Glens Falls Business Journal - February 2024

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FEBRUARY 2024

The Saratoga Casino Hotel Announces Its The Northeast Construction Trades Coalition 83rd Season Of Harness Racing Programs Provides Options For Trades-Bound Students

Always Watching, the 2023 Saratoga Harness Horse of the Year, competes at the Saratoga Race Course. She is owned, trained, and driven by Jordan Derue.

Live harness racing returned to Saratoga Casino Hotel for its 83rd season on Saturday, February 3.

The 2024 schedule will consist of 150 racing programs running through mid-December with a total of over $17 million in purses.

2023 Leading Driver, Jim Devaux, and Leading Trainer, Brett Derue, look to defend their titles this coming season. For Devaux, that would make it four years in a row.

In addition, the track will be hosting NY Sire Stakes races starting in June featuring the best New York bred horses in the state which will race for over $1 million in purses. The premier event of the season will be the 15th Annual Joe Gerrity Jr. Memorial Pace with a $250,000 purse on Saturday, July 20.

“We are looking forward to a tremendous season of racing here at Saratoga Casino Hotel,” said Race Secretary Peter Iovino. “Our purses will attract a quality product for our racing fans.”

To kick off the season, the month of February will feature several promotions including up to 15

Photo by Jessica Hallet

percent bonuses on all winning wagers on Saratoga Harness races for SaratogaBets account holders while playing on property through the SaratogaBets mobile app or any self-service betting terminal.

Interested horseplayers can log on to www.saratogabets.com to sign up for a free account.

On Sunday, February 18, the first 400 customers will receive a long-sleeve T-shirt courtesy of the Saratoga Harness Horseperson’s Association.

This will be followed by another chance to spin the prize wheel to win a $25-$100 free bet on Monday, Presidents’ Day. The winter, spring and fall schedule will include matinee racing on Sunday, Monday and select Tuesdays, post time 12 p.m., and Saturdays, post time 5 p.m. The summer live racing schedule will be Thursday, Friday and Saturday evenings with a post time of 5 p.m.

Go to www.saratogacasino.com for track announcer Mike Sardella’s race picks and biweekly column, and updates to the live race schedule.

Doug Ford is the president and co-founder of the Northeast Construction Trades Workforce Coalition, which recently obtained non-profit status.

BY PAUL POST Doug Ford couldn’t land a teaching job right after college because the market was flooded, so he took temporary work at a lumber company, just to pay off some bills “I took the job with the intention of working three days and stayed 19 years,” he said.

“I fell in love with the industry. They made me a store manager. When you manage it’s really like teaching. They would send me to different stores that were challenged. I’d get it up and running and they’d send me to the next one.”

Now he’s vice president of public relations and purchasing at Ballston Spa-based Curtis Lumber Company, where he’s worked the past 27 years. In a related role, he’s also president and co-founder of the Northeast Construction Trades Workforce Coalition, which recently obtained non-profit status.

The organization has a diverse member-

ship ranging from builders and material suppliers to colleges, school counselors and administrators. They all work together with a single-minded goal of attracting young people to the construction trades industry, to alleviate a severe labor shortage that’s reached crisis proportions in both the Greater Capital Region and United States at large.

The coalition is an outgrowth of efforts begun several years ago by Curtis Lumber and Saratoga Builders Association. Ford cofounded the organization with Pam Stott, a former Curtis Lumber official, now the coalition’s new executive director.

“I think 2024 is going to be much better than 2023 in terms of new construction, especially during the second half of the year,” Ford said. “Interest rates are coming down to a point now where people are thinking Continued On Page 12

Weekender Hotels Cater To Those Seeking Quintessential Mortgage Group Opens Memorable Experiences In The Outdoors New Office On Broad Street In Glens Falls

BY PAUL POST Keir Weimer saw possibilities in a run-down, century old Adirondack hotel whose owner was faced with foreclosure.

Today it’s the flagship in a string of properties from Tupper Lake to Southern New Hampshire geared specifically for outdoors adventure lovers.

This year alone, plans call for expanding to Saratoga Springs where his company, Weekender Hotels, is based along with the Catskills near Hunter and Windham ski resorts, and New England’s Green and White mountains.

“We’re connecting people to experiences within these awesome settings,” Weimer said. “Our ideal guest is 25 to 55; singles, couples and families that have a penchant for nature and the outdoors. It used to be more of a niche market. Now it’s really the fastest growing segment of leisure travel. If they want to get out to hike, boat, fish, snowmobile, ski or go mountain biking, we make sure our properties are located near all of those things within a short 20-minute drive.”

The venture began nine years ago with the Great Pines resort near Old Forge. Weimer was its listing agent for a Saratoga Springs real estate firm, but couldn’t find any prospective buyers. So he recused himself as the seller’s broker, became the buyer and convinced two friends to partner with him in purchas-

Town House Lodge, is a 2nd location in Lake Placid that is owned by Weekender Hotels.

Courtesy Weekender Hotels

ing the site, which had 30 rooms and two restaurants.

“We were all in our early thirties and didn’t know a thing about hospitality, running a restaurant or resort, or being a project manager for renovations,” Weimer Continued On Page 5

BY ANN DONNELLY Quintessential Mortgage Group, with offices throughout the East Coast, opened its newest office in the Union Square building, 9-11 Broad Street, Glens Falls. “We are thrilled to establish our presence in Glens Falls and have Maureen Ginter-Grabowski lead our team in this vibrant community,” said Michael Piazza, Director of Growth.

“Maureen’s expertise and dedication to excellence align perfectly with our mission to empower homebuyers and homeowners with personalized mortgage solutions.”

“I’m excited to start this venture with Quintessential Mortgage Group,” says Ginter-Grabowski, who has been in the mortgage industry for over 20 years and was in Title Insurance for 20 years before that. “My background gives me a lot of extra insight for my clients.” Ginter-Grabowski has worked with Glens Falls, Saratoga, and Capital District firms. Most recently, she was Senior Loan Office and then Branch Manager with Homestead Funding Corp.

With its main headquarters in White Plains, New York, Quintessential Mortgage Group has been operating for over fifteen

Maureen Ginter-Grabowski of Quintessential Mortgage Group cuts ribbon at recent ARCC event.

Courtesy Quintessential Mortgage Group

years and has earned recognition as the leading mortgage provider in this state, Continued On Page 14

2 • GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024

A Passion For Dance Has Prompted Lake George Spanish Teacher To Offer Classes

Personnel Briefs •

Glens Falls native Colin Bannon has scored one of the first major Hollywood deals of 2024. Universal Studios purchased his short story package Long Lost.

Steven Spielberg will be a producer. One entertainment news site says: “Colin Bannon’s name is one you can expect to hear a lot more of.” * * * Janine Scherline of Peru, N.Y., has joined the Adirondack Council staff as Director of Development.

At the same time, Elizabeth Rogers of Willsboro joined the Council’s staff as Director of Strategic Initiatives and Engagement.

Prior to joining the Council’s team, Scherline was Director of Donor Engagement for the Adirondack Foundation, a regional community-foundation based in Lake Placid. Rogers was Director of Development for the UVM Health Network – Elizabethtown Community Hospital.

“With the new year comes an amazing opportunity to welcome two new senior staff members to the Adirondack Council,” said Adirondack Council Executive Director Raul J. Aguirre.

Scherline will fill an existing director position, while Rogers will take on a newly created senior position focused on operational and strategic planning priorities. * * * The Warren County Historical Society held its 26th annual meeting at the Holiday Inn last month.

Those in attendance were updated on the progress of the development of the Joseph Warren Museum next door to their headquarters at 50 Gurney Lane in Queensbury.

The new trustees elected were John DiNuzzo, John Strough, and John Schroeter. Dr. Stan Cianfarano and Teri Rogers were reelected as CoPresidents; along with Tom Lynch, Vice-President; John Barry, Treasurer; and Marianne Moran, Executive Secretary.

Dr. Paul Derby’s term expired and was thanked for his contributions.

• The new trustees will be working with the existing board of Bob Bayle, Patricia Berry, Cherie Brooks, Patricia Dolton, Chuck Farrar, Gerri Groff, Bruce Hazard, Wally Hirsch, Kurt Kilmer, Andrea Matte, Steve Matte, Judy Melkonian, Eloise O’Neil, Dr. John Simon, Wayne Wright, and Executive Director Don Rittner.

Priorities for 2024 were also discussed. * * * Glens Falls Symphony cellist Eva Roebuck had a front-row seat to the filming of the new Leonard Bernstein biopic, “Maestro,” the Bradley Cooper film nominated for seven Oscars. She was hired to play in an orchestra scene filmed at Tanglewood Music Center in The Berkshires.

“It is my hope that this film places Leonard Bernstein even more firmly into history as a household name,” she writes. “As musicians, many of us grew up listening to Bernstein’s recordings, studying his conducting, listening to his lectures, etc., but sadly those experiences are often limited to those who pursue music professionally. Lenny is such a beloved, even revered, figure to many and a titan of bringing classical music to the masses, and perhaps ‘Maestro’ will help continue that legacy via a different medium.”

In addition to the Glens Falls Symphony, she is a member of The Orchestra Now at Bard College and the Hartford Symphony.

The Glens Falls Symphony is in its 40th season.

Glens Falls is the smallest city in the country with a professional symphony. * * * The Arrow Family of Companies has announced that Marc Yrsha has been promoted to Senior Executive Vice President, Chief Banking Officer and Brooke Pancoe has been promoted to Executive Vice President, Chief Human Continued On Page 3

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BY ANN DONNELLY Jennifer Cornell, owner of Dance Moves with Jen LLC, didn’t grow up as a dancer. She started classes at the Arthur Murray Dance Studio in Saratoga 15 years ago when she and her husband were looking for things to do for a “date night.” As her passion for dance, particularly Latin dance, grew, she started leading and then teaching classes at Tango Fusion Dance Company while a full-time Spanish teacher at Lake George High School.

