April 26 2024

CEG Economic Development Week in Review April 22-April 26, 2024

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:



Saratogian: Centrotherm Eco Systems celebrates move to Waterford

Troy Record: Centrotherm Eco Systems celebrates move to Waterford

NYSERDA: Steps Forward Announced to Support New York’s Clean Energy Industry

North American Wind Power: New York Seeks RFPs for Logistics, Announces RFI for NY5

Energy Central: N.Y. Gov. Hochul Announces Steps Forward to Support New York’s Clean Energy Industry



Albany Inno – RPI wants to put $10 million behind startups

“Rensselaer Polytechnic Institute is taking big steps to inspire more entrepreneurship from the university – a plan that includes a $10 million investment fund and new incubators.

The new RPI Ventures includes the Severino Center for Technological Entrepreneurship — the university’s entrepreneurship program that’s been undergoing changes — as well as a multimillion-dollar early-stage startup fund and a brain trust.”

MiSci gets $10M in state budget funds for renovations and rebranding

“The new state budget includes a $10 million grant to help revitalize the Museum of Innovation and Science, the downtown institution that weighed leaving the city over the state of its aging building.

Assemblyman Angelo Santabarbara, one of the politicians working to keep miSci in the city, announced Sunday that his office had secured the funds to help ‘address critical infrastructure needs and support revitalization initiatives planned for the museum.’”

Brian Corrigan’s Rocket Science Group will start multiple video game studios under new structure

“Video game development company Rocket Science has changed its structure to attract top-level talent and scale.

Earlier this year, Rocket Science became the Rocket Science Group, which created a structure in which the company could become a collection of smaller studios that operate mostly independently. The parent group provides shared services such as recruiting, sales, marketing, human resources and accounting.”

Company turning grain byproduct into leather gets $65K grant

“A Troy company converting grain byproducts into plant-based leather products received a $65,000 grant from a nonprofit that supports manufacturers across New York.

On Monday, Albany-based FuzeHub announced the grant, which it said will go toward helping Uncaged Innovations Inc. meet the tastes of designers by enhancing the “material finishing techniques” used in its products. Uncaged, a biotechnology company founded in Troy, uses grain byproducts to make plant-based leather for the fashion industry and vehicle interior décor.”

Scannell Properties seeks tenants for Wilton warehouse project

“Scannell Properties of Indianapolis is seeking tenants for a new distribution site the developer plans to build in Wilton, off Exit 16 of the Northway.

Scannell recently listed for lease a 64-acre site on Ballard Road with the potential to build one 434,000-square-foot building, or two separate buildings of 305,000 square feet and 156,000 square feet.”

Breeze Airways tops Albany airport’s wish list for new carriers

“As discount carrier Avelo Airlines prepares to start service May 10 from Albany to Raleigh-Durham, North Carolina, airport officials are continuing their efforts to bring another low-cost airline to Albany.

At the top of the list is Breeze Airways, another startup carrier that has been growing quickly.”

Todd Kletter on acquiring Crane Stationery and advising other businesses

“Back in mid-February, the future of Crane Stationery appeared in doubt, at best. 

As The Fedrigoni Group’s lender-initiated deal to purchase Mohawk Fine Papers neared completion, the dozens of employees of Crane, a Mohawk business unit since 2018, were laid off. “

Funding Partners