CEG Economic Development Week in Review October 12 – October 16, 2026
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
Semiconductor Digest: The Workforce Behind the Roadmap
Oswego County Business Magazine: Q&A with Randy Wolken: MACNY’s Expanding Footprint
REGIONAL ECONOMIC DEVELOPMENT NEWS
NSH USA completes $12M expansion at Menands campus
“One of the region’s largest manufacturers has expanded its Menands facility as demand grows in its longtime rail business as well as its newer aerospace and defense markets.
Machine-tool maker NSH USA Corp. recently completed construction of an 18,000-square-foot, high-bay addition at its campus off Broadway near the former Montgomery Ward warehouse.”
GlobalFoundries to build second fab in upstate New York
“Plans to build a long-awaited second computer chip factory at manufacturer GlobalFoundries’ campus in Malta are a go.
GF said Wednesday morning that it expects to break ground on the new facility later this year. The fab is expected to come online in 2029.”
Anderon Extends IBM’s Semiconductor Legacy To Quantum Foundry Services
“IBM and the U.S. government are making a $2 billion bet that the foundry model that revolutionized the semiconductor industry can do the same for quantum computing. Through its new Anderon subsidiary, IBM plans to leverage decades of semiconductor expertise and Albany NanoTech’s advanced 300mm manufacturing infrastructure to establish a commercial quantum foundry.”
Aeon Nexus Corp. wants to expand Albany headquarters with $6.65M investment
“Somebody apparently gave Omar Usmani “a goddamn reason” to spend more money in downtown Albany.
Usmani, CEO of Aeon Nexus Corp. at 138 State St. near the Capitol, wants to buy two adjacent buildings on historic Wellington Row to expand the software firm’s headquarters.”
Central Avenue property in Colonie set for redevelopment
“The first time Peter Crummey stepped foot onto the former National Lead Industries property along Central Avenue in Colonie, he was handed a geiger counter by a team of employees who walked him through the site.
It was 1983 and the then-deputy town attorney was tasked with investigating a growing number of environmental complaints lodged against the manufacturer that for years fabricated products using uranium and thorium under a license by the U.S. Atomic Energy Commission, and later built artillery projectiles using depleted uranium.”
