July 8 2019

Week in Review: July 1 – July 5, 2019

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:


Times Union: NY manufacturers look to avoid tariff hit

Times Union: Saratoga lines up Cadence to create chip design hub

Times Union: Tech’s labor squeeze

Times Union: SEEN: 23rd Annual Center for Economic Growth’s Technology Awards 

Times Union: Opportunity Zones: What are they, and how will they help the Capital Region? 


Business loan program boosts minorities, women

“Small contracting businesses owned by women and minorities are eligible for a boost as they try to surmount the obstacles to growth or even survival.

The new Jobsite Financing program is a continuation of the work the Community Loan Fund of the Capital Region has been doing since it was founded in 1985 — helping entrepreneurs from disadvantaged backgrounds overcome the challenges to founding and growing a business. The Loan Fund has long focused on groups under-represented in the ranks of business owners: Minorities, women and lower-income individuals.”

How this Albany health insurer will start using artificial intelligence

“Health insurer CDPHP is working with researchers at Rensselaer Polytechnic Institute to use artificial intelligence to figure out which patients could benefit from more personalized care.

Rensselaer professor Kristin Bennett has developed an AI model that will use data from CDPHP members — with their consent — to figure out patterns in who could use an extra hand. That assistance could include an action like assigning a case manager to patients with conditions like heart or kidney disease who could use help staying on top of their medical needs.”

A big chunk of the Stockade has a new owner

“Redburn Development Partners has purchased 19 apartment buildings in Schenectady’s Stockade for $10 million.

Jeff Buell, a principal at Redburn, said the company bought 104 rental units from Robin White, a longtime landlord in the historic neighborhood. Sunmark Federal Credit Union provided financing for Redburn’s purchase.”

Village to refocus economy on technology 

“A technology-based economy is on the horizon in Catskill, village officials say. 

The village is drafting plans to open a technology center in collaboration with a group called Innovate 518. Innovate 518 connects those with business ideas to funding opportunities, potential facilities and other resources.”

AngioDynamics plans building project  

“AngioDynamics is looking to spruce up its office space.

The Queensbury Planning Board on June 20 approved a proposal by the company to demolish a 6,900-square-foot portion of the existing building at 603 Queensbury Ave. and construct a two-story, roughly 8,600-square-foot addition.”

HVCC to run GlobalFoundries apprenticeship program

“HVCC will create a targeted electronics technician apprenticeship program for GlobalFoundries employees.

Hudson Valley Community College said its Office of Workforce Development will use a $144,000 grant from the American Association of Community Colleges to develop a curriculum that can be delivered to employees right at the computer chip factory in Malta, and nearby at HVCC’s TEC-SMART extension center.


Funding Partners