Saratoga Business Journal - January 2023

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SARATOGA BUSINESS JOURNAL

VOL. 27 NO. 11

HH The Business Newspaper of Saratoga County HH JANAURY 2023

www.saratogabusinessjournal.com

New Hampshire-based Group Taking Over Longfellows Proposes Major Renovations

Longfellows Hotel, Restaurant and Conference Center at 500 Union Ave., Saratoga Springs, is closing this month as the property is being purchased by a New Hampshire group that owns and develops luxury hotels.

After more than a quarter century in business, Steve and Yvonne Sullivan and David Powers are selling the property to Hay Creek Hotels of Exeter, N.H.

Price has not been disclosed. The Sullivans and Powers also own the Olde Bryan Inn, 123 Maple Ave., Saratoga Springs, and will continue to operate it.

“After almost 50 years in hospitality, it’s time to step back,” said Steve Sullivan. “I believe Longfellows is in good hands. Going forward, we plan to continue to own and operate

the Olde Bryan Inn for many years to come. I also look forward to time spent coaching those around me, as well as working on social service projects, some that I’ve already been involved in for many years.”

Hay Creek wants to renovate the property and operate it as a boutique hotel with a restaurant and spa. Hay Creek is working on renovations with Balzer & Tuck Architecture, The LA Group Landscape Architecture & Engineering and Bonacio Construction of Saratoga Springs. Bonacio Construction also will have an equity stake in the project.

Hay Creek Hotels “was created specifically to combine the intimacy of a boutique hotel with world-class cuisine, cutting-edge technology, unparalleled guest service and the exclusive

Stewart's Shops Annual Holiday Match Program Amasses $2M For Area Nonprofits

The 2022 Holiday Match Program conducted by Stewart’s Shops has raised over $2 million for local children’s organizations, the company said.

From Thanksgiving Day through Christmas Day, Stewart’s customers donated $1,011,281 to the program. Each individual donation was doubled by Stewart’s Shops. With no administrative fees, 100 percent of the funds benefit local, nonprofit children’s organizations.

“We are continually amazed by the generosity of our customers. We are proud to double their gifts allowing us to share more with our communities. These gifts have the power to accelerate progress where it’s needed most and support projects and services that can fuel real change in our communities,” according to Jennifer Frame, Stewart’s Shops director of corporate philanthropy.

Some 1,716 children’s organizations received funding from last year’s Holiday Match campaign. The grants help children all year long.

All local children’s charities are encouraged to apply for funding from the Holiday Match program. Organizations can apply online through Jan. 31. All groups applying must be locally based, benefit children under 18, and be a qualified, charitable 501c3 organiza-

tion.

All the funds will be allocated in March, the company said.

Stewart’s Shops and customers have raised over $36 million since 1986 through the holiday program.

Saratoga County Tourism Industry In ‘Resurgence;’ Growth Anticipated In 2023

As we say farewell to 2022, we can reflect on what a great year it was for leisure travel and in the meetings industry.

Leisure travel was anchored by many of our major attractions and cultural institutions, such as the Saratoga Performing Arts Center, Live Nation, Saratoga Casino Hotel, Universal Preservation Hall, Caffe Lena, National Museum of Racing, and the historic Saratoga Race Course. The track’s summer meet eclipsed one million in paid attendance for the seventh consecutive year.

As for meetings and events, the return of business was swift. Not even rising costs, staffing shortages and a possible recession changed meeting planner confidence. While we are still below pre-pandemic booking levels, we saw that our leads and bookings volume were on the rise.

When we look at the numbers for our lodging partners, there was much to celebrate. Through November of 2022 year to year, Saratoga County saw steady growth over 2021. Over the previous 12 months, demand increased by 14.8 percent, occupancy was up 12.9 percent, average daily rate was up 11 percent, and revenue per available room was up 25.3 percent. Since group business is not entirely back, leisure business literally saved the day.

The occupancy and average daily rate that our lodging partners were able to command shows a strong return to business, and breaking records for revenue in many cases.

Looking ahead, the pace of recovery can now be described as a resurgence. So, when we look ahead to 2023, we will talk about growth, and not recovery. This could be the year that the industry surpasses 2019 events volume and just keeps going from there.

Travel is back, especially in the meetings and events business. Organizations and businesses discovered us for the first time and are realizing the ease of getting to our destination. Additionally, business leaders understand

that holding events in our destination can be cost effective versus flying to other first-tier locations. Our planners talk about unique destinations, they want different. They would rather explore smaller towns and regions. Our thriving downtown, unique venues, and our wide-open spaces inspire creativity and innovation in a welcoming atmosphere, which creates team building opportunities. Meetings build the bonds that are so important to driving corporate culture, sustaining the health of an organization, and accomplish their mission.

Clients are also more aware of sustainability, with a greater emphasis on groups reducing their carbon footprint, minimizing waste, and focusing more on traveler well being—both mental and physical. Wellness classes, spa services, outdoor pursuits in our pristine parks, and the healing attributes of our natural springs are a perfect fit to find personal balance. We’ve always promoted these value propositions, but now it’s a new talking point since COVID has retreated.

Retiring SEDC President Stresses Importance Of Job Retention And Workforce Housing

The Saratoga Economic Development Corp. helped secure $1.5 billion in new business construction, which created and retained thousands of jobs during Dennis Brobston’s tenure as the nonprofit agency’s president.

This doesn’t include the GlobalFoundries’ $15 billion investment at Luther Forest Technology Campus in Malta, where plans are in the works for a second computer chip manufacturing plant that might cost up to $10 million and create 1,000 more jobs.

Brobston, 63, retired Dec. 31 after 14 years with SEDC.

As he looked back at his tenure, he said he expects the Malta project to fuel a whole new wave of business and job growth. That’s why SEDC’s focus the past few years has been on providing the industrial space and workforce housing needed for related, support firms to locate here and succeed.

“We’re seeing the need for these things because of the economic viability of our county for new jobs,” Brobston said. “My concern with Global is that when they pull the trigger on Fab 8.2 and start to get new people in here, that we have enough capacity to handle that.”

“It’s hard to get workers if you don’t have workforce housing,” he said. “You’ve got to have

a place for people to live. It’s something people all across the country are talking about. It’s definitely needed in our county because it’s difficult for some people to afford rents, which have grown to $1,200 to $1,500 for sometimes outdat-

SBJ P.O. Box 766 Saratoga Springs, NY 12866 PRSRT STD U.S. POSTAGE PAID GLENS FALLS, NY 12801 PERMIT #600
The Stewarts Shops 2022 Holiday Match program raised $2 million for area nonprofits. Courtesy Stewarts Shops
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Continued On Page 13
Dennis Brobston retired Dec. 31 as president of the Saratoga Economic Development Corp.
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After more than a quarter century in business, the owners of Longfellows have decided to close. The city is soon to review renovation plans from the new owners. Courtesy Longfellows Darryl Leggieri is the president of Discover Saratoga.

Personnel Briefs

Bucknam & Conley CPAs, a CPA firm specializing in tax and providing services nationwide, announced that Riley Markle has joined the firm as office administrator/project manager.

She will be the front-line client interface of the firm, will manage our technology and client experience initiatives and will oversee the internal workings of the office.

After graduating from the University of Albany, Markle enrolled at SUNY Empire State College where she is pursuing an MBA with a concentration in Human Resource Management.

Riley gained her prior experience in operations, human resources, and office administration while working at a law firm in Albany and later in a consulting firm in Saratoga.

The company also announced that both Daulton McHale and Bryce Kahler passed their last part of the CPA exam.

McHale is officially a licensed CPA in the state of New York. He is a senior tax associate and Kahler is a tax and accounting associate. They work on a wide range of industries and have a broad perspective on the varied tax and accounting issues that clients encounter.

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NBT Bank announced that Catherine Raymond has joined the company as talent acquisition manager.

Raymond, who has more than a decade of experience in talent management, will design, implement and manage effective hiring strategies for candidates across the company’s seven-state footprint that align with NBT Bank’s business goals.

Most recently, Raymond served as talent acquisition operations manager for Oneida Nation Enterprise. Prior to that, she was the division manager for an accounting and finance staffing firm.

She holds a bachelor’s degree in business administration from Nazareth College and has received numerous awards for her work. Active in her community, Raymond volunteers at the Boys & Girls Club and with the Wounded Warriors Project.

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Whiteman Osterman & Hanna LLP has extensive experience representing clients in the area of Alcoholic Beverage Law and is continuing to grow this practice with the addition of Alexandra Becker and Richard Burstein

The industry is constantly evolving and COVID has exacerbated the already high demand for licenses and need for new capabilities, including take out of alcoholic beverages and the possible change to allow wine in grocery stores.

Becker and Burstein, a father-daughter team, bring 55 years of combined experience in this area, representing clients across a variety of industries in matters before the New York State Liquor Authority (SLA) and Alcohol and Tobacco Tax and Trade Bureau (TTB).

Becker joins the firm as a partner focusing her practice in the area of alcoholic beverage licensing and compliance, as well as corporate law, and mergers and acquisitions.

Becker started her career with her father, Richard Burstein, as her mentor and together they have assisted hundreds of clients in obtaining liquor licenses. She represents numerous national brands in the area.

Burstein joins the firm as senior counsel, and in addition to his alcoholic beverage practice, also represents clients in the gaming industry, including Saratoga Casino and the New York Gaming Association, and has extensive experience in corporate and securities law, and mergers and acquisitions.

Continued On Page 19

The Wesley Community Makes A Series Of Management Promotions On Leadership Team

The Wesley Community announced a series of management promotions among its senior leadership team.

Katie Lahoff was named chief financial officer, Katelynn Ethier was appointed executive director of The Wesley Foundation and Greg Dixon was promoted to chief development and marketing officer.

In addition, Heather Roselan was hired as director of assisted living at Woodlawn Commons.

“We are pleased to announce the promotions of these exceptional individuals to their new leadership roles at The Wesley Community,” said J. Brian Nealon, CEO of The Wesley Community.

“It is always a source of great pride when our existing leadership team members advance with us in their careers. Additionally, we remain committed to identifying and recruiting new talent as we embrace the future of senior care.”

Lahoff began her career at Wesley in 2006 as controller before being promoted to director of finance in 2018 and charged with overseeing all business office operations. In her new role as CFO, Lahoff will expand her oversight of business office operations to include admissions to The Wesley Health Care Center.

“Working for a mission-driven organization has given my career more meaning and purpose. The compassion Wesley provides to our residents, their families and our staff makes me proud to be part of a community that cares for all who walk through our doors,” said Lahoff.

Ethier joined The Wesley Community in 2016 as a foundation assistant. She earned a series of promotions beginning in 2017 to marketing and advancement associate, development manager in 2018 and assistant director of The Wesley Foundation in 2021. During her tenure as assistant director,

Ethier led The Wesley Foundation’s event series and oversaw its grant program.

