Economic Development Month in Review: November 2017
For the Top Economic Development News of the Month, CEG selects news articles about projects or developments that promise to improve and/or transform the Capital Region’s economy, particularly those that related to manufacturing and initiatives outlined in Capital 20.20, a five-year, multi-pronged plan for bringing economic prosperity to the entire region.
To learn about more the Capital Region’s economic development news from the past month, see CEG’s Economic Development Week in Review posts:
- November 2017 — Week 1
- November 2017 — Week 2
- November 2017 — Week 3
- November 2017 — Week 4
- November 2017 — Week 5
Communications Test Design Inc. confirmed Monday that it is expanding its Glenville, New York, electronics repair facility by leasing a second building and hiring an additional 37 employees.
The company, which is headquartered near Philadelphia, moved into the Glenville Business & Technology Park in 2014. Payroll has grown to more than 300 employees since then. CDTI repairs and rebuilds 75,000 types of electronic and telecommunications equipment including networking equipment and cable television boxes.”
“Mike and Margaret Roohan are expanding Granite & Marble Works Inc. in Wilton, New York, adding more space for manufacturing and polishing stone countertops, vanities and fireplaces.
The couple employs 25 craftsmen and installers who use granite, marble and onyx shipped from quarries in Brazil and Italy.”
“Momentive Performance Materials has installed a new extruding machine and packaging line in Waterford, New York, increasing capacity for producing sealants and roof coatings.
CEO Jack Boss on Tuesday confirmed Momentive’s investments in its Saratoga County plant, part of the $129 million in capital improvements that company made globally over the past nine months. Momentive expects to spend another $31 million by the end of the year.”
“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.”
“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.”
“Greenfield Manufacturing is planning to expand its chemical additives operation in Saratoga Springs, spending $2.5 million on improvements to its facility and adding seven new employees.
The company, which has 13 current employees, worked with the Saratoga Economic Development Corp. to obtain a tax incentive package valued at $459,000 from the Saratoga County Industrial Development Agency for the project.”
“A Kansas company is looking for about 6 acres of land locally to build a plant that turns paper waste product into fertilizer, in what officials say will be the first commercial facility of this type in the country.
John Dowd, a partner with Smart Terra Care, appeared before the Warren-Washington Counties Industrial Development Agency Executive Committee on Wednesday to pitch his plan, which he said would create 20 local jobs.”
“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.”
“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.”
“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.”
“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.”
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