Week in Review: October 4 – October 8, 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:
CEG IN THE NEWS
Spotlight News: Bethlehem Community Celebrates National Manufacturing Day
Saratogian: Capital Region P-TECH students participate in paid IBM internships
REGIONAL ECONOMIC DEVELOPMENT NEWS
Curia, formerly AMRI, plans investment in Albany, Rensselaer and Buffalo
“The pharma manufacturer Curia plans to spend $40 million at facilities in upstate New York.
The Albany-based company, formerly called AMRI, plans to invest in its three facilities in Rensselaer, Albany and Buffalo, according to the latest board agenda for NY CREATES.”
Albany Inno – Why this Saratoga doctor started a baby food company
“Unhappy with most of the baby food sold in stores, Dr. Jennifer Lefner had made her own with farmer’s market produce for her two children, now ages 11 and 13.
When Lefner heard stories years later of farmers having to dump produce during the pandemic, that sparked an idea for a startup she thought could help.”
Denver couple returns home with big plans for abandoned Washington County factory
“Jon and Deana Ketchum say detailed craftsmanship achieved in a sustainable way has been the hallmark of the furniture they design and build.
Customizing and building for homeowners and taprooms, the former Denver-based couple fashion wood and steel tables, chairs and stools – in ways that satisfy their own unadorned aesthetic at their 6-year-old company, New Collar Goods.”
COVID-19 sparked a burst of industrial innovation in Capital Region
“Necessity is the mother of invention and just over a year ago there was plenty of necessity, thanks to the pandemic.
Protective masks were in short supply as were bottles of hand sanitizers. Hospitals put out a desperate call for more ventilators and pharmaceutical companies were running at “warp speed” to devise a vaccine as well as treatments for the spreading virus.”
U.S. chipmaker GlobalFoundries files IPO amid global chip shortage
“GlobalFoundries is ready to go public as the Abu Dhabi-government-controlled manufacturer chases a $54 billion market for computer chips used in mobile devices, the Internet of Things, cars, data centers and personal computers.
Less than three months after confirming plans to build a second manufacturing complex in Saratoga County, the world’s third-largest chipmaker has filed an initial public offering with the U.S. Securities and Exchange Commission.”
Arnoff Global Logistics wants to build 120,000-square-foot distribution center in Saratoga County
“Arnoff Global Logistics could invest up to $15 million to expand its Malta warehousing and shipping complex after pumping more than $16 million into its Stonebreak Road property over the past five years.
Mike Arnoff, president of the 97-year-old company, wants to construct a 120,000-square-foot warehouse on the 40-acre property that at one time was home to a Racemark International floor mat factory.”
Bucks County Biscotti Co. considering move to upstate New York
“The owners of Bucks County Biscotti Co. in northern Pennsylvania want to expand and move their commercial bakery to the Airport Industrial Park off Casey Road in Kingsbury, New York.
Partner Riley Silbert and his parents plan to invest $1 million to construct a 5,000-square-foot, U.S. Food and Drug Administration-approved bakery on three acres, just west of the AngioDynamics manufacturing and distribution complex.”
Albany named the best place to live in New York by U.S News
“New York’s capital city has something to be proud of: Albany was named the best place to live in the state by U.S. News & World Report.
Each year, U.S. News publishes its ‘Best Places to Live’ rankings, which analyzes data on the 150 largest metropolitan areas in the country. According to its website, “To make the top of the list, a place had to have good value, be a desirable place to live, and have a strong job market and a high quality of life.” Read the U.S. News ranking methodology to learn more about how each place is ranked.”
IK Partners-backed Kersia grabs majority stake in AgroChem food and dairy disinfectant supplier
“French food safety company Kersia is expanding its presence in the United States by purchasing a majority stake in Saratoga Springs sanitizer and disinfectant manufacturer AgroChem.
The deal was announced Thursday as AgroChem president Rob DeMarco considers a potential expansion of the 34,000-square-foot factory he and his father built five years ago in the W.J. Grande Industrial Park at the southern edge of the city.”
Offshore wind backers announce plan to boost jobs in NY
“Backers of a planned offshore wind farm announced an $86 million contract Friday to train workers and build infrastructure in New York.
The proposed 122-turbine Sunrise Wind farm will need several hundred large structures, including concrete platforms, steel ladders and railings, for wind turbine generators.”