August 13 2018

Economic Development Week in Review: August 5 – August 10, 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:


Business Review: More companies interested in expanding, locating in Albany area after Amazon HQ2 competition

Olean Times Herald: Wise Education Choices Will Result In Better Careers, Low Debt


Wages stagnant nationwide but ticking up in Capital Region

“Wage growth – or maybe stagnation – is the subject of vigorous debate at the national level, with President Trump hailing an upward trend while Democrats like Senate Minority Leader Charles E. Schumer counter that the direction actually is downward.

But in the Capital Region, rising wages have been a part of the manufacturing landscape at least since 2012, according to state Labor Department data.”

SUNY Poly prof wins $2 million grant

“oongje Sung, an associate professor of nanoengineering at SUNY Polytechnic Institute, has won a $2,078,000 grant from the U.S. Army Research Laboratory for advancing the manufacture of ultra high-voltage silicon carbide chips.

SUNY Poly runs the New York Power Electronics Manufacturing Consortium, which specializes in silicon carbide chips for power electronics.”

How a national bus driver shortage and new software helped Transfinder land its largest client ever

“Transfinder, the Schenectady software company, has signed its largest customer to date — the Houston Independent School District .

Houston ISD is the largest school district in Texas and the seventh largest district in the United States, enrolling more than 214,000 students in 284 schools over 301 square miles.”

‘Instinct’ star to host opening

“Scottish actor Alan Cumming, whose credits include “Romy and Michele’s High School Reunion,” “Goldeneye,” and the CBS police drama “Instinct,” but who may be best known for playing the teleporting mutant Nightcrawler in the “X-Men” movie franchise, will host Lumberyard Contemporary Performing Arts’ Sept. 1 grand opening at the former Dunn Building and Supply Center along the Catskill Creek on Water Street.

The big event will also feature a performance by Tony Award winning tap dancer Savion Glover, who had a starring role in the Broadway musical “Bring in ‘da Noise, Bring in ‘da Funk” and jazz drummer Marcus Gilmore, who’s followed in his legendary grandfather Roy Haynes’ footsteps.”

As U.S. jobs engine chugs on, Albany is a bright spot upstate

“The Albany metro area has added tens of thousands of jobs since the end of the recession.

Nationwide, employers added 18 million jobs between the end of the recession in 2009 and last year. The growth continues: June was the 93rd straight month in which employers added workers. In the Albany area, employers added 36,000 jobs over the past nine years, an increase of 11 percent since 2009.”

Albany pharmacy college invests in South End space

“The Albany College of Pharmacy and Health Sciences is making another investment in the South End neighborhood of Albany.

Next month, the college will open its new “Collaboratory,” a 3,000-square-foot space on Morton Avenue in Albany to serve the community with pharmacists and social workers.”

Vicarious Visions adding 115 jobs, investing $7.3 million in Albany

“Vicarious Visions, the Albany video game studio that has been working hard on the latest iteration of the “Destiny” franchise, is expanding with a new office and planning to hire more than 100 employees.

The company is investing more than $7.3 million to move and fit up a new 44,000-square-foot office in Colonie, according to a press release from Gov. Andrew Cuomo’s office. As part of this expansion, Vicarious Visions plans to add 115 employees. The release did not say where in Colonie the office will be based.”

This is the latest design for downtown Albany’s Skyway

“Capitalize Albany Corp. presented Thursday the final design for Albany’s Skyway project, which will convert an underused ramp on I-787 into an urban park.

The former ramp would function as a bike route and linear park, connecting the Hudson River to downtown neighborhoods.”

Funding Partners