September 29 2023

CEG Economic Development Week in Review September 25-September 29, 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:



Times Union: Seen: Center For Economic Growth’s 2023 Annual Meeting



GlobalFoundries officially requests CHIPS funding from feds

“GlobalFoundries revealed Monday that it has filed two applications for federal funding under the CHIPS and Science Act for expansions at its computer chip manufacturing sites in Saratoga County and Vermont.

The $52 billion CHIPS program is designed to reinvigorate the U.S. chip manufacturing industry and its supply chains.”

Rural counties facing loss of population, jobs, new report says

“Many rural New York counties are facing difficult economic and quality of life conditions due to population loss, aging residents, a shrinking labor force and a lack of easy access to housing, health care, food and broadband, according to a state comptroller’s report released Monday.

The office of state Comptroller Thomas DiNapoli selected 10 counties for the review, none of which have cities with more than 10,000 people, to study New York’s rural trends. The counties examined are: Allegany, Chenango, Delaware, Essex, Greene, Hamilton, Lewis, Schuyler, Sullivan and Wyoming.”

GE Vernova awarded $22.9 million for clean energy research

“GE Vernova’s research lab in Niskayuna was awarded $22.9 million for four different research projects that advance offshore wind technologies.

GE Vernova is General Electric Co.’s energy division that is being spun off from GE next year, just as GE spun off its health care operations earlier this year. The plan will result in GE being split into three separate public companies, including GE Aerospace, GE’s aviation unit.”

HVCC to build $85m skilled labor center

“Citing a desperate need for lab space, Hudson Valley Community College is building an $85 million center to prepare students for skilled labor jobs.

It will allow the college to double the number of students enrolled in skilled trade programs, said President Roger Ramsammy.”

Funding Partners