June 5 2020

Week in Review: June 1 – 5, 2020

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:


Central New York Business Journal: FuzeHub Awardds Grants to Cathbuddy, Alfred University Professor

WNYT: Capital Region Re-Start Program looks to help businesses reopen safely   

Times Union: Amid pandemic, chip industry makes push for $37 billion in federal aid

Troy Record: Albany County enters Phase 2 of reopen  

Post Star: Semiconductor industry seeks federal assistance



Upstate angel investor to startups seeking funding right now: ‘Don’t wait to apply’

“Angel investor Adam Versteegen has a message to startups seeking funding during the pandemic: “Don’t wait to apply. If you think you’re well positioned, apply now.”

Versteegen is one of five general partners of Eastern New York Angels, which provides seed money and mentorship to early stage tech startups in the region. He is co-founder and owner of Invarion, a software company that serves the road construction and maintenance industries.”

Capital Repertory Theatre delays opening of new home

“After more than three years of planning for a move to the very first home of its own, Capital Repertory Theatre had hoped to unveil the new venue in July with a production of the joyful musical “Sister Act.”

Now, because of the economic shutdown related to the coronavirus pandemic, construction delays have pushed the completion of the theater until at least September, and uncertainty about the resumption of arts performances before live audiences means “Sister Act” won’t be seen until an undetermined future date, The Rep announced Monday.”

Cuomo: Capital Region on track for Phase 2 COVID-19 reopening Wednesday

“The Capital Region is on track to move to Phase 2 of the COVID-19 reopening process Wednesday, Gov. Andrew Cuomo announced in his press conference Monday.

Data is still being analyzed by experts for both the Capital Region and Western New York to finalize the move to Phase 2, Cuomo said.”

SUNY Poly prof gets $625,000 DOE grant

“SUNY Polytechnic Institute professor Woongje Sung was awarded $625,000 from the U.S. Department of Energy’s Advanced Manufacturing Office for research into how to reduce the costs of making silicon carbide-based power electronics devices.

The research is being done in partnership with the National Renewable Energy Laboratory. SUNY Poly has several silicon-carbide research and manufacturing programs operating on its campus, including the New York Power Electronics Manufacturing Consortium. Silicon carbide switches are used in electric cars, wind turbines, airplanes and other devices.”

Reg Harnish starts new cybersecurity firm  

“eg Harnish is heading a new cybersecurity company designed for small and mid-sized businesses.

OrbitalFire, which launched officially on June 1, already has nearly 40 customers in numerous industries, including health care, manufacturing, financial services and government.”
Capital Region businesses prepare, carefully, for phase two

“With the Capital Region entering phase two of the COVID-19 pandemic reopening scheduled for Wednesday, the first thing people may notice are the physical and logistical changes they face for something as simple as getting a haircut or going to the store.

“We have all these new rules and regulations,” said Joey Federico, operator of The Barber Parlor on Central Avenue just west of the Albany city line.”

Investors charge ahead with warehouse park expansion

“JAG Group president Tim Barber and his business partners are about to subdivide 33 acres near Northway Exit 18, clearing the way for four new warehouses.

Barber and his partners at Native Development Associates are seeking approval from Queensbury planners to split the former Native Textiles knitting mill site into five lots ranging in size from 2.01 acres to 11.32 acres.”

Ecovative spinoff gets $7M investment from big food industry names

“The plant-based meat startup Atlast Food recently closed on a $7 million investment from some big names in the food industry.

One of those names is Gary Hirshberg, who co-founded organic yogurt company Stonyfield Farm and later sold it to Danone. Another is Stephen McDonnell, who founded meat company Applegate Farms and later sold it to Hormel.”

Port of Albany expansion clears a regulatory hurdle in Bethlehem

“Plans to expand the Port of Albany by 80 acres to the south into the town of Bethlehem received a boost last week when the town planning board agreed to accept the State Environmental Quality Review or SEQR survey for the project.

Now the expansion needs to submit a site plan with names of specific tenants.”


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