In her new role as executive director of The Wesley Foundation, she will work with Wesley’s Senior Management team and the foundation’s board of directors to generate funding to enhance the lives of Wesley’s residents and clients.

“I am so grateful to the team here at The Wesley Community for trusting me and allowing me the opportunity to grow and advance in my career,” Ethier said. “I look forward to stepping into this new role and continuing the important work of the Foundation.”

Roselan, a newcomer to The Wesley Community, will oversee the 40-bed assisted living facility’s operations and staff while promoting Wesley’s core tenets of exemplary care and compassion for all residents. Her background features extensive management and customer service experience which most recently included her work at Highmark BlueShield Northeastern New York in Latham. Roselan earned a master’s degree in social work from Rutgers University.

“Joining the Wesley and Woodlawn family has been an incredible experience,” said Roselan. “The residents and care team have been extraordinarily welcoming and helpful as we navigate this new era together.”

Dixon will continue his oversight of all marketing and development functions for the nonprofit organization. Additionally, his portfolio will expand to include leadership support for the directors of Woodlawn Commons Independent and Assisted Living communities as well as Wesley Senior Solutions home care services.

Dixon spent his past eight years as executive director of The Wesley Foundation spearheading all marketing and development efforts for the fundraising arm of The Wesley Community.

“I look forward to continuing to support Wesley’s mission and contributing to its meaningful impact, while playing an active part in the future of aging services and the evolving role for Wesley in our region,” Dixon said.

For more information about The Wesley Community, visit www.thewesleycommunity.org.

The Wesley Community is a 36-acre, nonprofit agency in Saratoga Springs. Sponsored by United Methodist Health and Housing, Inc., it provides market rate and affordable housing for independent seniors, enriched living apartments for seniors who desire additional support, in-home health care services, short-term rehabilitation and long-term nursing care, as well as outpatient therapies for people of all ages.

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Prime Companies Has Long-Range Plans For Apartment Complex Near Train Station

Cohoes-based Prime Companies has a project approved in Saratoga Springs and is waiting for the stars to align, financially speaking, before going ahead with construction.

That’s the firm’s strategy for a proposed upscale apartment and townhouse complex to be called Saratoga Station Square on the south side of Station Lane, off West Avenue, in Saratoga Springs, near the Amtrak station.

Plans call for a 2024 construction start on four, four-story apartment buildings with 338 units, 48 townhouses, a 376-space underground parking garage and amenities such as a saltwater swimming pool, outdoor fire pits, pizza ovens and kitchen, putting greens and bocce courts.

“Saratoga Springs is arguably the best place in Capital Region to live,” Prime Companies principal Dean Devito said. “It’s regularly voted one of the best small cities in America. When you get people coming in from out of town, deciding where to live, Saratoga constantly gets ranked as having the best quality of life.”

“Anybody who wants to take a train, you can just walk from the property and go to Montreal or New York City,” he said.

Prime recently paid $2.5 million for 17 acres where the project would be located, between Station Lane and Route 29. Devito said construction, taking from 18 to 24 months, would likely cost from $70 million to $80 million.

The complex would be almost identical in design to the company’s Hudson Square luxury apartments on Van Schaick Island in Cohoes. “We’re taking that model and reproducing it in Saratoga,” Devito said.

But the construction timeline will be heavily dependent on the economy “because of how high construction costs and interest rates are,” he said. “I’ve been doing this more than 30 years and I’ve been probably through six of these cycles. What we do is get projects ready. When the stars align, then we build them. Are the stars going to align in 2024? I can’t tell you right now. But I’ll have a piece of property that’s ready if the

time is right.”

The Station Lane property was previously targeted for a large hotel, which a different developer backed away from. Because of this, however, considerable data for site-plan issues has already been collected, which could hasten the approval process, Devito said.

But he acknowledged that traffic concerns for the already busy West Avenue corridor could be a challenge.

“We’re confident we can address the traffic issues. It’s probably going to be the biggest thing we have to resolve,” he said.

Prime Companies also developed the Pavilion Grand apartments on Lake Avenue in downtown Saratoga Springs and The Hamlet at Saratoga, which has 145 apartments and 50,000 square feet of retail space near the intersection of Marion and Excelsior avenues.

“So we have a presence there and like the market,” said Devito.

He said the new complex would likely attract both empty-nesters downsizing from singlefamily homes, and millennials just moving to Saratoga.

The size of the property creates more opportunity for recreational activities, making it more attractive for some people than Prime’s other projects in Saratoga Springs, he said.

Plans call for 184 one-bedroom apartments, 104 two-bedroom apartments and 50 threebedroom units.

“There’s definitely a housing shortage right now, nationally, and somewhat in our area as well,” he said. “There’s always going to be enough people to rent the 338 apartments that we’re putting up.”

Rental fees will likely be higher in Saratoga than at Prime’s facilities elsewhere, simply because of the market’s popularity, but an exact price structure hasn’t been determined.

“I can’t tell you what the rental market is going to be like three years from now,” Devito said. “I can’t compare it to Hudson Square because Saratoga is a totally different market.”

SAIL Moves To New Space At Wilton Mall

Southern Adirondack Independent Living (SAIL), which originated in Glens Falls and has a Queensbury office, has relocated its Saratoga County office to the Wilton Mall.

The new Wilton location replaces offices in Ballston Spa where the organization was located for 15 years. The agency also has offices in Saratoga, Queensbury and Plattsburgh.

“People with disabilities are figuring out their next step,” said Tyler Whitney, deputy executive director. “A lot of people don’t know what they need when they come here.”

The organization assists with housing, arranging in-home medical and nursing services, finding appropriate health insurance, free medical equipment loans, preparing Medicare and Medicaid applications, connecting with other community services, and other services that can help people with disabilities achieve the greatest level of independence possible. Primarily a source of advice and counseling, SAIL does not provide direct services but, Whitney said, they work closely with the providers that do.

The organization serves a 15-county swathe of upstate New York. “We begin in Columbia/ Greene and work our way up,” Whitney said. It is a nonprofit organization, supported by state and federal grants and donations.

Whitney said the new office is “accessible and innovative,” centrally located in the heart of Saratoga County. Availability of public transportation was a big piece of the decision to relocate to Wilton, she added. The new location provides 4,500 square feet of space. It received a “top to bottom renovation” between the time SAIL decided in mid-summer to move and their actual relocation in early October.

“The new space provides a warm environment in which our staff can continue to assist our community members on their journey toward independent living,” Whitney said. “We find that repurposing a location once used for retail is a trailblazing idea that can bring new life to shopping centers,” she added.

SAIL serves between 5,000 and 8,000 clients a year in its three offices. They have about 40 employees, five or six of them detailed to Saratoga.

Founded as Glens Falls Independent Living Center in 1988, SAIL opened offices in Saratoga

Village To Fund Report With State Grant Funds

The city of Mechanicville is one of several municipalities in the state to receive part of the $33 million in Community Development Block Grant funds awarded for local infrastructure improvement and housing rehabilitation projects.

The grants are designed to help communities provide decent affordable housing and safe living environments primarily for low- and moderate-income residents.

Mechanicville will use $47,500 in grant funds for the development of an engineering report documenting issues with the city’s stormwater infrastructure.

Also in the region, the village of Fort Edward in Washington County was awarded $48,000 to complete an Engineering Assessment of the Historic Fort Neighborhood.

“By supporting improvements to build affordable housing, enhance public water facilities and strengthen local infrastructure, this funding will lay the groundwork for stronger, more resilient neighborhoods across New York,” said Gov. Kathy Hochul said. “These critical investments in our public infrastructure will help provide safe, stable housing and affordable amenities to New Yorkers while allowing businesses to grow and thrive, and I thank the New York Congressional Delegation for securing this vital funding for our state.”

The Community Development Block Grant program is a federally funded program administered by New York State Homes and Community Renewal that helps counties, cities, towns and villages with projects that improve communities and benefit residents across the state.

Grants can be used for housing rehabilitation of owner-occupied or renter-occupied homes, down payment assistance for low- and moderate-income first-time homebuyers, and private water/wastewater system assistance.

in 1994 and Plattsburgh in 2013. The organization was renamed in 2007 to better reflect its commitment to providing services throughout the North Country, Glens Falls and Saratoga regions.

More information about SAIL and its

is available on their website at sailhelps.org, or by telephoning 518-792-3537.

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Stillwater Gets State Funding To Help The Development Of Waterfront, Downtown

The town and village of Stillwater have been awarded a state grant to help revitalize a 401-acre area that includes waterfront property and the Village’s core business district including brownfield and underutilized parcels.

The village will receive $200,000 through the 2022-23 Brownfield Opportunity Area (BOA) program run by the state.

The town and village plans complete a BOA plan that will promote economic development along the Route 4 corridor as well as the village’s downtown and waterfront, repurposing key sites to expand opportunities for walkable mixed-use development, and increasing Hudson River waterfront access.

Gov. Kathy Hochul on Dec. 29 announced over $22 million in grant funding was awarded to 76 communities across the state through Round XII of the Regional Economic Development Council Initiative to promote smart, sustainable and equitable community growth.

The funding will help communities revitalize their waterfronts, clean up and redevelop abandoned industrial sites and create neighborhoods that are environmentally sustainable through three state programs including the Brownfield Opportunity Area (BOA) program, which awarded $4.1 million to 19 communities including Stillwater.

“We continue to invest in smart, sustainable, and equitable growth in communities across the state to give New Yorkers a cleaner, brighter future,” Hochul said. “This funding will help revitalize waterfronts, clean up and redevelop abandoned industrial sites, and create environmentally sustainable neighborhoods—all key aspects a thriv-

ing and vibrant community.”

“Our state’s economy is continuing to grow stronger than ever, and the Regional Economic Development Councils are at the ready to help however they can,” said Lt. Gov. Delgado. “These diverse grants have a broad, sustainable scope from boosting underused waterfronts to cleaning up and developing overlooked fields. These projects pay dividends to the communities they serve and to all those who visit them.”

The Brownfield Opportunity Area (BOA) Program transforms brownfield sites, neighborhoods or areas within a community negatively affected by real or perceived environmental conditions—from liabilities to community assets—which in turn generate and support new businesses, jobs, housing and public amenities.

All the awards are funded through the state’s Environmental Protection Fund, which Hochul increased from $300 million to $400 million in the Enacted Budget for Fiscal Year 2023. The Department of State, through the Environmental Protection Fund, provides matching grants on a competitive basis to eligible entities throughout New York state and its coasts or designated inland waterways for planning, design and construction projects to revitalize communities and waterfronts.

Officials said these programs help communities breathe new life into community assets in ways that ensure successful and sustainable revitalization.

Funding for these programs was included in Round 12 of the Regional Economic Development Council Initiative through the CFA resources and standalone programs.

SUNY Adirondack, SUNY Plattsburg Starting Computer Security Degree Program

SUNY Adirondack and SUNY Plattsburgh have an agreement to create a bachelor’s degree program in computer security at the college’s shared Queensbury campus.

