Week in Review: June 7 – June 11, 2021

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

Troy Record: Capital Region Cancer Research to sponsor Precision Medicine Symposium

REGIONAL ECONOMIC DEVELOPMENT NEWS

Schumer: Innovation Act a boon for Capital Region

“Capital Region universities, corporate research labs and semiconductor research and manufacturing all stand to gain billions of dollars in federal support under the U.S. Innovation and Competition Act, which passed the Senate with bipartisan support late Tuesday.

U.S. Senate Majority Leader Charles Schumer said the $250 billion measure would have tremendous impact on a number of local institutions, as well as others across the country.”

Semiconductor R&D operation setting up in Schenectady

“A New York City-based semiconductor industry adviser and investor purchased the 18,000-square-foot structure at 2210 Technology Drive formerly used as a chemistry lab by M&P Labs.

The new owner is Robert Maire, who created First Principles Technology LLC for the venture. He said Thursday he’s already completed cleaning out the space and next will install the cleanroom and other infrastructure needed for its new use. He expects to be ready for occupancy in the next few weeks.”

Palace sees financial relief from federal funds, other venues await an answer

“The Palace Theater in Albany recently became one of 10 arts venues across New York state to receive financial assistance from the federal Shuttered Venue Operators Grants.

The $16 billion program, run by the Small Business Administration, is meant to help small independent venues, promoters, movie theaters and other entertainment venues that have been financially impacted by the pandemic.”