After six years at Tango Fusion, having also gained experience acting as a DJ and emcee at events, Cornell decided to go out independently and started Dance Moves with Jen LLC. Her passion for dance and music, with her added experience as a teacher, gives her a particular skill with running events and getting guests on the dance floor. Often accompanying Cornell is her husband, Chris.

“He does a lot of the MCing. He’s also a teacher, retiring this year, and is great in front of a group of people,” she says. “The rapport between us helps move the event along.”

A certified instructor in Salsa (Dance Vision) and West Coast Swing (GPDIA), in January 2024, Cornell started teaching weekly classes on Thursday evenings at Sunnyside and Ridge studio an event space, recently opened by Jennifer Islas in Queensbury.

“The West Coast Swing classes have been particularly popular. I get a wide variety of people, from high schoolers to retired people, because it can be danced to any style of music. We are developing a West Coast Swing community here,“ says Cornell.

She also offers monthly events with an upcoming

Courtesy Dance Moves with Jen LLC

Mardi Gras Masquerade at Glens Falls Country Club on February 24 and a Latin Dance night with a three-course Latin-themed dinner at Fort William Henry on March 8.

Cornell brings some unique skills to her work at events. She adds an interactive element to corporate events where guests can learn a dance, switch partners, etc. Fluent in Spanish, Cornell specializes in working events with a large Spanish-speaking audience, especially popular for quinceañeras, an event celebrating a girl’s 15th birthday that is traditional in Latin communities.

For those interested in learning dance who may be hesitant to come to a class, especially alone, Cornells says, “We are a very welcoming community, and we will get you going. I have a lot of assistance and can take you aside and give you some steps to start. You don’t need to come with a partner. Most people don’t. We rotate partners throughout the class.”

Cornell will officially launch Dance with Jen LLC on February 29 with a joint ribbon cutting with the Adirondack Regional Chamber and Lake George Regional Chamber of Commerce, followed by a party with dance lessons, open dancing, and pizza, all at no charge.

If you are in need of an interactive DJ for a wedding, birthday, retirement party or corporate event, remember Dance Moves with Jen offers both DJ and Dance lessons for her clients.

Find out more about Jennifer Cornell and Dance with Jen LLC at https://www.dancemoveswithjen. com.

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Jennifer Cornell, owner of Dance Moves with Jen LLC, a certified instructor in Salsa (Dance Vision) and West Coast Swing (GPDIA) will launch on February 29th with a joint ribbon cutting with ARCC.

12/15/20 2:32 PM

GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024 • 3

Area Company Designs Custom Helmets Used By Stunt Drivers In The Movie ‘Ferrari’

KIRSH Helmets DOT approved unique design includes a fluid liner inside a half-shell motorcycle helmet. The Schenectady based company operates production facilities in Queensbury.

BY PAUL POST “If you get in one of my cars, you get in to win.” -- Enzo Ferrari.

This same mindset has helped Donnie DeVito and Jason Kirshon grow their business, KIRSH Helmets, to achieve coast-to-coast sales in just a few short years.

Now it’s gaining international exposure by playing a significant role in the new Michael Mann-directed film, “Ferrari,” released on Christmas Day co-starring Adam Driver and Penelope Cruz.

The Schenectady-based company, with production facilities in Queensbury, specializes in making half shell motorcycle helmets, the kind most popular with Harley-Davidson and Indian motorcycle riders.

Its most unique, revolutionary feature is a fluid liner, inside an aerodynamically designed shell, which keeps heads cool on the hottest days.

Film producers conducted a worldwide search for a company that could replicate the kind of helmets race car drivers wore in 1957, when “Ferrari” takes place, while providing the highest level of safety and protection for actors and stunt men as well.

The story focuses on Enzo Ferrari’s auto empire, which is in financial crisis.

To rescue it, he pushes himself and drivers to the edge in hopes of capturing the Mille Miglia, a treacherous 1,000-mile race across Italy.

“We got a phone call from people involved with production of the movie early on a Monday evening,” DeVito said. “By Tuesday we had all of the parts and components put together, ready to move to Italy where they were shooting the film.

Jay took the parts, put them in baggage and flew from JFK (New York) to Milan. They picked him up on Wednesday morning and went straight into production, working on the set with the props team, making vintage helmets that you see in the movie.”

“Those are our DOT-certified helmets, modified with different paint schemes to match the museum pieces used by actual racers back in the Fifties,” he said. “The stunt men and actors really preferred our helmets. They helped them stay cool on the set and in the cars while they were shooting in the morning.”

By Friday, Kirshon was back home after a job well done, which he and DeVito credit in large

Superior Customer Service Competitive Rates Tax Filing Direct Deposit Consult Now Garnishment Services 401(k)/Simple IRA Reporting Workers' Comp "Pay by Pay"

Courtesy KIRSH Helmets

part to their employees, many of whom are military veterans.

“These are people who know how to get the job done, understand the task at hand and are able to do it in very little time,” DeVito said.

The U.S. Department of Labor has honored Kirsh Helmets four straight years with a Gold Award under its HIRE Vets Medallion Program, which recognizes firms that have a commitment to sustaining a veteran workforce.

“It helps give meaning to the work that we do well beyond just the mission of the company,” DeVito said. “And it helps engage with other veterans and veterans organizations across the country that appreciate the work we do.”

“It’s great to be part of a major motion picture and to have been selected from among all the helmet companies in the world,” he said.

“When they had to pick somebody who could do the job, provide exactly what they wanted and operate at a high level, we were able to do that and deliver in just a few days.”

DeVito and Kirshon founded KIRSH Helmets in 2017, shortly after getting acquainted at a Saturday morning RPI incubator event.

“He had just gotten his first patent issued and was talking to other entrepreneurs,” DeVito said. “I was fascinated by his work and the technology he had. It looked to be something that would really change the head protection industry. I saw his vision working in many different ways across sports and athletics, certainly in motor vehicles and motorcycles in particular, which is where his interest was.”

DeVito provides most of the business acumen, while Kirshon is the technology guru.

After studying the marketplace, they wrote a business and funding plan, set about raising capital and moved into the NYBizLab in Schenectady, which helps small and start-up companies grow.

Assembly and production facilities are in a building owned by Seeley Machine, on Big Boom Road in Queensbury.

“Now we have 14 issued patents and several provisional patents have been filed in multiple jurisdictions around the world,” DeVito said.

“In the early stages of any business you’ve got to focus, so we’ve focused on motorcycle helmets, in particular the half helmet, which is 40 percent of all the helmets bought every year.

Continued On Page 14

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Personnel Briefs Continued From Page 2

Resources Officer for its two subsidiary banks, Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company.

Yrsha joined the company in 2015 and is responsible for executive oversight of all aspects of retail banking, which includes front-line sales, retail lending, business banking and cash management. He will also oversee the Marketing and Communications Department and Wealth Management Division.

Yrsha will continue to serve as Chief Banking Officer, contributing to the Arrow Family of Companies strategic plan and the long-term direction of the company.

He is a graduate of Castleton State University and the Adirondack Regional Chamber of Commerce Leadership Class of 2013. Yrsha is active in the community and currently serves as Chair of the Adirondack Regional Chamber of Commerce.

Pancoe joined the company in 2018 and is responsible for leading all aspects of human resources operations. In her new role as Chief Human Resources Officer, she has executive oversight of the company’s human resources strategies, including organizational design and succession planning, talent acquisition and retention, performance management, professional development and compensation and benefits.

She earned a bachelor’s degree in psychology from Clark University in Worcester, Mass., and a master’s in business administration from the University at Albany.

Pancoe maintains a Professional Human Resources (PHR) designation and currently serves on the Board of United Methodist Health and Housing for The Wesley Community in Saratoga. * * * Southern Adirondack Independent Living (SAIL) has announced the appointment of three new members to its Board of Directors.

Brian S. Daniels, an ordained rabbi with over two decades of congregational experience, pursued a dual career, serving as a part-time spiritual leader and a full-time administrator for the State of New York. He earned a B.A. in political science from Binghamton University and an M.A. in Hebrew

from the Hebrew Union College-Jewish Institute of Religion, where he was ordained in 1990. In 2021, Brian retired after 16 years as Associate Commissioner at the NYS Office of Children and Family Services. In this capacity, he served as director of the NYS Commission for the Blind after nine years as its deputy director.

Nick Taylor is a graduate of Siena College, and upon graduation began his insurance and financial planning practice in Glens Falls. He is now a Certified Financial Planner and Retirement Income Certified Professional, helping clients with their individual financial needs. exclusively with his young and busy family Dave Kruczlnicki is a seasoned healthcare leader with over 35 years of experience in C-suite and governing board roles. As CEO of a hospital/ health system for 24 years, he oversaw significant growth, increasing annual revenue from $54MM to $310MM, expanding sites from six to 29, and jobs from 1,400 to 3,000. His leadership garnered numerous awards and recognitions.

His extensive leadership and governance experience includes 18 years on the Healthcare Association of New York State Board of Directors, serving as Chairman, and 17 years on the Board of Directors of a regional hospital/health system association, also as Chairman. Additionally, he spent 24 years on the Board of Directors of a New England healthcare shared-services organization, including two terms as Chairman Beyond healthcare, he serves as a Director of a $2.5 billion regional bank, chairing the Compensation Committee, and has held leadership roles in various community organizations. Since transitioning from healthcare leadership in 2013, he has advised nonprofit organizations on strategy, leadership, culture change, and performance improvement through his consulting firm, High Peaks Strategic Business Advisors A graduate of Siena College with a BA in Political Science and an MBA from Rensselaer Polytechnic Institute, he is a Life Fellow of the American College of Healthcare Executives. He is also actively involved in community service, honored with awards for his contributions to both community service and healthcare industry leadership

4 • GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024

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Center Of Businesses In Transition Matches Enterprises With Next Generation Of Owners In 2018, Saint Regis Canoe Outfitters owners Dave and Rivka Cilley reached out to the Adirondack North Country Association (ANCA) and the Saranac Lake Area Chamber of Commerce (SLACC) about a new program designed to help North Country small businesses transition to the next generation of owners. Over the course of five years, ANCA’s Center of Businesses in Transition (CBIT), would help connect the Cilleys with the right buyer, as well as a team of local providers and technical services to support them through the transition process.

