May 7 2018

Economic Development Week in Review – April 30 – May 4, 2018

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:


Times Union: New York must invest in chip industry or it will die, new book says

Business Review: Nanotechnology brought more than 9,000 manufacturing jobs to Tech Valley. Why there’s still risk it will fail 

Daily Gazette: Semiconductor conference opens with look at Tech Valley success story

The Record: Success of Capital Region semiconductor industry feted at conference

Saratogian: Success of Capital Region semiconductor industry feted at conference



Former Trustco HQ to become mixed-use site

“The former Trustco headquarters building at 192 Erie Blvd. will be renovated into office space and apartments with a $6.5 million investment by a local developer, the Schenectady County Metroplex Development Authority announced Monday.

The county has owned the seven-story building near State Street since 2005, and will be selling it to Hudson Partners Development of Schenectady for $2 million. The new owners will invest an estimated $4.5 million in renovating the building, said Metroplex Chairman Ray Gillen.”

This Albany tech company is powering FedEx vans with hydrogen

“Plug Power, the Latham, New York, fuel cell manufacturer, is outfitting FedEx trucks with hydrogen engines — one of the first signs that Plug is diversifying beyond its core market.

The zero emission delivery van is built by Workhorse Group, out of Ohio, and charged by a Plug Power ProGen hydrogen engine. The vans are being used by the FedEx facility in Menands, a village four miles north of Albany.”

Semiconductor organization says education key to future

“As it holds its annual technical gathering in Saratoga Springs, an electronics industry trade group is looking not just at new technology but at how to develop the next generation of experts.

David Anderson, president of SEMI Americas, said one of the greatest obstacles to the growth of his industry is shortage of talent and a lack of awareness by the general public about the field and why it is important.”

Albany angel group makes new investment in prosthetics

“Eastern New York Angels is making a second, $100,000 investment in Create Orthotics & Prosthetics, a 3D printing company.

ENYA invests and mentors early-stage technology companies within 75 miles of the Albany, New York area. The group, managed by Joe Richardson and Dick Frederick, invests anywhere from $50,000 to $250,000 per company.”

If they have the skill, Albany Can Code offers a chance at a career

“The idea for Albany Can Code began to crystallize the moment Annmarie Lanesey learned about a local restaurant cook who had taught himself a programing language and was looking to get his foot in the door for a programming career.

The programmer was more successful than some of his colleagues who had taken a more traditional educational path, and it helped Lanesey realize there are likely many people with the aptitude for coding jobs but who lack the resources to learn.”

How the Bala brothers put Albany on the video game map

“The video gaming industry is worth an estimated $100 billion worldwide.

Rensselaer Polytechnic Institute in Troy offers a bachelor’s degree in games and simulation arts and sciences.”

Need for skilled laborers outlined at Spa City industry tour

“A conversation centered on tradespeople Wednesday afternoon as BOCES counselors from across New York state gathered at the fourth floor on 18 Division St.

Local developer Sonny Bonacio spoke about the need for skilled labor to nearly 20 Career and Technical Education counselors as part of an annual industry tour at Bonacio Construction, encouraging counselors about the financial opportunities available before touring construction sites in the city.”

Startup using weather data to improve drone flight

A weather startup is creating jobs in upstate New York, and partnering with University at Albany to get better forecasts for drone operators.

TruWeather Solutions LLC, uses technology to cut costs for weather-sensitive businesses, such as drone, trucking and other logistics companies, as well as government agencies.”

GE Global Research to lead Navy laser-printing project

General Electric researchers will lead an effort to develop ways to replace aging U.S. Navy ship and plane components with new ones fabricated by laser printers under a $9 million contract GE announced this week.

Much of GE’s work on the project will be done at the Niskayuna headquarters of GE Global Research, which already has laboratories working on the rapidly growing field of additive technology. “



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