June 10 2022

CEG Economic Development Week in Review: June 6 – June 10, 2022

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:



Albany Inno – Aptihealth and Nfrastructure veteran sees huge potential in his AI startup

“A startup software veteran from Aptihealth and Nfrastructure says he is pioneering a new AI technology with huge potential.

The early technology being developed by Helios Life Enterprises can analyze and derive meaning from tonal shifts in speech, said Sean Austin, founder of the Saratoga Springs startup.”

Albany Inno – Electric jet engine startup backed by Y Combinator sets up HQ in Malta

“Wright Electric, a startup that’s developing electric engines for commercial jets, is establishing a physical headquarters in the Capital Region.

The startup is now in the process of outfitting a 6,000-square-foot space inside a larger building in the Saratoga Technology + Energy Park (STEP) in Malta, according to Jeff Engler, founder and CEO of the company. The space has been designed to accommodate high power and high voltage for testing motors and motor controllers.”

Developers look to make $13.9 million investment in Airport Business Park in Glenville

“The sale of two county-owned parcels at the Airport Business Park in Glenville, which are slated to provide revenue to the county and generate a $13.9 million investment in the area, will be the topic of a public hearing on July 5.

The county would sell one 2.68-acre lot and another 3.64-acre lot for $100,000 per acre at a total cost of $614,000. However, the county would only receive revenue of $503,600 because they would credit the developers $110,400 for having National Grid utilities moved on the land.” 

Albany Inno – Plan for Green Island EV campus includes three buildings and a wind turbine

“The initial plans have been drawn up for the potential future home of an electric vehicle manufacturer in Green Island. 

The tentative plan for Green Island EV includes three major construction projects, according to John Gillie, founder and CEO of the early-stage startup.”

IBM’s Mukesh Khare on Albany Nanotech and semiconductor research

“Mukesh Khare got his first job at IBM after he met a former vice president in an elevator at a conference.

Her name was Lisa Su – now the CEO of AMD and one of the most celebrated CEOs in the industry, Khare said. He introduced himself and she invited him to submit a resume.”

How Salesforce software developer Red Argyle returned to growth post-pandemic

“When a software company says it works in Salesforce, that could mean a lot of things – there are about 50 Salesforce products on the market.

The leaders at Red Argyle – which primarily develops custom software that expands a company’s Salesforce capabilities – realized it’s better for business to focus on four or five or those products rather than a wide range.”


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