Week in Review: March 21 – March 25, 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:
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REGIONAL ECONOMIC DEVELOPMENT NEWS
“Each year, 108 billion pounds of food — 40% of what’s produced — is wasted in the U.S. Noelle Dommasch has left behind her first career as an English teacher to make a dent in that massive number, at least in the Albany region, with a new compost startup.
Dommasch plans to sublease a roughly 1,650-square-foot warehouse space from garden supplier Organica inside the former Honest Weight Food Co-op building at 484 Central Ave. in Albany. She wants to outfit it with expensive machines from Spain that she says produce high-quality compost more efficiently.”
“There’s a new video game studio in town, and it’s growing faster than expected.
A group of three senior software engineers left the PUBG video game studio in Saratoga Springs last fall to start their own, Rushdown Studios.”
“The Greene County Industrial Development Agency has a new executive director for the first time in nearly 11 years, but it’s someone local officials know well.
April Ernst took over the position in January from Rene VanSchaack, who retired but continues to serve as a part-time consultant to help with the transition.”
“Brothers Raj and Nil Ghoshal are about to purchase two properties in Mechanicville to boost manufacturing capacity, bring in more raw materials and add space for a research center.
The second-generation owners of Polyset in Stillwater are negotiating the purchase of two warehouses, totaling 24,500 square feet from HLM Ventures LLC and its principal, Paul Morse Jr.”
“The Grid Solutions business of General Electric has won a contract for part of the 816-megawatt wind turbine project to be constructed off the Long Island coast.
Grid Solutions and BOND Civil & Utility Construction will build onshore and offshore high-voltage electrical systems for Empire Offshore Wind 1, including the substation that will link the wind farm to New York’s power grid.”
“Following two of its biggest growth years ever, GreyCastle Security has moved into a new space that its CEO says will allow that trajectory to continue.
The cybersecurity company is relocating nearly 40 Capital Region employees from its offices at 500 Federal Street in Troy to a space at 185 Jordan Road in Rensselaer Technology Park in North Greenbush.”
“Standing at the Blake Annex, Albany’s rapidly growing nonprofit hub, U.S. Senate Majority Leader Chuck Schumer recently announced he secured more than $22 million for the Capital Region through the bipartisan omnibus spending package for Fiscal Year 2022 to support cutting-edge research and dozens of community-led projects. Schumer revealed three major, long-held community priorities that would benefit from the federal funding he has delivered.”