Week in Review: January 27 – January 31, 2020
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CEG IN THE NEWS
Times Union: Hochul touts STEM as strategy for a better future
Daily Gazette: Firms in Schenectady, Dubai partner on vehicle charging technology
REGIONAL ECONOMIC DEVELOPMENT NEWS
1 million-square-foot distribution center planned near Thruway in Montgomery County
“Massachusetts developer Winstanley Enterprises wants to build a 1 million-square-foot distribution center off Interstate 90 in Florida, New York, as food manufacturers and retailers scramble to set up massive shipping centers making it faster and cheaper to fill online orders, stock store shelves and deliver products to customers.
The Boston-area firm has secured options to buy 143 acres between the New York state Thruway and Route 5S in the Montgomery County town of Florida. The property, which includes three houses and mostly vacant land, is located on a corridor that already is home to a Target distribution center, a recently opened Dollar General distribution hub and the headquarters of baby food maker Beech-Nut Foods.”
Transfinder increases annual revenue for 22nd straight year
“Transfinder said Thursday it had increased its annual revenue for the 22nd year in a row.
The downtown Schenectady tech firm, which specializes in fleet route management software, primarily for school buses, also added clients and employees, President and CEO Antonio Civitella said.”
Greene County jobs break record
“A recent report from the state Department of Labor revealed that the number of jobs in Greene County is at an all-time high, county officials said Monday.
The county experienced a 1.9% increase in nonfarm jobs from December 2018 to December 2019, according to the report, going from 15,700 jobs to 16,000. Greene County was among seven areas that are gaining jobs faster than the state rate, according to the report. The other counties include Allegany, Seneca, Ithaca Metro, Cortland, Sullivan and New York City.”
Cree making progress with Utica factory
“Cree, the North Carolina company that is building a $1 billion silicon carbide chip factory next to the SUNY Polytechnic Institute campus in Utica, is moving forward with construction and has hired a contractor to oversee the massive project.
The company that is doing the work, Exyte, built GlobalFoundries’ Fab 8 computer chip factory in Saratoga County. Exyte used to be known as M+W Group and has its U.S. headquarters inside the ZEN building at SUNY Poly’s Albany campus.”
Why Albany’s Community Loan Fund sees opportunity in Cuomo’s new banking proposal
“Gov. Andrew Cuomo wants to bring $25 million to organizations that offer low-cost loans to low-income communities as well as minority- and women-owned businesses.
The program could be a boost for organizations like Linda MacFarlane’s.
MacFarlane is the executive director of the Community Loan Fund of the Capital Region, a nonprofit community development financial institution that offers low-cost loans across an 11-county area. It lends more than $2.5 million each year to community organizations and small businesses that may not have access to traditional banking. It also offers training and technical assistance programs, as well as an in-house incubator.”
NY-Based Research Team to Collaborate on Quantum Research
“A collaborative cross-institutional research team led by Stony Brook University’s Eden Figueroa, associate professor in the Department of Physics and Astronomy, has secured a Conceptualization Grant of $150,000 from the National Science Foundation (NSF) Quantum Leap Challenge Institutes program. The award recognizes a collaborative effort to drive quantum information science-related research and is led by faculty and research staff from Stony Brook University, Brookhaven National Laboratory, The University at Buffalo, and SUNY Polytechnic Institute.
One goal of the team is to develop a proposal for the next round of Quantum Leap Challenge Institutes funding, which could mean millions in additional NSF support to fund a quantum-focused center where researchers can advance everything from quantum devices and materials to distributed quantum systems.”
CDTA won its eminent domain battle for a Troy transit center. What happens next
“The Capital District Transportation Authority is one step closer to building a long-delayed transit center in downtown Troy.
CDTA is acquiring property currently owned by David Bryce at the corner of Fulton and Fourth Streets through eminent domain. CDTA wants to use the parcel alongside the Uncle Sam parking garage to build a $6 million to $8 million outdoor bus shelter.”
Hotels saw occupancy gains in 2019
“Hotels in the Capital Region showed gains in occupancy last year as a multi-year building boom slowed, data from industry monitor STR show.
Schenectady County’s hotels filled their rooms 60.7 percent of the time, a 3.2 percent increase from the previous year, while the revenue per available room rose 5.2 percent to $73.04 a night.”
Plug Power races toward $1 billion, announces $50M contract
“Plug Power has signed a contract to install 2,000 fuel cells that will power forklifts at 12 U.S. distribution centers, boosting sales by $50 million this year.
The contract solidifies the Latham fuel cell maker’s relationship with what chief executive Andy Marsh describes as a third large or “anchor customer” that will help propel the company to $300 million in gross billings for 2020.”
Six warehouses proposed in Colonie
“Ben Radtke, the proprietor of T&T Body King is proposing to build six, one-story warehouse buildings on Old Niskayuna Road.
The 13 acres near the Pepsi bottling plant and across Old Niskayuna Road from the Davey Tree Service company is home to T&T, a snowplow and heavy truck equipment supply and repair shop since 1967. The company was started on Route 9 by Ben Radtke’s grandfather, according to the company website, in a one-bay garage in 1960.”