Week in Review: November 7, 2022-November 11, 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:
CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Plans for Rocket Science’s headquarters are starting to take off.
The company, which fulfills development contracts for other video game companies, purchased a 9,000-square-foot former firehouse in Glenville for $350,000 and is investing roughly $1.5 million for a full renovation.”
“The region’s logistics companies are in the middle of an industry undergoing a boom.
Despite supply chain concerns and worldwide inflationary pressure, logistics companies have been riding a wave of growth since the pandemic forced consumers and companies to rethink how they obtained products.”
“A new grant for Rensselaer Polytechnic Institute will help the region’s innovators find customers, pinpoint a market and eventually turn their idea into a business.
The City University of New York was designated as a hub by the National Science Foundation’s Innovation Corps programs in 2021 with a $15 million grant. Rensselaer has been chosen as a CUNY partner institution this year and will officially join the program in January.”
“Mushrooms are having a moment.
The New York Times recently named them the “Ingredient of the Year.” General Motors has invested in a California startup that’s using them to make imitation leather. Michael Pollan’s bestseller, “How to Change Your Mind,”about hallucinogens, is now a Netflix series. And here in the Capital Region, Troy’s Collar City Mushrooms is farming fresh, gourmet fungi, running as fast as they can to meet constantly increasing demand.”
“Plug Power just started production at its $94 million factory in the Vista Technology Campus in Bethlehem last weekend and the company already is figuring out when it will be time to expand.
That is just one part of the strategy for the electrolyzer and hydrogen fuel cell manufacturer as it races to increase capacity while constructing more hydrogen generation plants across the world.”
“In June of 2021, Scan2Plan hit its limit.
The now-Troy-based company — which works with architecture and design firms to map spaces — maxed out its capacity for projects. And it was a wake up call for CEO V. Owen Bush.”