With the goal of assisting more businesses like the Canoe Outfitters, which was purchased by employees Maeghan Farnham and Steve Cerri in July 2023, the CBIT partnership has announced upcoming networking and learning opportunities that aim to connect retiring business owners and prospective buyers with customized business transition support. \ “Saint Regis Canoe Outfitters’ story demonstrates the kind of time and preparation it can take to transfer an existing business to new owners,” said ANCA Executive Director Elizabeth Cooper. She said it is not uncommon to take three or more years to find a buyer, prepare financials, and transfer other management aspects of a business. “This is why the CBIT team is so eager to help small businesses work through the process. It can be time-consuming and complex, but it’s also critical for keeping our small businesses operating in our communities.”

North Country business owners who are ready to sell now or in the next several years, as well as entrepreneurs who are interested in purchasing an existing business, are invited to participate in CBIT’s programs. 2024 programming includes matchmaking events, educational workshops and opportunities to meet with any of the 20 CBIT community liaisons and partners who represent 16 organizations across ANCA’s 14-county service area.

The partnership confirmed its 2024 team at its annual retreat on January 26. Returning liaison and partner organizations include Franklin County Economic Development Corporation, Hamilton County Economic Development, Lewis County Economic Development/Naturally Lewis, LivingADK, St. Lawrence County Chamber of Commerce, Saranac Lake Area Chamber of Commerce, Ticonderoga Area Chamber of Commerce, Greater WatertownNorth Country Chamber of Commerce, Adirondack Economic Development Corp., Adirondack Park Agency Economic Services, Essex County Industrial Development Agency, SUNY Canton Small Business Development Center (SBDC) and the Ti-Alliance.

With the goal of expanding CBIT services to more North Country communities, CBIT welcomed two new liaisons who are based in New York’s Mohawk Valley: Denise Cavanaugh of the Herkimer County Chamber of Commerce and Heather Devitt of Mohawk Valley Economic Development District, Inc. (MVEDD).

The inclusion of these two organizations is supported by a grant from the Community Foundation of Herkimer and Oneida Counties.

The program’s reach has also been expanded with the addition of Robert Griffin of the Onondaga SBDC at Onondaga Community College to the partnership.

“This is a big step for CBIT to reach an additional six counties located on the fringe or border of the Adirondack Park,” said Dan Kieferbach, Director of Community Engagement at LivingADK, a nonprofit that serves communities in the Western Central Adirondack region.

Kieferbach has been a CBIT community liaison since 2023. “We are excited to see this program enter new territory and look forward to strengthening our partnerships as the program continues to grow.”

Scheduled upcoming virtual events include an online “Matchmaking Event for Buyers and Sellers” on Friday, March 1 at 3:30-5:30 p.m.

The events are supported by funding from Community Bank.

The CBIT partnership is focused on four main goals for the new year: expanding opportunities for aspiring entrepreneurs to visit the region through its Familiarization Tour Program; enhancing the experience of aspiring entrepreneurs who engage with the Center; measuring the program’s economic impact on local communities and the broader North Country region; and preparing for the 2025 Small Communities. Big Opportunities Conference, a two-day gathering that focuses on matchmaking, networking and sharing business transition information and resources.

Since 2019, CBIT has supported over 250 owners preparing for retirement or other life changes and engaged over 120 individuals interested in owning a business in the region. The partnership supported successful ownership transitions at 63 North Country businesses, which retain local jobs as well as key products and services that enhance quality of life in their rural communities. Business transition success stories are shared in CBIT’s Five-Year Case Study, which can be viewed on the Center’s website.

“Even the smallest of these businesses have a big impact on the overall economic health of our region,” said ANCA Entrepreneurial Economy Program Director Danielle Delaini. “Each shop, each restaurant, each service provider — they serve local needs and bring diversity and vibrancy to their communities. Our 2024 team is extremely knowledgeable about their local areas and passionate about CBIT’s mission. We are all eager to support more North Country businesses with the connections and resources they need to successfully move on to the next generation.”

In addition to St. Regis Canoe Outfitters in Saranac Lake, other business transitions that were recently supported by CBIT include My Hope Flower Farm in Ticonderoga, N.Y., Nature’s Storehouse in Canton, N.Y., Crave Diner and Vanilla Bean Bake Shop (formerly Gary’s Restaurant) in Lowville, N.Y., and Adirondack Awards & Promotions in Lake Placid, N.Y. CBIT launched in 2018 with grant funding from the Northern Border Regional Commission (NBRC) and has since been supported by funding from the United States Department of Agriculture Rural Community Development Initiative, National Grid’s Project C, Franklin County Government Office of Economic Development, Adirondack Foundation and local business sponsors. For more information about CBIT and its programs, visit www.adirondack. org/center-for-businesses-in-transition or contact transitions@adirondack.org.

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Weekend Hotels Continued From Page 1

said. “So that was a big calculated risk. It was a very steep learning curve. The first few years were tough.

But we started to get into a cadence and a groove and ended up winning a ton of awards for best resort in the Adirondacks. It was a cool success story in the end.”

In 2020, they acquired Alpine Lodge near Gore Mountain in North Creek, followed a year later by the Placid Bay Hotel, which looks out at Whiteface Mountain, on Lake Placid. In March 2021, they officially launched Weekender Hotels to brand all three sites together.

In 2022, Weimer bought out his partners and launched out on his own.

The company also has resorts now in Manchester, Vt.; New Hampshire’s Monadnock Region; and last fall it opened the Trailhead (formerly Shaheens) in Tupper Lake and a second Lake Placid hotel, Town House, just down the road from Placid Bay. “We fully renovate every property we acquire,” Weimer said.

But his rise up the business ladder didn’t begin until first hitting rock bottom in a very deep, dark place. In 2007, Weimer was sent to state prison after pleading guilty to vehicular manslaughter for driving a boat while intoxicated on Fourth Lake, and causing a crash that killed a 20-year-old Syracuse woman and injuring several others.

By not going to trial and causing victims more heartache, what could have been a very long sentence was reduced to 2 to 6 years.

Weimer was released in 2012, several months shy of his 30th birthday. He went home to live with his parents in Syracuse, on parole with no money and no apparent future.

“I thought, How am I going to rebuild a life and be something other than that kid who got into that horrible accident?” Weimer said.

He had studied business entrepreneurship at Syracuse University, but seven graduate schools rejected him before he got accepted to New York University and studied part time, while working, to earn a master’s degree in real estate finance.

In 2013 he moved to Saratoga Springs and became an agent for Sotheby’s International Realty. “That first year was hard, I didn’t make one dollar, not one sale, went $40,000 into debt and hit one more wall after another,” Weimer said. “I wasn’t seeing any light at the end of the tunnel.”

Finally, he achieved his first sale and began focusing on unique properties throughout the Adirondacks

where family and friends advised him not to go. “I went right back to where the accident happened to see if people would give me a second chance,” Weimer said.

“Luckily, enough of them did.”

His comeback story is also “A Quest for Redemption,” the title of a book he authored while in prison.

All proceeds go to Students Against Drunk Driving (SADD) and the Make-A-Wish Foundation.

Nine years after the accident, Weimer and the deceased woman’s mother met and reconciled, and began visiting schools together to talk about the dangers of alcohol.

Weimer can’t undo the past.

More than just a business, where the bottom line is all that counts, with Weekender Hotels he wants to “feel I truly am making a difference, very aligned with personal values and have a contribution in the world.”

He’s constantly on the lookout for small- to medium-sized hotels with 25 to 35 rooms, which are easier to maintain and manage.

Last summer, Great Pines was mentioned prominently in a New York Times article about the challenges hotels and resorts are faced with, in regard to finding seasonal help.

Each hotel is open year round.

“It is tough to find and keep people for hourly jobs in some of these places,” Weimer said. “It’s gotten harder since COVID.” Lake Placid, the “Winter Sports Capital of the World,” has no trouble attracting guests at all times of year. The company website directs people to a wide range of firms that help people enjoy outdoor activities, at each location.

“People can go sailing on Lake Champlain, ice fishing on Tupper Lake, skiing at Whiteface, see how to rent snowmobiles or go mountain biking,” Weimer said. “As interest rates are improving we plan to acquire three to four more properties, which would give us 11 or 12 by the end of this year.”

He declined to cite specifics, but said he expects to close on a Saratoga Springs property in the near future, followed by the Catskills, northern Vermont and northern New Hampshire near Attitash Mountain Resort.

“For now we’re staying focused on markets we know well, that’s New York and New England,” Weimer said. “We’re looking to grow in the Hudson Valley, the Berkshires and the Finger Lakes makes sense, too.”

“Then we plan to take the brand to other parts of the U.S., down the Eastern Seaboard to the Smoky Mountains in North Carolina and Tennessee,” he said.

“Eventually, I really want to take the brand out west to the Rockies, but we’re probably going to wait a few years to do that.”

Pioneer Bank Names Jenifer Marten as Vice President And Business Banking Team Leader Pioneer Bank, announced the appointment of Jenifer Marten as Vice President and Business Banking Team Leader. A local and regional commercial banking executive with more than 20 years of leadership experience, she will spearhead Pioneer’s efforts to develop and grow commercial business relationships, including overseeing a strengthened strategic approach to meeting the financial needs of community businesses.

In her new role, Marten will guide an enhanced go-to-market strategy focused on improving and expanding access for Pioneer’s local business customers to critical financial resources. From expediting loan review processes to increasing the authority of branch offices to approve loans, Pioneer is deepening its commitment to supporting the growth of regional businesses and the Capital Region economy.

