May 26 2017

CEG Economic Development Week in Review – May 20 – May 26, 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:


Chip equipment startup at SUNY Poly gains traction

“A semiconductor manufacturing startup based at SUNY Polytechnic Institute in Albany is thriving despite all of the upheaval lately at the school.

Neutral Physics Corp., a joint venture between Exogenesis Corp. and Sematech, the computer chip manufacturing consortium based at SUNY Poly, had its new atom beam “tool” delivered to one of SUNY Poly’s chip manufacturing clean rooms just this week to begin “alpha” testing.”

RPI, IBM team on health care initiative

“IBM and Rensselaer Polytechnic Institute are partnering to study how modern computing can help medical professionals treat patients with chronic diseases or even help people avoid such diseases as diabetes and hypertension.

Officials from the college and the technology giant announced last week creation of the new Center for Health Empowerment by Analytics, Learning, and Semantics on the RPI campus, a five-year collaborative research effort aimed at researching how the application of advanced cognitive computing capabilities can help people to understand and improve their own health.”

Mohawk considering Port of Albany expansion

“Mohawk chief executive Tom O’Connor Jr. is considering an 80,000- to 100,000-square-foot expansion at Mohawk’s Port of Albany site as the fourth-generation paper manufacturer works to expand its paper converting business.

Mohawk is headquartered in Cohoes, New York, and has opened envelope plants over the past few years in northeastern Ohio and western Massachusetts. Six years after getting into the envelope manufacturing business, Mohawk makes roughly 2 billion envelopes a year.”

Money and jobs flow as Fab 8 preps for 7 nm chips

“As GlobalFoundries prepares to make next-generation computer chips using 7 nanometer architecture at its Fab 8 factory in Malta, construction and engineering firms and high-tech consultants from all over the country are gearing up for billions of dollars in potential new work at the facility.

One of them is JE Dunn Construction out of Kansas City, which is well-known for its high-tech work in other parts of the country but is a relative newcomer to upstate New York.”

GlobalFoundries getting $7.5 million from NY for Malta fab

“Gov. Andrew Cuomo’s economic development agency is looking to provide GlobalFoundries $7.5 million to help pay for a new, $200 million extreme ultraviolet lithography tool to be installed at its Fab 8 computer chip factory in Malta.

The grant comes from a $207.5 million fund created by Cuomo in the 2017-18 state budget to support initiatives at SUNY Polytechnic Institute in Albany.”

Rivers to hold job fair to fill hotel, casino positions

“Rivers Casino & Resort is hosting another job fair, this one focused on filling roughly 150 positions, many of them at the soon-to-open hotel.

The event will take place from 10 a.m. to 3 p.m. on June 3 in the casino’s event center. The Landing Hotel is on schedule to open in July and will employ about 60. An official opening date has not been set.”

Albany-based Leosons honored as a top U.S. exporter

“Albany-based Leosons Overseas Corp. this week received the President’s “E” Award recognizing its contribution to the expansion of U.S. exports. U.S. Commerce Secretary Wilbur Ross presented the award on Monday at a ceremony in Washington.

The company distributes pharmaceuticals with a focus on the Mideast and Africa.”

GE unveils largest solar carport in upstate New York

“General Electric debuted a big new solar panel array outside the headquarters of GE Power on Thursday, inviting political and business leaders, the media, and project leaders within the company to mark the occasion.

The one dignitary that didn’t get the memo was Mother Nature … but she showed up anyway.”

StartUp meeting offers advice, success stories

“The Electric City Innovation Center on Wednesday launched StartUp Town Square, an entrepreneurial program to boost the ecosystem in which young companies operate.

ECIC is a co-working environment and as such is a good place for collaboration, said Jeff Goronkin, CEO of ECIC and founder of StartUp Town Square. But the monthly program will provide a larger group of potential contacts for networking and learning, he said.”

Glens Falls Downtown Revitalization Initiative plan approved

“The Glens Falls public arts trail will be the first project to be implemented, now that the state has approved the city’s Downtown Revitalization Initiative.

The launch of a contest for small business start-up funding is another initial priority, said Edward Bartholomew, president of EDC Warren County and administrator of the local Downtown Revitalization Initiative grant.”

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