The completion program will begin in the fall 2023 semester, offering a two-year study option for graduates of SUNY Adirondack’s associate degree programs in information technology: cybersecurity and information technology: information security, or transfer students with a similar background.

“We are eager to welcome students into our new bachelor degree completion program in computer security, one of the only computer security majors among the SUNY comprehensive colleges,” said Emma Bartscherer, director of SUNY Plattsburgh’s branch campus at SUNY Adirondack. “With the added benefit of a concentration in threat analysis, students will graduate with a competitive advantage and many career prospects.”

“True to our motto, ‘You don’t have to leave to go far,’ SUNY Plattsburgh’s branch campus serves students in the region as the only four-year school with a presence in Warren County, Bartscherer said.

Computer security is the latest 2+2 agreement between SUNY Adirondack and SUNY Plattsburgh. The two colleges also offer joint inperson degree programs in psychology and criminal justice, and online in business administration

and RN to B.S. in nursing.

“SUNY Adirondack is excited to team with SUNY Plattsburgh to offer our IT graduates a chance to further their studies in this high-demand field,” said Kristine D. Duffy, Ed.D., president of SUNY Adirondack. “We know there is great need for experts in cybersecurity, in our region and beyond, so it’s critical those interested have access to a high-quality, affordable education to protect against online threats, attacks and breaches.”

After completing a 60-credit IT associate degree program at SUNY Adirondack, students can seamlessly transfer to SUNY Plattsburgh at Queensbury, where they will take classes such as data modeling and analysis, information visualization, virtualization studio and operating systems, among others.

“Students who enter this major can expect tailored advising and personalized support; interactive, small class sizes; and in-person teaching with dedicated faculty in Queensbury,” said Michelle Howland, assistant director of SUNY Plattsburgh at Queensbury.

To apply to SUNY Adirondack’s IT associate degree programs, visit www.sunyacc.edu/apply. To apply to SUNY Plattsburgh, visit plattsburgh.edu/ apply.

To learn more, visit SUNY Plattsburgh’s branch office in Bryan Hall on SUNY Adirondack’s campus; email branchcampus@plattsburgh.edu, or call or text 518-792-5425.

4 • SARATOGA BUSINESS JOURNAL • JANAURY 2023
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World University Games In Lake Placid Will Have Major Economic Impact On The Region

The largest athletic competition in Lake Placid history—the World University Games—is coming to the north country on Jan. 12-22. It will have a large positive economic impact on the area, officials say.

There will be activities from Clarkson University, where some hockey games will be played, to Gore Mountain in North Creek, which is hosting freestyle skiing and snowboarding competition.

About 2,500 athletes and coaches from 50 countries will take part, much more than the 1,072 competitors from 37 countries at the 1980 Winter Olympics.

The Lake George Regional Convention & Visitors Bureau said the Games are expected to generate about 3,700 hotel room nights, including some right in Lake George for activity taking place at Gore Mountain.

“It factors in not only athletes, but potential spectators who might be drawn here,” said Amanda Metzger, chamber marketing director. “It is an incredible opportunity to showcase North Creek and Gore and we look forward to welcoming these top athletes and helping spread the word about businesses that are open and all there is to do après-ski.”

The Games coincide with the already busy Martin Luther King Jr. holiday week, when many schools are on winter break, which should benefit area hotels, restaurants and retail shops considerably.

“It is definitely benefiting the local area, North Creek and surrounding towns,” said Julia Johnson, Gore Mountain marketing director.

All athletes competing at Gore Mountain will be housed and fed at a Lake George lodging establishment, which cannot be named for security reasons, Johnson said.

Tom Wysocki of the Fort William Henry Hotel said it’s hoped the Games will generate more midweek overnight stays, adding to the brisk weekend business the hotel already gets from Ice Castles, the large wintry attraction that drew tens of thousands of visitors to Lake George last January and February.

Led by ESPN, World University Games will be broadcast to millions of viewers around the planet, which should do a great deal to promote North Country tourism long after athletes go home.

The state has invested $500 million the past few years to upgrade the 43-year-old Olympic venues and bring them up to current international standards. About $80 million was spent at Mt. Van Hoevenberg alone, highlighted by a sparkling new base lodge.

“Lake Placid is making a significant contribution that’s being recognized internationally as a great model and standard for other places in that we generate revenue, jobs and opportunities for people,” said Kris Cheney-Seymour, Mt. Van Hoevenberg manager.

The event has also been a dramatic game-changer for a fledgling Glens Falls firm that produced colorful graphics for the event.

It’s one small example of the estimated $4.6 million economic impact the Jan. 12-22 World University Games will have on the North Country, from Clarkson University where some hockey games will be played, to Gore Mountain in North Creek, which is hosting free-style skiing and snowboarding competition.

About 2,500 athletes and coaches from 50 countries will take part, much more than the 1,072 competitors from 37 countries at the 1980 Winter Olympics.

In 2020, Glens Falls-based Sidekick Creative won the contract to produce the Games’ logo.

“That was my custom illustration,” said Will Fowler, co-owner with Kara Greenslade of the fiveyear-old business. “After that we had a really good working relationship with Adirondack Sports Coun-

cil and the Games’ organizing committee. They had a lot of marketing needs so we dove right into other stuff.”

Now, every Olympic venue is adorned with big, splashy designs Sidekick Creative produced, which depict the sport taking place there such as hockey and figure skating at the Olympic Center, and biathlon and Nordic skiing at Mt. Van Hoevenberg.

Sidekick Creative created the graphics and partner firms, Adirondack Sign Co. of Saratoga Springs and Bokland Custom Visuals of Albany, printed and installed them.

In addition, Sidekick Creative designed the handsome medals that winning athletes will wear. In the process, the firm has grown from three to five fulltime employees, with more hires quite likely.

“We’ve also made connections with a number of other potential clients, so the impact will go far beyond the Games with the networks we’ve built,” Fowler said.

With male and female competitors age 17 to 25, World University Games is the largest winter multisport collegiate athletic event anywhere on the globe. This marks the first time the winter Games have been held in the U.S. since 1972 when Lake Placid last hosted them. In 1993, Buffalo played host to the summer edition.

A completely new, environmentally-friendly refrigeration system has been installed at the Olympic Center for its three indoor ice arenas and outdoor speed skating oval. At the Ski Jumping Complex, the landing hill has been modified to accommodate modern jumping techniques and equipment.

Also, a gondola built for the 2000 Winter Goodwill Games has been retrofitted with a new engine and cars, a new chairlift services beginner terrain and new automated tower guns, which adjust based on humidity and temperature conditions, make a great deal more snow, which is critical during this era of climate change marked by volatile weather shifts.

“It’s all part of the lead-up to the World University Games, but something that’s also going to carry on for the skier experience here at least another 20 years,” said Andrew Weibrecht, a two-time Olympic medalist and Lake Placid native.

Only small sections of both Whiteface and Gore mountains will be set aside for racing, meaning daily visitors will still have a full complement of trails to enjoy for skiing and snowboarding.

“The only difference is that there will be a security checkpoint and some designated parking for athletes,” Metzger said. “Ski ticket holders can watch the events. Spectators without a ski pass can purchase tickets online (lakeplacid2023.com) starting at $15.”

Study: Capital Region Employers Hire More Despite Recruiting, Economic Issues

Neither ongoing recruiting challenges nor the threat of a potential recession will deter Capital Region employers from moving ahead with plans to increase hiring in 2023, according to the fall 2022 Alaant Hiring Index released by Alaant Workforce Solutions, the region’s leading professional workforce services firm.

The Alaant Hiring Index is based on a survey conducted between Nov. 9 and Dec. 11 that generated responses from 95 Capital Region hiring and human resource managers—48 from companies with 100 or fewer employees, and 47 from firms with more than 100 employees.

Asked about 2023, 68 percent were very optimistic or optimistic about job growth, with 26 percent unsure and only 6 percent very pessimistic or pessimistic, according to Alaant.

Additionally, 55 percent expect hiring to increase in the new year, with 36 percent seeing no change and only 9 percent forecasting a decrease. And, 76 percent of employers say concerns about a possible recession will not reduce their plans for hiring.

Tempering those expectations are the continuing difficulties in recruiting top professionals: 70 percent of employers expect hiring to be very challenging or challenging in the first six months of 2023, though 25 percent see the situation improving. The biggest challenge remains a labor shortage, cited by 47 percent of employers, which more than doubled other contributing factors, such as salary and wage demands (20 percent) and a skills gap (14 percent), the study indicated.

“Employers are optimistic about hiring and job growth in the new year, even as the challenges in recruiting and retaining top talent remain,” said Miriam Dushane, managing partner of Alaant Workforce Solutions. “We’re encouraged to see employers responding proactively by raising salaries, supporting hybrid and remote work, allowing flexibility, and streamlining their hiring processes. They will need to double down on those efforts in 2023 to attract, hire and keep great employees in a job market that is historically tight and extraordinarily competitive.”

A vast majority of employers, 77 percent, said they are increasing salaries to attract and retain

employees, and 59 percent say they’ve altered their recruiting process to expedite hiring.

However, when asked if they’re considering remote workers to fill open positions, employers remain hesitant: 41 percent say yes, while 59 percent say no. In addition, 39 percent say the remote and hybrid work trend has made it easier to hire, with 42 percent seeing no change, and 19 percent saying it’s made hiring more difficult.

As the new year gets underway, just over half of employers – 51 percent – say they have transitioned to, and will remain, a hybrid and/or remote workplace. Of the rest, 29 percent have mandated an in-office work policy for 2023; 3 percent plan to during the year; and 17 percent are still discussing their policy.

Looking back at 2022, 72 percent of employers saw hiring increase from the previous year; 19 percent saw no change; and 9 percent reported a decrease in hiring. IT topped the list of fastestgrowing jobs at 14 percent, followed by engineering (13 percent) and healthcare (10 percent). A majority of employers, 58 percent, said they are primarily recruiting employees from within their region.

The Alaant Hiring Index was launched in 2015. It is a measure of the Capital Region’s job market, used by organizations across a wide range of industries to inform their recruiting strategies, according to the company.

The next index will be released in Spring 2023.

For more information, visit www.alaant.com.

Over the past decade, Alaant said it has helped more than 400 Capital Region companies attract, acquire, engage and retain over 4,000 elite employees through its innovative practice areas, such as Talent Acquisition Partnerships and Employer Brand Strategy. It has been recognized by Forbes for five consecutive years (2017 through 2021) as one of America’s best recruiting firms. It has received the Best of Staffing Client Award and Best of Staffing Talent Award from ClearlyRated for the past six and four years, respectively; was selected by HR Tech Outlook as one of the nation’s Top 10 Employer Branding Consulting/Services Companies for 2019; and was named by NYS-SHRM in 2020 as one of the Best Companies to Work for in New York.

