CEG Economic Development Week in Review – November 19 – November 23, 2018
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CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Demand for locomotive power supplies fueled 11 percent sales growth at Espey Manufacturing & Electronics Corp. during the first quarter.
Sales increased to $8.34 million for the last quarter, up from $7.5 million for the same period last year.”
“Three rail projects in the Capital Region will share $4.2 million in state funding, Gov. Andrew Cuomo announced Monday.
Pan Am Southern LLC will receive $2.7 million to reconfigure and expand tracks at the Hoosick Junction Interchange; The Albany Port Railroad Corp. will receive $1.2 million for a new clean diesel locomotive; and the Schenectady County Industrial Development Agency will receive $300,000 to pay for rail improvements at the Glenville Business and Technology Park.”
“When Shane McMahon and Graeme Housser graduated from SUNY Polytechnic Institute in May 2018 with Ph.D.s in nanoengineering, they decided to pursue their business full time instead of taking traditional jobs.
McMahon and Housser started Lux Semiconductors in May 2017 to commercialize technology that makes super thin layers of silicon, which can reduce the cost of flexible devices.”
“Two SUNY Polytechnic Institute professors were awarded a total of $330,000 from two separate nanoscience and nano-engineering related grants.
Dr. Serge Oktyabrsky, a nanoscience professor, received $200,000 from the U.S. Department of Energy to research a new type of “scintillation detector,” which emits a high-speed light after detecting small particles.”
“Talk about mixed signals. On a day when the Dow tumbled more than 550 points, the state Labor Department announced that the Capital Region’s unemployment rate in October fell to a 17-year low.”
“An Albany Medical College professor is among those who have received a multimillion-dollar grant to continue researching a new treatment for brain tumors.
Their work could eventually enter a market that was valued at $426 million last year.”