Economic Development Month in Review: September 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:
$417K in grants awarded to New York colleges, manufacturers
“A non-profit organization has awarded more than $400,000 worth of grants to manufacturers and colleges across New York state.
The $417,165 award from FuzeHub, an Albany-based business development service, is the second round of funding this year from the Jeff Lawrence Innovation Fund, which allocates $1 million annually for five years for purposes “designed to spur technology development and commercialization across New York State,” according to a press release.”
Developers planning $30 million warehouse park off Interstate 87
“The owners of the former Native Textiles knitting mill in Queensbury plan to develop a $30 million warehouse and distribution park on the 33-acre property.
JAG Group president Tim Barber and two business partners spent more than $3 million over the past two years renovating the 117,000-square-foot former knitting mill after leasing space to AngioDynamics and Sheetlabels.com.”
GE making a new medical patch that could help your doctor
“Researchers at General Electric Co. believe they may be tapping into the future of healthcare with a new disposable patch they are developing that might someday provide doctors with the same sort of data they normally collect at a patient’s annual physical.
On Thursday, a team of GE scientists unveiled a prototype of the new device at GE’s Global Research Center in Niskayuna.”
Construction of ‘The Market’ On South Street To Begin In Summer, End In 2021
“Three buildings in Glens Falls will be demolished for the construction of The Market, a 10,000-square-foot, one-story glass-and-brick building to be used for the year-round farmers market and community events.
Scheduled to be razed are the former Juicin’ Jar at 49 South St., the former OTB building at 51-57 South St. and the former Daily Double at 59-63 South St.”
How this Texas-based tech company is finding big growth in New York
“Tyler Technologies Inc. — which develops school bus routing software — has added more than 30 new employees at its Latham offices in the last few years as the company has brought on hundreds of new clients.
Ted Thien, senior vice president and general manager of Tyler’s transportation group, said a big part of that growth has come from introducing a new product that integrates Tyler’s routing technology with tablets for school bus drivers. The tablets were beta tested in the Saratoga Springs City School District.”
Albany Firm Now Shipping Biometric Gun Holsters
“A Capital Region startup focused on firearm safety has begun shipping a one-of-a-kind locking gun holster.
Latham, New York-based Vara Safety expects to ship thousands of locally assembled advanced holster safes that employ strategically placed biometrics to properly secure any handgun, yet allow immediate release.”
Tonko lauds science grants awarded to RPI and SUNY Polytechnic
“Congressman Paul D. Tonko announced the National Science Foundation is awarding Rensselaer Polytechnic Institute and SUNY Polytechnic Institute a group of scientific research grants totaling $7,377,474.
‘These competitive awards reaffirm that our Capital Region continues to be at the forefront of U.S. scientific advancement,’ Tonko said.”
Schenectady County sees tourism activity jump
“Last year was a good year for Capital Region tourism, and Schenectady County led the region with 10.5% tourism spending growth over 2017, according to new state figures.
The county, and city of Schenectady in particular, are building on a foundation of new visitors drawn by attractions like Rivers Casino & Resort and Proctors, along with a countywide craft brewery ale trail and a host of special community events, said Becky Daniels, executive director of Discover Schenectady, the county’s tourism marketing agency.”
GE Research awarded $8.6M federal grant
“Scientists at General Electric Co.’s Global Research Center in Niskayuna have been awarded a four-and-a-half-year, $8.6 million grant through the Defense Advanced Research Projects Agency to create a new computer hardware security system.
DARPA is part of the Defense Department and the GE project would create a “secure gateway” to relay communications between different security systems. The technology could be used by the military, governments and the healthcare system.”
Schumer says GlobalFoundries CEO is ‘optimistic’ about jobs
“U.S. Sen. Charles Schumer says in a meeting Tuesday with GlobalFoundries CEO Tom Caulfield he was told that the computer chip maker is “optimistic” about job growth at the company’s Fab 8 factory in Malta.
Last year, GlobalFoundries laid off more than 400 workers at the plant in a cost-cutting move and strategy shift, but Schumer says Caulfield was bullish on “prospects of adding good-paying jobs to the Malta plant” in the future, especially because there is unused clean room space in Fab 8.”
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