Week in Review: May 20 – May 24, 2019
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
Albany Business Review: This tool aims to connect employers in the Albany area with veterans to hire
The Record: Capital Region is state’s second-fastest growing area
Times Union: Tech employers keep wary eye on tariff threats
New Haven Register: Tech employers keep wary eye on tariff threats
Business Review: How do we sell the Capital Region?
REGIONAL ECONOMIC DEVELOPMENT NEWS
Hamilton Hill project poised to begin this summer
“Construction of the next phase of Hamilton Hill redevelopment project could start later this summer, now that not-for-profit developers control a polluted “zombie” property that was once a former dry cleaners.
Testing of potential pollution left behind by the former Ralph’s Cleaners at Albany and Craig streets, and the cleanup plan such testing may require, should clear the way for construction to begin on the $39 million housing project, said Jennica Huff, senior project manager for The Community Builders.”
Technology and craft merge at Latham distillery
“Pear trees grow and vodka flows where a fleet of rental cars once sat.
A group of entrepreneurs recorded a series of firsts this month at Oligan Distilling, their year-old business in a converted Budget rent-a-car office/garage on Albany Shaker Road.”
Capital Region jobless rate at 18-year low for April
“The Capital Region’s unemployment rate in April fell to 3.2 percent, the lowest for the month since 2001, when it stood at 3.0 percent, according to state Labor Department figures released Tuesday.
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A year ago, the rate stood at 3.8 percent. The figures are preliminary and subject to revision.”
Tierra Farm opening Latham distribution center
“Tierra Farm, the Valatie-based organic food company, has signed a lease on an 11,000-square-foot distribution center on Sicker Road, about two miles from Albany International Airport.
The new facility will handle the growing company’s East Coast distribution, and eight to 12 employees will staff the site. The company currently employs 60 people and will be hiring new employees to adjust to the expansion, though an exact number is not set, Tierra CEO Todd Kletter said.”
Charter plans national call center in Rotterdam
“Charter Communications wants to establish a major national call center at its regional headquarters building on Highbridge Road, bringing an additional 200 jobs to the facility.
Plans scheduled to come before the Rotterdam Planning Commission Tuesday night for initial site plan review call for interior renovations to the two-story, 80,000-square-foot building, greatly expanding an existing call center and using it to serve customers of Spectrum Mobile personal communications systems.”
Proctors, FMCC and BOCES launch entertainment tech program
“Did you ever notice that at the end of a feature film the line of credits can go on for several minutes? After the director and stars are listed, there’s a lengthy scroll of people who actually make the movie happen, such as those who build the sets, put up the lighting, record the sound, edit the footage and create the special effects.
Those all represent jobs and now Proctors theater is teaming up with Fulton-Montgomery Community College as well as the Capital Region BOCES to create a program that will train the scores of backstage workers involved not just in films but in live theater, video production, electronic games, theme parks and other forms of 21st-century entertainment.”
As U.S.-China trade battle threatens chipmakers, GlobalFoundries deals show sharper focus
“GlobalFoundries reached two agreements over the past month worth nearly $1.2 billion to sell pieces of the former IBM Microelectronics business amid the computer chipmaker’s push to become the No. 1 or No. 2 player in every market it serves.
The pending sale of its chip design business to Marvell Technology Group Ltd. and a factory in East Fishkill to ON Semiconductor are moves analysts believe will help GlobalFoundries narrow its focus and increase profitability.”
Kennedy: Business with local ties goes global
“A concept pioneered in Glens Falls – selling sustainably sourced spring water in a non-plastic, single-use container – is now being replicated abroad.
JUST Goods, which bottles water from an aquifer in Queensbury, introduced its JUST Water to Australia in March following a debut in the United Kingdom last summer.”
Software startup that tracks student and corporate volunteering is expanding in Troy
“Passport for Good — a software platform that helps students, families and school districts track volunteer hours and extracurriculars — is expanding in downtown Troy.
The company is moving into designated tax-free space within the Quackenbush Building at 333 Broadway in Troy as part of the Start-Up New York program paired with Hudson Valley Community College. Passport for Good plans to invest more than $50,000 and create five jobs in the next few years. Those jobs include hires in its product team, onboarding and marketing.”
GE looking at reservoir pumps for renewable energy storage
“Scientists from General Electric’s Global Research Center in Niskayuna recently won a $1.25 million grant from the U.S. Department of Energy to study the viability of so-called pumped storage hydropower technology that essentially stores up power generated from solar and wind farms for use on the electric grid.
The grant, which was awarded by the DOE’s Water Power Technologies Office, will be shared by GE Research, GE Energy Consulting and GE Renewable Energy’s hydro team.”
