Economic Development Week in Review: July 23 – July 27, 2018
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CEG IN THE NEWS
Times Union: CEG study finds one in 20 chip inventions happen in Albany area
REGIONAL ECONOMIC DEVELOPMENT NEWS
American Air unit to open Albany maintenance base
“American Airlines Group’s Piedmont Airlines will open a maintenance base at Albany International Airport to service its growing fleet of Embraer 145 regional jets. Piedmont expects to begin hiring to fill more than 50 positions at the base next month.
The Piedmont operation will be the second airline base at the airport dedicated to the 50-seat Embraer 145s. United Express carrier CommutAir already occupies two hangars where it maintains its own Embraer 145 fleet and employs about 100 people.”
Tierra Farm’s CEO is looking to make roasting and selling wholesale nuts into a $30 million business. He’s close
“In a week, Tierra Farm is selling 19,000 pounds of cashews, roasting more than 30,000 pounds of nuts and shipping more than 55,000 pounds of product to its customers.
That production has increased significantly since CEO Todd Kletter took over the role about a year ago.”
Albany jobless rate remains under 4 percent
“he Capital Region’s unemployment rate fell to 3.9 percent in June from 4.3 percent a year earlier, suggesting that the local labor market continues to tighten.
The rate for June hasn’t been that low since 2007, before the Great Recession. The Labor Department also reported that 439,700 local residents had jobs, the highest figure for June since 2008.”
Rensselaer receives $600K in grants from NRC
“Rensselaer Polytechnic Institute will receive $600,000 in grants from the Nuclear Regulatory Commission, the NRC announced this week.
The Rensselaer Nuclear Science and Engineering Research Fellowship Program will receive $400,000 while $200,000 will go toward Nuclear Engineering Excellence Scholarships.”
CDTA eyes transit center in Schenectady
“he Capital District Transportation Authority is interested in building and operating an “intermodal transit center” in downtown Schenectady at the corner of State and Church streets, according to a recently issued request for proposals and a public presentation last week.
The project site would include the current Adirondack Trailways bus station, which would be demolished; an adjacent, county-owned lot; and part of the newly developed Gateway Plaza, which replaced Liberty Park.”
Power plants lead to record month at Port of Albany
“Construction of power plants in downstate New York and western Pennsylvania fueled nearly 20,000 hours of work over the past two months for lift operators and dock hands at the Port of Albany.
Ships from China and Vietnam loaded with generators and steam recovery equipment led to a 48 percent increase in longshoremen work hours in May and June, compared to the same period last year.”
With new building, Darn Good Yarn’s growth spurt continues
“Inside a building near Route 146, surrounded by forklifts and pallets of brightly-colored yarn spread across 12,000 square feet of space, Nicole Snow took in her company’s new home. It was a far cry from the two boxes of yarn she’d started Darn Good Yarn with in her house in 2008.
‘It’s astounding to me,” Snow said “This is huge.’”