“We’re thrilled to welcome Jenifer to Pioneer, where she will play a vital role in supporting and growing our commercial banking portfolio,” said Pioneer Executive Vice President and Chief Banking Officer Jesse Tomczak. “With decades of expertise and experience, and deep roots in the Capital Region, Jenifer is the ideal leader as we seek to increase efficiency and productivity, build connectivity within our branches and the community, and enrich commercial lending and overall financial support to our local businesses.”

Marten most recently served as Vice President and Commercial Relationship Manager at Saratoga National Bank, where she managed a growing and complex commercial portfolio. Prior to that, she held roles as Commercial Relationship Manager at Ballston Spa National Bank, Key Center Team Leader at KeyBank, and Assistant Branch Manager at First National Bank of Scotia.

“I’m excited to join the exceptional team at Pioneer, which is deeply committed to

Jenifer Marten, Vice President and Business Banking Team Leader at Pioneer Bank.

Courtesy Pioneer Bank

supporting the success of our customers and community,” said Marten. “With business-friendly approaches to serving the financial needs of our commercial clients, along with impeccable customer service, we are dedicated to building stronger businesses and a more vibrant region.”

Marten is a graduate of Siena College, where she earned her bachelor’s degree in marketing and management. She has been extremely active in the community, serving as member and chair of the board of directors of the Southern Saratoga County Chamber of Commerce; member of the board of directors of the Mechanicville Community Center; and member of the Ellis Foundation and Women’s Day Out Committee, among others For more information visit http://www. pioneerny.com/.

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6 • GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024

SPECIAL SECTION

GLENS FALLS BUSINESS JOURNAL

Office / HR / Employment •

Business Report Managing the Multigeneration Workforce

BY ROSE MILLER Many managers are finding it difficult to manage today’s multigenerational workforce. It is becoming clear that younger employees express themselves differently from older employees. As a person in the Boomer category, I struggle too. I’ve had to learn to adapt management strategies to fit the various generations, who work, think, train, and communicate differently.

The workplace is more multigenerational than ever before. It’s not unusual to find employees over 60 working alongside 20-year-olds, and it’s possible to find recent college graduates supervising employees old enough to be their parents.

The primary generations in workplaces today are Baby Boomers (born between 1946-1964), Generation Xers (born between 1965-1980), and Millennials (born between 1981-2000), with members of Generation Z (born from 1997-on) quickly filling a larger share of job vacancies.

The competitiveness of Boomers and the egocentric approach of Gen Xers are causing friction with the younger generations. Layer on a company’s need to preserve institutional knowledge, and it’s critical that older managers begin to transfer knowledge to the younger generations.

Although we should be mindful to avoid stereotypes or try to paint with too broad a brush, there are certain tendencies that a group will commonly identify with. As a group, each generation has different values, attitudes, expectations, needs and motivators. Managers are dealing with employees with shifting views towards job satisfaction, which is tethered to employee retention.

Boomers tend to be characteristically hardworking, loyal to company and career, respectful of hierarchy, and enjoy face-to- face meetings. They value security, stability, and structure. Problem: They have trouble letting go of power.

Generation X are characteristically independent, fast learners who are impulsive yet practical, flexible, creative, self-reliant, and cynical. They value work/life balance, a casual and friendly

Glens Falls-Based Executive Search Firm Places Qualified Candidates In Medical Fields •

Rose Miller is the president of Suite Advice, LLC. Courtesy Suite Advice LLC

workplace, flexibility and freedom, feedback, diversity, and independence. Problem: They don’t like being told what to do.

Millennials are generationally known as digital natives, who are confident, enjoy variety, crave instant gratification, and are often team-oriented multi-taskers. They value separation of work and life, structured and supportive workplaces, flexibility, challenging and meaningful work, diversity, and constant communication. Problem: They challenge work structures that don’t align with their values.

Gen Z’s are characterized as digital or technical natives with higher global awareness who use everything with a device, enjoy highly engaged managers, crave continuous feedback, and prefer text for instant communication. They value separation of work and life, workplace flexibility, environmental concerns challenging and meaningful work, diversity, and constant commuContinued On Page 7

BY SUSAN ELISE CAMPBELL John Harvey, the founder and owner of the one-man search firm, High Peaks Executive Search, LLC, hunts for the world’s top scientists and executive talent in the pharmaceutical, medical device and biotech industries like a miner digs for gems.

And just as striking a vein in the rock can lead to a valuable find, Harvey’s disciplined networking approach leads to a cache of candidates who are the most accomplished in their fields.

“These are doctors and scientists who are finding cures and saving lives,” said Harvey. “Most recruiting is in research and development, and the manufacturing of drugs and medical devices for pre-clinic and clinical research and for commercial products.”

Harvey started the company in 2017 after having been a recruiter for two large pharmaceutical search firms. His career prior was as director of human resources for Native Textiles when it was in Glens Falls, which remains home to a number of companies serving the three growing industries for which Harvey recruits.

“I came up through the HR field, so I have recruited for sales and human resources positions as well as for scientists throughout my career,” he said.

Success as a recruiter in this niche depends on identifying candidates with a narrow skill set, and that requires “a lot of hard work and networking,” said Harvey.

“When you narrow down the candidates you may find there are only 20 or 30 people in the world for the job,” he said. “Then I might have to convince them to relocate.”

To date he has convinced more than 300 to make such a change to executive positions around the U.S., Canada and Europe.

“I never placed a candidate that the company didn’t like or that was let go,” said Harvey.

People in Glens Falls do not switch jobs as often as in the pharmaceutical hubs of San Diego, Philadelphia, Boston and other cities where competition is very high, he said. But there has been increased turnover in the industry in the past 10 years.

“There was more stability a decade ago when people stayed with one or two com-

John Harvey is the founder and owner of High Peaks Executive Search, LLC. Courtesy High Peaks Executive Search

panies their whole career,” Harvey said.

“People are jumping jobs all the time now.”

Harvey cited several reasons for the change, including “more of an acceptance for that.”

“In the old days, if you saw someone switching jobs every few years that would be a red f lag,” he said. “Today you think it’s pretty good that a person stayed at a company four whole years.”

Also, he said, the biotech industry in particular is very risky. The drugs being developed may fail in clinical trials and the whole company could go under, driving more scientists and upper level professionals back into the work force.

“The size of the company, whether they are private or public, their fundraising, are all factors,” he said. “But more importantly, the economy isn’t good now.

“There is a lot of restructuring going on and many of the bigger companies are letting a lot of people go,” said Harvey.

High Peaks Executive Search is hired to fill the most senior level positions. Harvey said his clients want him “to dig and come up with a slate of candidates.”

“If I gave them three perfect candidates, Continued On Page 7

GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024 • 7

The Remote Working Option Is Becoming A Thing Of The Past For Employees In Region

BY SUSAN ELISE CAMPBELL If executive recruiter Renee Walrath has one mission for her business and her clients, it may be “helping people and their families.”

As top-level and mid-level executives and managers move from position to position, Walrath said she and her staff of nine at Walrath Recruiting, Inc. are “dedicated to the perfect fit” as they connect companies and candidates.

The pandemic touched the executive search industry like every other. Employees quickly moved to their homes in great numbers and then slowly have been called back. Now an individual may want to work remote, but the positions are no longer out there, according to Walrath.

“I have no one-hundred-percent remote job openings in the Capital District,” she said.

Last year, in 2023, a “big chunk of organizations made the move back to their offices,” said Walrath. “Now our fi rm gets calls that ‘my company is calling me back in, but they are out of California or in Boston.’”

“They say, ‘we moved here to New York, like it here, and want to stay here,’” she said.

Only one of her client companies offers working at home full time, but the individual “has to live near headquarters in New Hampshire just in case,” she said.

Hybrid situations may allow some to work at home and at the office for portions of the week.

“But certain positions need to be in the office, and it seems people always want what they can’t have,” said Walrath. “Where an individual may work is now an important factor in our recruiting.”

“Candidates have to understand at the onset that although we know what their expectations are, they are not going to fi nd remote jobs here in the Albany and Saratoga area unless their field is technology,” she said.

Each individual in Walrath’s team is dedicated to a specific industry. The fi rm covers attorneys and paralegals, manufacturing and construction, accounting and fi nance, technology, healthcare, logistics, and more.

The majority of placements are mid-level and contingency-based but for her market, C-level executive searches, Walrath works primarily on retainer. Related services she offers include resumé writing, compensation analysis, outplacement for those laid off, and helping client fi rms identify individuals to promote from within.

One challenge for the team is that headquarters or the human resources personnel the recruiters work with may be out of the area and therefore have no presence at the facility in this community, she said.

“It falls on us to get to know the local general manager and the particular hiring manager and to work closely with them,” Walrath said. “The hiring agreement will be with corporate, but mainly the relationship is where the new hire will be sitting.”

Her recruiters obtain the job description, benefits and salary range before visiting headquarters in person to get to know the client’s needs and corporate culture, she said.

That understanding informs whether Candidate A or Candidate B will be the better fit, she said, giving the example of an assignment to locate a potential new controller.

“One controller is looking for an opportunity to work directly under the CFO in order to be mentored by them,” she said. “Another

Renee A. Walrath is the president of Walrath Recruiting Inc. Courtesy Walrath Recruiting Inc.

may be ready for the next step, reporting to the president or owner with a few people under them.”

“Recruiting is like putting together a jigsaw puzzle,” she said. “It’s understanding the company and the candidate that leads to successful connections.”

The process is not always the same for every circumstance, but Walrath said her team adapts for the market, the economy and changing legislation.

A new New York State law enacted two years ago and implemented as of last year is having a huge and positive impact on employees, Walrath said..

Compensation transparency disallows asking an employee their current salary, she said. Job postings and advertisements now post a salary range. Th is makes it difficult or employers to discriminate on the basis of salary.

“Prior to 2022 it was an employee market and companies were bringing in new people at a higher salary than those who had been doing the same job for years,” said Walrath.

That could be $10,000 more on an average $90,000 job, she said. Addressing wage discrepancies head-on is good for all.