SARATOGA BUSINESS JOURNAL • JANUARY 2023 • 5
The World University Games are coming to
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Saratoga-Based aptihealth Names Koehler As Its President And Chief Operating Officer

The health group aptihealth, a tech-driven behavioral healthcare provider built for higher acuity care based in Saratoga Springs, has named Tim Koehler as president and chief operating officer.

Koehler was chief operating officer at Bluestone Physician Services, where he spearheaded the company’s market expansion and transition from fee-for-service to value-based care, including the creation of Bluestone ACO.

At Bluestone, Koehler built and led teams responsible for on-site medical care for high-risk patients living in residential care settings. As CEO and founder of Bluestone ACO, he created one of the highest performing ACO’s in the country when measured by savings per beneficiary.

Prior to Bluestone, Koehler spent nearly two decades at UnitedHealth Group (UHG), the 11th ranked company on the 2022 Fortune Global 500, in executive and management roles, the last of which was as president of the Diabetes Prevention and Control Alliance (DPCA). At DPCA, Koehler lead development of the business model to support all core operational functions including call center, claims, eligibility, payments, network operations, fulfillment, capacity planning, product development and a proprietary technology platform.

DPCA contracted with 27 UHC health plans and five non-UHC plans including three independent BCBS plans and over 350 self-funded employers.

“I am grateful to our entire aptihealth team for their dedication and hard work in helping us build a powerful, high-impact behavioral healthcare company,” said Dan Pickett, CEO of aptihealth. “With the addition of Tim, a seasoned health care expert who brings a relentless focus and strong track record of driving growth, profitability, innovation and transformation; we are positioned well to accelerate the value we bring to all of our stakeholders.

“Tim’s success at building a value-based care business that served a difficult and complex population—similar to aptihealth’s—will enable us to effectively and profitably build upon our mission to transform care.”

Koehler joins aptihealth at a time of significant growth, having served more than ten thousand patients for leading national and regional health plans. aptihealth expects to more than double its patients in 2023, with a majority covered by value-

based care contracts.

“From the first discussions with the team at aptihealth, I was impressed by the deep clinical science, compelling care models, and the rich and uniquely interactive technology platform the company created to serve individuals with complex behavioral healthcare needs. I am proud to be joining an organization with such a critical mission and with so many passionate employees. I look forward to guiding aptihealth as it accelerates its value-based care transformation and next stage of rapid growth.”

Officials at aptihealth said the company is improving higher acuity behavioral healthcare for populations who need it most—one patient at a time. Its virtual-first model and proprietary screening, assessment, and treatment programs give members fast, convenient access to precise, personalized care.

The company employs over 200 people and has raised over $65 million in funding from international private equity firms. Its care program and data insights are driving breakthroughs in mental health understanding, treatment, outcomes, and cost reduction.

Learn more at: www.aptihealth.com.

SARATOGA BUSINESS JOURNAL

Owner Of Sans Souci Tattoo In Ballston Lake Brings Along Her Training In Fine Arts

After more than a decade spent working at the Dead Presidents Lounge in Albany, tattoo artist Krystal Ingram has opened her own studio in Ballston Lake.

Sans Souci Tattoo is located at 318 Ruhle Road South, just off Exit 11 of the Northway.

According to Ingram, she became interested in tattoos after her uncle got one when she was ten years old.

“I thought it was the coolest thing I had ever seen in my life. I became super fascinated by tattoos and the whole culture surrounding them. My parents were completely not into tattoos at all, and I think that’s what made me want to be a part of it even more.”

A graduate of Albany High School, Ingram received a B.F.A. in print making from SUNY New Paltz in 2011. Two weeks after graduating, she began working as an apprentice to a tattoo artist at the Dead Presidents Lounge. After two years as an apprentice, she began building her own client base.

“I always felt like I wanted something that I could call my own, and I wanted to build a community that I could call my own as well,” she said. “I also knew that it was a good idea from a business perspective. I don’t have a retirement plan, so I need to invest wisely.”

The property at 318 Ruhle Road went on the market at the same time that Ingram and her husband, Jake, were looking for an investment property. A former youth pastor, Jake is the owner of Round Lake Remodeling. His company specializes in kitchen and bathroom remodeling. After driving by the property, Jake realized he had found the perfect spot for the tattoo studio.

They purchased the 5,000-square-foot, twostory mixed-use building at the end of July. A former pediatrician’s office, it features office space on the first floor and two apartments on the second floor.

Ingram chose the name for her studio in part to honor local history. The Sans Souci Hotel, once one of the largest hotels in the United States, operated in Ballston Spa during the 1800s.

“San souci also means ‘without worries,’ and I feel like that’s a nod to the carefree attitude that really pushed tattooing forward—the kind of anti-culture artists and rebels that made tattooing what it is today,” she said. “That’s what got me into tattooing, and it’s what I want my shop to be about. I feel like being true to yourself and true to following your path is really important.”

Since opening in July, Ingram said the studio has generated a lot of interest.

“Once I put my sign up out front a few weeks after we opened, I had so much traffic just from the neighborhood. And that’s what I want—I want people from the neighborhood to come in and feel like my shop is approachable.”

It is out of a desire to build community that Ingram plans to host future events that are designed to give back the local community. She also plans to bring on additional tattoo artists in the future.

When it comes to her work, Ingram draws on her fine arts training when designing custom tattoos. She also works from drawings that her clients provide.

San Souci Tattoo is open Wednesday and Thursday noon to 8 p.m. and Friday and Saturday from 10 a.m. to 6 p.m. Appointments can be made by calling 518-289-5333.

6 • SARATOGA BUSINESS JOURNAL • JANAURY 2023
Tim Koehler is president and chief operating officer of aptihealth. Courtesy aptihealth Krystal Ingram is the owner of Sans Souci Tattoo located at 318 Ruhle Road South in Ballston Lake. She purchased a 5,000-square-foot, two-story mixed-use building there in July.
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Employment Training For Adults Program Gets Grant To Help People Enroll In Its Sessions

Business Briefs

The Ballston Spa Public Library and the Friends of the Library (FOL) partners are launching a capital campaign called Funding Our Future – Brick by Brick and Book by Book.

The money raised through the campaign will be used to renovate, redesign and increase the library’s role in the community.

The total cost of the proposed project is approximately $3 million, a sum that includes built-in inflation costs. The capital campaign aims to raise approximately $750,000 of the total costs. The campaign has already applied for more than $450,000 dollars in grant awards.

The project includes the addition of a reading room and local history room, an enhanced children’s area, teen space and a renovated community meeting space. Funds will also be used to improve accessibility, use of technology and energy sustainability.

The completion of the project is expected to result in an increase in the number of public programs offered as well as the number of programs hosted at the library by partner groups.

Additional information about the campaign will be shared on the Friends of the Ballston Spa Public Library Facebook page, and the Ballston Spa Public Library website as the weeks progress.

presented by Newsweek and Statista Inc., and based on available key performance indicators derived from corporate social responsibility reports, sustainability reports, and other reports as well as an independent survey.

The key performance indicators focused on company performance in the environmental, social, and corporate governance areas, while the independent survey asked U.S. citizens about their perception of company activities related to corporate social responsibility. The final list recognizes the top 500 most responsible companies in the United States, spanning 14 industries.   GlobalFoundries’ ESG efforts were also recently evaluated by Morningstar Sustainalytics, which recognized the company with a “low risk” rating and ranked the company 15th among the 329 rated companies in the semiconductors industry group.

The Saratoga County History Center announced that Brookside Museum exhibits will be closed through the end of March.

The Gene Haas Foundation recently awarded the local Employment Training for Adults (ETA) Machine Tool Technology program a grant to assist with student tuition and program needs.

ETA is affiliated with the Washington-SaratogaWarren-Hamilton-Essex BOCES. The grant will help people enroll in the Machine Tool Technology program and prepare themselves for a successful career.

Dave Sharpe, local sales engineer with Allendale Machinery, recently presented the check to ETA instructor Jason Viele and Michelle Stockwell, administrator for adult programs.

Allendale Machinery Systems supplies manufacturing solutions for local businesses with a main product provided by Haas Automation, the largest supplier of American-made machine tools in the country. Both Allendale and Haas are big supporters of education.

“If you look around, you won’t see a product that didn’t have a machine tool involved in its creation,” Sharpe said. “For example, your toaster, refrigerator, or furnace all had machine tools making components or tooling. Medical products like the MRIs used in diagnosis are made locally. The list seems endless. The demand is behind the supply for trained people to

operate the manufacturing equipment for industry.

"The ETA Machine Tool Technology program has proven itself one of the best in helping its graduates to better their careers as well as the companies they work for.”

The Gene Haas Foundation was established in 1999 by Gene Haas, founder and owner of Haas Automation, Inc.

Seeing a growing need for skilled manufacturing employees industry-wide, the foundation’s mission also includes support for manufacturing training programs throughout North America and beyond. By providing scholarship grants, sponsoring individual and team computer numerical control (CNC competitions) and partnering with the best CNC training programs in the world, the foundation helps expand the availability of high-quality manufacturing technology training worldwide.

Kathy Looman from the Gene Haas Foundation was given the priority of helping schools such as Washington-Saratoga-Warren-Hamilton-Essex (WSWHE) BOCES to succeed.

More information about the ETA Machine Tool Technology Program can be found online at www. etaprogram.org/apps/pages/MachineTool.

To donate community members can either send a check made out to Friends of the Ballston Spa Public Library at 21 Milton Ave., Ballston Spa, NY 12020, Attn: Friends of the Ballston Spa Public Library, or visit the website bspl.sals.edu.

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GlobalFoundries has been named to Newsweek’s list of “America’s Most Responsible Companies 2023.” GlobalFoundries’ inclusion on the list, which was announced today, is the latest recognition of the company’s longstanding commitment to environmentally sustainable manufacturing and corporate responsibility.

“ESG is a priority for GlobalFoundries, and we are pleased to be recognized by Newsweek on its list of America’s Most Responsible Companies 2023,” said John Toy, chief of ethics and sustainability at GlobalFoundries. “At the same time, we recognize there is still much work to be done.”

America’s Most Responsible Companies 2023 is

The museum will be doing renovations and installing an immersive exhibition on the history of Saratoga County to open in the spring.

Officials said the new exhibition should result in a steady audience and sustainable financial support for the center. “The Saratoga County Board of Supervisors’ fiscal support will allow for an engaging orientation for residents and visitors about the county’s history and be the basis for developing new public and school programs. This development should lead to additional partnerships with cultural and educational institutions and increase public and donor awareness,” a statement said.

The center will carry on special events such as the presentation “Experts Next Door.” One of these presentations will take place Jan. 31 at 7 p.m. on Zoom and will feature Dr. Eliga Gould speaking on the “Global War for American Revolution.” In addition, the center has scheduled three “Saratoga History Happy Hours” as member-only events which feature local historians at the Real McCoy Beer Co. in Ballston Spa.

Visit the history center website at www.brooksidemuseum.org for more information.

