Economic Development Month in Review: February 2019
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:
A year in, the New York State Mesonet comes into its own for weather tracking
“The New York State Mesonet, based at the University at Albany, consists of more than 126 weather stations that literally blanket the state, with each one located about 20 miles apart, or the width of a typical thunderstorm system. Every five minutes, the stations upload 20 data points including precipitation measurements, wind speed, humidity, even solar radiation as well as photos.
But don’t ask the Mesonet staff for the kind of weather forecast you’d get on TV or in the newspaper.”
GE wins $5.8 million grant for “super-fast” DC circuit breakers
“GE Research in Niskayuna won a $5.8 million research grant from the Department of Energy’s Advanced Research Projects Agency to develop a “super-fast” direct-current circuit breaker that would allow cities to tap into more renewable energy sources.
Renewable energy sources like wind farms are typically located far away from cities, and bringing in the electricity generated from wind farms on traditional large, high-voltage alternating current transmission lines can lead to a lot of energy loss over the miles.”
New IBM center at SUNY Poly expected to create 316 jobs in Albany
“The $300 million artificial intelligence center that New York state is establishing at SUNY Polytechnic Institute in Albany in partnership with IBM is expected to create 326 new computer chip industry jobs over the next five years.
In its deal with the state announced on Feb. 7, IBM has committed to spend $2 billion over the next five years on research and development in Albany and at its main research lab in Yorktown Heights on both the AI center and the Center for Semiconductor Research, a long-standing computer chip research program at SUNY Poly.”
Metal fabricator moving production shop to Rotterdam
“A downstate metal fabricator will move its production shop from New Lebanon to Rotterdam, officials announced this past week.
RISA Management Corp. hopes to gain better access to talent, transportation and new business opportunities with the move, said D. Savi Prashad, the company’s founder, president and CEO.”
Flomatic Corp. completes major expansion in Glens Falls
“Flomatic Corp. Chief Executive Officer Bo Andersson said quality is the reason why his company is successful.
Customers are willing to pay more for his product.”
State ready to seek bids for new Wadsworth lab
“The state is getting ready to seek construction bids to build the new $750 million Wadsworth Center in Albany.
Wadsworth, the state’s public health lab that does everything from rabies testing to research on spinal cord injuries, traces its roots back to 1901 when the state created an antitoxin lab that developed treatments for diseases such as diphtheria and anthrax.”
Capital Region airports to get $3.6M in state funding
“The Albany International Airport will install a $1.4 million photovoltaic solar array with funding from New York state, Gov. Andrew Cuomo announced Wednesday. Another $1 million in state funds will be used for a new aircraft hangar at Schenectady County Airport.
Saratoga County Airport has received $719,000 to build a storage building for snow removal equipment, while Columbia County Airport will spend $510,000 in state funds on a new airport fueling facility.”
Biomedical initiative receives $250K grant
“A regional economic initiative to bring biomedical innovations to market was awarded a $250,000 economic development grant Wednesday by National Grid.
The Biomedical Acceleration and Commercialization Center at Albany Medical College received a grant from National Grid to provide direct financial assistance to BACC biomedical startup companies for commercialization needs and access to experts.”
Mill Artisan District project on track for late-spring completion
“A pinkish-toned cherry wheat beer caught Congressman Paul Tonko’s attention while he sipped different samples of brew Friday afternoon in Frog Alley Brewing’s Schenectady taproom.
Tonko — who favored the wheat beer over other hop-heavy IPA samples — toured the six-story, multi-use facility still under construction at 108 State Street in downtown Schenectady alongside brewery owner and local businessman JT Pollard.”
Espey added 60 employees last year. CEO says hiring spree will continue
“Espey Manufacturing & Electronics Corp. is hunting for project managers, accounting staff, supply chain personnel and production help as the company’s work backlog approaches record levels.
Chief executive Patrick Enright has grown Espey’s workforce by nearly 60 people over the past 12 to 14 months to nearly 180. And he needs to fill another 10 positions this year.”
Just Water investing millions in Glens Falls to add bottling line
“A water company, whose investors include father-and-son actors Will Smith and Jaden Smith, is searching for property to add a second bottling line in upstate New York.
Just Goods Inc., operator of the Just Water brand, wants to lease up to 52,000 square feet at 276 Dix Ave. in Queensbury, according to documents filed with the town planning department.”
Veteran GE researcher leads commercialization effort in Niskayuna
“A veteran researcher at GE Global Research is leading one of the newest initiatives at the River Road campus.
Chief scientist Amy Linsebigler, a General Electric researcher since 1995 and more recently a leader of other scientists, was handed the newly created role of commercial director last spring, when Global Research began taking on contract research for other companies.”
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