November 2 2020

Week in Review: October 25 – October 30, 2020

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:


For Fidens Brewing, the pandemic pivot brought it right back where it wanted to be

“Since it opened about a year ago in Colonie, Fidens Brewing has kept a low profile — and intentionally so.

Michael Carter and his two business partners, Steve Parker and Tim Pierce, started brewing and serving beer out of a 2,000-square-foot industrial space without any desire to please a large crowd.”

September home sales up sharply in Albany region

“Single-family home sales shot up 27% in September in the Albany region and prices rose sharply as strong demand, limited supply and rock-bottom interest rates continue to drive the residential real estate market during the Covid-19 pandemic.

Pending sales, a measure of contracts signed during the month, rose 27% compared to the same period last year, according to preliminary results released by the Greater Capital Association of Realtors.”

Ecovative to debut world’s first whole-cut mushroom ‘meat’ in Capital Region

“The world’s first whole-cut mushroom meat, created by local company Ecovative, is set to debut soon in the Capital Region.

MyBacon, the premiere product by MyEats, is launching on Monday, Nov. 9 at Honest Weight Food Co-op in Albany. It will be available in six-ounce packages for $5.99 each.”

Gridworks by McRoberts plans expansion, new warehouses in Halfmoon

“Mark McRoberts wants to take the next step in the growth of a business he started almost 30 years ago after working in the construction field alongside his father.

McRoberts wants to build a 10,000-square-foot office/warehouse in Halfmoon that would provide more room for equipment and materials and put everything under one roof.”

CDTA preparing for second bus rapid transit line to start operation in November

“The Capital District Transportation Authority is launching its newest bus rapid transit line Nov. 8, marking the completion of a $42 million project.

The new line, known as the River Corridor or “Blue Line,” connects Albany to Troy, but also stops in Waterford, Cohoes, Lansingburgh, Watervliet, and Menands. It will be the region’s second BusPlus rapid transit line — the existing line runs along the Route 5 corridor between Schenectady and Albany.”

How the Tech Valley Center of Gravity has been rethinking its role in the startup community

“The past eight months have been a tumultuous time for many people, including the startup community in the Albany region. The disruption has prompted the Tech Valley Center of Gravity to spend this time working to enhance its role in the community.

The Center of Gravity is a 15,000-square-foot makerspace, prototype center, and manufacturing incubator in downtown Troy that serves about 50 small businesses. That includes 17 that operate from the building and seven based in the manufacturing incubator.”

UAlbany’s upcoming $180M ETEC building will include space for industry partner research

“The University at Albany plans to reserve space for industry partners in its upcoming $180 million Emerging Technology and Entrepreneurship Complex in Albany.

The 245,000-square-foot building, which will be UAlbany’s second-largest, will have about 6,000 square feet of space for collaborating companies, according to Matt Grattan, director of community and economic development for UAlbany’s Division for Research.”

New York City actors want to use historic downtown Troy mansion as performance space and inn

“A small group of New York City actors and artists looking for a more affordable place to live and practice their craft during the Covid-19 pandemic have set their sights on a historic mansion in downtown Troy.

The group call themselves Castle Arts LLC, inspired by the nickname for the four-story home with limestone exterior at 49 2nd St. built in the early 1890s by industrialist John W. Paine.”

New brewery approved by planning board

“The Columbia Filling Station, a new brewery proposed to replace the TJ Auto Service Center, was approved by the city Planning Board on Tuesday.

Emma O’Donnell and her husband Paul O’Donnell, of 735 Columbia St. LLC, proposed to acquire the property at 735-737 Columbia St., to create a bar, restaurant and brewery.”

Two companies want to join Moreau Industrial Park

“Two businesses want to relocate to the Moreau Industrial Park, which would be a first in the park’s history.

The park, on Farnan Road, has only ever housed one business: Hexion, an adhesive company.”

Candy wholesaler is about to buy former Just Water bottling plant

“Donohue Candy & Tobacco Co. is under contract to purchase the former Just Water bottling plant on Broad Street in Glens Falls.

The tentative purchase price is $500,000. The 14,500-square-foot building was listed with Cushman & Wakefield Pyramid Brokerage Co. for $850,000.”


Funding Partners