Clark Chief Executive O cer Saratoga Regional YMCA Reads

SARATOGA BUSINESS JOURNAL • JANUARY 2023 • 7
BUSINESS JOURNAL ©2021 Saratoga Photographer.com
SARATOGA
Scott Michelle Stockwell, ETA administrator for adult programs, and ETA instructor Jason Viele, center, receive a check from Allendale Machinery local sales engineer Dave Sharpe. Courtesy ETA
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Health & Fitness

Local Hospitals Get High Marks For Patient Safety Procedures From

Two Albany Med Health System facilities— Saratoga Hospital and Glens Falls Hospital— have earned high grades for patient safety from The Leapfrog Group for fall 2022.

The two hospitals lead the Capital Region, with grades of A for Saratoga Hospital and B for Glens Falls Hospital. These high marks place both hospitals in the top 25 percent of New York state facilities for this report.

The Leapfrog Group is a nonprofit watchdog organization that serves as a voice for health care consumers and purchasers, using their collective influence to foster positive change in U.S. health care.

“Our Leapfrog score reflects our culture of safety and 24/7 commitment to protecting patients from preventable harm and errors,” Saratoga Hospital President and CEO Jill J. VanKuren said. “The A grade is a tribute to our team and a source of assurance to our patients, who can be confident they’re receiving care at one of New York’s safest hospitals.”

The Leapfrog Hospital Safety Grade assigns letter grades twice a year to nearly 3,000 U.S. general hospitals based on over 30 measures of patient safety. Th irty percent of U.S. hospitals earned the highest rating of A. Twenty-eight percent earned a B.

VanKuren and Glens Falls Hospital President and CEO Paul Scimeca view the Leapfrog results as an opportunity to share best practices for patient safety throughout the Albany

Watchdog Group

Med Health System.

“Quality improvement across the System occurs through collaboration. As we continue to work together, we are seeing many benefits,” Scimeca said. “The Albany Med Health System will continually evolve and improve in the future, and we look forward to working even more closely with Albany Medical Center, Columbia Memorial Health, and Saratoga Hospital.”

VanKuren emphasized the System hospitals’ shared commitment to excellent patient care and continuous quality improvement.

“Patient safety is a top priority for the entire System,” she said. “Our goal, through collaboration and sharing of best practices, is for all our hospitals to achieve the highest grade.”

Comprised of Albany Medical Center, Albany Medical College, Columbia Memorial Health, Glens Falls Hospital, Saratoga Hospital, and the Visiting Nurses, the Albany Med Health System is the largest locally governed, nonprofit health system serving northeastern New York and western New England. The system is the region’s largest private employer, and each member institution carries a centurylong tradition caring for our communities.

The Albany Med Health System has 1,520 hospital beds, more than 800 physicians, 125 outpatient locations, a children’s hospital, and research enterprise serving the three million people of our region.

Saratoga Hospital Mother/Baby Unit Gets $225,000 Donation For New Delivery Beds

The Flower & Fruit Mission of Saratoga Hospital is donating $225,000 to buy new labor and delivery beds to enhance the childbirth experience at the hospital’s Mother/Baby Unit.

Flower & Fruit Mission President Stephanie Collins announced the gift in December at the annual Snow Ball, the organization’s signature holiday party. The event netted $30,000 and honored recently retired Saratoga Hospital President and CEO Angelo Calbone for his 16 years of service to the hospital and the community.

The new beds will put the fi nishing touches on a $2.7 million unit renovation, which created a modern, comfortable birthing environment rooted in best practices for maternity care. The $225,000 is in addition to a previous Flower & Fruit Mission gift of $250,000 for the renovation.

“The Flower & Fruit Mission has helped shape women’s health care in Saratoga County for more than a century,” said Sarah Bunzey, RN, director of Women’s Health Services at Saratoga Hospital. “Every mother who delivers at Saratoga Hospital—and every baby born here—benefits from the Mission’s foresight and extraordinary generosity.”

The Flower & Fruit Mission was founded in 1904 to support maternity care at Saratoga Hospital. At fi rst, it provided flowers and fruit for new mothers and blankets, caps, and clothing for infants born at the hospital. More re-

cently, the organization has focused primarily on fundraising and has donated more than $1.5 million for women’s health-related services.

Examples include upgrades to the Mother/ Baby Unit, scholarships for aspiring health care providers, support for continuing nursing education, and resources for families of newborns.

“We take great pride in our longstanding commitment to Saratoga Hospital and the advances the Flower & Fruit Mission has helped bring to our community,” Collins said. “It’s especially rewarding to know that we’ve had— and will continue to have—a positive impact on generations of women and children in the Saratoga region. None of this would be possible without the generosity of our sponsors and those who attend our events.”

Major sponsors of the Snow Ball include the Adirondack Trust Co. and Stewart’s Shops/the Dake family.

Saratoga Hospital Foundation is the philanthropic arm of Saratoga Hospital, a member of the Albany Med Health System. The foundation secures, manages and distributes charitable gifts exclusively to support the mission of Saratoga Hospital.

To date, the foundation has raised more than $75 million for Saratoga Hospital programs and facilities, all of which benefit the people of the Saratoga region. For more information, visit www.SaratogaHospitalFoundation.org.

8 • SARATOGA BUSINESS JOURNAL • JANAURY 2023 SPECIAL SECTION SARATOGA BUSINESS JOURNAL
Saratoga Hospital earned high grades for patient safety from The Leapfrog Group for fall 2022. The hospital was placed in the top 25 percent of New York state facilities in the safety report. ©2023 Saratoga Photographer.com
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At the Flower & Fruit Mission’s Snow Ball fundraiser last month, from left, are Mary Solomons, Heather Mabee, Stephanie Collins, Jill VanKuren, Carly Connors, Sarah Bunzey, and Klare Ingram. Courtesy Saratoga Hospital

Skidmore Sports Project Has Donation From McCaff rey-Wagman-Wachenheim Families

Health Department Continues To Stress Flu Vaccinations For People Age 6 And Up

The state Department of Health continues to emphasize the importance of everyone aged six months and older getting a flu shot, with the Department’s latest report showing an additional pediatric death in New York, bringing the total to five so far this season.

“One pediatric flu death is already too many,” state Health Commissioner Dr. Mary T. Bassett said. “With yet another death being reported in New York, we urge every New Yorker, parent, and guardian to get themselves and their children their flu shot immediately. It is not too late to get the most important protection for yourself and your family possible against becoming seriously ill.”

The state’s new flu surveillance report, with data through Dec. 17, shows a total of 217,094 positive influenza cases across all 62 counties in New York have been reported to date. Additionally, there were 61 outbreaks in acute care and long term care facilities.

plies are available as needed.

Avoiding illness by getting the flu shot remains the most effective way to prevent infection and reduce the risk of severe illness for children and adults. According to research gathered by the CDC, vaccination has significant health advantages, particularly for people at risk of getting very sick, including:

Officials said it prevents people from getting sick with the flu, cutting the risk of having to go to the doctor by 40 to 60 percent. In children, the vaccine reduces the risk of severe, life-threatening influenza by 75 percent; decreases flu-related hospitalizations by 41 percent; and cuts the risk of emergency department visits in half.

Skidmore College is embarking on a new health, wellness, fitness, tennis, and athletics center, with the generous support of a family who has long supported the college.

A multigenerational family of Skidmore graduates with a legacy of support for the college— Ed and Sue Wachenheim, Amy Wachenheim McCaffery and Michael McCaffery, college trustee Kim Wachenheim and David Wagman—are offering the lead gift to advance the project.

The new center will bring together all aspects of student health and wellness support, including mental health and counseling; health promotion and education; physical fitness; and wellness across the mind, body, and spirit, in a holistic approach to student health within a single complex on Skidmore’s campus.

“We recognize that student health and wellness are of the utmost importance on college campuses today. Our family is proud to support Skidmore College in its efforts to sustain and strengthen students in all aspects of their lives, from mental health to physical fitness to athletics,” said Kim Wachenheim Wagman.

“We have a special connection with the college’s tennis program and student-athletes,” added Amy Wachenheim McCaffery.

President Marc C. Conner expressed appreciation for the family’s continued support.

“Over their decades of engagement with Skidmore, the Wachenheim family has developed a keen understanding of the College’s evolving needs. Their generosity reflects not only their deep and ongoing connection to the institution, but also an exciting vision for the future of health, wellness, tennis, and athletics here,” said Conner. “This transformational gift will enable us to realize our aspiration to support thriving and successful Skidmore students through an integrated, holistic approach to health and wellness.”

The new structure, to be built alongside the existing Williamson Sports Center, will include Skidmore’s Health Center, the Counseling Center, and Office of Health Promotions, currently located in satellite spaces across campus.

The new fitness center will serve the entire Skidmore community and combine state-of-theart equipment, including free weights and cardio, with dedicated spaces for exercise and wellness programming such as yoga, meditation, group fitness, martial arts, and spin. In addition, an NCAA-caliber tennis complex—including eight outdoor tennis courts and four indoor courts, varsity athletic training spaces, and additional athletic support—will form a major part of the project.

“This is a long-awaited project that will support everyone in the Skidmore community,” said Assistant Vice President for Student Affairs and Director of Athletics Gail Cummings-Danson. “We are committed to a facility that is welcoming and accessible to all. Diversity, equity, inclusion, and sustainability will be the guiding principles of this project.”

New locker rooms and team meeting rooms will renew the college’s commitment to the student-athlete experience at Skidmore while investing in athletics facilities for all, college officials said.

The current fitness center will be repurposed as a training facility exclusively for varsity athletics, enabling more dedicated space and programming for athletes while simultaneously creating space for recreational fitness users.

Foundational support for the project was made possible by a gift from Susan Kettering Williamson, for whom the Williamson Sports Center is named. That gift specifically supports the tennis complex that will be adjacent to the proposed health and wellness center. The new outdoor courts are scheduled to be completed in 2023.

Conner said the entire project, which will be LEED-certified in line with Skidmore’s longstanding commitment to sustainability, could be finished as early as 2024.

The announcement follows the completion of a comprehensive Campus Master Plan by the college community earlier this year. Skidmore’s board of trustees provided preliminary approval to the project in October and will review and finalize plans at its next meeting in February.

Outside of New York City, week-over-week lab-confi rmed flu cases are up 4 percent, rising from 34,599 cases to 36,047. The report also found that confi rmed cases in New York City dropped 19 percent, while overall hospitalizations were down 3 percent from the previous week ending the week of Dec. 17 at 2,709 hospitalizations across the State.

Nationally, the weekly U.S. surveillance report from the Centers for Disease Control and Prevention (CDC) estimates there have been 12,000 deaths across the country attributed to the flu so far this season, including 47 pediatric deaths. CDC’s report found an estimated 190,000 hospitalizations due to influenza, putting the cumulative rate at 6 times higher than the highest rate for this same time over the last decade.