“Employees never used to disclose salaries, but they do now because they can,” she said.

Walrath said one goal for her company at this time is to add to her team “without getting too big.”

“We have sales goals and professional goals,” she said. “We are all educated and knowledgeable and are certified with the Society for Human Resources Management.”

Walrath Recruiting, Inc. is a state certified woman-owned business that was ranked #1 for executive search fi rms by Albany Business Review in five of the ten years since 2014. It has consistently been ranked in the top five since 2012 by the same publication.

“We want to help client companies brand their businesses and help organizations grow,” said Walrath.

“My work is defi nitely gratifying,” she said.

“It is interesting to follow our success stories and see where our placements are today.”

There are two offices, at 3 Winners Circle in Albany and 511 Broadway in Saratoga Springs. For more information, email Renee Walrath at jobs@walrathrecruiting.com.

Multigeneration Workforce Continued From Page 6

nication. Problem: They are impatient when things don’t move quickly enough.

The best practice is to learn to understand the different generational characteristics, motivators, and values and overcome communication barriers. A manager recently told me he was having a particular problem with communication. He was trying to talk to an employee who was failing in the performance of tasks outlined in the job description. The Millennial employee responded with, “You are not talking to me in a way that I can process.” Fortunately, the Boomer manager didn’t act on his first impulse, which was to say, “Process this- you’re fired.”

Managers are struggling the most with managing Millennials and Gen Z. Some insights are: • Millennials need a mentoring system.

Pairing Millennials with older generations can strengthen cohesiveness and collaboration. They need to know their career paths and how to advance. Impose structure and stability, cultivate teams, and help them develop problem-solving skills. Teach effective communication skills using conventions other than just text.

• Provide Gen Z with interesting experiences that allow for professional growth. Provide plenty of online learning. Provide clear feedback often, demonstrating how work aligns with their personal values.

• With both Millennials and Gen Z, back up work-life balance policies with reality. A Millen-

nial director just told me a story of when she asked her boss to add staff. The senior manager told her that the expectation is to work 50–60-hour weeks.

The director had to remind the senior manager that one of the reasons she took the job was the company’s commitment to work-life balance.

The workforce will continue to be multigenerational as older workers postpone retirement and more Generation Zers enter the workplace. It is unwise to ignore generational differences. Good management of generations can preserve critical institutional knowledge by ensuring knowledge is transferred to younger generations. To bridge generational gaps, managers need to learn how they all work, think, train, and communicate.

Here’s your tip sheet: Generally speaking, Baby Boomers prefer face-to-face meetings; Gen Xers dislike meetings and prefer email; and Millennials and Generation Zers like texting and some face time with the boss.

Clarity is critical. Managers can’t assume younger workers understand how to navigate the corporate world. They may lack basic knowledge about work hours, work locations, dress code, technology usage, and ways to communicate.

No single management style is perfect for any generation because there are also individual personality types. While there is no one-size-fits-all approach, some best practices can help managers adapt and learn strategies that leverage everyone’s strengths.

Qualified Candidates Continued From Page 6

they interviewed all three and picked the best one of the three, that would be an ideal world. But it’s not,” Harvey said. “I may contact a couple hundred people, get a dozen resumes, interview the top eight and submit five or six.”

“It’s a complex process and very hard work,” he said. “But companies retain me because despite a poor economy, there is a low supply of skilled candidates for the type of positions they need to fill.”

Harvey said that for local businesses in the medical field he is compensated on a contingency basis rather than placing them on retainer. He also said that he has filled and may be open to searches for mid-level positions as well, where there are “many candidates out there to sift through.”

To make a good match, Harvey said he vets candidates very carefully, obtaining names through his network. Often a referral comes through someone he already knows or from a past candidate, he said.

“Before I even talk to the person I reference very thoroughly and ask my contact, why are they so good,” he said.

He also relies on the professional advice of Peter Benoit, a former head of HR at Delcath Systems in Glens Falls and who has been a mentor to Harvey.

“Personnel issues can be very complex and I have someone to bounce ideas off of when evaluating or negotiating a job offer,” he said. “He helps me be a better recruiter.”

Harvey said he used to enjoy traveling anywhere in the world to meet every candidate and sitting with them over a meal to get to know the person well. Since Covid, all interviews start with a Zoom interview.

“In-person interviewing has really gone by the wayside unless the candidate is local,” he said. “Video conferencing is easy and more effective than a phone call, and it hasn’t hurt my business.”

Through the process Harvey gets a glimpse into the science of oncology drugs or the medical devices his clients are researching or manufacturing.

“It’s all about asking questions,” he said.

“I understand the job functions very well, but I’m not a scientist.”

There are large recruiting firms working on contingency that can be deemed as competition for Harvey, but he said “it would be rare” to find someone like him who specializes in all three industries: pharmaceutical, medical devices and biotech.

High Peaks may refer to the professional aspirations of the C-level personnel and directors Harvey places, but the name of his company holds another meaning for its founder. Harvey is an Adirondack 46er having summited all 46 New York Adirondack High Peaks over 4,000 feet during the summer months. He is currently working on his Winter 46.

More information is available at www. highpeakssearch.com.

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8 • GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024

SPECIAL SECTION

GLENS FALLS BUSINESS JOURNAL

Legal / Accounting

CPA Paul Dowen Works To Ensure His Clients Get Maximum Benefit From Their Businesses

BY SUSAN ELISE CAMPBELL Accounting firms country-wide are having as much trouble as other businesses finding enough people to hire, according to Paul Dowen, CPA, a principal of Whittemore, Dowen & Ricciardelli, LLP. WDR is headquartered in Queensbury and provides accounting, advisory and tax services primarily for small businesses.

“Even the IRS can’t find enough people to help resolve tax issues,” said Dowen.

“You can rarely get someone to answer the telephone.”

One reason for the shortage of qualified accountants may be the five years or 150 credit hours it takes to earn the degree.

“College students weighing their options wonder if they really want to take on an extra year of schooling and the extra debt,” he said.

For the last three years, the Covid years, Dowen and his associates have had to turn down income tax preparation for individuals, referring them and some smaller businesses who were not already clients “to the big box companies.”

“We’ve had to be selective, which we never had to do before,” he said. “We would be forced to raise our fees to price out those smaller returns, even though we would like to help them out.”

The client base at WDR is primarily businesses ranging from $250,000 to $2.5 million in gross receipts. Dowen said his firm wants to know each client well, “not just crank out tax returns.”

“It comes down to the relationship,” he said. “I want to know who you are, what are your life goals. Do you want to get ready to retire, sell your business or turn it over to family members?”

“I want the relationship for your lifetime, and I want to make sure you’re making money,” he said. “Not all accountants take the time to build that relationship.”

Once a company tax return is filed Dowen said he can analyze why a client may not be making the profits they expect and “see how we can get this fixed or

•

Business Report

•

Navigating The Corporate Transparency Act

Paul Dowen is a principal of Whittemore, Dowen & Ricciardelli, LLP. Courtesy of Whittemore, Dowen & Ricciardelli, LLP

increase improvements.”

“But if our practice is short on staff, these are the kinds of things I don’t get to, and I don’t like that,” he said.

The bottom line on the advisory side of an accounting firm is to not only help a business grow but also reduce the taxes it pays, for which there are different acceptable methodologies and approaches the professional recommends. Expensing versus depreciation is one area where advisor and client may not be on the same page, Dowen said.

“I always tell people, if you didn’t owe money on your tax return, this means you didn’t grow your business this year,” he said.

Profits can be legally reduced or eliminated using Section 179 expensing or bonus depreciation on qualified equipment. Dowen said he may recommend depreciating those items over a period of time if the client believes the business is going to be making more money in future years.

“Businesses pay typically 40 to 45 cents on the dollar between federal, state, social security and other taxes,” he said.

Continued On Page 9

LOCAL LEADING OFFICE TECHNOLOGY PROVIDER SINCE 1994

BY CHRISTINE E. TAYLOR, ESQ. As of January 1, 2024, businesses across the United States are now burdened with an additional filing obligation due to the implementation of the Corporate Transparency Act (CTA). This legislation mandates that businesses not subject to an exemption must file a Beneficial Ownership Information Report (BOIR) with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).

Understanding the Reporting Timeline; For businesses in existence before January 1, 2024, the clock is ticking as they must file their BOIR by January 1, 2025. Meanwhile, new entities created or registered in 2024 or later only have a 90-day window to submit the report to FinCEN. Businesses should not wait; there is an urgent need for businesses to familiarize themselves with the requirements imposed by the CTA and act promptly to ensure compliance.

Applicability For Business Entities The CTA casts its regulatory net wide, applying to both limited liability companies and corporations throughout the U.S. Regardless of size or industry, companies falling within these categories are obligated to adhere to the reporting requirements set forth by the legislation.

The CTA provides 23 exemptions from reporting requirements. Companies meeting any of these exemptions are relieved from the obligation to submit a BOIR to the CTA, offering a degree of f lexibility within the regulatory framework. Exempt entities include investment companies, banks, insurance companies, tax-exempt entities, large operating companies, and more. Large operating companies are classified based on three criteria: having over 20 full-time employees in the United States, maintaining a physical office in the U.S., and filing a federal income tax return or information return in the U.S. for the preceding year, showcasing gross receipts or sales exceeding $5 million, excluding those from sources outside the United States.

For a full list of the exemptions, please visit: https://www.fincen.gov/boi/smallentity-compliance-guide What Information Must be Disclosed?

Christine E. Taylor, Esq. is an attorney with The Towne Law Firm, PC. Courtesy of The Towne Lsw Firm, PC

Under the CTA, companies must fill out the report denoting specific information to FinCEN, including its legal name and current U.S. address. For foreign-based companies, this address may represent their U.S. operational location. Additionally, businesses are required to provide a taxpayer identification number and specify the jurisdiction where they were formed or registered.

