December 1 2017

CEG Economic Development Week in Review – November 27 – December 1, 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:


Daily Gazette: Fingerpaint makes another investment in Saratoga Springs

Times Union: Tax breaks for company carry public benefits


GlobalFoundries helping U.S. regain supercomputing lead

“The thousands of people who work at the GlobalFoundries computer chip factory in Malta are helping the United States’ effort to regain superiority in the supercomputing game.

Like the space race between the United States and the former Soviet Union in the 1950s and 1960s, there is now a supercomputing race between the United States and China.  The goal is to build the fastest and most powerful computer.”

Fast-growing Albany software company backed by Manhattan private equity firms

“GCOM Software Inc., the Albany, New York, software developer, has received an undisclosed investment from two private equity firms in a deal that will let the company expand nationally.

Sagewind Capital LLC, a New York-based private equity firm, and Bagnols Family Office Investment Partners, another New York-based investment firm, led the deal.”

Capital Roots in Troy planning expansion

“Capital Roots is seeing so much demand for its low-cost, locally-grown produce that it’s planning to expand just three years after moving into a renovated building in Troy, New York.

The non-profit has raised $1 million toward the $5 million cost for the expansion, and will be starting a formal capital campaign soon with the goal of breaking ground next summer.”

South Glens Falls envisions riverfront businesses at abandoned site

“An abandoned and boarded-up building could create a village center and a vibrant riverfront.

The village’s comprehensive plan committee toured the site off First Street, which features the bandstand, museum and an abandoned building known as the Carriage House.”

UAlbany RNA scientist wins $1.9M NIH award

“Ken Halvorsen, a senior research scientist at the RNA Institute at the University at Albany, has won a $1.9 million outstanding investigator award from the National Institutes of Health.

The grant will be used over the next five years to support Halvorsen’s lab’s research, which focuses on detection and analysis of RNA in the body that can help with diagnosis and treatment of diseases ranging from cancer to HIV and AIDS.”

Skidmore seeks $35 million in financing for science center expansion

“Skidmore College is seeking permission to finance a large portion of a proposed $67.5 million science center expansion using low-interest, tax-exempt bonds.

The private liberal arts school in Saratoga Springs, New York, has filed a request with the Saratoga County Capital Resource Corp. to issue $35 million in bonds.”

AngioDynamics moving into former Native Textiles building

“AngioDynamics is moving the work of an entire plant from Georgia to the region, with a new warehouse opening in a building that was vacant for a decade.

Manufacturing work from the Manchester, Georgia plant will also be moved here, although the company has not yet announced details.”

Funding Partners