October 24 2022

Week in Review: October 17, 2022-October 21, 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:


Spotlight News: SCRI survey: Young people want to move

TAlbany Business Review: The Albany region’s adding jobs — now it needs to attract the people

Spotlight News: Study: Area cost of living is going down



The Hive “Cannabus” brings THC-infused drinks to the Capital Region

“On nights out with friends, sober Dave Sershen often found himself sipping on a non-alcoholic beverage and wishing there was a more enjoyable alternative.

Now, he’s the owner of The Hive 518, a new Capital Region bus that serves THC-infused frozen drinks. Touted as upstate New York’s “original Cannabus,” the Saratoga Springs-based company wants to spearhead the movement to make marijuana mainstream at social events.”

Albany Inno – The Pitch: Mechanicville startup Aha! Solutions offers a step up

“Aha! Solutions Inc. developed a a new kind of step stool that hooks onto surfaces for stability and can be used by children. The Next-Step Stool is a compact step stool with no assembly required, adjustable height and anti-tipping technology to prioritize safety for any age.

Aiming to raise an additional $95,000 in capital to meet its goal, the company is a finalist in FuzeHub’s 2022 Commercialization Competition taking place in Buffalo Oct. 25-26. A crowdfunding campaign is also set for 2023.”

Downtown Albany transit center could take place of bus station, study concludes

“The dilapidated Greyhound/Trailways bus station in downtown Albany could be demolished and replaced with a roughly $82 million parking garage/multimodal transit center, according to a study completed months ago.

The feasibility study, which was done on behalf of the Albany Parking Authority and Capital District Transportation Authority, was finished in February, with an addendum in May.

UAlbany launches new atmospheric science graduate program

“As businesses large and small face mounting pressure due to the changing climate, a new graduate program at the University of Albany will prepare students to use atmospheric science to assist organizations in combating climate-related challenges.

  The school is accepting applications for its new master of science program in applied atmospheric science, offered through the Department of Atmospheric Science and Environmental Sciences.”

ReWire Group expands to Albany with space at UAlbany’s ETEC

“ReWire Group is joining the Start-Up NY program with a goal of creating 75 new jobs over the next five years on the University at Albany campus.

As part of the move, ReWire will take space at the UAlbany Innovation Center, located within the university’s Emerging Technology and Entrepreneurship Complex on the Harriman State Office Campus in Albany.”

Microsoft helps newly minted computer coders prep for job market

“The local job market is extremely tight these days as the Capital Region’s unemployment rate is hovering just above 3 percent.

That means that job applicants have lots of leverage over those doing the hiring, especially in the technology, manufacturing and healthcare fields where expertise is a requirement. That dynamic drives up salaries and makes companies spend a lot of time and expense to hire the workers they want.”

Funding Partners