For businesses established post-January 1, 2024, the reporting mandate extends to information about the business itself, its beneficial owners, and company applicants. This encompasses comprehensive data such as names, addresses, birthdays, identification numbers (e.g., license or passport number), and the jurisdiction of relevant documents. However, businesses established before this date are exempt from disclosing information regarding company applicants but still required to provide the required information about its beneficial owner(s), which includes similar data as what is required for company applicant(s). Note: this is the government’s movement towards businesses being more ‘transparent’ about ownership.

Who’s a “Beneficial Owner”?

Defining “Beneficial Owner” is instrumental to your reporting obligation. A “Beneficial Owner” is an individual who Continued On Page 9

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GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024 • 9

Business Valuation And Fraud Detection Services Provided By Forensic Accountants

BY CHRISTINE GRAF Of the approximately 675,000 CPA’s in the United States, less than one percent are certified to practice as forensic accountants. In addition to investigating financial crimes, forensic accountants work with companies to develop internal controls intended to prevent and detect these types of crimes.

While many business owners believe that it is the job of internal or external auditors to detect financial crimes, that is not the case. The job of an auditor is to ensure that a company is adhering to generally accepted accounting principles (GAAP), the default accounting standard used by companies based in the United States.

The savings and loan scandal of the 1980s and 1990s was a driving force behind the creation of the field of forensic accounting, but it was Internal Revenue Service CPA Frank Wilson who is considered the father of forensic accounting.

In 1930, after reviewing more than two million documents, Wilson found evidence that notorious mobster Al Capone has committed tax fraud.

The following year, after being found guilty, Capone was sentenced to 11 years in prison.

During the past decade, the field has evolved, with firms specializing in forensic accounting opening their doors throughout the country. One of these firms, FAZ Forensics, is located at 268 Broadway in Saratoga Springs.

“We specialize in forensic accounting and valuation work mostly in a litigation environment,” said partner Stephen Ferraro. “We’ve all done traditional accounting and tax work, but now we focus 100 percent in this area.”

FAZ Forensics was founded seven years ago after two CPA firms that had merged decided to split.

“When that happened, our forensic group went independent,” he said. “At the time, there were six of us who spun off and started FAZ, and we currently have 16 people.”

According to Ferraro, he and some of his colleagues have been practicing forensic accounting for decades, long before the field even had a name.

“We kind of fell into it about 30 years ago. We were doing mostly traditional CPA work, and we got a call from a claims adjustor who was working with a local automobile dealership that had had a fire. He had to help the owners of the company determine what their lost profits might be.”

By reviewing the dealership’s financial statements, they were able to come up with an estimated value of what the company’s profits would have been had it not been for the fire.

“After that, we started doing insurance loss accounting, which is a piece of forensic accounting,” said Ferraro. “So, we were doing forensic accounting before we even knew what forensic accounting was.”

Although most people think of forensic accounting in terms of fraud detection, Ferraro said the field itself is much broader.

“There are several specialties within forensic accounting that we work on. Investigating fraud

Stephen Ferraro is a partner with FAZ Forensics.

Courtesy FAZ Forensic

and embezzlement is one piece of that. A lot of the work that we do is in litigation.”

FAZ Forensics works with attorneys on a wide variety of cases involving financial disputes. For example, in cases related to matrimonial disputes, they may be asked to look for hidden assets or to value businesses that need to be divided.

“We work on any cases where there is any kind of financial dispute at all. When there is any contention over money, we’ll get called in to help settle the issue,” said Ferraro.

According to Ferraro, there are two components to the firm’s work.

“It’s mostly reactive—reacting to some type of financial concern, but we also have a proactive piece to our business, which is fraud prevention. We make sure that there are internal controls within a business so that fraud is not perpetrated. It’s hard to perpetrate fraud when you have good segregation of duties and other internal controls in place.”

FAZ Forensics also works on business valuations for non-litigation purposes.

“We also value businesses for trust and estate gifting purposes as well as exit plans,” he said. “If someone is looking at the next chapter of their life and they own a privately-held business, that is typically their largest asset. We can come in and help determine what the business is worth and explore options of how best to transition to their next chapter.”

Demand for the firm’s services continues to increase, prompting FAZ Forensics to open a small office in Boston.

“It’s a very specialized niche, and there’s not a lot of competition in our space,” said Ferraro.

“We’ve got some fairly aggressive expansion plans. We want to continue to grow, and we are looking to replicate what we’ve done in Boston and New York City as well as Washington D.C.” For more information, visit fazforensics. com.

Maximum Benefit Continued From Page 8

“Making 50 cents or more is still better than making nothing. But some want zero tax liability now.”

Some businesses will purchase new equipment and write off the entire cost as a Section 179 expense for that purpose, which Dowen said “may not be the best move.”

“The idea is to pay the least amount of tax that you can over time,” he said. “So maybe we write off half of it now and the other half over five years, so that you’re paying some tax but at a lower average rate.”

Dowen said an additional $100,000 of profits the next year would be taxed at 22 percent or even 37 percent, whereas profits could have been reduced by using an applicable depreciation formula on that equipment, he said. Recommendations such as this help “smooth out” the company’s tax liability but the decision is dependent on the business owner’s view of future profit levels.

“We don’t want our clients to cost themselves money in the long run by pushing themselves into higher tax brackets,” he said.

Like a coach, Dowen encourages clients to ask themselves in the everyday course of their business if they are maximizing

sales and minimizing the costs they can incur to order to make a profit, he said.

That may mean looking at where products are purchased, if they are negotiating the best price, and whether their marketing maximizes where they can sell to, he said.

“I’m not an expert in my clients’ businesses. They are,” he said. “But I can help them analyze the things that I see based on my other clients and what they’re doing.”

Dowen used the example of a restaurant business.

“We have the ability to look at our restaurant clientele to see what their food and beverage costs are and see if this business is on the norm,” he said. “There are also published industry standards to compare their average costs.”

If his client’s costs are higher on a percentage basis, Dowen wants to know why.

“I just want to guide them, and that’s what about 50 percent of my clients want,” he said. “That’s the kind of client we want.”

WDR conducted their annual tax seminar on Saturday January 28th, at which Dowen explained a new reporting requirement that affects nearly every business.

Transparency Act Continued From Page 8

either has substantial managerial control over a Reporting Company or directly or indirectly owns over 25% of the ownership interests of a Reporting Company. There can be more than one and if so, that information should be disclosed in the report.

Who’s a “Company Applicant”?

A “Company Applicant” is an individual who filed the initial creation documents for a domestic reporting company or filed the documents for a foreign reporting company to do business in the United States. Again, information about company applicants is only required for companies that were created before January 1, 2024.

Updates or Inaccuracies from Initial Filing If there are any changes or updates to the information filed previously to FinCEN, reporting companies have 30 days to submit an updated report. Additionally, if any information filed previously is discovered by a reporting company to be inaccurate, there is only a 14-day window for the reporting company to submit a corrected report after the date when the

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10 • GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024

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Construction Planning Munter Enterprises Is Currently Busy With A Second Generation At Hilltop Construction Variety Of Industrial And Commercial Projects Delivering Quality Building Services

A Munter Enterprises construction crew sets a Zinter Handling top-running girder crane at Espey Manufacturing in Saratoga Springs.

BY CHRISTINE GRAF Middle Grove-based Munter Enterprises, a construction and real estate development company that recently celebrated its 50th anniversary, continues to experience high demand for their services. The familyowned business offers design-build and general contracting services to commercial and industrial clients, providing them with comprehensive guidance through all stages of construction.

“We’re seeing a lot of activity in terms of our manufacturing clients that are needing to expand and build. This is good news because that means more jobs, and these local manufacturing jobs are vitally important to keep our economy strong,” said Michael Munter, vice president of Munter Enterprises.

The company has numerous projects in the works including two at the WJ Grande Industrial Park in the City of Saratoga Springs. Within the park, they are constructing a 50,000-square-foot building for Soleno, a Canadian company

Courtesy Munter Enterprises

that manufactures drainage pipe used for storm water management. For Soleno, it will be their first U.S. manufacturing facility. The company has announced that they will consider adding a 25,000-squarefoot expansion to the building in the coming years if demand for their product continues to rise.

Their second industrial park project is a 30,000-square-foot expansion to a building Munter Enterprises originally designed and constructed for AgroChem in 2015. AgroChem produces advanced chemical solutions that help dairy farmer produce high-quality milk with maximum efficiency.

Both projects will be completed before the end of the year.

Munter Enterprises is also building a 25,000-square-foot building for Espey Manufacturing & Electronics in Saratoga Springs. Espey designs and manufactures specialized parts used on ships, armored vehicles and locomotives for the military, Continued On Page 13

Drive Garvey’s Hyundai dealership on Dix Avenue in Queensbury underwent a $4 million expansion done by Hilltop Construction.

BY ROD BACON When Tom and Cindy Albrecht founded Hilltop Construction in 1975, Tom was a one-man crew. Forty-nine years later the company boasts 36 skilled craftsmen and covers an area that stretches from Malta to Keene, New York.

“We’re in a unique region where the construction industry is doing really well,” said Dan Washburn, vice president of commercial operations. “We have found our niche and continue to grow each year.”

One reason for the company’s success, said Washburn, is that they have built up a loyal clientele that knows their projects will be done on time, on budget, and with quality workmanship.

The Design/Build firm does both residential and commercial projects.

“We don’t do tract homes,” said Washburn. “Our projects are custom designed and built.”

On the residential side the company has built custom homes costing $1 million and up in Brant Lake, Lake George, and Keen.

Tom Albrecht Jr, vice president of residential operations, took drafting classes at SUNY Adirondack before joining the team to run the residential division. In this role he spends much of his time meeting with engineers, architects, and customers to ensure projects go smoothly. During his tenure the company has completed new home construction, additions, exterior renovations, historical renovations, kitchen and bath remodeling, basement finishing, and custom decks.

