Economic Development Month in Review: June 2019
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:
AngioDynamics moving 125 employees into downtown Glens Falls
“AngioDynamics will lease the 9th floor of the 10-story Monument Square building in a plan that will bring 125 employees into downtown Glens Falls.
The medical device maker is taking approximately 15,000 square feet of office space to accommodate personnel, most of whom previously worked at 10 Glens Falls Technical Park, the former Navilyst building that was sold to Medline Industries last week for $5.75 million.”
GE’s local X-ray facility takes on new importance
“General Electric Co.’s digital x-ray detector manufacturing facility appears to be part of GE’s long-range plans moving forward, at least for now, after the company unloaded its biopharma unit earlier in the year.
Under previous CEO John Flannery, GE planned to spin off its entire healthcare division, including the imaging technology facility, which employs 125 people at the Rensselaer Technology Park in North Greenbush.
Lumberyard hosts first movie shoot
“A year after opening its soundstage, Lumberyard Center for Film and Performing Arts booked its first production company to shoot scenes for a full-length movie.
REMcycle Productions, a Catskills-based company focused on film, television and theatre projects, filmed select scenes from its upcoming horror movie “A Deadly Legend” at Lumberyard for two days last month.”
Menands tech company wants to double its workforce by hiring 200 in the next year
“The jobs are for Zones’ high-end call center, working with Microsoft’s most important customers to help them use the Office 365 and Microsoft 365 tools better.
The jobs are for Zones’ high-end call center, working with Microsoft’s most important customers to help them use the Office 365 and Microsoft 365 tools better. The employees provide technical help to Microsoft’s customers mostly working with the IT teams within companies. For example, they could be helping a 40-person law firm in Omaha, Nebraska, or a Fortune 100 company in California.”
This Merck subsidiary is expanding in Albany — and hiring
“ILÚM Health Solutions plans to create 115 jobs in the Albany area over the next five years, investing $48 million. The company currently has 14 on staff at its offices at the Bull Moose Club on State Street in downtown Albany.
ILÚM is a subsidiary of the pharmaceutical giant Merck & Co. Inc. (NYSE: MRK).”
Capital Region company seeks to remake helmet industry
“One Capital Region company is looking to revolutionize the helmet industry, and potentially become the area’s next billion dollar business in the process.
Schenectady-based Kirsh Helmets is months away from debuting their specialized motorcycle helmets to the public for $245 apiece.
CDTC approves $500 million capital program
“The Capital District Transportation Committee recently approved a 5-year capital program known as the Transportation Improvement Program.
As the Metropolitan Planning Organization for Albany, Rensselaer, Saratoga, and Schenectady Counties, officials said the CDTC is a forum for local elected officials and transportation representatives to share ideas and make decisions about major transportation capital investments, and regional transportation planning.”
Amazon developer acquires Schodack site for $3.1M
“Amazon’s plans to build a $100 million distribution center in Schodack took a major leap forward after the developer of the project acquired the nearly 120 acres needed for massive 1-million-square-foot facility for $3.1 million.
The sale of the two vacant parcels to Scannell Properties of Indianapolis took place June 13, according to property records.”
Silicon Valley company first partner announced for Saratoga Springs chip design center
“Cadence Design Systems — a Silicon Valley company — will be providing multimillion-dollar design tools at a heavy discount for the new semiconductor design accelerator planned in Saratoga Springs.
It is one of the first industry partners to join the Electronic Design and Innovation Initiative – a year after Saratoga Economic Development Corp. announced plans to create the accelerator focused on design innovation in computer chips and electronic systems.”
Troy manufacturer acquires Green Island facility, to add 50 jobs
“The Troy-based Ross Valve Manufacturing Co. is acquiring a Green Island manufacturing facility from LAI International for $2.5 million, with plans to expand operations and hire 50 new employees at the site.
Production had been on the decline recently at LAI’s facility — which was the former Zak Inc. plant on Tibbets Avenue — and employment fell from a reported 55 employees in 2014 to just 10 this year, all of whom will be retained to continue working at the site.”
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