Week in Review: April 25 – April 29, 2022
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: Data finds Warren County national leader in recreational, camp industry
REGIONAL ECONOMIC DEVELOPMENT NEWS
NY CREATES names David Anderson its next president
“The organization that oversees the Albany NanoTech Complex has a new president.
David Anderson was confirmed Friday as president of the New York Center for Research, Economic Advancement, Technology, Engineering and Science — NY CREATES — by the organization’s board of directors. His tenure begins on April 25.”
Exit 21, Cairo, Tech Park top 2022 IDA project list
“With a goal of attracting and maintaining businesses to the region, the Greene County Industrial Development Agency has a full slate of ongoing business park projects and PILOT programs.
During a presentation to the Greene County Legislature on Monday during an Economic Development and Tourism Committee meeting, Greene County IDA Executive Director April Ernst gave an update on the agency’s schedule.”
Wolfspeed opens Mohawk Valley chip fab
“Over two and a half years after breaking ground, Wolfspeed (NYSE: WOLF) has finally opened its local silicon carbide factory.
The $1 billion silicon carbide chip facility is housed at the 450-acre Marcy Nanocenter and is the site’s first tenant.”
Albany Inno – This Troy founder worried his startup would die. Now he’s projecting $3M in sales
“Just a few months ago, Timmy Oh was worried that his startup wouldn’t survive.
The inventory for Vara Safety had run out again last November, which severely limited cash flow and the startup’s ability to order more inventory.”
“The Port of Albany has awarded a $42.7 million contract to CDMG Building Systems of Canonsburg, Pennsylvania, to supply four metal buildings along the Hudson River that will serve as the centerpiece of the nation’s first offshore wind tower manufacturing plant.
The contract was awarded during a special meeting of the port district commission last week as officials race to line up approvals and construct a factory to allow joint venture Marmen Welcon to start producing wind towers and other parts by the end of next year.”
Schenectady tapped as location for regional transit hub
“Downtown Schenectady has been tapped as the site for a new regional transportation hub designed to bring together multiple forms of public transit – such as buses, e-scooters and bicycles – in one centralized location.
The city’s upcoming “Gateway Mobility Hub” has been dubbed the first of its kind by the Capital District Transportation Authority (CDTA).”
Paint recycling center to open in Rotterdam
“A Denver-based company called GreenSheen is opening a paint recycling and manufacturing center at the Rotterdam Corporate Park.
GreenSheen has been working with the state Department of Environmental Conservation on the project and considered multiple locations before settling on a lease for a 40,000-square-foot space at the corporate park.”
Forklift supplier Thompson & Johnson Equipment Co. buys land in Schenectady County
“Thompson & Johnson Equipment Co., a forklift sales, leasing and service company, is buying land in the town of Rotterdam for an office/warehouse to accommodate growing demand from warehouse owners and managers.
The family-owned company, based in Syracuse, anticipates $46 million in sales this year as it pushes into a new line of business: selling and servicing equipment that enables a forklift to smoothly go from the warehouse floor into a tractor-trailer, known as “dock and door” in the industry.”
Details emerge for GlobalFoundries’ second factory in Saratoga County
“GlobalFoundries’ plan to construct a second factory at its Saratoga County campus would add nearly 737,000 square feet spread across nine buildings as the New York computer chipmaker races to increase capacity to address a worldwide shortage that’s disrupting manufacturers of cars, video gaming consoles, pumps and washing machines.
The expansion would add nearly 357,000 square feet of manufacturing space — equivalent to the size of six football fields — to a $15 billion complex that serves as the company’s corporate headquarters and most advanced factory.”
