March 31 2017

Week in Review: March 25-March 31, 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:



Business Review: Center for Economic Growth surpasses $6 million campaign goal

UAlbany: Partners in Growth and Innovation  

Troy Record: Regional development group hits $6M target for capital campaign

Times Union: CEG hits $6 million fundraising goal

Daily Gazette: CEG reaches $6M capital goal for development initiative

Business Review reports on CEG study showing Albany metro area has nation’s 7th most academic engineering R&D space

Times Union: CEG study shows ‘Region good for Engineers’


Korean company opening office at SUNY Poly

“A South Korean company plans to set up its East Coast headquarters on SUNY Polytechnic Institute’s campus in Albany, New York.

Park Systems Inc. is signing a five-year lease for a 2,899-square-foot office space on the first floor of SUNY Poly’s NanoFab East building. The company, which was founded in 1997, works in atomic force microscopy, which is often used in the semiconductor industry.”

Feds approve Regeneron’s new eczema drug

“Drug developer Regeneron Pharmaceuticals won federal approval Tuesday for its new eczema treatment, which analysts are projecting could lead to more than $3 billion in annual sales.

Regeneron (NASDAQ: REGN) and its partner Sanofi received approval from the U.S. Food and Drug Administration for Dupixent. The drug has been described as the first of its kind to treat eczema or atopic dermatitis for patients who do not respond to atopical steroids.”

Semiconductors to keep changing world, leader says

“When the semiconductor industry has evolved from the transistor radio of 50 years ago to the ubiquitous smart phone that puts the world’s knowledge at one’s fingertips, it’s not hard to argue that the industry has changed the world.

Semiconductors — the microscopically small electrical circuits inside computers — are going to keep changing the world in ways that can’t yet even be imagined, said Thomas Caulfield, GlobalFoundries senior vice president and general manager of Fab 8.”

Hedge fund with Trump ties moving into New York solar power market

“A renewable energy company aligned with the world’s largest hedge fund — whose owner is President Donald Trump’s jobs czar — is looking to build solar farms in the Capital Region, Adirondacks, and the Hudson and Mohawk valleys.

“We are very excited about New York,” said Matthew Rosenblum, CEO of New York City-based Onyx Renewable Partners. He said company-built solar farms should start going online by early 2018, with the power being purchased by “commercial and municipal customers” of National Grid.”

Capital Region jobless rate 4.6 percent in February

“The Capital Region had a 4.6 percent unemployment rate in February, unchanged from January but slightly higher than the 4.5 percent rate reported in February 2016.

The state Department of Labor announced the statistics Tuesday, and the Albany-Schenectady-Troy metropolitan statistical area again enjoyed one of the lowest unemployment rates in New York state.”

Funding Partners