story building will eventually include affordable work spaces for startups and entrepreneurs, “learning labs” focused on workforce and business training and a historic restorations laboratory. It is called the STEAM Garden, an acronym that stands for Science, Technology, Engineering, Arts and Math.”
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