Economic Development Week in Review: April 15-19, 2019
Stay up-to-date on business and economic development happenings in the Capital Region with the CEG Economic Development Week in Review. Don’t miss out on the developments that are transforming the region by following us on:
CEG IN THE NEWS
Times Union: Organizations team up to develop region’s creative economy
Saratogian: Center for Economic Growth launches Veteran Connect Center
Daily Gazette: Center for Economic Growth, Alliance for the Creative Economy merge
ABC News 10: Girls in STEM Workshop
The Record: Center for Economic Growth, Upstate Alliance for the Creative Economy announce merger
Albany Business Review: ‘Could we be Austin?’ Why this group invited an Austin tourism executive to Troy
Times Union: Seen: Center for Economic Growth’s Veteran Connect Center launch
Register Star: Center for Economic Growth and Upstate Alliance for the Creative Economy announce merger
REGIONAL ECONOMIC DEVELOPMENT NEWS
National Business Technologies buys building in Albany with eye toward doubling its workforce
“National Business Technologies paid $1.8 million for a building in Albany that will serve as the headquarters for the growing company, a supplier of office equipment, print and IT services.
The company bought a 31,000-square-foot office/warehouse at 15 Corporate Circle off New Karner Road.”
The number of farms in New York continues to shrink – except in some places locally
“he number of farms and the amount of farmland has continued to shrink across New York state this decade, a new federal report shows.
Three Capital Region counties went against the long running trend: Saratoga, Schenectady and Schoharie counties all saw increases in number of farms, while Schoharie County also saw an increase in number of farmed acres.”
Why the owner of Hoffman Car Wash invested in his own manufacturing facility
“Tom Hoffman Jr. has started a new manufacturing division focused on automating his car washes.
The owner of the Hoffman Car Wash chain has invested roughly $800,000 to start making parts for automated car washes in-house, under the name InnovateIT. The division is also selling the parts to other car washes across the country.”
JUST Water Looking To Expand, Eyes Leasing Property On Dix Avenue In Glens Falls
“JUST Goods Inc. is proceeding with plans to lease additional production and warehouse space to keep up with demand for its original product, JUST Water, packaged and bottled in downtown Glens Falls since the brand’s inception in 2012.
According to corporate spokesperson Kara Rubin, vice president of brand and product strategy, We need to be able to accommodate a growth trajectory based on current experience and the present facility doesn’t allow that flexibility.’”
Pancreatic cancer-fighting tool being made by just two people
“A device that could double the life expectancy of people with stage 3 pancreatic cancer is being built by just two employees at AngioDynamics.
They’re working in a corner of a large manufacturing clean room where other oncology devices are also built. Everyone must suit up in a jacket, shoe covers, hairnets and gloves to work there. In the NanoKnife corner, there’s plenty of empty counter space for more technicians.”
Local game developer to launch new virtual reality video game
“ave you ever wondered what it would be like to climb up the face of a fortress while dodging robots and launching fireballs?
Now, you might be able to do just that.
The Schenectady-based Catapult Games, co-founded by Dane Jennings and Chris Caulfield, will be launching Don’t Look Down, the game development company’s first game on Steam, the online gaming marketplace.”
Manufacturing plays outsize role in Saratoga County economy
” The Saratoga County Prosperity Partnership released its new “manufacturing index” on Wednesday that shows the importance that manufacturing plays in the local economy, representing 21 percent of the county’s gross domestic product.
That number, which is nearly double the Capital Region as a whole, isn’t by accident. Back in 2007, manufacturing represented just 16 percent of the county’s GDP, which is the measure of products and services that a community creates.”
State board approves $425 million toward IBM, Applied Materials projects at SUNY Poly
“A state board on Wednesday approved $425 million in grants toward projects at the SUNY Polytechnic Institute campus in Albany.
The Public Authorities Control Board voted to approve $300 million in state grants for the IBM AI Hardware Center and $125 million for a partnership with Applied Materials.”
SUNY Poly affiliate keeps bolstering finances
“SUNY Polytechnic Institute’s non-profit development arm — Fuller Road Management Corp. —appears to be turning the corner financially two and a half years after a bid-rigging scandal cast a cloud over the hi-tech school.
Earlier this month, the Fuller Road Management board of directors revealed that the entity, which owns most of the buildings at SUNY Poly’s Albany campus, had a $3.7 million surplus in the current fiscal year, much larger than the expected surplus of $313,359.”
Strong job growth continues in Capital Region
“The Capital Region added 7,100 private-sector jobs over the past year through March, the state Labor Department reported Thursday, even as public sector employment fell by 500 positions.
While much of the growth came in relatively low-paying positions — leisure and hospitality added 3,600 jobs — employment growth also was strong in some higher-paying fields. Professional, scientific and technical services, which includes the region’s technology companies, added 800 jobs, while construction was up 700 jobs.”