November 27 2017

CEG Economic Development Week in Review – November 20 – November 24, 2017


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:



Albany biotech startup wins $50K at business competition

“An Albany-based biotechnology startup recently won $50,000 at FuzeHub’s commercialization competition.

Praxis Biotechnology is developing a medication to reduce inflammation associated with rosacea without affecting the rest of the body. Rosacea is a condition that causes redness and bumps on the skin. The company, founded in 2016 by an assistant professor at Albany Medical College, is housed at the school’s Biomedical Acceleration and Commercialization Center.”

Special effects firm behind HBO’s ‘Westworld,’ Netflix’s ‘Jessica Jones’ opening Albany office

“A special effects firm behind popular Hollywood movies and TV shows, including HBO’s “Westworld” and Netflix’s “Jessica Jones,” is opening a branch office in Albany, New York.

Bryan Godwin, who started Shade VFX in 2009, is opening a branch of his boutique special effects firm in Albany that will be called BranchVFX LLC. The company, which has offices in Santa Monica, California, and New York City, will be based at a 3,000-square-foot office at 384 Broadway in Albany.”

Schenectady mayor returns from Spain with Smart Cities ideas

“Schenectady’s mayor and traffic signal superintendent are back from a Smart Cities conference in Spain with new ideas on how technology can make the city work better.

Mayor Gary McCarthy said Schenectady stood out among much-larger municipalities, such as New York City, Kansas City and San Diego, because those cities mostly wired individual neighborhoods or business districts.”

Film commission seeks to attract more moviemakers

“romantic comedy recently completed filming in the Glens Falls area, and economic development officials hope it will be the first of many to come with the establishment of a film commission.

‘Spy Intervention’ wrapped up production Friday following about 20 days of principal photography over four weeks.”

Fab 8 chips are made for speed

“High-end computer chips used in servers that are made at GlobalFoundries’ Fab 8 computer chip factory in Saratoga County have helped to break another world record for Advanced Micro Devices and one of its major customers.

AMD, which is the biggest customer for GlobalFoundries, announced earlier this week that its Epyc server chip used inside servers made by Hewlett Packard Enterprise for data centers.”

Funding Partners