March 18 2022

Week in Review: March 14 – March 18, 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:



Troy Record: Gillibrand announces Made in America Manufacturing Communities Act

WTEN News 10: Capital Region gaming industry continues to grow

Albany Business Review: How UAlbany is preparing students for the growing esports industry



National Institutes of Health grant supports Albany Med research on circadian disruption

“Albany Medical College scientists are among a multi-institution research team to receive $3.2 million from the National Institutes of Health (NIH) to study why disruptions in circadian rhythms increase the risk of diabetes and heart disease.

“Millions of essential workers who work night shifts are impacted by circadian disruption, but there are no proven therapies that prevent or lessen its harmful effects,” said Antonio Paul, Ph.D., associate professor in the Department of Molecular and Cellular Physiology at Albany Medical College, one of three scientists leading the study.”

Menlo Micro raises $150 million for chip fab

“Menlo Micro, a tenant at Albany Nanotech that is looking to build a domestic manufacturing site possibly in upstate New York, has raised $150 million for the new facility.

The venture capital was raised to pay for a new factory that Menlo Micro wants to build to make its cutting-edge electronic switches, which are used in everything from electric vehicles and smart home devices to 5G cellular networks and aviation.”

Schenectady brewers Wolf Hollow, Great Flats win gold at state brewing competition

“Two Schenectady County brewers took home gold medals at the 2022 New York State Craft Beer Competition.

The award ceremony was one of the highlights of the NYS Brewers Association conference held Wednesday through Friday at the Albany Capital Center. Judging was completed Feb. 13 and 14 by a panel of 60 experts at an event in Rochester.”

Arnoff Global Logistics In Malta Begins The Construction Of 120,000-SF Warehouse

“Arnoff Global Logistics has broken ground on a new 120,000-square-foot warehouse at its 40-acre Malta headquarters, the former home of Racemark International.

The company said the new warehouse will occupy a portion of the 18 acres of vacant land on the company’s sprawling campus. It will sit adjacent to Arnoff’s existing warehouse which is currently operating at full capacity. The need for additional space has been fueled by demand for the company’s warehousing and order fulfillment services which account for one-third of its revenue.”

Schumer secures $1.5 million for South End wind turbine training center

“U.S. Senate Majority Leader Charles E. Schumer of New York said he has secured $1.5 million in federal funding for a new training center to be located in Albany’s South End for wind turbine assembly jobs.

The Port of Albany is developing land on the Hudson River in the town of Bethlehem – located just south of the city line – for a large wind turbine tower assembly facility.”

Small City Sets Example for Floating Solar, Empowered by NREL Data Set

“Two city employees of Cohoes, New York, were brainstorming how to power the city’s municipal buildings with renewable energy, but few options made sense. Cohoes does not have acres of unused land for solar panels, and the slate-topped buildings cannot hold rooftop solar. Moreover, with its high amount of low- and moderate-income (LMI) residents, 17,000-person Cohoes was not swimming in cash. The solution had to be something local—something to keep cost savings within the community.

“‘We looked at every aspect of how to add clean energy to our working-class community,’ said Theresa Bourgeois, director of operations for the city of Cohoes. ‘Then my colleague came upon the idea of floating solar. We considered our 10-acre water reservoir and asked, Can we really utilize this?’ The more we researched, we realized yes, we can! In fact, it’s the best possible answer.’”

Latham Group CEO Scott Rajeski wanted to surpass $400 million in sales in five years. It took him 3 years to do it

“Shortly after Scott Rajeski was promoted to chief executive of swimming pool manufacturer Latham Group, he set a goal of growing revenue from $270 million to $400 million in five years. It took him three years.”

GE Research gets $4.5M federal grant to help improve nuclear power

“General Electric researchers in Niskayuna are helping design a system to reprocess spent nuclear fuel as part of a federal effort to expand use of nuclear power in America.

The Department of Energy earlier this month announced a $4.5 million award to GE Research for the project, and $31.5 million for 10 related projects.”

Funding Partners