April 28 2023

CEG Economic Development Week in Review April 24 – April 28, 2023

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:


Central New York Business Journal: FuzeHub announces this year’s first round of manufacturing-grant recipients

Dwell: How to Sell a City

WNYT News 13: Capital Region mining industry providing big support to road crews



Boozy Moo Ice Cream buys production facility

“Leyla Kiosse needed a commercial-sized kitchen to ramp up production of her alcohol-infused ice cream.

For the past three years, she’s been making the product — called Boozy Moo — in small batches in the kitchen of The Yard Hatchet House and Bar, an axe-throwing business she owns in downtown Albany.”

GlobalFoundries, RPI partner on semiconductor manufacturing course

“About 50,000 workers will be in demand over the next five years as the U.S. spends tens of billions of dollars subsidizing a new wave of computer chip factories across the country.

That’s why Rensselaer Polytechnic Institute in Troy and GlobalFoundries have partnered on a new course at RPI called Topics in Microelectronics Manufacturing.”

Glens Falls among 64 chosen for federal ‘Thriving Communities’ program

“The U.S. Department of Transportation has chosen Glens Falls for its competitive “Thriving Communities” grant, one of just 64 communities nationwide.

The funding is aimed at helping smaller communities have a better opportunity at benefiting from federal infrastructure funding.

Startup hopes to save forests by producing hemp lumber

“While billions of trees are cut down annually to clear space for agriculture and obtain wood for manufacturing and construction, a Rotterdam-based startup believes the future of industrial lumber doesn’t require razing forested land.

In fact, it doesn’t require trees at all.”

Feds release plans for national chip lab being pitched for Albany Nano

“The U.S. Commerce Department released new details on a new federal computer chip manufacturing research and development center that could possibly be built at the state’s Albany Nanotech complex on Fuller Road.

The National Semiconductor Technology Center as it will be called is being funded by the $52 billion CHIPS Act pushed through Congress last year by U.S. Senate Majority Leader Charles Schumer of New York.”

GlobalFoundries buys remainder of Luther Forest Tech Campus in Saratoga County

“Computer chip maker GlobalFoundries purchased the remaining 800 acres of undeveloped property in the Luther Forest Technology Campus in Saratoga County Wednesday, securing real estate needed to accommodate a proposed second factory.

GlobalFoundries paid $13.2 million, or roughly $16,000 an acre, for property that covers portions of Malta and Stillwater. The transaction closed nine months after the company received municipal approval to build a $6 billion to $8 billion factory to increase production capacity.”

Albany Inno – PopPD lands pre-seed investment

“An education technology startup founded by a local teacher just secured investment from a fund.

PopPD is a startup with a software platform where educators can post video lessons to help other teachers with professional development in the classroom. Co-founder Alissa McDonald is a former South Glens Falls teacher. She’s now based in Saratoga Springs.”

Albany Inno – RPI president urges regional, collaborative approach to innovation

“Rensselaer Polytechnic Institute’s president is committed to making the university a leader in regional collaboration.

At the university’s “Invest in the Capital Region” event Wednesday, Martin Schmidt said during a panel discussion about how to build the life sciences ecosystem in the region that he’s aiming to collaborate with other institutions in the area and find ways to translate innovation out of universities.”

Funding Partners