Washburn guides the team in its commercial operations. He started working construction in 1995, joining Hilltop three

Mary Longley 131 River Street Hudson Falls, NY 12839

518-744-7791

Courtesy Hilltop Construction

years later. After a stint in central Ohio to pursue a career in HVAC he returned to New York and rejoined Hilltop, becoming a principal owner in 2006. In this role he helped the company target more commercial projects. Some of these include Oscar’s Smokehouse in Warrensburg; Davidson Brothers Brewpub in Glens Falls; Glens Falls National Bank; the Keene Library; Martha’s Dandee Creme; the Kingsbury Fire Station; a ZZ gas station in Malta; a bathhouse at the Lake George RV Park; and Stewart’s Shops, for whom they have completed 127 projects and there are more in the planning stages. They are an agent for Kirby Building Systems and used this pre-engineered technology to erect a showroom for Garvey Hyundai. And of course when they decided to build a new 10,000-square-foot office and shop for the company in August of 2023 it was Hilltop employees who did the work.

In spite of a slowdown during COVID and a challenging economy currently, Washburn said they are extremely fortunate. He noted that while the economy is “not great,” the region is doing better than elsewhere in the country and he is anticipating a strong year in 2024.

He also noted that while there is a significant labor shortage, Hilltop’s crew is stable.

“Many of our team members have been with us for decades,” he said. “That speaks volumes about their dedication and work ethic.”

He admits that Hilltop is not immune from the labor shortage issue.

“We could use four or five new crew Continued On Page 15

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GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024 • 11

Despite Struggling With Labor Shortages F. H. Alexander Company Will Travel Far Northern Mechanical Offers Quality Service Afield To Deliver Quality Services To Clients

Northern Mechanical Services, Inc. has provided HVAC services to residential and commercial customers since 1992.

BY CHRISTINE GRAF Queensbury-based Northern Mechanical Services has been providing HVAC services to residential and commercial customers throughout Warren, Washington, and Saratoga counties since 1992. The company’s technicians and installers specialize in heating, air conditioning, refrigeration, zoning, plumbing, and indoor air quality design “We service and install HVAC and plumbing, but we focus more on HVAC,” said company vice president David Crear. “Twothirds of our business is commercial, and the other third is residential.”

On the commercial side, the company tends to work on smaller projects for a diverse client base. In terms of residential work, they focus primarily on repairs and replacement, with new construction representing a very small percentage of their residential business.

While both commercial and residential business remain strong, Crear reports that residential consumers have reduced spending.

“We have seen a lot of interest in some of the clean heat programs-- moving towards dual fuel which could be a heat pump with gas or propane. There’s been a lot of interest in those types of things, but overall, you can tell that people have pulled back from spending.

With a staff of 28 employees, Crear said the company has no plans for expansion “Here’s the predicament that we all seem to be in--the business is out there that would allow us to grow, however, finding people to do the work has been the main issue Crear first noticed signs of an impending

Courtesy Northern Mechancial Services

labor shortage more than five years ago “You could see it coming between 2016 and 2020, and during the COVID years it seemed to really hit. The best way to explain it is that your experienced techs tend to be in their 50s, and then your next group of employees are in their early to mid-20s,” he said. “For us as well as other companies, it’s about being able to train the next generation of installers and technicians.

According to Crear, the shortage of qualified employees is so critical that some small companies have changed their business plans.

“I have heard that there are some companies who have decided that they are not going the route of trying to train employees.

Instead, they will continue working for as long as they can, and when it’s done, it’s done.

While Crear has noticed that more young people are becoming interested in pursuing skilled trades, he said it will take years for the industry to recover.

“We have been pulling from BOCES which is a good program, however even when you get them from BOCES it’s still going to take a few years to get someone in their own van and out working.

While Hudson Valley Community College does have an excellent HVAC training program, most graduates go to work for larger companies located closer to Albany “It’s difficult for us up here (in Queensbury) because down towards Hudson Valley you have a lot of larger companies,” said Crear.

He predicts that some companies will be forced to reduce their workload as more Continued On Page 15

F. H. Alexander completed an Alltown Fresh location at 141 Saratoga Road, in Moreau a few months ago. This is the third location for Alltown Fresh, joining the Schenectady and Livingston locations.

Saratoga Business Journal Photo

BY CHRISTINE GRAF F. H. Alexander of Schaghticoke has been providing commercial construction, design/build, and commercial renovation services to customers throughout the Northeast since 1991. Last year was a busy one for the company, with crews working on projects in Ticonderoga, Moreau, Oneonta, Plattsburgh and beyond In Moreau, they built an Alltown Fresh truck stop, one that opened just a few months ago. For F. H. Alexander, it was their third Alltown Fresh. The others are located in Schenectady and Livingston.

The company also completed construction of a Hoffman Car Wash in Oneonta as well as a Dunkin Donuts in Plattsburgh.

Construction of Paper and Pencil, a new restaurant in Ticonderoga, will wrap up after all of the kitchen equipment arrives.

“We have absolutely nothing local going on at the moment,” said company president Frank Alessandrini. “We do have a small fitness center addition to the Marriott Fairfield at Exit 12 in Malta that’s coming up this spring. We also have a structural renovation project in Albany that’s also supposed to happen in the spring.”

Currently, F. H. Alexander has three Dunkin Donuts remodels underway in Plattsburgh. This summer, they will start construction of a new Dunkin Donuts in Malone, one that will include a restaurant, donut production facility, and retail rental space.

The company typically has three to four fairly large projects underway at any given time. On average, they bid 90 to 100 total

jobs per year.

F. H. Alexander has worked on projects as far away as Springfield, Massachusetts, and the company provided project management for a customer in Southern New Jersey. They have worked in Pennsylvania and Connecticut and are currently bidding on several projects in Vermont.

“We tend not to venture too far west of Syracuse, and we try to focus on the eastern half of New York State, north of Westchester County,” said Alessandrini.

“It depends a lot on the customer. For a customer that is a repeat customer and that we have a good relationship with, we will go just about anywhere.”

According to Alessandrini, one of these repeat customers is a restaurateur who operates throughout northern New York.

“He is a very good customer, and we do the lion’s share of his work. We will go wherever he needs us to go, and we did a couple of Kentucky Fried Chicken renovations for him a few years ago in Messina and Canton.”

With a staff of 14 employees, F. H. Alexander specializes in project management. The company relies heavily on sub-contractors, performing some of the carpentry and concrete work themselves.

Alessandrini reports that the commercial market remains strong but that the skilled labor shortage has prevented his company from expanding.

“We’re a small company, so we can generally stay busy whether the economy is good or bad. We are seeing a similar f low Continued On Page 11

12 • GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024

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Workforce Trades Continued From Page 1

about jumping back in. Material prices have decreased to some degree. Things are pointing back in the right direction. The biggest factor right now remains labor.”

“It’s pretty much across the board,” he said. “All trades have been impacted.”

Anthony Cerrone, Hoosick Valley Contractors vice president pre-construction, said, “There’s 300,000 to 400,000 open jobs (nationwide) every month in construction.

We have an aging workforce that’s retiring and the young generation moving in is not enough to fill that void.”

One of the coalition’s biggest challenges is overcoming the misconception that trades are just “guys on the roof, people in the ditches” performing extremely hard, physical work at relatively low pay in somewhat dangerous conditions, Ford said.

Or that trades are primarily for kids who can’t cut it academically.

“It’s not true,” Ford said. “Technology has really changed the industry. There’s a lot of other people behind the scenes in trades such as project managers, design and inspection people. That’s one of the issues why there aren’t enough young women getting into the trades. They don’t realize there’s all these other jobs. There’s a lot more to trades than the people you see.”

“There’s math, science, technology,” Cerrone said. “The STEM skills are used every day in construction.”

In March, the coalition will host a Speed Trading day, where 80 school counselors from throughout the area will meet with various trades professionals, from roofers to design specialists, to understand exactly what they do.

“Our industry has done a terrible job historically of working with schools,” Ford said. “Sometimes counselors don’t know how to talk to kid about trades. That’s one of the things we’re trying to change. Lumber yards like us and suppliers need to be in schools just like colleges and the armed services, talking to counselors and engaging students.

Sam Ratti, Northville Central Schools middle and high school principal, said fewer students are pursuing four-year colleges right out of high school.

“So we need to adjust our approach to exposing students to alternate pathways to find success in life,” he said. “The coalition helps engage kids with trades professionals to see what they do. We’re bringing schools together with businesses, businesses together with lobbyists. Together we can make a difference not only in our communities, but the lives of students we work with.”

Efforts to reach young people begin in the elementary grades and continue right through high school.

“In the beginning we were short-sighted,” Ford said. “We focused on high school juniors and seniors. We quickly realized this problem is much bigger and is going to take a lot longer. Now we have a toolbox program in elementary schools where we send builders in and build toolboxes with kids. While working with them we talk about the trades and plant the seeds. Then kids go home with toolboxes and talk to their parents about it.”

In July, the coalition in conjunction with Whitbeck Construction LLC, will host a week-long camp in Wilton for fifth- and sixth-grade girls who will take part in hands-on projects, visit construction sites and engage with various trades people.

The program is made possible with funding secured by Assemblywoman Carrie Woerner, D-Round Lake.

Recently, the coalition hosted a “She Shed” building project for girls in six area high schools.

“Each school had a female contractor who taught what to do,” student Arlie Rickson said. “We had to use a lot of airpowered tools, set up equipment and use our muscles. Within five hours we were all successful in building a shed, which is kind of crazy.”

“I really like working and designing things on computers and watching things come to life,” she said. “That’s the amazing thing about trades. You start from nowhere and out of nothing you have this amazing project and feel a great sense of accomplishment. The coalition has exposed me to so many opportunities.”

For young people, the benefits of a building trades career couldn’t be more obvious.

First, because of the extreme labor shortage, jobs are readily available for everyone from electricians and carpenters to heavy equipment operators.

Equally important, the pay scale is extremely rewarding.

