CEG Economic Development Week in Review March 13 – March 17, 2023
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CEG IN THE NEWS
Daily Gazette: Unemployment average in greater Albany metro region up slightly from 2022
REGIONAL ECONOMIC DEVELOPMENT NEWS
LED lighting firm G&G wants to expand into the Saratoga Technology + Energy Park in Malta
“G&G Industrial Lighting is targeting a state-owned technology park property west of the GlobalFoundries computer chip complex in Malta as a potential new home headquarters and operations center.
The 13-year-old manufacturer of rugged LED lights for bridges, car washes, tunnels and food factories is looking to double its space by renovating and expanding a vacant 23,000-square-foot building in the state-owned Saratoga Technology + Energy Park at 10 Hermes Road in Malta, according to documents filed with town planners.”
Healgen Scientific acquires American Bio Medica factory and headquarters as part of asset purchase
“Healgen Scientific of Houston has acquired drug test kit maker American Bio Medica Corp.’s 22-acre factory and corporate headquarters in Columbia County, part of an agreement approved in February to acquire the majority of the upstate New York manufacturer’s assets.
American Bio Medica shareholders voted last month to sell the firm’s assets to Healgen Scientific for $3 million after the two companies spent five years working together through distribution agreements.”
Leaders from St. Peter’s Health Partners, NYOH on potential of AI
“Artificial intelligence technology is quickly becoming a part of all sorts of workplaces. And the same could be true — and in some instances, is already true — in health care.
Local health care executives said they see potential in AI and a future where the technology is able to strengthen connections between patients and providers. Recent developments like ChatGPT are already being implemented locally in industries like software development, and the uses for technology like it could play a role in alleviating the health care workforce crisis.”
Moody’s upgrades Momentive Performance Materials’ ratings after restructuring, strategy shift
“A growing share of the international specialty silicones market was among the drivers leading to Momentive Performance Materials’ ratings upgrade from Moody’s Investors Service this week.Moody’s announced the upgrade Monday after Momentive spent three years restructuring its business and shifting toward higher-margin product lines and away from silicones commodities.”
At a Steam-Age Arsenal, U.S. Army Forges Cannons for a Digital Era, War in Ukraine
“On a military base more than two centuries old, the Army is hammering out its cannon of the future.
The Watervliet Arsenal opened during the War of 1812 and one building dates to 1828. Yet inside an aging production hall, new digital machine tools that resemble science-fiction space pods are churning out components for Abrams tanks, a weapon pledged for fighting in Ukraine. In another hall, an automated forge pounds red-hot metal cylinders into 20-foot gun barrels for America’s next howitzers, which will lob shells more than 40 miles.”