CEG Economic Development Week in Review January 27-January 31, 2025
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CEG IN THE NEWS
CBS 6: Capital Region sees record rise in start-ups, with 76 new businesses launched in 2022
REGIONAL ECONOMIC DEVELOPMENT NEWS
Morcon Tissue to move HQ to Saratoga Springs, makes offer on Essity facility
“Washington County manufacturer Morcon Tissue is ready to make a move.
The company is moving its corporate headquarters from Eagle Bridge, where it has offices and a 30,000-square-foot production facility, to downtown Saratoga Springs.”
University at Albany wants to construct $250M Health Tech building
“The University at Albany wants to build a $250 million Health Innovation & Technology Research Building on its uptown campus to do research and teach students in fields such as chemistry, biology, public health and artificial intelligence.
The university is seeking the funding in the state budget for the 150,000-square-foot building as part of its growing emphasis on publicly funded research.”
Philips Medical planning $14M power upgrades in Latham
“Philips Medical Systems is planning a $14.1 million upgrade to the power infrastructure that serves its research and manufacturing complex in Latham near Albany International Airport.
The project entails installing a new, higher voltage supply system at the Dutch health technology company’s Old Niskayuna Road facility, where it manufactures MRI magnets, according to a grant application submitted to an Albany County-aligned economic development agency.”
GE Vernova to invest $105M at Niskayuna research center
“GE Vernova will invest more than $105 million at its advanced research center in Niskayuna, the company announced Wednesday.
The investment will support construction of new labs, including a carbon capture complex, as well as expansion and rehabilitation of existing facilities, according to a separate announcement from Gov. Kathy Hochul.”
GE Vernova investing $90 million into Schenectady plant
“A day after announcing a $96 million expansion of its research labs in Niskayuna, GE Vernova showed off another $90 million investment underway at its historic Schenectady manufacturing campus.
GE Vernova was spun off from General Electric Co. in April of last year, part of a plan by the company to split into three separate companies.”