CEG Economic Development Week in Review May 8 – May 12, 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:
CEG IN THE NEWS
Spotlight News: BOCES National Signing Day
REGIONAL ECONOMIC DEVELOPMENT NEWS
New York adds $1B to cost of new Wadsworth Center lab
“The plan for the long-awaited overhaul of the Wadsworth Center, the state’s public health lab and research facilities, will cost taxpayers $1.7 billion, adding close to a billion dollars to the previously projected $750 million price tag.
The new laboratory, expected to be constructed on the Harriman Office Campus complex in Albany by 2030, seeks to consolidate five facilities currently in Albany and Guilderland into one modern campus, according to a Friday press release from the state Department of Health.”
Albany Inno – Troy startup lands partnership to pilot technology in emergency vehicles
“United Aircraft Technologies will test its technology in ground vehicles this summer.
The Troy-based company makes a device that holds electrical wiring in place and monitors the health of an electrical system. It was founded with an aircraft in mind, but the goal is to use the device in other types of vehicles or even the electrical grid.”
Albany Inno – This upstate investment startup has Chris Paul, other pro athletes as investors
“Former Siena College basketball star Michael Haddix Jr. is positioning his startup for the next phase of growth.
Haddix co-founded Scout, a financial investment/literacy platform for young athletes, that’s now based in Clifton Park. Haddix started Scout in 2021 as he and his family moved back upstate from New York City.”
G&G Industrial Lighting planning $5 million move to Saratoga County tech park
“Jason Baright is considering a $5.1 million factory acquisition and expansion project that would relocate his industrial lighting company from Halfmoon to a vacant state-owned property off Hermes Road in the Saratoga Technology + Energy Park in Malta.
The chief executive of G&G Industrial Lighting has been courted by multiple states including the Carolinas as he searches for additional space to allow his business to continue to grow. Founded in 2010, G&G designs and manufactures rugged LED lights used in car washes, tunnels and food factories. Annual revenue has grown from $4.45 million to $27 million over the past five years.”
“Canadian plastic pipe maker Soleno Inc. was awarded $2.1 million in state incentives for a proposed $19.5 million factory at the W.J. Grande Industrial Park in Saratoga Springs.
The 46-year-old, family-owned manufacturer plans to develop a portion of a 22-acre property in the northwest corner of an industrial park that is home to aluminum can producer Ball Metal, magazine printing company Quad and Anheuser-Busch distributor Saratoga Eagle Sales & Service.”
