January 28 2022

Week in Review: January 24 – 28, 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:



Schumer shows off Albany Nanotech to U.S. Commerce administrator

“When U.S. Senate Majority Leader Charles Schumer wrote the legislation for the U.S. Innovation And Competition Act, a $250 billion bill designed to basically best China in high-tech development, he set aside a couple billion dollars for a new federal lab that would focus on next generation computer chip manufacturing.

The stakes are high – almost every state in the union would want the federal government to give them $2 billion to establish a national semiconductor research center in their backyard.”

Albany Nanotech envisions new building for federal chip lab

“Leaders at Albany Nanotech have started planning for a potential new building that would be built at its campus on Fuller Road should the state be awarded a $2 billion federal computer chip manufacturing center being pushed by U.S. Senate Majority Leader Chuck Schumer.

Schumer, a New York Democrat who wields strong political power, included funds for the new research center in a landmark piece of high-tech funding legislation he wrote known as the U.S. Innovation and Competition Act, or USICA that is designed to help the U.S. catch up to China on tech innovation.”

Michelle Lewis on her vision for the Stack Family Center for Biopharmaceutical Education and Training

“Michelle Lewis has never lived anywhere with single-digit temperatures, but she’s slowly getting used to it as she walks her dog each morning in the snow.

Lewis and her family moved from Georgia so she could begin her role on Jan. 3 as the new executive director for the Stack Family Center for Biopharmaceutical Education and Training at the Albany College of Pharmacy and Health Sciences. The center is at the Albany NanoTech Complex.”

Glenn Fiedler moved to Troy from LA to build Network Next

“Glenn Fiedler played some of the very first video games on an Acorn PC and Atari 2600 in the 1980s while his family was living on an air base in Papua New Guinea. From then, he knew he wanted to make games and taught himself to program at a young age.

That path brought him from his home country of Australia to jobs at several studios in Los Angeles for 15 years. With encouragement from the Bala brothers – founders of Velan Studios – Fiedler and his family moved to Troy two years ago and settled in a farmhouse in East Schodack.”

‘Pretty Little Liars’ reboot to shoot at Armory Studios in Schenectady

“Segments of the latest installment in the “Pretty Little Liars” franchise will be shot in Schenectady.

Film Schenectady said Thursday that the production crew will be in the city in February and early March, using the former Schenectady Armory as a soundstage and shooting exterior scenes.”

Troy software startup raises $28M from private equity firm

“Inspect Point, a local startup, has secured $28 million from a private equity firm to further expand the reach of its software for the fire inspection industry.

The company received the investment from Mainsail Partners, a growth equity firm providing private capital funds to bootstrapped software businesses.”

Funding Partners