Economic Development Month in Review: June 2020
For the Top Economic Development News of the Month, CEG selects news articles about projects or developments that promise to improve and/or transform the Capital Region’s economy, particularly those that related to manufacturing and initiatives outlined in, Capital 20.20, a five-year, multi-pronged plan for bringing economic prosperity to the entire region.
To learn about more the Capital Region’s economic development news from the past month, see CEG’s Economic Development Week in Review posts:
Cuomo: Capital Region on track for Phase 2 COVID-19 reopening Wednesday
“The Capital Region is on track to move to Phase 2 of the COVID-19 reopening process Wednesday, Gov. Andrew Cuomo announced in his press conference Monday.
Data is still being analyzed by experts for both the Capital Region and Western New York to finalize the move to Phase 2, Cuomo said.”
Reg Harnish starts new cybersecurity firm
“eg Harnish is heading a new cybersecurity company designed for small and mid-sized businesses.
OrbitalFire, which launched officially on June 1, already has nearly 40 customers in numerous industries, including health care, manufacturing, financial services and government.”
Ecovative spinoff gets $7M investment from big food industry names
“The plant-based meat startup Atlast Food recently closed on a $7 million investment from some big names in the food industry.
One of those names is Gary Hirshberg, who co-founded organic yogurt company Stonyfield Farm and later sold it to Danone. Another is Stephen McDonnell, who founded meat company Applegate Farms and later sold it to Hormel.”
Port of Albany expansion clears a regulatory hurdle in Bethlehem
“Plans to expand the Port of Albany by 80 acres to the south into the town of Bethlehem received a boost last week when the town planning board agreed to accept the State Environmental Quality Review or SEQR survey for the project.
Now the expansion needs to submit a site plan with names of specific tenants.”
Glenville steel company secures patent for massive assembly machine
“Dimension Fabricators won its second patent late last month, and while it’s closely related to the first patent, the two things couldn’t be much less alike.
The first was Cage-Rite, a clever but simple notched ring that holds steel rods in place for the assembly of cages that will reinforce concrete. The second is a 50,000-pound machine that spins the cage around and lifts the rods up for placement, cutting production time by 75% or more.”
UAlbany scientist gets $524,480 grant to study cyber-human systems
“Daphney-Stavroula Zois, an assistant professor in electrical and computer engineering at the University at Albany, has won a five-year, $524,480 grant from the National Science Foundation to study the interaction of physical cyber systems like robotic lawn mowers to body sensors with humans.”
Regeneron starts clinical trials with potential Covid-19 antibody cocktail
“New York drug developer Regeneron Pharmaceuticals started clinical trials to determine if its new antibody cocktail is capable of treating and preventing Covid-19.
The trials will focus on hospitalized Covid-19 patients as well as non-hospitalized people with Covid-19 symptoms. Testing also will include uninfected health care workers and uninfected people who may have been exposed to a roommate with the virus.”
Upstate New York machine shop makes $1 million bet to bring work back from China
“Elizabeth Miller and Doty Machine Works just invested $1 million to purchase a vertical milling machine that could help the Fort Edward company bring more manufacturing work back to the United States.
The computer-controlled Vision Wide 5-axis machine will allow Doty to take on larger milling jobs and reduce labor costs in the process.”
GlobalFoundries to acquire more land in Saratoga County
“GlobalFoundries has secured the right to purchase more land in Saratoga County near the chip manufacturer’s $13 billion Malta campus.
The announcement comes as lawmakers are considering investing tens of billions of dollars in America’s semiconductor industry over the next five to 10 years to help the United States compete with China.”
Plug Power bet $123 million on the hydrogen economy. It is just getting started
“Plug Power just invested $123 million to buy two hydrogen companies, a move designed to drive down costs, increase revenue and create a path to a bigger market.
The acquisition of United Hydrogen Group and Giner ELX Inc. will allow Plug Power to produce, store and deliver hydrogen for existing customers while opening up opportunities to supply manufacturers of ammonia, steel, concrete and computer chips.”
Jahnel Group expands as demand for software development surges during the pandemic
“Many businesses have suffered from shutdowns and slowdowns over the past three months because of the pandemic, but the Jahnel Group’s experience has been just the opposite.
Demand for its custom software development services has been stronger than normal — so much so that the Schenectady company has hired 10 new staff and is looking for more, said Jon Keller, chief growth officer.”
Cuomo: Capital Region cleared for Phase 4 of reopening
“The Capital Region was cleared to start phase four of reopening on Wednesday — but that does not mean gyms, malls and movie theaters will be opening their doors this week.
“The team of global public health experts advising New York State on its reopening strategy has thoroughly reviewed the data for the Capital Region and has cleared it to enter Phase 4 of reopening starting tomorrow, July 1,” Gov. Andrew Cuomo said Tuesday in statement.”
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