February 9 2018

CEG Economic Development Week in Review – February 5 – February 9, 2018


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’s Kennedy talks to the Daily Gazette about STEM careers and the Workforce 2025 conference

All Over Albany: Upstate Alliance for the Creative Economy roundtables


Inside the cutting edge

“It’s not easy working in a place where a careless mistake can cost your company a quarter of a million dollars.

But then again, working 12-hour days, dressed up head-to-toe in a polyester “bunny suit,” including a hair net, surgical mask and two pairs of gloves that fit too tight isn’t easy either.”

The U.S. Already Has Bleeding Edge Technology Manufacturing With GlobalFoundries Fab 8 In Malta, NY

“There has been more talk than ever in the past 18 months about the lack of high tech manufacturing in the US. This was highlighted in the recent election, and Apple was dragged through the mud a bit afterward with its China-only iPhone manufacturing. I was reminded last week that there is, in fact, bleeding edge technology manufacturing done in the US. I had the unique chance to tour the secret insides of GLOBALFOUNDRIES aka “GF” Fab 8 in Malta, New York, and want to share with you some of the key takeaways. After touring the facilities and meeting with senior executives, I can safely say the company’s claim of “the most advanced pure-play semiconductor factory campus in the U.S.” is accurate.”

Albany tech companies join forces in $14 million acquisition, plan hires

“Two blockchain companies based in Albany are joining forces and planning to hire around 130 people by the end of 2019.

HashChain Technology Inc. (TSXV:KASH) (OTCQB: HSSHF) is acquiring NODE40 for $14 million in cash and stock combined, a move that will allow both companies to diversify and expand their services. HashChain is a cryptocurrency mining company, while NODE40 provides dash masternode services and cryptocurrency reporting software that helps assess gains, losses and other information for tax purposes.”

Malta Tour Shows GF Rising

“Since the split from AMD in 2009, GlobalFoundries has acted as an independent foundry. It’s much larger rival TSMC is the only other chip maker that can be considered both a pure-play and a leading-edge foundry.

In its early years, GF was dependent on AMD for the majority of its revenue. The lack of competitiveness of some AMD CPU products meant lower throughput for the fabs.”

Plug Power CEO: 2018 focused on growing core business after 2017 ‘disappointments’

“Plug Power CEO Andy Marsh said the Latham, New York, fuel cell manufacturer is preparing for a year focused on growing its core material handling businesses, and is expecting revenues to increase between $25 million and $50 million.

“’Most of work associated with 2018 improvements are critical to not only our near-term success, but our future,” Marsh said during a conference call with investors on Thursday. “We are laser focused with succeeding not at some future date, but this year.’”

Hunter Mtn. expansion approved

“Plans to expand Hunter Mountain were approved this week, but the green light came on the heels of a resident citing possible environmental issues.

Hunter Mountain proposed building five new trails, a new parking lot with 268 spots, a pedestrian bridge and a new access road off Deming Road. Some of the expansion crosses into the town of Jewett, according to the plans.”

The Business of Digital Games at TVCOG

“The Tech Valley Center of Gravity in Troy is hosting an afternoon of discussions about the video game industry — “The Business of Digital Games: Understanding the Landscape of the Industry” — on March 7.”

Funding Partners