January 29 2018

CEG Economic Development Week in Review – January 29 – February 3, 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: CEG and ACE Roundtable highlights creative economy

The Record: CEG and Ace to host business roundtable tour


These are the Albany area’s top tech startups

“The term “Tech Valley” was coined in the late ‘90s as a way to describe the Albany, New York, area, highlighting our region’s growing high-tech footprint. Many of those companies are large now, but like the entries in this year’s Technology Startup List, they were once small.

Check out the slideshow above to see which companies made the List.”

Hacker to sell boats in Southeast Asia

“Hacker Boat Co., the classic mahogany motorboat maker, announced last week it will carry the Hacker-Craft line in Southeast Asia.

Classic Boats Lifestyle Ltd. is the official dealer for the new markets in Thailand, Laos, Cambodia, Vietnam, Malaysia, Singapore and Myanmar, according to a news release.”

Stone Stash moving to larger space in The Shirt Factory

“Tyler Poquette is accustomed to having to move his business of selling precious gems.

When he and business partner, Steven Pugh, grew out of Poquette’s studio apartment, they relocated to the basement of Pugh’s parents’ house. They grew out of that space last July and moved into The Shirt Factory on Lawrence Street. Poquette’s fiancée, Ashley Barnes, is a third partner in the business.”

Brandsight Inc. joins Start-Up NY program

“Saratoga Springs-based internet domain name registrar company, Brandsight Inc., has joined the Start-Up NY program and is partnering with SUNY Adirondack.

The company was included in a list released this week by Empire State Development of 23 businesses that are participating in the program, which provides income and sales tax breaks to businesses for 10 years if they locate within a mile of a SUNY college.”

23 companies selected for Start-Up NY program

“Twenty-three businesses will partner with local colleges and universities to create jobs in upstate New York through Gov. Andrew Cuomo’s highly touted Start-Up NY program.

The companies, spread across seven regions, plan to create nearly 300 new jobs and invest about $9.8 million over the next five years, according to a release by Empire State Development. Company industries include biotechnology, craft beverage production and manufacturing.”

New uptown Hudson hotel stays true to its roots

“Hudson’s newest hotel sold out on its first holiday weekend.

The Wick, a 55-room boutique hotel, officially opened Dec. 19 and has been selling out its rooms since.”

Fab 8’s move to 7 nanometer chips more important than ever

“GlobalFoundries move this year to making better-performing chips using 7 nanometer architecture at its Fab 8 factory in Saratoga County can’t come soon enough.

Advanced Micro Devices, GlobalFoundries biggest customer, says it is chomping at the bit to get 7 nanometer chips as soon as possible, and GlobalFoundries plans to be making them in large volumes later this year.”

Developer maps out plan for 1 million-square-foot office park in Saratoga County

“Real estate developer Mark Rekucki plans to acquire 180 acres in Clifton Park, New York, where he wants to build up to 1 million square feet of office, manufacturing and warehouse space.

The proposed Synergy Tech Park would be located off Route 9 and Kinns Road, a mile south of Exit 10 of the Interstate 87 Northway.”

Office vacancy rates improve in downtown Albany, Troy and Saratoga

“There was less empty office space in downtown Albany, Troy and Saratoga Springs during the second half of 2017, largely because older buildings are being converted into apartments, according to CBRE-Albany.

Another factor: more technology and start-up companies want to locate in central business districts where their employees can live in the same community.”

Capital Region broadband awarded $211.3M

“Greene and Columbia counties won big in the third and final round of Gov. Andrew Cuomo’s initiative to secure high-speed internet for underserved areas across the state.

Nearly $211.3 million was awarded to broadband companies in the Capital Region on Wednesday as the final of three phases under the New NY Broadband program, which seeks to bring high-speed internet to every state resident by the end of 2018 through joint public-private investments in telecommunications infrastructure.”

RPI prof who invented Siri tech got big royalty check

“The Rensselaer Polytechnic Institute professor who invented the technology behind the iPhone’s Siri voice recognition capability received a large royalty payment two years ago when the school settled a legal dispute with Apple.

Cheng “Kent” Hsu, a professor of both industrial and systems engineering and information technology at RPI, received an $871,500 royalty payment from RPI in 2016, according to the school’s tax filing that year.”

With state grant, now Common Roots can can

“Lt. Gov. Kathy Hochul gave Common Roots a top grade for its use of a state economic development grant.

“I’m very impressed,” Hochul said. “I’m glad to see you put the money to good use.”

The company, run by father and son, built an automated canning line and an outdoor bulk grain silo to make the brewery more productive.”

Troy-based startup raises $100K, makes plans with Zogby

“Our.News, a Troy-based startup on a mission to combat fake news with its crowdsourced news validation platform, has some big plans for 2018.

The Our.News platform allows anyone to participate in the news by simplifying fact-checking, and letting users rate news content on various factors.”

Funding Partners