Week in Review: March 2 – March 6, 2020
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:
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Scientists and engineers at General Electric’s Global Research Center here are teaming up with the world’s most powerful supercomputer, based in Oak Ridge, Tenn. and powered by chips made in upstate New York, in an effort to make GE’s jet engines and power generation equipment as efficient as possible. At stake are world markets for what are GE’s most lucrative products.”
“A Niskayuna man’s dream of opening a fruit and vegetable juice bar became a reality Thursday at the grand opening of True Juice Café, a startup housed inside New York BizLab on State Street.
There’s more than one way to juice a fruit, but David Kosineski, 24, is proud of the specific process and fresh ingredients he uses to make his product.”
“After the pianist began playing at Universal Preservation Hall in Saratoga Springs, Teddy Foster started to cry. That night was about two weeks ago. Contractors, UPH staff and board members and employees of its parent organization, Proctors in Schenectady, had gathered for a private concert to give a formal acoustic tryout for the hall after more than 18 months of construction. For Foster, it was the most significant moment thus far signaling that a long-held vision had been realized.”
“John Vogel and Tire Conversion Technologies are searching for a new location that would allow the rubber parts maker to increase production by 50%.
The chief executive officer just surpassed $1 million in sales during his last quarter for the first time in the company’s 22-year history. The Latham manufacturer is on pace to match that performance this quarter as it continues to attract more business since opening an office in Edinburgh, Scotland, six months ago.”
“The Fort Edward Local Property Development Corp. and the Warren-Washington Industrial Development Agency board cleared the way Monday for WL Plastics to buy part of the former dewatering plant property.
Two crucial issues had to be resolved. WCC owned both of the entrances to the property, and the property owes nearly $1 million in unpaid taxes. That’s more than the negotiated price with WL Plastics, and the company does not want to pay off the remaining taxes itself.”
“Hudson Valley Community College wants to build a 125,000-square-foot technology center capable of producing 4,700 welders, auto mechanics, pipe fitters and technicians over the next decade.
The three-story, $65 million to $70 million training hub is part of HVCC president Dr. Roger Ramsammy’s strategy to position the two-year Troy school to help resolve a growing demand for skilled trades people.”
“Reg Harnish is onto his next act 15 months after leaving the CEO job at GreyCastle Security — the cybersecurity company he helped build into an Inc. 5000 fastest-growing company over seven years.
Harnish has started a new business, Slingshot Cyberventures, that will help startups navigate the kind of fast growth that GreyCastle experienced. The business plan: ‘Work hard on something meaningful, avoid all bullshit and have fun.’”
“The Capital Region Aquatic Center’s board of directors announced Tuesday that they had received another commitment of funding for the $30 million facility proposed for construction at Mohawk Harbor.
The Dake family and Stewart’s Shops, the Malta-based convenience store chain operated by the Dakes, have committed $250,000 to the facility, which would feature four pools for training, competition and diverse swim programs such as learn-to-swim, exercise and rehabilitation.”