June 1 2018

Economic Development Week in Review: May 28 – June 1, 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: CEG and MACNY partnership expand talent pipeline in Forbes’ 7th most thriving manufacturing metro


GE scientist hopes 50th patent is US’s 10 millionth

“John Nelson figures his odds of winning U.S. patent No. 10,000,000 are no worse than 1 in 3,200.

The molecular biologist working at General Electric’s Global Research Center in Niskayuna has calculated that the milestone patent will be issued on June 19. And he got GE to time the submission for two GE patents in such a way that they should be in the June 19 batch.”

SABIC plans expansion in Bethlehem

“SABIC is planning an expansion at its plastics factory on Route 32 in Selkirk. Rob Leslie, director of economic development and planning for the town, said that Saudi-based SABIC is planning to add 10,000 square feet of office space and renovate lab space in its technology development building while adding a storage warehouse. In February, SABIC announced plans to increase capacity at the Selkirk plant of its Ultem and Noryl resins. The plant employs 530 people.”

Monolith Solar begins construction of new HQ in Slingerlands

“The $4.9 million project, which is getting financial assistance from the town of Bethlehem’s Industrial Development Agency, will be the first by a high-tech tenant that town planners had envisioned attracting when they allowed for the zoning of the business and retail park years ago.

Monolith had for years been having trouble getting construction financing for the project that would allow it to move forward.”

New York will spend millions on advanced manufacturing, health care workforce programs

“New York will invest $3 million this year for businesses to partner on apprenticeships with the State University of New York system and the state Department of Labor.

The money will go toward creating up to 2,000 training positions in advanced manufacturing and health care in the next four to six years, the governor’s office announced Tuesday.”

Capital Region council will again compete for $750 million in state funds

“The Albany area’s economic development council is beginning this year’s process of competing for a portion of $750 million in state money to use on economic development projects.

The Capital Region council met Thursday to prepare for the eighth round of Gov. Andrew Cuomo’s state money competition. It was the first meeting with the council’s new co-chairs, Ruth Mahoney, market president of KeyBank, and Havídan Rodriguez, president of the University at Albany.”

Albany biotech firm gets $100,000 in funding

“Glauconix Biosciences, a biotech firm based at SUNY Polytechnic Institute that was started by a SUNY Poly graduate student, has raised $100,000 for its glaucoma drug development technology.

Excell Partners of Rochester is investing the money into Glauconix, which previously had obtained an investment from Eastern New York Angels, the Albany-based investment fund.”

Greyhound says it’s hoping for a new Albany station

“The Greyhound bus station in downtown Albany has seen just “limited improvements” as it waits to be replaced. But how quickly that might happen isn’t clear.

“Based on discussions over the last several years about the possibility of relocating, there have been limited improvements made to the facility,” said Greyhound spokeswoman Lanesha Gipson. ‘We remain hopeful and open to relocating to a new and modern intermodal (station) in the near future.’”


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