January 10 2020

Week in Review: January 6 – January 10, 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:



Hornell Evening Tribune: New York leads the nation in population decline again

ABC News 10: National Institutes of Health awarded UAlbany millions in 2019 for health research   


Cider Belly Doughnuts opening second location

“Fans of Cider Belly Doughnuts won’t have to drive to downtown Albany to fulfill their cravings for a Sugar Daddy, Glazer or Original Cinn when the business opens a second shop in Colonie.

The new location, 53 Fuller Road off Central Avenue, will also provide the owners with a large commercial kitchen to make their specialty doughnuts for weddings and events.”

Lake George awarded $9.4 million to replace aging sewer plant

“Lake George hotel and restaurant owners no longer have to worry about major increases in sewer bills to help finance a $24 million sewer plant replacement project.

Fears about higher sewer bills were wiped out over the weekend when New York Gov. Andrew Cuomo confirmed the state will contribute an additional $9.4 million to help pay for a new village treatment plant. The state previously had committed $5.5 million, increasing the state’s overall contribution to $14.9 million.”

How Penn Station expansion would benefit Albany train passengers

“Upstate-bound Amtrak passengers know the drill. Find their gate, usually 6E, at Penn Station and get in line.

They may wait half an hour or more before the gate opens, typically just minutes before the train is actually scheduled to leave. The train comes in from a nearby yard, they board, and it departs.”

Soft-Tex acquires REACTEX, adds jobs to Waterford HQ

“Bedding-supply manufacturer Soft-Tex International announced Tuesday it acquired REACTEX personal climate-control technology and plans to add jobs to its Waterford headquarters.

Soft-Tex, headquartered off Hudson River Road, manufactures a variety of sleep-related products.”

Death Wish Coffee partners with Northway Brewing Co. for new beer

“Death Wish Coffee Co. is back with a new beer as part of a collaboration with Northway Brewing Co.

The beer, called Oat-bituary, is an oatmeal stout made with the Saratoga Springs-based Death Wish Coffee, cacao nibs and vanilla bean, according to a news release.”

Albany pharmaceutical startup names new CEO

“Glauconix Biosciences Inc. — a pharmaceutical research startup in Albany — has named Kim Southern as CEO and to its board of directors.

Southern was most recently the chief operating officer of the company. She steps into the CEO role, which had been held by founder Karen Torrejon. Torrejon will now manage and execute the company’s development efforts as its chief science officer.”

Bestpass surpasses $1B in toll management in 2019

“Bestpass, a tech firm that provides vehicle toll management services, said Monday it surpassed $1 billion in tolls handled for its customers for the first time in 2019.

The company also added 20 employees to reach a workforce of almost 100 and nearly doubled the space it occupies at its headquarters off Route 155.”

Historic bank building to become Albany’s largest coworking space

“A Chicago-based operator of coworking spaces nationwide said Thursday it plans what could be the Capital Region’s largest coworking space in a 17-story bank building it has acquired at 69 State St.

Novel Coworking said pre-leasing is under way, and that the first spaces should be available in seven months.”

Funding Partners