January 19 2018

CEG Economic Development Week in Review – January 15 – January 19, 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:


Times Union cites CEG research: Proof is in the patents with Capital Region chip research

CEG’s Kennedy talks to the Times Union about immigrants’ impact on region’s economy


Palace Theatre executive’s vision for revitalizing downtown Albany

“Susan Rosko Fogarty, executive director of the Palace Theatre, said major renovations to the theater are a critical piece to transforming downtown Albany, New York, into a place where people want to live and businesses want to grow.

‘Even though we’re enjoying a reasonable rate of unemployment in the northeast, you talk to business leaders and there’s still a mismatch in the skillset,” Fogarty said. “The folks people are trying to attract to this area are still not always coming here. And then you go to the intangible, how many businesses are not coming here that we don’t even know about because we don’t have enough to offer.’”

Developers’ discovery of Rensselaer leads to apartment boom

“Construction of apartments is surging in this city as developers add homes for people looking for jobs private sector and public jobs in the so-called “Rensselaer Triangle,” official said.

Millions of dollars have been spent over the last year to to build apartments that have increased the city’s housing units by 4.5 percent.”

Four biotech start-ups awarded $40,000 prize

“Four companies were awarded a total of $40,000 in cash and services on Tuesday as part of a program that helps biotechnology start-ups bring their products to market.

The firms presented business plans last December during a competition as part of the BACC Academy, a partnership between Albany Medical College and Siena College and an extension of the Biomedical Accelerator and Commercialization Center at Albany Med.”

Designer of trade show exhibits and museum displays acquires land, will expand

“Empire Exhibits & Displays Inc. will spend up to $500,000 to build more production and warehouse space in Halfmoon, New York.

Owner Craig Koehler is expanding the business after purchasing 2.7 acres from the owners of the former DiSiena Furniture.”

Schenectady-based Transfinder reports 20th year of record revenue

“Transfinder, the Schenectady-based transportation software company, generated record revenue of $13.67 million in 2017, an 8 percent increase over the previous year when it brought in $12.65 million in revenue.

Transfinder sells bus routing software to school districts but has been branching out into municipal and health care transportation software as it looks to diversify its customer base and keep growing.”

Schools create fast-track to careers at GlobalFoundries

“Capital Region BOCES will create a new pipeline of technicians to troubleshoot delays and repair equipment at the GlobalFoundries computer chip plant in Malta, New York.

High school seniors from 23 school districts and adults will begin enrolling in the coming weeks for a year-long engineering technician training program that begins in September.”

Funding Partners