Officials urged New Yorkers to take precautions to protect against the flu. Th is includes getting the annual flu shot and wearing a wellfitting mask, especially for those who experience symptoms or live with, care for, or are considered at the heightened risk of severe illness (children 5 years of age or younger, pregnant people, older adults, and/or those with underlying health conditions such as a weakened immune system, diabetes, heart and/or lung disease, and/or asthma).

To treat flu infections, there are antiviral medications that can be prescribed by health care providers, such as Tamiflu, which can reduce the length and severity of the flu. Amid reports of spot shortages in some areas, the federal government recently gave the state permission to tap into the Strategic National Stockpile to secure Tamiflu and ensure sup-

The health department said flu vaccination during pregnancy reduces the risk of being hospitalized by an average of 40 percent and helps protect the baby from flu for several months after birth, when babies are too young to get vaccinated. For older adults, the vaccine reduces the risk of flu-associated hospitalization by about 40 percent.

Among those with chronic health conditions, the vaccine is associated with lower rates of some cardiac events, as well as reducing the risk of hospitalization from flu-related worsening of lung diseases and diabetes.

The state is utilizing a number of tools to increase public knowledge about rising flu rates and the importance of vaccinations as a critical prevention step, including sharing information on social media platforms Instagram, Facebook and Twitter. The flu vaccine is also widely available, found at pharmacies, health clinics and physician’s offices across the state.

To locate a flu vaccine location, visit vaccines.gov.

In addition to getting the vaccine and wearing a mask when indoors or in crowds, simple preventative actions can help stop the spread of flu and other respiratory viruses:

• Wash hands often with soap and water for at least 20 seconds. If soap and water are not available, use an alcohol-based hand sanitizer.

• Avoid touching eyes, nose and mouth with unwashed hands.

• Avoid close contact with people who are sick.

• Stay home when sick.

• Cover cough or sneeze with a tissue, then throw the tissue in the trash.

• Clean and disinfect frequently touched objects and surfaces.

For more information about influenza in New York, visit NYSDOH’s flu website.

SARATOGA BUSINESS JOURNAL • JANUARY 2023 • 9
This aerial rendering of the new Skidmore health, wellness, tennis, and athletics center to be built at Skidmore College shows the building in the back and new tennis courts on the left. Courtesy Cannon Design`

Stock

Albany International Corporation 104.24 100.88 98.74 98.70 98.59

Arrow Financial Corporation 35.23 33.43 34.40 34.35 33.90

AT & T Inc. 19.02 19.09 18.49 18.31 18.41

Ball Corporation 55.81 53.56 51.32 51.63 51.14

Ballston Spa Bancorp, Inc 58.67 60.00 60.00 60.00 60.00

Bank of America Corporation 36.08 32.38 31.70 32.47 33.12

Best Buy Co., Inc 86.60 81.81 79.48 81.35 80.21

Citizens Financial Group, Inc. 41.70 39.81 38.33 38.90 39.37

Espey Manufacturing & Electronics Corp 13.42 13.44 13.42 14.02 14.20

General Electric Company 86.88 81.45 77.65 81.79 83.79

Hilton Worldwide Holdings Inc. 141.42 137.43 130.99 126.43 126.36

The Home Depot, Inc. 327.99 320.48 323.34 318.73 315.86

International Paper Company 37.10 36.08 35.61 34.73 34.63 KeyCorp 18.55 17.42 16.62 17.18 17.42

Lowe’s Companies, Inc. 214.84 201.77 206.14 201.88 199.24

Martin Marietta Materials, Inc. 365.73 356.94 348.22 338.59 337.97

M&T Bank Corporation 365.73 356.94 348.22 338.59 337.97

McDonald’s Corporation 273.40 272.04 266.12 267.57 263.53

National Grid Plc 62.46 62.33 60.73 60.84 60.32 NBT Bancorp Inc. 46.27 42.23 41.76 43.40 43.42

Plug Power Inc. 15.81 15.81 14.02 12.34 12.37

Quad/Graphics, Inc. 3.76 3.43 3.73 3.71 4.08

Starbucks Corporation 105.05 101.79 98.83 98.27 99.20

Sysco Corporation 85.33 82.23 78.68 78.09 76.45

Latham Group, Inc. 3.57 3.28 3.22 3.12 3.22

Target Corporation 164.16 152.28 146.45 143.15 149.04

The TorontoDominion Bank 68.59 66.35 63.25 64.98 64.76

Kaspien Holdings Inc. 0.82 0.74 0.71 0.59 0.56

Trustco Bank Corp NY 38.57 37.97 37.16 37.62 37.59

Verizon Communications Inc. 38.18 37.40 37.12 38.41 39.40

Walmart Inc. 153.22 145.31 142.75 143.77 141.79

With Business Going Strong, Cupola Coffee In Burnt Hills Expands Accommodations

Less than two years after opening Cupola Coffee in Burnt Hills, owner Cindy Turgeon is expanding her 227 Kingsley Road coffee shop. Plans are currently underway to expand into an adjoining 300-square-foot space.

Before opening Cupola in 2021, Turgeon operated Sgraffito Art Studio on Route 50 and worked as an art teacher for the Burnt Hills-Ballston Lake Central School District. Her goal at the time was to finance the opening of a coffee shop—an “artful café”—in Burnt Hills where she lives.

“Almost every other little town on the planet had a coffee shop,” said Turgeon. “We have such a great community that is so supportive, but we didn’t have a coffee shop.”

Turgeon spent close to five years putting together a business plan and educating herself on the coffee shop industry. She worked with the Small Business Development Center in Albany and attended the free workshops offered by the Community Loan Fund of the Capital Region.

“I wanted to open a place that anyone could just walk in and meet up with a friend. I also wanted a place where we could hang art and display work without it being a commission-based space,” she said. “I wanted to have something beautiful, and I knew it had to be right in the center of Burnt Hills.”

Turgeon had hoped to convert her Route 50 art studio into a coffee shop, but zoning restrictions made that impossible. Finding the right location required patience, and she ultimately found what she was looking for in the plaza located at the busy intersection of Kingsley Road and Route 50.

Turgeon, her three sons, and her husband, Scotia-Glenville physical education teacher Michael Turgeon, completely renovated the space with the help of friends.

“It was an empty space with gray walls and gray carpet,” she said. “My husband and I and one of my sons did the floors and the walls. My husband built the counter, I laid out the space, we created the kitchen. I painted the mural, put up wallpaper. We did everything from soup to nuts.”

Cupola opened in June 2021 while Turgeon was still employed by the district as an art teacher. Just six months after opening, the shop was so busy that she made the decision to end her 25-year teaching career.

“Right from the beginning business exceed what we thought it would be,” she said. “I love change. I love trying new things, and this was something I had hoped for and worked on for a very long time. So, I just went ahead and resigned.”

Cupola has an extensive drink menu which includes specialty coffees, lattes, espresso drinks, and drip coffees. Their private label coffee is sourced from a local roaster and available by the bag.

Because Cupola occupies just 700 square feet and has a very small kitchen, its food offerings are limited. In addition to baked goods, the menu features 16 different varieties of sweet and savory crepes. Crepes are made with a recipe that Turgeon developed herself. She also has a gluten free option.

“We also do build-your-own crepes. If we have the ingredients, we will put it in your crepe,” said Turgeon. “Our crepes are very filling, and we tend to load them up. They are pretty hearty.”

The art that is displayed on the walls at Cupola is available for sale. Artists pay no commission but often choose to make donations to one of the charities that Cupola supports.

Although the shop seats just 15, Turgeon hopes it will be able to accommodate 25 after the expansion is complete. A portion of the adjoining space will be used for an office and a staff area.

Cupola operates with a staff of 10 employees, and it is a true family business. Turgeon’s son Will McKenna, works full time at the shop, and her husband goes there each morning before school to get the coffee and baked goods started. Son Aidan McKenna works at Cupola on his college breaks, and youngest son Michael Turgeon helps out after school.

Turgeon has no plans for further expansion and said she is focused on enjoying the business that she and her family have worked so hard to build.

“It’s been such a happy experience and so fulfilling. I can’t say enough about our customers. The people who come in are so happy that we are here, and we get told that all the time.”

Cupola is open Monday-Friday 7 a.m. to 4 p.m. and Saturday 8 a.m. to 2 p.m. They are closed on Sunday.

10 • SARATOGA BUSINESS JOURNAL • JANAURY 2023
Price
Price Closing Price Closing Price Closing Price
Name Closing
Closing
12/02/2022 12/09/2021 12/16/2021 12/23/2021 12/30/2022
STOCKWATCH
FINANCIAL SERVICES 18
SECURITIES OFFERED THROUGH: LPL FINANCIAL / MEMBER: FINRA AND SIPC *DatasourcedfromMorningstar
REGIONAL
PROVIDED BY: ROBERT M. SCHERMERHORN, CFP SARATOGA
DIVISION ST.-SUITE 305, SARATOGA SPRINGS, NY 12866 (518) 584-2555
**Stockinvestingincludesrisks,includingfluctuatingpricesandlossofprincipal.Thisisforinformationalpurposesonly andnotintendedtoprovidespecificadviceorrecommendationforanyindividual.
Cindy Turgeon, husband Michael Turgeon and son Will McKenna at Cupola Coffee.
©2023 Saratoga Photographer.com

Retiring SEDC President

ed apartments, let alone buy a house.”

SEDC is currently working with the Mechanicville-Stillwater Industrial Development Agency to help bring an affordable housing project to fruition on Brickyard Road in Stillwater. The project, comprised of one-, two- and threebedroom units, is proposed by Waltham, Mass.based Dakota Partners.

It’s specifically designed for people who earn 30-60 percent of the area’s median income.

In Saratoga Springs, Liberty Affordable Housing of Rome (N.Y.), is pursuing plans for a 215-unit housing project near Saratoga Hotel and Casino, and the Cleveland-based NRP Group has already begun work on 202 workforce housing apartments off Route 9N near Saratoga Hospital.

Brobston said he hopes GlobalFoundries “pulls the trigger sooner rather than later” on Fab 8.2, as the massive facility will require about 3,000 construction jobs alone and Micron Technology, a competitor, has plans for a new chip plant of its own near Syracuse. This could take labor away from GlobalFoundries’ project, he said.

Brobston said he’s hopeful that GlobalFoundries site work will get under way this spring.

Looking ahead, Brobston said he expects most new business investment to occur along the Northway corridor as it has in years past. The greatest need is for flexible speculation space for light manufacturing or warehousing, “so if somebody came here they could get started rather quickly,” he said.

For example, MJ Properties of Clifton Park has obtained approval for several buildings totaling 350,000 square feet at Synergy Technology Park in Clifton Park. The company is pursuing plans for a similar 280,000-square-foot project on Tabor Road in Halfmoon.

“Those are the kind of things we need,” Brobston said. “We’ve lost opportunity because we haven’t been able to have these facilities ready.”