“It’s very attractive,” Ford said. “A person graduating from a BOCES program will be making more than a teacher within two years. That’s a fact. That’s how fast the pay rates are moving. There’s a much steeper curve to the pay scale just because of the labor shortage. What used to take several years doesn’t take nearly as long now. Young people applying themselves and doing what they need to do will rise very fast.”

“If you’re willing to work and learn you will succeed in construction,” Cerrone said.

And there are several different ways to enter the field, not just through BOCES. “You can certainly get into the trades through college, engineers and all that, or a two-year school,” Ford said. “Then there’s the union route. They all work. It’s wide open for everybody.”

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Munter Enterprises Continued From Page 10

defense contractors, aerospace manufacturers and shipbuilders.

“This new facility is replacing a dated structure on their property. It is being built specifically to accommodate a contract they were awarded to conduct testing for the U.S. Navy. We anticipate completion in the second quarter of this year,” said Munter.

Other projects that are currently underway include a 1,200-square-foot fitness center expansion at The Water’s Edge Community on Saratoga Lake as well as a 12,000-square-foot addition for G&G Industrial Lighting. With a new location in Malta at the former NYSERDA property, G&G manufactures innovative LED lighting products for harsh environments. Both projects have estimated completion dates in June.

“Additionally, we are in the ground on a 40,000-square-foot manufacturing and shipping expansion at Environment One in Niskayuna where they manufacture sewer ejector pumps and ship them worldwide,” said Munter. “If all goes as expected, this one should be done in December.”

Work is also in progress for Luizzi Brothers at their industrial park expansions in Watervliet and Green Island where Munter Enterprises has been contracted to install over 200,000 square feet of concrete foundations and furnish and erect the steel buildings.

Work will begin this summer on the second of two 80-boat storage buildings the company was enlisted to build for Yankee Boats in Lake George. The first building was completed in late 2023, just in time for the winter storage season.

“Being a design/build contractor, at any given time, we have as many projects on the drawing board as we do in the field.

One notable one right now is a new club-

Chuck Ciaccia 30 years

Jude Gosh 35 years

Dave Weiss 24 years

house for the Ballston Spa Country Club.

That project is currently in design, and construction will commence this fall when the golf season tails off,” said Munter.

Although material prices continue to rise, Munter reports that prices have generally stabilized.

“Now, we are just seeing the typical market increases. We are no longer seeing the big swings that we did when we were coming out of the pandemic. The price of lumber came back to close to normal, but steel did not. It is continuing to go up.”

While lead times have improved for most products, shortages still exist.

“We are still experiencing some long lead times on items—specifically on the electrical side. For some jobs, we have to wait over a year to get the panels needed,” said Munter. “We have jobs that are done but that are sitting there waiting for electrical gear.”

Munter Enterprises has 40 employees and relies on subcontractors for mechanical, electrical, plumbing, and other specialty trades. With an industry-wide skilled labor shortage that remain critical, Munter said his company is “always hiring.”

As the chair of the Saratoga, Warren, Washington Workforce Development Board, Munter is working with their local Career One Stop job centers as well as industry leaders and organizations including WSWHE BOCES and the Northeast Construction Trades Workforce Coalition.

They are collaborating on a variety of initiatives to encourage and enable young people to pursue skilled trade careers.

“We are optimistic about our workforce development efforts,” he said. “More young people are interested in the trades and our goal is to be able to facilitate better paths for them to get training and find career opportunities.”

Spencer Agan 26 years

The Associated General Contractors of New York State (AGC NYS), New York’s leading statewide construction industry organization, has announced the appointment of Thomas Wiser, P.E., as Vice President of Transportation Services. Wiser brings more than 30 years of extensive experience in the transportation and construction sector, primarily with the New York State Department of Transportation.

“I am very excited to continue working in the construction industry supporting the AGC members as they work through many of the technical challenges keeping project’s moving forward to bring them to completion on time, within budget and safely,” said Wiser.

Most recently serving as Regional Director for Region 9 at NYSDOT, Wiser was responsible for guiding a team of 700-800 employees, showcasing his strong leadership skills and deep understanding of New York State’s transportation infrastructure. A proven problem-solver, his tenure as Regional Construction Engineer, where he managed projects ranging from $100 million to $350 million, underscores his expertise in ensuring quality, compliance, and economic efficiency in large-scale construction projects.

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A Clarkson University alumnus, Wiser holds a Bachelor of Science in Civil Engineering and an Associate in Science in Engineering Science from Broome Community College. His career is marked by a consistent pursuit of excellence and innovation in transportation engineering and management.

As Vice President of Transportation Services at AGC NYS, Wiser will leverage his extensive experience and knowledge to advance the organization’s mission of advocating for the construction industry and ensuring the highest standards in transportation construction projects across New York State. His appointment is a testament to AGC NYS’s commitment to bringing seasoned leadership and expertise to the forefront of the industry.

“We are very pleased to welcome Tom Wiser to our team of highly experienced and dedicated professionals,” said Mike Elmendorf, President & CEO of AGC NYS. “His remarkable track record at NYSDOT and his profound understanding of the complexities of large-scale construction projects in New York make him an invaluable addition to the stellar AGC NYS staff and will enhance the service, expertise and guidance it provides to New York’s leading contractors.”

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Plans call for expanding the sales force to other parts of the country, but all production will continue to be in Queensbury. DeVito said support from Warren County Economic Development Corp. and local investors have been instrumental to the company’s success.

“What’s important is that the technology, the patented liner, can perform not only in motor vehicle crash helmets, but also in head protection for sports and athletics,” he said. “We can talk about hockey, baseball, bicycles and workplace safety with construction helmets.”

Football is another obvious application, which would take considerable capital and a partner that’s willing to adopt KIRSH Helmets’ technology.

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Northern Mechanical Continued From Page 11

employees retire.

“You will have to put more time and effort into raising the abilities of your younger techs and installers. For that reason, I think ultimately you would have to shrink in order to be able to handle that.

At the same time, companies will have to continue increasing wages, passing along these costs to the customer.

“The lack of supply of employees has driven wages up. It’s pretty dramatic how much it’s increased in the last two or three years,” he said. “It’s defi nitely increased rates, but we’ve

tried our best to keep rates as low as possible.

With all companies in the industry facing similar struggles, retaining employees is critical. Th is can be especially challenging for small players in the HVAC industry.

“It’s not just monetary,” said Crear. “You have to make your employees feel they are a part of something. You need to set goals and have a vision of where you want to go as a company. Your employees need to be brought in as a part of that.

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F. H. Alexander

Continued From Page 11 of estimates and available projects for us, but the shortage of labor has kept us from growing the way I would like and from taking on more projects.”

Faced with a situation that he described as “horrendous,” Alessandrini said it is nearly impossible to hire qualified employees.

“It’s a bad situation. I think the education system in this country has done a tremendous disservice by not encouraging people to get practical education.”

At F.H. Alexander, the labor shortage has placed additional stress on the com-

pany’s field managers who are forced to pick up the slack.

Adding to the problem for smaller companies is when trained employees are lured away by larger companies.

“Over the years, I have trained people in field supervision and they’ve been snapped up by companies with fancy front offices and much deeper pockets than mine,” he said. “That’s the way of the world, and I certainly don’t begrudge somebody trying to better themselves.”

For more information, visit f halexander.com

Hilltop Construction Continued From Page 11

members, but the qualified candidates aren’t out there,” he said.

In addition to providing quality work to clients, Washburn feels it is important to give back to the communities that have treated the company so well.

Tom Jr, for example, has been on the Board of Trustees at Christ Church in Glens Falls for ten years, currently serving on a Governance/Leadership team as well; he coaches a Little League team, volunteers at the annual Kiwanis Duck Race, and volunteered at the local CROP walk for many years.

Tom Sr and Cindy Albrecht have re-

tired, but the family continues to guide the company into a profitable future. In addition to Tom Jr and Dan Washburn, April Washburn, Tom Sr and Cindy’s daughter and Dan’s wife, is also a principal owner. Since 2004, she has kept the office organized by handling the day-today operations of telephone calls, emails, human resources, accounting, and more.

For more information about Hilltop Construction log onto www.HilltopConstructionCo.com. The telephone number is (518)-798-0338. Company headquarters is located at 21 Casey Road in Queensbury.

Washington County New Business Registrations JANUARY J & J All Around Handyman 610 Coot Hill Rd. Argyle, NY 12809

Court L Photo 17 Feeder St. Hudson Falls, NY 12839

Maid Mama 7 Lincoln Ave. Fort Edward, NY 12828

J A Donnelly Transport 75 County Route 36 Hudson Falls, NY 12839

G and H Pallets and Lumber 114 Oatman Lane Granville, NY 12832

RPT Craftsman 15 Thomas Ave. Hudson Falls, NY 12839

Hand Grains 533 Wilbur Ave. Greenwich, NY 12834

Hudson Falls Family Practice 340 A Main St. Hudson Falls, NY 12839

J and M Custom Remodeling Etc. 410 State Route 29, #1 Greenwich, NY 12834

Adriondack Billing and Credentialing 794 County Route 41 Hudson Falls, NY 12839

Second Half Psychology 69 Main St. Greenwich, NY 12834

Tempo Builds 925 County Route 6 Huletts Landing, NY 12841

Red Top 4H 19 Fox Rd. Hampton, NY 12837

JT-Designs 48 Mott Lane Putnam Station, NY 12861

70 Mitchell Street | Saratoga Springs, NY $1,149,000 This east-side bungalow faces Fasig-Tipton with views of the Oklahoma Track & ample space for track parking on this large lot during the Saratoga Racing Meet. Enjoy walking to all the fun and renovate this gem into your dream home or turn your purchase into a cash business instantly. Zoning allows for a 1-2 family residence, just steps from the Historic Saratoga Race Track! Call Christine today!

Christine Hogan Barton Associate Real Estate Broker

518.744.0732 cmh217@gmail.com

16 • GLENS FALLS BUSINESS JOURNAL • FEBRUARY 2024

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