May 21 2021

Week in Review: May 17 – May 21, 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:




Lux Semiconductor prepares to hire, scale up

“The Albany startup Lux Semiconductors is developing a prototype of its next-generation circuit board and plans to engage prospective clients later this year.

Lux in the next several months plans to hire its first employees — a couple of electrical engineers and a business development professional — as it prepares to work with tech companies on incorporating the circuit board into their products, said Shane McMahon, Lux CEO.”

Arnoff Global Logistics wants invest $18.7 million to expand its Saratoga County campus

“Arnoff Global Logistics is considering an $18.7 million expansion of its 40-acre campus in Saratoga County to secure more work with manufacturers of cabinets, beverages, motorcycles and computer chip equipment.

“Our need today is for a lot more space … just to meet the pipeline of opportunities that have come our way,” said Mike Arnoff, president of the 97-year-old family-run warehousing, assembly and shipping company.”

DPS Group, Menlo Micro take more space at Albany NanoTech Complex

“CommerceHub’s lease for its headquarters office space is being terminated this November, but that’s not the only tenant making moves at the Albany NanoTech Complex.

Several tenants over the past couple of months have officially ended, expanded or maintained their office footprint at the complex, according to board documents for NY CREATES, the organization that oversees leasing for the site’s multiple buildings. The complex houses SUNY Poly, IBM and others.”

Albany College of Pharmacy and Health Sciences’ CBET attracts biopharma industry partners

“The Stack Family Center for Biopharmaceutical Education and Training in Albany is attracting some of its first research and development activity with corporate partners.

The center was opened recently by the Albany College of Pharmacy and Health Sciences, occupying 3,000 square feet at the Albany NanoTech Complex alongside SUNY Polytechnic Institute.”

Amazon wants second distribution facility in Rensselaer County

“Amazon wants to expand its reach in the Albany region with another distribution center.

An Amazon representative told the Schodack Planning Board on Monday the company would occupy a 278,670-square-foot warehouse that was proposed in April by Scannell Properties, according to Nadine Fuda, the town’s director of planning and zoning.”

Vara Safety expands sales of its fingerprint sensor gun lock

“Vara Safety had plenty of customers this past December — but it had one problem: there was no product to sell.

The Troy startup makes a mounted handgun holster that locks the gun in place and unlocks it with a fingerprint. Sales were up as the pandemic prompted people to buy guns.”

Fuel cell maker Plug Power’s headcount more than doubles in two years

“Plug Power’s headcount more than doubled over the past two years, surging to more than 1,400, as the fuel cell maker expands beyond forklifts into trucks, commuter planes, backup power and hydrogen-producing electrolyzers.

The Latham manufacturer’s companywide payroll grew from 685 at the end of 2018 to 1,442 this month. And the company has another 240 openings for engineers, data scientists, warehouse workers, purchasing staff and field technicians.”

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