Economic Development Week in Review: September 10- September 14, 2018
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CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
Fast-growing Albany tech company sees growth in retail, travel industries
“4Cite Marketing is getting larger clients and looking to get into new industries after one of the biggest growth years for the downtown Albany company.
4Cite collects customer data for more than 320 retail customers. The company recently added several large unnamed customers, including a large electric vehicle manufacturer and a home goods big box store. Other clients include J. Jill, Yankee Candle, Pac Sun and Woolrich.”
Artisans incubator to open in downtown Schenectady
“The downtown retail scene will take an innovative turn this autumn as an incubator space opens for artisans taking their first or second steps into commerce.
Clinton Street Mercantile will occupy 4,500 feet of ground-floor space at 148 Clinton St., a circa-1913 building that most recently was an accountant’s office but once held a bowling alley, a dance school, and a temporary city hall while the permanent structure was being constructed in 1931.”
Apartments, retail space planned on upper State Street
“An old auto showroom on State Street is getting another shot at life.
The building at 1016 State St., with its distinctive brick facade and large windows, has been many things over the years, including a furniture store and auto repair garage, but it has been idle and vacant for a while now.”
Plug Power, RPI get $2 million to develop robots
“Fuel cell maker Plug Power and Rensselaer Polytechnic Institute are working together on a $2 million grant to create robots that will refuel hydrogen fuel cells on their own.
The grant is part of a larger collaboration between RPI and Plug Power to develop autonomous fueling technologies that can be used with Plug Power’s fuel cells used in warehouse fork lift trucks – and also in on-road vehicles in the future.”
Regeneron plans to add 1,500 in East Greenbush
“The Cuomo administration is offering drug maker Regeneron $140 million in incentives to expand its Rensselaer County operations over the next seven years, an effort that would include 1,500 new jobs at an $800 million investment by the Tarrytown-based pharmaceutical company.
“New York is proud to be at the forefront of the life sciences industry and the home of global biotech leaders like Regeneron,” Governor Andrew Cuomo said in a statement about the agreement. “The continued growth of Regeneron here in New York is yet another indication that we are leading the way in the life sciences and attracting the jobs of tomorrow. Regeneron’s expansion will further drive economic growth in the Capital Region and fuel lifesaving innovation and development that benefits the entire world.”
Schenectady electric vehicle firm seeks $5 million
“Zeem Solutions, a Schenectady electric vehicle consulting firm, is seeking to raise $5 million.
In a filing with the Securities and Exchange Commission, Zeem, which moved over the summer into offices on Erie Boulevard, reported that it had raised $293,250 of that goal.”