August 24 2018

Economic Development Week in Review: August 20- August 24, 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: Plug Power will create 97 jobs at new Clifton Park facility

Site Selection magazine highlights CEG-commissioned study on NY’s Regional Nano Cluster


Manufacturing adding jobs in Albany metro area

“Manufacturers in the Albany-Schenectady-Troy metro area are adding jobs after a few months without much growth, says state Department of Labor market analyst Kevin Alexander.

The industry added 500 jobs in July compared with July 2017, an increase of 1.9 percent.”

How this 109-year-old family business is evolving to food industry’s changing demands

“When Suzanne Rajczi joined Ginsberg’s Foods 34 years ago, it was a $7 million business.

Today, it’s $167 million business with close to 280 employees. Many of those employees have been working at Ginsberg’s for as long as Rajczi.”

Tech firm expanding in downtown Albany

“[s]Cube, a downtown Schenectady  software company offering e-licensing and permitting solutions, said it will relocate from NYBizLab space on State Street to a larger space at 40 Beaver St. in downtown Albany.

The firm said it recently won major contractors from the states of Alabama and Florida and the move ‘supports the company’s growth strategy.’”

This entrepreneur moved his software company from Connecticut to downtown Troy

“DeFacto Global, a Troy tech company focused on providing financial forecasting software to Fortune 500 companies, is expanding in downtown Troy.

The growth comes as DeFacto Global is building out its core product to have more machine learning and artificial intelligence, and is partnering with Rensselaer Polytechnic Institute in the process. It’s a trend that CEO and owner Bob Bedard said will set DeFacto Global apart from its competition, which includes massive companies like Oracle and IBM.”

FuzeHub awards $100K in Capital Region grants

“FuzeHub, a state-supported nonprofit that provides expertise and grants to help New York companies improve their productivity and competitiveness, announced grants to Rensselaer Polytechnic Institute, Tire Conversion Technologies and Tidy Tots totaling nearly $100,000.

Tire Conversion Technologies makes products from recycled tires. Tidy Tots contracts with Schenectady ARC, which employs individuals with developmental disabilities to produce its one-size, reusable diapers.”

Funding Partners