CEG Economic Development Week in Review July 13 – July 24, 2026
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CEG IN THE NEWS
NY Creates: 2026 Annual Review
Daily Gazette: FuzeHub 2026 manufacturing grant recipients announced
REGIONAL ECONOMIC DEVELOPMENT NEWS
Velan Studios bounces back with Star Fox, One Monument Square plan
“Just over two years after Velan Studios had to lay off about a third of its workforce, the Troy-based video game company has bounced back in a big way.
The company just released a game with Nintendo, “Star Fox,” in late June and has plans to construct a new office in downtown Troy with Luizzi Cos.”
First components of ASML’s $400 million lithography tool arrive
“For months now, scientists and researchers on the campus of Albany NanoTech have been awaiting the arrival of a $400 million lithography system used to etch atomic-scale features onto silicon wafers.
On Tuesday, Gov. Kathy Hochul’s office announced that the first components of ASML’s TWINSCAN EXE: 5200 have begun arriving in Albany for installation in NanoFab Reflection, the new $600 million building at Albany NanoTech built specifically to hold the EXE: 5200, the centerpiece semiconductor manufacturing equipment at what’s being called the High NA EUV Lithography Center.”
Save A Lot to anchor Schenectady mixed-use development
“Grocer Save A Lot will anchor a $115 million mixed-use development on State Street in Schenectady that includes 171 units of affordable housing in the Hamilton Hill/Vale neighborhoods — a long-sought real estate deal that came together with government funding.
The 17,250-square-foot store will be built on vacant land at 750 State St. that was formerly the Mohawk auto dealership.”
Free Form Fibers plans $5.7M Latham manufacturing facility
“An advanced materials company has set its sights on a Latham facility to ramp up its manufacturing operations.
Free Form Fibers, which makes ceramic materials used in the aerospace and semiconductor industries, plans to spend $5.7 million to retrofit an existing 60,000-square-foot space in Latham for pilot-scale production, according to Albany County documents.”
P1 Industries makes move to Glenville, targets $60M in revenue
“P1 Industries is moving to a new, larger headquarters amid significant top-line and headcount growth.
The contract manufacturer has moved about 40% of its equipment into the $12 million, 90,000-square-foot complex in Schenectady County’s Airport Business Park in Glenville, according to CEO David Dussault, who expects the move to be wrapped up by October.”
TickDetect Brings AI-Powered Tick Screening To Warren County Residents
“When Tim Montgomery’s daughter made three visits to the emergency room in a single week, the diagnosis wasn’t the flu. It was babesiosis, a tick-borne parasite that attacks red blood cells. “She ended up spending three visits to the emergency room over a week with a temperature of north of 103 for the whole week,” Montgomery said. His sister also has battled Lyme disease for years, and his brother has been infected twice. “It’s just an awful thing,” he said.
Those family experiences, along with a tick Montgomery recently had removed from his back at Hudson Headwaters, led the Queensbury entrepreneur to build TickDetect, a free artificial intelligence tool that helps people — and their pets — check for ticks and tick-related rashes before the bites become more serious.”
Cottrell Paper Company Continues To Thrive Under The Leadership Of Fourth Generation
“Courtesy Cottrell Paper Company celebrated a century of producing high-quality insulating papers for a variety of electrical applications.
The fourth generation of the family continues to operate the mill established by Frank Cottrell Sr. and his two sons, A. Frank Cottrell Jr. and James T. Cottrell, on Kayaderosseras Creek in Rock City Falls.”
Tracker uses AI to digitize rental property inspections
“A few weeks ago, employees of Albany-based startup Tracker began scanning and documenting every inch of the Barnet Mills apartments in Rensselaer, which are scheduled to open this year.
The goal is to create a digital record of each apartment before tenants move in, giving property manager Burns Management a detailed condition report that can be used to identify damage and track repairs over time.”