Originally from Steubenville, Ohio, Brobston

first came to Saratoga County in 1986 as regional sales manager for a West Virginia-based pallet, rack and shelving company. In 1995, he took a position as Clifton Park-Halfmoon director of economic development under a grant program through the Southern Saratoga County Chamber of Commerce. Previously, he ran his own printing and office supply business, and had worked as a purchasing agent and draftsman. This gave him the experience needed to join SEDC when a door opened there in March 1996.

“They were looking for someone who could talk with businesses and knew how to help them grow,” Brobston said.

Eighty percent of job creation comes from existing firms, not new entries to the marketplace, he said. That’s why SEDC spends considerable time, money and effort helping area employers grow.

For example, it played a major role in Quad Graphics’ acquisition of a new printing press that “kept them at a world class level,” Brobston said. “They hadn’t been investing as much in their Saratoga plant. We were concerned they’d eventually become antiquated and close up, leaving a 1 million-square-foot facility empty. So that retention was big.”

Several years ago, SEDC helped AgroChem, which makes a fungus-prevention foot bath for dairy cows, get a $5 million new plant built at Grande Industrial Park. Similarly, Greenfield Manufacturing Inc., which makes additives for gasoline and fuels, started out of garage in Corinth before moving to the Industrial Park where it built a new facility that’s been added onto twice, with SEDC’s assistance.

But after 10 years with SEDC, Brobston left in 2006 to become director of The Wesley Community Foundation. In 2008, he rejoined SEDC as the entity’s third president, following the resignation of former president Ken Green. It was a challenging time as it marked the onset of the Great Recession, the nation’s worst economic downturn since the Great Depression.

Five years later, Brobston and SEDC faced a

Ballston Spa Business & Professional Association Revives Its Chocolate Festival

The Ballston Spa Chocolate Fest is returning to the village for the first time since 2020.

The Ballston Spa Business & Professional Association announced the eighth festival that will take place on Friday, Feb. 3, from 4-8 p.m. throughout the village of Ballston Spa. There are sponsorship opportunities and the association is also calling for “chocolate chef” entries.

Area restaurants, bakeries, and chefs are all welcome to compete to showcase their talents and tastes by preparing small, samplesized chocolate offerings in three categories: dessert (sweet), savory, and chocolate beverage. These treats will be judged by those who attend the festival.

“We are so excited to bring Chocolate Fest back to Ballston Spa,” said committee member Nathan Ward. “Because of the COVID-19

greater trial when the Saratoga County Board of Supervisors cut the agency’s budget by $100,000, then eventually dropped all funding and contracted with a different economic development entity, the Saratoga Prosperity Partnership.

Some county officials felt SEDC was no longer effective at bringing new business and jobs to the area. In addition, SEDC refused to let supervisors sit on its board, fearing elected officials would try to push projects for their own towns and cities.

Brobston admits now that he considered ceasing operations, but felt there was too much at stake. Instead, he launched a five-year capital campaign, bolstered by $2 million from 63 large contributors. Membership fees from hundreds of SEDC business partners also kept the agency afloat, in addition to marketing fees it obtains for helping the Saratoga County, MechanicvilleStillwater and Clifton Park-Halfmoon industrial development agencies with various projects.

“We were able to keep helping businesses grow and reduced our staff from five to three people,” Brobston said. “We got a lot of projects

pandemic, we haven’t been able to host this event since February of 2020.”

While savoring chocolate treats, visitors can participate a variety of First Friday activities going on throughout the village, including live music, artist demonstrations and special promotions.

A complete list of events can be found at Ballston.org.

In 2020, the festival featured over 21 “sweet spots” throughout the downtown area. Officials said over 1,500 visitors attended the event.

The Ballston Spa Business and Professional Association, established in 1983, is a nonprofit organization committed to making the village a better place to live and work.

More information can be found at www. ballston.org

because we had been around, people knew our name and we did good work.”

Two years ago, the county restored $200,000 annually to SEDC and last March, seven years after its creation, supervisors voted to dissolve the Prosperity Partnership.

SEDC now has an $800,000 budget and Vice President Tori Riley is in charge while a search committee is in the process of finding a new leader. Interviews got under way in September and Brobston said he expects the next president to be named in the near future.

Brobston said he’s already received more than one offer to work for a local employer, but first he wants to start enjoying his well-deserved retirement.

“I’m going to take a few months and figure out what’s next,” he said. “I would like to take a rest for a while, that’s for sure. I got tired of dealing with the politics of the state of New York. Working with some of these things is very difficult. I enjoyed being the leader, but I’d like to do something where I’m not the leader. I just want to take time to relax and get away from it all.”

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Corporate Tax / Business Planning

Business Report

New Years Financial Resolutions

It’s that time of year when many of us promise ourselves we’ll go to the gym more, or learn a new language, or take up a musical instrument, or any number of other worthy goals.

But this year, when making New Year’s resolutions, why not also consider some financial ones?

Here are a few to consider:

Don’t let inflation derail your investment strategy. As you know, inflation was the big financial story of 2022, hitting a 40-year high. And while it may moderate somewhat this year, it will likely still be higher than what we experienced the past decade or so.

Even so, it’s a good idea to try not to let today’s inflation harm your investment strategy for the future. That happened last year: More than half of American workers either reduced their contributions to their 401(k)s and other retirement plans or stopped contributing completely during the third quarter of 2022, according to a survey by Allianz Life Insurance of North America. Of course, focusing on your cash flow needs today is certainly understandable, but are there other ways you can free up some money, such as possibly lowering your spending, so you can continue contributing to your retirement accounts?

It’s worth the effort because you could spend two or three decades as a retiree.

Control your debts. Inflation can also be a factor in debt management. For example, your credit card debt could rise due to rising prices and variable credit card interest rate increases. By paying your bill each month, you can avoid the effects of rising interest rates.

If you do carry a balance, you might be able to transfer it to a lower-rate card, depending on your credit score. And if you’re carrying multiple credit cards, you might benefit by getting a fixed-rate debt consolidation loan. In any case, the lower your debt payments, the more you can invest for your longterm goals.

Review your investment portfolio. At least once a year, you should review your investment portfolio to determine if it’s still appropriate for your goals,

risk tolerance and time horizon. But be careful not to make changes just because you feel your recent performance is not what it should have been.

When the financial markets are down, as was the case for most of 2022, even quality investments, such as stocks of companies with solid business fundamentals and strong prospects, can see declines in value. But if these investments are still suitable for your portfolio, you may want to keep them.

Prepare for the unexpected. If you encountered a large unexpected expense, such as the need for a major home repair, how would you pay for it?

If you didn’t have the money readily available, you might be forced to dip into your long-term investments or retirement accounts.

To prevent this, you should build an emergency fund containing three to six months’ worth of living expenses—or a year’s worth, if you’re retired— with the money kept in a low-risk, liquid account.

These resolutions can be useful, so try to put them to work in 2023.

‘Get A Sense Of Where You Stand’ Among Tips For Small Businesses Looking To 2023

BST & Co. CPAs, LLP, an area accounting and management consulting firms, has released a series of year-end tax tips designed to help small businesses prepare for filing season.

Dawn Doherty is a partner at BST & Co. and a certified public accountant and tax expert with more than 30 years of experience. She began her career with the Internal Revenue Service.

Doherty shared the following tax considerations for Capital Region residents:

• Get a sense of where you stand.

Many families will see smaller refunds when they file their 2022 taxes because pandemic-related tax provisions, such as the expanded child tax credit and the dependent care credit, have expired and these credits revert to pre-pandemic 2019 levels.

Although tax tables and the standard deduction have favorably changed with inflation, taxpayers may still not have enough tax withheld or otherwise paid in throughout the year to avoid a balance due at tax filing time. Check your latest pay stub for taxable wages and withholdings. If underpaid, make an estimated tax payment on or before Jan. 15.

The IRS has a tax withholding estimator on their website that can help with a simple calculation, but it may not be useful for complex situations, pension income, or for nonresident alien status filers.

If using a tax preparer or accountant, get in touch with them to notify them of transactions during the year, or changes in your circumstances.

• If you’re in business and planning to purchase assets such as vehicles or equipment, consider purchasing and placing in service before the end of 2022.

For tax year 2022, federal bonus depreciation of 100 percent of the cost is allowed for eligible tangible property used in a trade or business. That figure will be reduced to 80 percent in tax year 2023. The property must be both purchased and placed in service by year-end.

• If planning to make charitable contributions, bunch them into one tax year.

For those with itemized deductions such as mortgage interest, charitable contributions and taxes (capped at $10,000) amounting to less than the standard deduction for 2022, you may consider bunching up charitable contributions you would otherwise make across a few tax years into one year to maximize the tax benefit. Unlike prior years, there is no $300 ($600 for married filing joint) adjustment to AGI for charitable contributions, regardless of whether itemizing or using the standard deduction.

• Contribute to your retirement account(s).

If you are covered by an employer plan and have not fully maximized your 401(k), depending on your employer’s set up and

cycle time you may be able to make a lastminute change and increase your contribution before your last paycheck. For those with an IRA, self-employed plan or other qualified retirement plan, you still have time to contribute and have it count toward your 2022 taxes.

• Get organized and start gathering your records now.

Whether receiving your tax documents electronically or in paper form, set up your folders now to collect the documents you’ll need to prepare your tax filing; it will make tax time much smoother. For example:

Those who received a STAR check for property taxes will likely have the check stub to document the amount received.

Place a copy of your last pay stub for the year in the folder to compare to your W-2.

Stash your stamped paid property tax bills in the folder as you receive them.

If you used a Health Savings Account (HSA), it will be helpful to have your receipts for co-pays and medical expenses that were paid from or reimbursed from your HSA account in one place to validate the distributions.

It is also prudent to have a copy of any qualified education costs in the tax folder; this will help with figuring any tax credits the taxpayers may be eligible for, as well as verifying distributions from a 529 plan.

Many information documents, such as 1099s, W-2s, and 1098s are issued in January and early February. Save these important documents in your tax folder.

You want to ensure that your tax records are complete before filing. One item that’s new in 2022 is the 1099-K. This form is issued by third-party payment platforms such as MasterCard, Visa, PayPal, Venmo and Square for payments in excess of $600 for goods and services. These forms need to be sent out by payment settlement entities by Jan. 31.

12 • SARATOGA BUSINESS JOURNAL • JANAURY 2023 SPECIAL SECTION
BUSINESS JOURNAL
SARATOGA
Rob Snell, financial advisor, Edward Jones Financial in Saratoga Springs. Courtesy Edward Jones Financial
• •
Dawn Doherty, partner, BST & Co. CPAs, LLP.
LLP.
Courtesy BST & Co. CPAs,

SARATOGA BUSINESS JOURNAL

Economic Outlook 2023

Every month, the Saratoga County Chamber of Commerce shares with its members what we call the “Insiders Report.” This email includes charts and analysis of economic trends as we analyze labor data, sales tax collections, the revenue per available room for area hotels, and residential real estate, all with a hyper focus on Saratoga County.

