Economic Development Month in Review: March 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:
China? California? No, startup Create O&P found the best fit in Colonie
“Create Orthotics & Prosthetics is set to introduce its first 3D-printing machine since moving production to New York state.
The 7-year-old startup builds 3D printers with a goal of making it faster, cheaper and easier for clinicians to design prosthetic arms, legs and fingers. The new third-generation machine was manufactured by Precision Valve & Automation in Colonie.”
Offshore wind could bring jobs to Port of Coeymans
“Vineyard Wind will assemble and ship turbines out of the Port of Coeymans — if the company wins a New York state contract to develop an offshore wind project along the Atlantic coast.
Vineyard has an option to lease an unspecified amount of property at the Hudson River port, according to plans filed with the New York State Energy Research Development Authority.”
Software company Kitware unveils new headquarters in Clifton Park
“On the day of its 21st anniversary, officials at a local software company welcomed visitors into its sleek, new headquarters on Route 9 in Clifton Park.
Founded in 1998, Kitware is a consulting, research and development company that specializes in open-source software with clients in a diverse array of industries. Its business model is heavily skewed toward service and expertise, rather than products.”
Just Water seeks relocation into Queensbury
“Just Water is overflowing.
The company needs more space for expansion than is available at its current home in the former St. Alphonsus Church on Broad Street. Just Goods is looking at leasing a portion of a 52,000-square-foot building (about the size of a football field) at 276 Dix Ave. in Queensbury.”
Ceremony marks opening of new Beekman 1802 headquarters
“A ribbon-cutting ceremony at 11 a.m. Thursday will mark the grand opening of the new headquarters of Beekman 1802, a line of goat milk products founded by the Beekman Boys, Josh Kilmer-Purcell and Brent Ridge.
The new headquarters is located at 200 Harborside Drive, 4th floor, in the Mohawk Harbor development off Erie Boulevard.”
Capital Region’s video game development cluster continues to grow
“The video game industry has strong prospects for continued growth in the Capital Region, the regional economic development agency reported Monday.
The Center for Economic Growth said 21 development studios with a total of 418 employees responded to its 2019 survey. The five large studios among them accounted for the bulk of the workforce: 340 employees, a 5.6 percent increase from the 2018 survey.”
Why Core Tech is investing $2 million in Saratoga County
“George Hubschmitt plans to hire 20 electricians, pipefitters and foremen after his company builds a 30,000-square-foot expansion in Ballston.
The founder of Core Tech Industrial Corp. wants to bring assembly and testing jobs in-house after contracting out that work for the past 19 years.”
Glauconix Biosciences Completes Pilot Study Using Nemus Biosciences’ Bioengineered Cannabinoid-Based Compound for Glaucoma Treatment
“Glauconix Biosciences Inc., a specialty pharmaceutical company that uses its patented platform technology to develop human 3D ocular tissues that mimic the fluid dynamics in the eye to expedite and de-risk the R&D of ophthalmic treatments while reducing development costs, announced today that the data generated for Nemus Biosciences Inc. (OTCQB: NMUS) validates the mechanism of action of NB1111, Nemus’ proprietary prodrug of tetrahydrocannabinol (THC-valine-hemisuccinate, or THCVHS), in lowering intraocular pressure (IOP), a defining symptom of hypertensive glaucoma. Glauconix is located at the SUNY Polytechnic Institute’s Albany, New York, campus and is a partner in the institution’s Center for Advanced Technology in Nanomaterials and Nanoelectronics (CATN2).”
Troy video game developer Velan Studios signs publishing deal with Electronic Arts
“The Troy-based independent game developer Velan Studios has teamed up with one of the giants of the video game industry.
Velan announced Tuesday that Electronic Arts Inc. will be the publisher for its first original game for consoles, PCs, and mobile.”
Plug Power introduces new hydrogen fuel cell engine that is more powerful and lasts longer
“Plug Power is introducing a new hydrogen fuel cell engine that will help the company expand into the on-road delivery market.
Plug Power announced the new 30-kilowatt engines on Thursday. The company said the engines can last longer, are more reliable in harsh environments, have fast fueling and produce zero emissions. The engines have applications in delivery vans as well as light- and medium-duty cargo box trucks.”
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