Week in Review: May 2 – May 6, 2022
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CEG IN THE NEWS
Daily Gazette: Capital Region BOCES students to put skills to work for employers
Troy Record: Cohoes receives additional grant funding for Municipal Floating Solar Demonstration project
REGIONAL ECONOMIC DEVELOPMENT NEWS
Capital Region craft brewers continue to expand
“The craft beer industry isn’t growing as quickly as it was last decade, but that isn’t deterring several of the region’s largest craft brewers from expanding.
It’s not just the big getting bigger, either. A number of brewers on this year’s List said they’re expanding current operations, scouting new locations or increasing capacity at their taprooms.”
GlobalFoundries wins $117 million U.S. defense contract, work will move to Saratoga County
“GlobalFoundries will move production of 45-nanometer computer chips from its East Fishkill factory to its manufacturing complex in Saratoga County after securing a $117 million contract with the U.S. Department of Defense.
Production currently is handled out of the former IBM plant in East Fishkill, currently known as Fab 10. The federal government awarded $8 million to GlobalFoundries in March 2021 to perform engineering work necessary to relocate the 45-nanometer line to its $15 billion factory that straddles parts of Malta and Stillwater.”
National Grid gives Cohoes $750,000 for floating solar array project
“The city’s proposed 8,000-panel floating solar array on the city reservoir to generate electricity to power city buildings received another financial boost Tuesday when National Grid donated $750,000 toward funding the $5.9 million first of its kind in the nation demonstration project.
The National Grid grant supplements the $3 million in federal funds obtained by U.S. Rep. Paul Tonko, D-Amsterdam, to set the project sailing toward completion. Engineering work is expected to start on the 3.2 megawatt grid of panels in a month, according to city officials.”
General Electric Co. has been quietly meeting with state and local officials in recent months about building a new offshore wind manufacturing facility in the region
“General Electric Co. has been quietly meeting with state and local officials in recent months about building a new offshore wind manufacturing facility in the region, along with potential government subsidies that would be available for such a venture, state lobbying records show.
The behind-the-scenes talks have been happening as U.S. Senate Majority Leader Charles Schumer of New York has been pressing the CEOs of GE and Vestas, a Danish wind turbine maker, to consider establishing manufacturing sites in the Capital Region.”