January 24 2020

Week in Review: January 20 – January 24, 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:



Albany Business Review: Albany region executives are confident about 2020 — but this one issue keeps popping up


UAlbany sets out to reduce carbon footprint

“The state of New York’s goal by the year 2050 is to switch to a carbon-neutral economy — eliminate almost all carbon dioxide emissions and offset the remainder.

The target set by Gov. Andrew Cuomo has been applauded by some environmentalists for its ambitious vision but doubted by some scientists and business leaders as difficult or impossible to accomplish with current technology and costs, especially across a diverse state of 19.5 million people.”

$4.6 Million In REDC Grants Go To Warren, Washington County Projects

“Some 29 projects in Warren and Washington counties received a total of nearly $4.6 million from New York state as part of this year’s Regional Economic Development Council grant program.

More than $761 million in economic and community development funding was awarded through Round IX of the REDC initiative statewide.”

Group Forms ‘Promote Fort Edward’ Organization To Foster Business Growth

“Fort Edward’s Chamber of Commerce recently rebranded itself as Promote Fort Edward.

Promote Fort Edward is a membership organization that exists to increase business in the village’s historic downtown, officials said. The goal is to build a thriving business district that will be attractive to both new business owners and consumers.”

Repeal Of Medical Device Tax Is Hailed As Relief For Many Businesses In The Region

“The U.S. Senate passed legislation that includes a full repeal of the medical device tax — a 2.3 percent tax on a range of medical devices and products which previous research has shown to have minimal benefits for doctors, patients and manufacturers.

The medical device tax repeal provision was passed by the U.S. House of Representatives prior to the Senate vote.”

$10M rehab for Coxsackie

“A local developer is planning a $10 million rehabilitation of a portion of downtown Coxsackie — and that is just Phase 1.

Developer Aaron Flach owns most of the buildings on South River Street in the downtown area, and has plans for a boutique hotel, event center, restaurants and more.”

Miguel Berger sells Tech Valley Homes to focus on software company

“Miguel Berger always wanted to be on the forefront of new technology during his 30-plus years in residential real estate, so it’s perhaps not surprising he’s giving up his brokerage business to pursue an opportunity in tech.

Berger ended his franchise with Better Homes & Gardens Real Estate on Wednesday and sold his Loudonville firm, Tech Valley Homes, to Howard Hanna Real Estate Services.”

Plug Power hires new HR executive, plans to add 50 employees in Albany and Rochester this year

“Plug Power CEO Andy Marsh said the fuel cell manufacturer has grown to around 750 employees worldwide at the end of 2019 — about 40% of those workers are based in Albany.

And the company plans to keep growing in 2020 in order to make its ambitious goal of $1 billion in revenue by 2024.”

Barkeater working on three new varieties of peanut butter cups

“NORTH CREEK — Barkeater Chocolates owner Deb Morris had a problem. Demand for her peanut butter cups was outpacing her ability to make them.

Morris has not been able to keep her current peanut butter cup product line of milk chocolate, dark chocolate and milk chocolate with sea salt on the shelves. Now she is introducing new flavors — dark chocolate with sea salt, dark chocolate with toffee and even darker chocolate with honey.”

Erbessd Instruments expands distribution to Europe, Canada

“Erbessd Instruments is expanding into Europe and Canada through a new distribution partnership.

The Queensbury-based firm that specializes in vibration analysis, balancing, alignment and online monitoring is welcoming Phoenix Monitoring Technologies and Ken Vander Eyken to Erbessd effective Jan. 30.”

Gore so busy people turned away

“Gore Mountain was so busy this past holiday weekend that some people could not even get to the slopes.

The new snow brought the masses out to the mountain on Sunday and Monday. Johnsburg Supervisor Andrea Hogan said major traffic issues resulted.”

Troy startup inks deal with Delta to bring bacteria-fighting lights to planes

“Vital Vio — the Troy-based company that designs lights meant to continuously kill bacteria — is working with Delta Air Lines Inc. to bring its antimicrobial LED lights to airplanes.

Colleen Costello, CEO and founder of the company, said Vital Vio’s lighting technology is operating on its first aircraft. The startup is testing and validating the lighting’s performance. The overall goal, she said, is to work out what the next stages will be with Delta.”

Capital Region added 2,100 jobs in past year

“The Capital Region added 2,100 jobs in the 12-month period ending in December, the state Labor Department reported Thursday. The 0.4 percent increase was below both the national increase of 1.4 percent and the state’s 1.1 percent increase, although analysts attribute the slowing growth locally to an increasingly tight labor market.

The region’s unemployment rate, at 3.2 percent in November, was among the lowest in the state. December’s local jobless rates will be released Tuesday.”

Funding Partners