May 5 2017

CEG Economic Development Week in Review – April 29 – May 5, 2017

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:


Saraogian: Spa City to host semiconductor conference


Startup spun out of SUNY Poly raises new money from angel investors

“Glauconix Biosciences, a pharmaceutical research startup in Albany, New York, has raised $250,000 toward propelling the company’s growth.

It’s the latest investment for the startup that was spun-out of SUNY Polytechnic Institute. Glauconix Biosciences was co-founded by Karen Torrejon while she was a Ph.D. student at SUNY Poly. The company develops a more effective drug screening to prevent glaucoma, and is starting to expand into solving other ocular problems.”

GE displays latest technology under development

“General Electric Global Research rolled out some of its newest technology Friday in a display for journalists of new initiatives that might some day provide the industrial conglomerate with its next big thing … or just make one of its current products a little better.

STEMcation, as the event is called, included a spectrum of technology and applications from real-time monitoring of human sweat, to remote control of robots large and small, to cloud-based industrial analysis of house-sized equipment on the other side of the globe.”

Espey of Saratoga planning $5.3 million expansion

“Espey Mfg. of Saratoga Springs is planning a $5.3 million expansion of its Saratoga Springs site where it makes electrical equipment used by the military and industrial clients.

The company is seeking more than $600,000 in tax incentives from the Saratoga County Industrial Development Agency for the project. The IDA board will review the request at its May 8 meeting.”

Albany is one of 4 US metros with ‘inclusive’ growth, report says

“Albany, New York, is one of only four U.S. cities achieving “inclusive economic growth” across racial and class lines, according to a report from the Brookings Institution.

Brooking’s Metro Monitor report, released in March, tracks the 100 largest U.S. metro economies’ growth, their relative prosperity (measured by productivity and standard of living) and relative inclusivity (measured by how cities have “narrowed economic disparities”).”

Tech company is seeking tax breaks to expand, create new jobs in Saratoga County

“Kitware, a software development firm based in Saratoga County, New York, is applying for more than $400,000 in tax breaks to expand to a new headquarters in Clifton Park.

The application, which was presented to the Clifton Park Industrial Development Agency on Monday night, would allow Kitware to keep its headquarters in Saratoga County and retain 88 jobs.”

How Wegmans, CVS started selling this Saratoga company’s cold-pressed juices

“The owners of Saratoga Juice Bar are focused on expanding their wholesale cold-pressed juice business in 2017 after selling one of their restaurants earlier this year.

Christel and Colin MacLean started the cold-pressed juice business with a storefront on Broadway in Saratoga Springs in 2013. They expanded to the wholesale business in 2015, with Skidmore College and GlobalFoundries as the first clients.”

Grape industry continues to grow in region

“For an area so rich in agriculture, grapes were never very popular — until recently.

A report, conducted in October 2016 and released this year, shows northeastern New York has seen a huge bump in grape production since 2001.

The report, ‘Grape Production in the Eastern New York Commercial Horticulture Region,’ said the growth has been particularly notable in Saratoga, Washington, Essex and Clinton counties.Those four counties went from close to zero acres of grape production in 2001 to nearly 100 acres in 2012.”

Science center planned for Duanesburg

“Plans to build a science and technology center next to the Duanesburg YMCA will be discussed at a meeting Thursday evening at the YMCA.

The Schoharie Mohawk Initiative for Science and Technology has acquired a 1-acre site for the center next to the YMCA. The initiative’s board of directors will host the public meeting, which will start at 6 p.m., to discuss the plans.”

 Kennedy: Saratoga Springs attracts tech conference

“Later this month, Saratoga Springs again will play host to a technical conference for the semiconductor industry, as it has each May since 2011.

Todd Garofano, president of the Saratoga Convention and Tourism Bureau, sees the conference as a feather in the city and county’s cap, since the multi-day meeting, known as the SEMI Advanced Semiconductor Manufacturing Conference, used to be held in “’tier-one destinations’ and ‘never [in] the same location twice.’”

Twin Counties, college chart job courses  

“Greene County lawmakers and the Columbia County Board of Supervisors have been meeting with Columbia-Greene Community College President Jim Campion to discuss the possibility of offering majors to give graduating students a greater chance of finding employment.

Lawmakers and supervisors met twice with Campion prior to a March 29 meeting and discussed courses available for the appropriate industries in Greene County, Legislator Matt Luvera, R-Catskill, said.”

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