October 15 2021

Week in Review: October 11 – October 15, 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:


Albany Business Review: New York offshore wind leads to new $86 million investment at Port of Coeymans by Orsted and Eversource Energy

OffshoreWind.biz: New York Company Secures USD 86 Million Offshore Wind Foundation Deal with Ørsted and Eversource  

Mid Hudson News: Greene County’s economy is growing

Genesee Sun: Governor Hochul Announces Largest, Single NYS Offshore Wind Supply Chain Award of $86 Million 

Business Review: Albany Inno – Video game leader on what the Capital Region’s cluster needs next. (Hint: It’s money)



Albany Inno – Albany medical device startup raises $1.5M for clinical trials

“The medical device startup ReVivo Medical said Monday that it has raised $2 million over the past year. That includes $550,000 announced in January.

This round of funding allows the company to complete 50 surgical procedures as part of a clinical trial for its flagship products.”

Port of Coeymans is area’s second hub for wind turbine industry

“The Capital Region on Friday cemented its place as a center for New York’s growing offshore wind industry with the announcement of a second major assembly point for the turbine structures that will ultimately go off the coast of Long Island over the next decade.

The Port of Coeymans will serve as the assembly area for construction of wind turbine platforms which will support the Sunrise Wind offshore project off the east end of Montauk Point.”

Albany Inno – ‘Our own full-fledged training center’: Two startup founders aim to make a dent in the health care worker shortage

“There is a workforce shortage right now in all areas of the medical industry, and a new Albany startup is working to address the problem.

The medical certification training center has already made a small difference in the Capital Region, and the two founders have big plans for the future of their startup.”

SUNY Poly prof hunts for cancer-killing cells

“Welcome to the Matrix.

Although the leader of this enterprise, Susan Sharfstein, a professor of nanobioscience at SUNY Polytechnic Institute in Albany, is harvesting cancer-killing cells, not humans – her work is redolent of the classic 90s-era sci fi movie of the same name.”

Machine sensors business brings industry to former coffeehouse location in Glens Falls

“When Michael Howard began designing and building sensors to monitor industrial equipment out of his South Glens Falls home six years ago, he had hoped his business venture would flourish.

Today, Erbessd Instruments and Vibro-Lasers helps more than 2,000 clients around the world monitor the condition of vital equipment, saving companies — from the likes of Google to the U.S. Navy — millions of dollars in costly repairs and lengthy shutdowns.”

County buying land near Thruway for $421K

“Greene County plans to purchase land adjacent to the New York State Thruway with the goal

of growing economic development in the area.

The 2.216-acre property, next to Exit 21 on the Thruway, came with a price tag of $421,000, according to a

resolution adopted by the Greene County Legislature on Oct. 12.”

Funding Partners