Week in Review: February 28 – March 4, 2022
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:
CEGIN THE NEWS
WNYT News 13: Research and development spending up at Capital Region colleges
REGIONAL ECONOMIC DEVELOPMENT NEWS
Saratoga Battlefield Launches $6+ Million Rehabilitation Project
“On March 1, Saratoga National Historical Park will begin a $6-plus million, multi-year project to rehabilitate the interpretive battlefield experience. This important work is being funded through the Great American Outdoors Act.
The project focuses on improving accessibility and interpretation of the Saratoga Battlefield. The work includes rehabilitating the parking areas and pathways at all tour stops to address deferred maintenance, improve accessibility, and replace aging waysides exhibits to enhance the interpretation experience of the battlefield.”
New Yorkers don’t quit their jobs
“As workers continue to leave their jobs en masse, the phenomenon known as the “Great Resignation” seems to be far from over. According to data from the Bureau of Labor Statistics, quits totaled 4.5 million in November, a record high, and have been trending upward since April 2020. The quit rate—defined as the number of quits as a percentage of total employment—rose to 3.0 percent in November, tying September’s record.
…The analysis found that the overall quit rate in New York State reached 1.8 percent in 2021. Overall, New York State saw 1,581,000 quits last year. Out of all U.S. states, New York reported the lowest quit rate in 2021. Here is a summary of the data for New York State:”
Albany Inno – Canned cocktail startup partners with DeCrescente to expand into upstate NY
“A canned wine cocktail startup based in Troy is preparing to bring its product to upstate New York, with big plans for expansion ahead.
Champé Handcrafted Berkshire Bubbly is partnering with DeCrescente Distributing Co. to enter the local market with its first product: a bellini made with sparkling wine and peach juice, which has sold more than 14,100 cans so far.”
Marge Randles’ journey from tax specialist to cheese maker
“Fifty years ago, Marge Randles was interviewing for a job at Agway, an agricultural retail company serving the Northeast. She was about to graduate from Cornell University with an economics degree and had a great head for numbers. ‘I was told that they didn’t have a place in management for a woman,’ she said. ‘Ten years later and they would have had a lawsuit on their hands.’
But at that point, Randles decided that ather than use up energy being mad she simply figured, ‘It’s your loss and not mine.’”
Vision for federal chip lab laid out by IBM, Albany Nanotech
“A group of semiconductor scientists and academics from New York state and across the United States have published a new report laying out their vision for a new federal computer chip manufacturing center being proposed in Albany as a counterweight to China’s growing influence in the vital industry.
The lab, known as the National Semiconductor Technology Center, would be paid for through a funding bill making its way through Congress that would provide $52 billion to grow the domestic chip manufacturing sector and fund cutting-edge research.”
Albany Inno – Semiconductor startup considering Albany for new $150M fab facility
“A startup that’s developing a next-generation electronics component is considering Albany to build a $150 million fabrication facility that would create at least 160 jobs.
Menlo Micro is considering Albany as well as several other locations in New York state and around the country for the project.”
Fuel cell maker, hydrogen producer Plug Power doubles workforce in race to grab market share
“Plug Power nearly doubled its workforce to 2,449 employees last year as the Latham company races to build factories and hydrogen generation plants around the world.
The fuel cell and hydrogen electrolyzer manufacturer increased its headcount by 585 during the first year of the Covid-19 pandemic, adding another 1,164 employees by the end of last year. And the company does not expect to slow down any time soon.”