Economic Development Month in Review: May 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:
“The Covid-19 crisis has not slowed growth plans for the health care tech startup Levrx.
The company plans to grow its staff from about 30 people to about 60-80 people in the next year, according to co-founder and executive chairman Vikash Agrawal. Levrx is also currently expanding its headquarters in downtown Troy.”
“Albany Can Code is moving its digital literacy classes online and expanding access in upstate New York.
The workforce development effort is forming partnerships in the Capital Region and Hudson Valley in order to offer its classes through county career centers.”
“Regeneron Pharmaceuticals will start human testing of an antibody cocktail in June that the company sees as a path to potentially treat or prevent Covid-19.
“We are working in parallel to have large-scale quantities available by late summer,” Regeneron president and chief executive Len Schleifer announced Tuesday.”
“BelGioioso Cheese has completed its new $25 million, 100,000 square-foot cheese manufacturing plant in Glenville.
The plant’s completion was announced this week by LeChase Construction Services, the project’s construction manager.”
“Ken Halvorsen, a senior research scientist at the University at Albaany’s RNA Institute, has won an undisclosed amount of federal funding from the National Science Foundation to develop a rapid coronavirus test.
Halvorsen will be working at the Wong Lab at the Wyss Institute at Harvard University and at the state’s Wadsworth Center on the project, which will develop an RNA-based test for the coronavirus that causes COVID-19. The project is expected to take two to three months instead of what would normally take one or two years.”
“A senior research scientist at the RNA Institute at the University at Albany just landed a federal grant through the National Science Foundation to make a coronavirus test that targets RNA to detect the deadly virus.
But the scientist, Ken Halvorsen, isn’t the only scientist at the RNA Institute to be working on coronavirus research.”
“Huttopia, a family-owned, French tourism company, plans to open its third campground in the United States after winning approval to develop 111 sites in New York’s Adirondack Mountains.
Huttopia Adirondack Properties LLC was granted a permit from the Adirondack Park Agency to develop a portion of the 275-acre property it acquired in January 2019 for $680,000. The permit was filed in Warren County on April 21.”
“Businesses in the Capital Region can begin opening Wednesday now that the region has met the last metric for phase one of reopening, Gov. Andrew Cuomo said on Tuesday.
What does reopening mean exactly for the Capital Region?”
“The Port of Albany awarded $6.5 million in contracts Wednesday for the construction of a 60,000-square-foot warehouse to handle surging demand for woodpulp and other materials.
MLB Construction Services was selected as the general contractor for the project. The port awarded MLB a $5.43 million contract after the Malta firm submitted the low bid out of four proposals.”
“The $56 million new headquarters for financial services firm Ayco in Latham will be among the largest projects that will resume in the Capital Region when “nonessential” construction is allowed under the state’s phased reopening plan.
Interior work was halted in mid-March on the 150,000-square-foot building developed by The Galesi Group off Columbia Street Extension near Route 9.”
“It came in a tweet.
On Thursday evening, President Donald Trump announced that the federal government was providing $60.9 million to build the Purple Line bus rapid transit route from downtown Albany, along the Washington and Western avenue corridor, to the University at Albany, SUNY Polytechnic Institute and Crossgates Mall. It’s the third of three bus rapid transit routes planned by CDTA.”
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