Week in Review: June 8 – 12, 2020
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CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Even before Friday’s strong jobs report, there were signs that the economy was beginning to recover.
On Thursday, the state Labor Department reported the number of initial claims for unemployment in the Capital Region had tumbled in the week ending May 30 by anywhere from 59 percent (Schenectady and Schoharie counties) to 64 percent (Rensselaer County). Albany and Saratoga counties were in between, dropping by 62 percent and 61 percent, respectively.”
“Dimension Fabricators won its second patent late last month, and while it’s closely related to the first patent, the two things couldn’t be much less alike.
The first was Cage-Rite, a clever but simple notched ring that holds steel rods in place for the assembly of cages that will reinforce concrete. The second is a 50,000-pound machine that spins the cage around and lifts the rods up for placement, cutting production time by 75% or more.”
“Curtis Lumber is expanding its presence in Rensselaer County with the construction of a 25,550-square-foot store on Columbia Turnpike in Schodack.
The fifth-generation lumber and lighting supplier started construction this week on a 12-acre site where Curtis has operated a smaller store since 1971.”
“A SUNY Polytechnic Institute (SUNY Poly) professor is partnering with a Connecticut-based research partner, Ciencia, Inc., to explore a way to diagnose Lyme Disease more efficiently.
Using technology developed by Ciencia, Inc., a biomedical research and clinical diagnostics corporation, Empire Innovation Professor of Nanobioscience Dr. Nate Cady and his team were able to diagnose Lyme Disease in under an hour with their test by using droplets of blood.”
“One of the developers that helped transform Exit 18 of the Northway has purchased an additional 35,000 square feet of warehouse space and 300 self-storage units near the fast-growing interchange.
Jerry Nudi, former owner of Warren Electric Supply, acquired 7.91 acres at 90 and 94 Big Boom Road in Queensbury Wednesday for $2.7 million. The transaction was financed by Adirondack Trust Co.”
“Daphney-Stavroula Zois, an assistant professor in electrical and computer engineering at the University at Albany, has won a five-year, $524,480 grant from the National Science Foundation to study the interaction of physical cyber systems like robotic lawn mowers to body sensors with humans.”
“Saratoga County has shown a rise in positive COVID-19 cases. This comes as businesses and schools continue to adjust in new reopen phases.
According to Cathy Medick, director of patient services for Saratoga County Public Health, as of Wednesday morning, Saratoga has had 511 confirmed positive cases of COVID-19, with 37 of them being active and 458 recovered. Additionally, four people are hospitalized and in stable condition. The county had one reported death this week, bringing its death toll to 17 total.”
“The Washington County Fair is starting a new Fantastic Food Truck Corral event series.
Events will be held from 4 to 8 p.m. on Fridays in June – beginning Friday, June 12 – at the Washington County Fairgrounds.
“A popular water park that has brought summer fun to the community and employed local youth for generations will not open this summer due to the coronavirus.
Zoom Flume announced its decision Monday.”
“More outdoor recreation can begin immediately, including hotel pools, but Gov. Andrew Cuomo said the state is still working on guidance regarding other pools.
Whitewater rafting, treetop adventure courses, tour boats, sightseeing cruises and outdoor guided tours are all now allowed to restart in Phase 2.”
“Tom O’Connor Jr. figures his company will lose $1.4 million after the parent company for Papyrus, one of his largest wedding and greeting card retail customers, filed for bankruptcy protection in January, closing 250 stores across North America.
Even with the bad debt, the chief executive of Mohawk Fine Papers Inc. and owner of five paper and envelope factories in New York, Massachusetts and Ohio was on track for a solid year. Then came the Covid-19 pandemic.”
“New York drug developer Regeneron Pharmaceuticals started clinical trials to determine if its new antibody cocktail is capable of treating and preventing Covid-19.
The trials will focus on hospitalized Covid-19 patients as well as non-hospitalized people with Covid-19 symptoms. Testing also will include uninfected health care workers and uninfected people who may have been exposed to a roommate with the virus.”
“As workplaces and event venues ramp up operations over the coming months, many will need to invest in thermal imaging equipment to screen for potential fevers.
It’s important that businesses make informed decisions about what equipment to purchase, said Howard Vics, owner of Northeast Thermography Medical Imaging and Consulting in Clifton Park.”
“America’s computer chip makers, including locally based GlobalFoundries, got a huge boost from the U.S. Senate on Wednesday with a massive subsidy program proposal designed to help them compete against China’s growing manufacturing influence.
The $25 billion proposal, which would include state funding that would be used to build new chip factories in the U.S., is well short of the $37 billion program that had been pitched by the chip industry, mainly SEMI, the national semiconductor industry trade group.”