CEG Economic Development Week in Review – November 6 – November 10, 2017
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CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“After 21 years of growth, veteran craft beer maker Shmaltz Brewing is still looking to grow and still facing the money obstacles younger brewers face.
Shmaltz founder and CEO Jeremy Cowan last week hosted an evening event at his Clifton Park brewery with Upstate Capital Association of New York, which connects investors with companies seeking investments.”
“Park Systems, a South Korean firm that makes atomic force microscopes, is opening a research lab at SUNY Polytechnic Institute, with a special ribbon cutting ceremony on Friday afternoon.
The firm’s founder, Sang-il Park, will speak at the event, along with SUNY Poly officials.”
“Sealant and coatings manufacturer Momentive Performance Materials is about to start trading on the New York Stock Exchange as the company prepares to raise money to pay off $229 million in debt.
The Waterford, New York, silicone producer is making an initial public offering that could give the company a $1.4 billion market capitalization, solidifying its position as one of the most valuable public companies in the 11-county region.”
“CommerceHub, the Albany, New York, based e-commerce company, is cutting an undisclosed number of software development jobs in Seattle as it looks to save money and consolidate operations to Albany.
The consolidation started in September and is likely to continue until early 2019, as CommerceHub is retaining some Seattle-based engineers for a transition period. Eventually those jobs will move to Albany.”
“Saratoga County’s economic development agency on Thursday announced a collaboration to boost the region’s technology economy.
The agreement between the Saratoga County Prosperity Partnership and the Global Semiconductor Alliance is designed to boost high-tech business attraction and growth in Saratoga County while creating a hub for semiconductor outreach, advocacy and education in the Northeast.”
“Soon after Glens Falls was awarded $10 million as part of the state’s Downtown Revitalization Initiative (DRI), city officials, business owners and members of the community went to work identifying and compiling its DRI plan, which included a priority listing of downtown projects.
The final plan, approved in February, is about to get underway.”