February 12 2021

Week in Review: February 8 – February 12, 2021

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: Venture B session to hear presentation of semiconductor planarization


Albany’s MTI acquiring site for large crypto mining operation

“Mechanical Technology, the Albany company best known for making test and measurement equipment for the semiconductor and aerospace industries, is planning to build a large data center as part of its entry into the crypto currency mining market.

The company, which has 32 employees, informed investors last month that its new EcoChain subsidiary has selected a site for the data center “in the southeast United States,” although it did not reveal the exact location.”

GlobalFoundries in Saratoga County paid $26 million to subcontractors for capacity expansion in 2020

“GlobalFoundries spent nearly $26.2 million hiring subcontractors for manufacturing capacity upgrades last year, bringing a monthly average of 100 technicians and tradespeople to the Malta complex.

The computer chip maker hired a total of 17 subcontractors in 2020 among engineering firms, industrial gas suppliers, electrical contractors and mechanical companies.”

Nick Campana and Jake Szwarcberg are releasing Ventur, a real estate app that connects agents and customers directly

“Two college students from Clifton Park are soon launching a social media app for the residential real estate industry.

Jake Szwarcberg, a student at Rensselaer Polytechnic Institute, and Nick Campana, a student at Sacred Heart University in Connecticut, created the platform — called Ventur — as a way to help agents succeed in an industry that depends on strong brand recognition.”

What will Albany’s airport look like in 2030?

“The last master plan was a whopper.

Albany County Airport, thanks in part to a $220 million building project in the late 1990s, became Albany International Airport. Jet bridges replaced the rain-or-shine stroll across the tarmac, multi-level parking garages connected to the terminal supplementing the open-air parking, gift shops and food vendors proliferated, and the airport finally got a Northway exit to call its own.”

DeCrescente Distributing Co. expands with acquisition of property in Stillwater

“DeCrescente Distributing Co. has acquired 2.5 acres of the former W.W. Patenaude & Sons property in Stillwater, positioning the beer, wine and seltzer supplier to construct another warehouse.

The fourth-generation Coors, Heineken and White Claw distributor spent four years searching for a way to purchase, clean up and redevelop the abandoned industrial paint and coatings site next door to DeCrescente’s 300,000-square-foot headquarters and distribution complex.”

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