July 9 2021

Week in Review: July 5 – July 9, 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:


Albany Business Review: UAlbany starts video game design program as esports continue to grow


SUNY Poly spinoff sxRNA Technologies wants to change the future treatment of Alzheimer’s and other diseases

“Researchers from SUNY Poly are working to commercialize technology that could lead to a prevention of Alzheimer’s and other diseases.

The SUNY Poly spinoff company, sxRNA Technologies Inc., is developing a molecular tool that enables researchers to identify cells in the body that could be involved in the processes that lead to Alzheimer’s disease.”

Albany Nanotech retiring leader Doug Grose sees limitless potential

“Doug Grose left his job overseeing the day-to-day operations at Albany Nanotech last week, but his influence won’t fade away.

Grose, who since 2018 has served as president of NY CREATES, the quasi-government non-profit that oversees Albany Nanotech’s real estate, research and economic development programs, retired on June 30.”

Artisanal Brew Works Continues To Expand; Destination Restaurant/Brewery Is The Goal

“Kurt Borchardt is hoping to make his craft brewery, which he is moving to a new location, more than just a place to have a beer.

His vision includes beer, food and maybe even a hike. Borchardt said he wants the new Artisanal Brew Works to be more of a destination spot.”

Precision Valve & Automation moving bourbon and wine barrel factory to Schenectady County, creating tourist destination

“The Riverside Maple Farms syrup production and retail center in Glenville, which closed abruptly 18 months ago, is on the verge of a second act as a barrel factory with a tasting room, distillery and a vision for transforming the Route 5 corridor into a tourist destination.

Tony Hynes, owner of robotics manufacturing company Precision Valve and Automation in Colonie, is under contract to purchase the 30-plus acre property and 3,600-square-foot maple production center that shut down less than two years after it opened. Riverside Maple Farms is located at 7152 Amsterdam Road on the western edge of Glenville.”

Capital Region Economic Development Council takes industry cluster-focused approach

“The Capital Region’s Economic Development Council is shifting its strategy as it looks to help build back the economy post-Covid and compete in Gov. Andrew Cuomo’s annual $750 million state money competition.

In previous years, the Capital Region’s plans for the Regional Economic Development Council competition were driven by proposed transformational projects — the Mohawk Harbor development in Schenectady, the Park South project adjacent to Albany Medical Center and the advanced manufacturing training center at Hudson Valley Community College in Troy.”

Two warehouse projects in front of Colonie Planning Board

“Two warehouse projects working their way through the process were discussed at the last meeting of the Planning Board.

One would construct three, one-story buildings totaling 54,00 square feet on a vacant, 10-acre, parcel of land in a Commercial Office Residential zone at the intersection of Lear Jet Lane and Wade Road.”

Rensselaer Polytechnic Institute starts fintech research consortium

“Rensselaer Polytechnic Institute is part of a collaboration that’s getting $2.5 million in investment from industry partners and the government to study how financial firms can better integrate technology.

Rensselaer and Stevens Institute of Technology in New Jersey said Thursday that they are opening the Center for Research toward Advancing Financial Technologies — CRAFT — to help guide the industry as it moves further into the world of high-tech and big data, a sector nicknamed fintech.”

Funding Partners