July 20 2018

Economic Development Week in Review: July 16 – July 20, 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:


Semiconductor Engineering: NY design effort

CEG’s Kennedy talks to the Daily Gazette about how CEG MFG training initiatives can help close the income gap

Times Union: Initiative aims to boost minority- and women-owned businesses

Upstate Magazine: CEG honors region’s leaders who improve workforce, market


Redevelopment of 15 warehouse district apartments complete

“our abandoned buildings in Albany’s warehouse district, a slice of the city that has attracted significant investment in recent years, have been turned into 15 one- and two-bedroom apartments.

Developer Patrick Chiou invested $2 million in the properties at 800-806 Broadway, located across from a Sunoco gas station, after acquiring them through a county auction about two years ago. The buildings were gutted, the roof was replaced and new floors, plumbing, heating and electrical systems, sheetrock and windows were added. It took more than a year.”

Soap firm finds a Rad enterprise

“Inside Rad Soap Co.’s 15,000-square-foot space on Wolfert Avenue, surrounded by canisters of essential oils and tanks of ingredients, workers busily stir coffee grounds into buckets of a thick, oozy yellow mixture.

Later they will pour the liquid into molds and slice it before it makes its way to store shelves, the final step in an arduous process that involves a mix of chemistry, physical labor and design. By week’s end the employees will have made about 2,000 bars of soap in addition to creams, scrubs, masks, washes, bath bombs, skin care products, insect repellent and laundry detergent, all handcrafted and made with natural ingredients.”

The Beekman Boys are targeting a larger home shopping audience with HSN

“Beekman 1802 is bringing its goat milk soaps and beauty products to HSN, the 24-hour television network that reaches 90 million homes and is always selling something, from blenders and treadmills to clothing and luggage.

Brent Ridge and Josh Kilmer-Purcell, will make their first HSN on-air appearance on Tuesday, July 31 at midnight EST — the most popular viewing time for the network. They will be selling their Goat Milk Beauty collection, which has beauty products ranging from $28 to $137.”

Film, TV projects look to shoot locally

“A show involving racing the Minne Ha Ha sternwheel steamboat on Lake George could soon be coming to TV.

“We’re trying to put the finishing touches on making that happen,” said Andrew Meader, film commissioner of the new Adirondack Film Commission, at Tuesday’s EDC Warren County board of directors meeting.”

Marvel’s ‘Punisher’ Season 2 is ABC’s mystery ‘Crime’ show filming in Albany this week

“It’s official: A new season of Marvel’s “The Punisher” starring John Bernthal (“The Walking Dead”) began filming in Albany on Monday, and is expected to film scenes around the city through most of the week.

WRGB-TV’s helicopter caught this footage of crews setting up for filming”

Tokyo Electron, SUNY Poly quietly celebrate 15 years together

“Just days after SUNY Polytechnic Institute founder Alain Kaloyeros was convicted in a Manhattan courtroom on charges of wire fraud and conspiracy, officials from the school and one of its most important tenants, Tokyo Electron, quietly celebrated their 15 year anniversary together.

It was back in 2002 that TEL, as it is known in the industry, announced plans to make Albany NanoTech, then part of the University at Albany, the home of its U.S. research and development operations.”

This software bootcamp is expanding to help close the region’s tech skills gap

“Albany Can Code, the nonprofit software boot camp program meant to train nontraditional students in the region, is heading into its third year with new programs, more students and a new CEO.

Annmarie Lanesey, who founded the nonprofit in 2016, has taken on the role of CEO to expand the program. She is balancing that with her job as president of Greane Tree Technology, a custom software development company.”

Rensselaer Polytechnic Institute leads $1.4 million project on robot-assisted manufacturing

“Advanced Robotics for Manufacturing (ARM) has awarded $1.4 million in project funding to Rensselaer Polytechnic Institute as part of its first round of funding to strengthen U.S. manufacturing. ARM selected projects that will generate timely impact on the national manufacturing landscape and serve as examples of ARM’s mission.

The project focuses on advanced robotics manufacturing and will develop an operator-guided, semi-automatic assembly process using industrial robots integrated with multiple sensors. The goal of the project is to improve manufacturing productivity by enhancing the operator’s capabilities through advanced robotics, and appropriately applying the technologies that capitalize on the strengths of the robotics (e.g., precise manipulation) and the operator (e.g., decision-making).”

Richbell Capital buys First Prize Center

“A Saratoga Springs developer has acquired the former Tobin’s First Prize plant, clearing another hurdle in plans to turn the long-derelict property into a mixed-use housing, commercial and entertainment center.

Richbell Capital announced the purchase Thursday, which was financed through Pioneer Bank. The Albany Business Review reported that the plant was purchased for $4 million, according to a deed filed in the Albany County clerk’s office.”

Funding Partners