Our biggest takeaway from these reports in 2022 is that the only thing that has held back our local economy is the historic labor shortage we continue to face. According to the state Labor Department for instance, the unemployment rate in November 2022 for Saratoga County was 2.1 percent with just 2,600 people considered unemployed.

Throughout 2022, the number of individuals unemployed in Saratoga County has consistently been lower than ever before.

Similarly, the number of people employed in November of 2022 is 120,900, which is also the highest number of people employed in this month ever. Even with some limited workforce reductions now taking place, there are still so many local jobs unfilled that it would appear the labor shortage will continue into 2023.

The second biggest takeaway is that residents and businesses continue to spend money in our local economy, in spite of high inflation. From January through November 2022, Saratoga County collected a record $144.6 million in sales taxes, up 5.3 percent from the same time period in 2021, and up 23.5 percent from 2019.

The same is true for visitors coming to Saratoga. From January through November 2022, Saratoga County’s revenue per available room, or RevPAR, was $103.70, up 25 percent versus the same time period in 2021 and up 11.7 percent versus 2019. Local hotels continue to see an increase in overall revenue with total occupancy up nearly 13 percent versus 2021 and just 2 percent below 2019 figures.

And while national trends suggest a slowdown in the residential real estate market, Saratoga County is again demonstrating tremendous resilience. From January through November 2022, the Greater Capital Association of REALTORS reported that there were 2,776 closed sales in Saratoga County. This sales activity is nearly identical to 2020 and 2019 but is down 10 percent from the same time period in 2021.

The number of new listings during this same time period is also down, and as a result, the median sales price of $388,000 for a home in Saratoga County year-to-date in 2022 is still up just over 10 percent. At least through the first 11 months of 2022, the number of days a home for sale is on the market continues to decline and the percent of original list price received remains above 102 percent.

With this strong foundation for success, our hope in 2023 is that we can finally move from surviving to helping Saratoga County to thrive for years to come. The Saratoga County Chamber is working with the Adirondack Regional Chamber, the Saratoga County Capital Resources Corporation, and National Grid to create a new talent recruitment campaign uniting three of New York state’s best brands—Saratoga, the Adirondacks and Lake George. We simply have to grow our population to help alleviate the labor shortage for our economy to thrive.

For Saratoga County to thrive, we have to help our locally owned businesses to succeed and it is safe to say that no organization does more to support small businesses than the Saratoga County Chamber of Commerce. Our Love Our Locals campaign has incentivized thousands of local residents to shop and buy local, and in 2023 our Board of Directors has authorized us to re-launch

Small Business Owners Council.

But for Saratoga County to really thrive, we also need to think about helping everyone. That’s why our advocacy is focused on building more workforce housing so more people can live and work in our communities. It’s why the Saratoga County Chamber has been a leading advocate for more public transportation and CDTA’s Flex service, and it’s why we hope this service will be expanded beyond Mechanicville, Clifton Park and Halfmoon.

Outlook 2023

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We can help create events with a deeper purpose. This is where Discover Saratoga comes in. The mission of the Saratoga Convention and Tourism Bureau, operating under the Discover Saratoga brand, is to deliver a positive impact on the local economy by promoting and marketing Saratoga Springs and Saratoga County as a world-class destination for meetings, conventions, and groups.

We serve as a hub that connects visitors with local venues, and the establishments managed by our 500-plus members. As a key economic development engine for our community, we drive millions of tourism and event dollars into our local economy. This makes our community stronger, helping our families, our friends, and our neighbors.

In order to stay competitive, one challenge that we still face is workforce development. With the high volume of travelers enjoying our destination, worker shortages are straining the ability of the hospitality industry to keep up. Hotels, restaurants, retail, and small businesses in general continue to struggle to hire enough people. We support eliminating caps on the national H2-B visa program and creating more workforce housing in our local communities as a start.

If we are to succeed in creating, sustaining, and retaining a viable workforce that can support the current and future needs of our local

community, we must continue to approach workforce development as a major priority.

With a solid foundation of group business, and community events on the books again, we think this year will be strong. Leisure travelers will continue to look for Saratoga as a respite since we fully expect to be 100 percent open again.

Growth in 2023 is not guaranteed, we will have to compete for it and earn our way to success. But I am confident in our team, and our resilient community.

SARATOGA BUSINESS JOURNAL • JANUARY 2023 • 13 SPECIAL SECTION
our Todd Shimkus, president of the Saratoga County Chamber of Commerce. Darryl Leggieri is the president of Discover Saratoga. Courtesy Saratoga County Chamber of Commerce Courtesy Discover Saratoga

The year 2022 was clearly a strong year for real estate in Saratoga County and surrounding areas.

We experienced near record average price for homes as well as record turnaround time from day-of-listing to sold. The average sales price was 100.1 percent above asking pricing for 2022.

Headwinds heading to 2023 are primarily driven by the Federal Reserve’s decision to stage interest rate increases to stop inflation. These rates have doubled the cost of borrowing for homeowners in the past four months. The cost of borrowing has had a dramatic impact on real estate sales and additional rate increases are anticipated in early 2023.

Current fi xed rates at 6.25 percent has had a more dramatic effect on first-time home buyers and slowed construction from buyers trading up to new construction. This trend is anticipated through the first six month of 2023, which will continue to moderate our industry.

It is my hope that inflation will diminish as we head toward summer and the Federal Reserve will slightly reduce interest rates. This should stimulate the economy and hold off a deep recession as experienced in 2008.

The finance community has combated these rate increases by providing flexible rate loans for 5 to 10 years that are becoming more popular in recent months. For a veteran like myself, I remember selling a home in the fall of 1981 and celebrating after the closing that the buyer had a fi xed rate of 17 percent.

How times have changed.

I am confident our Federal Reserve will not conform to this tactic and moderate rates, and flexible terms will remain the norm in 2023.

The real challenge at hand is the shortage of available homes for sale in Saratoga County. We also do not have enough adequate options for our seniors.

Our range of available apartments that are “affordable” is growing, but is still limited. Local government is aware of this issue and I hope makes it a priority to continue to pursue quality, affordable care and housing for our seniors.

Entry-level homes for first-time homeowners is also a driving need. Most recently, an alarming statistic shows these new homes are the target of investors for short- and long-term rental platforms like VRBO and Airbnb. This competition clearly hurts many families and will continue until our local government finds a way to regulate this rental business environment.

These regulations include inspection, licens-

ing, and collection of all appropriate taxes to support our infrastructure. Communities that have successfully dealt with this dilemma include Lake Placid, Stone Harbor, N.J., and Newport, R.I.

The good news is that our local economy stands on many legs.

Skidmore College, Empire State College, and Hudson Valley and Adirondack community colleges make up a solid educational foundation. The New York Racing Association, Saratoga Gaming and Raceway, and Saratoga Performing Arts Center provide diverse entertainment options. The City Center Authority, Saratoga County Chamber of Commerce, and the Saratoga Convention Bureau will continue to drive hospitality and tourism throughout Saratoga County.

Several outstanding community-based companies provide much-needed employment and philanthropy in Saratoga County. Stewarts Shops, Saratoga Eagle, Adirondack Trust Co., The Fort Miller Companies, DA Collins and Saratoga Hospital are among the great corporate partners dedicated to our community and dedicated to giving back to many charitable organizations.

We continue to see local business groups prosper in Saratoga and new commercial expansion is planned as more people understand the value of living and working in Saratoga County.

I, for one, remain optimistic for a healthy and prosperous real estate market in 2023. Location and creative financing will help homeowners find that special place. As the average residence changes ownership every seven to 10 years, it is important to be in the game and know how to take advantage of the current market. You will be glad you did.

Roohan Realty will strive for excellence as it pertains to customer service, finding creative solutions for every homeowner or investor.

Creating Saratoga County’s economic development future has been our mission for over 44 years of existence. Working with SEDC to create and maintain our economic vitality are many partners—Saratoga County and local governments, regional businesses large and small (across industry sectors), our Industrial development agencies (IDAs), CEG, universities, colleges, career/tech educators and our K-12 school districts—to name a few.

SEDC has been fortunate to have such solid partnerships that have made propelling business and responsibly growing our county’s vibrant and diverse economy. One of those partnerships has been with Dennis Brobston. He let us know a few months ago that he is looking to fi nally slow down a little.

We will miss Dennis immensely. As leader of our organization for the last 15 years and part of the SEDC team for over 25 years his dedication, expertise, wealth of knowledge, humor, relationships with peers and members and his endless recollection of projects and their history has been an instrumental asset in our success. True to his character, he has laid the foundation for our organization to continue successfully without interruption.

SEDC, with our partners and our stakeholders, continues to evaluate, qualify and launch projects. In 2022, our efforts delivered another $45.6 million in new investment that retained 35 jobs, created 217 new positions and added just over $13 million in new payroll. Th is is in addition to the previous two years, when we have supported $232 million of investment, creating over 629 jobs with over $38 million in new payroll while retaining 730 existing jobs.

Working with the county and local leaders, departments, utility companies and stakeholders a resiliency study was completed in 2022, via a grant supplied by the Capital District Regional Planning Commission. In 2023, SEDC will utilize this information as we work to create more product (pre-zoned sites and buildings) eyeing this type of growth.

You can expect more of these impressive results in 2023.

The Saratoga County Board Of Supervisors adopted a 2023 budget that provides a 5 percent reduction in the property tax rate. It cuts government spending by $3.2 million, with no reliance on reserve funds. Th is sound fi scal management of tax payer dollars elevates our message and position to compete for projects that otherwise were not being considered in New York state.

We will continue to promote Saratoga County across the state, throughout the nation and around the world as a place that knows and grows world class businesses.

We will spotlight our inventory, utilizing our global networks and spheres of influence, to attract complimentary industries to our thriving and diverse ecosystem.

For instance, on our YouTube station we have short videos on education, workforce, healthcare, history, recreation, industry and

commercial sites available. Fresh, professional content is added regularly.

We will continue to retain existing business by helping them to confidently continue investing in their locations and continue employing (or adding more positions) our family, friends, neighbors and students with good paying jobs, and career pathways at companies they could potentially retire from.

Most companies know us before they need us or are referred by a partner or stakeholder. We are always available to share information or connect them to an organization or department that can. Th at’s what we are all about. Providing expertise with a wealth of knowledge of programs, processes and deliverables that can be relied upon.

And we will continue investing to grow our sites and building inventory and continue to provide invaluable resources to all industries and businesses in our county.

Growth doesn’t just happen. It happens by design, fortitude, patience, followup and more fortitude. The SEDC stakeholders play a vital role in supporting our efforts to expand and launch these businesses.

We understand the competitive aspect in site selection and we have the experience and deliverables needed for us to compete. It takes commitment to jump in and engage when we are hosting site selection tours and retention visits. SEDC stakeholders and partners are second to none in our program to serve the companies our county.

The year 2023 is positioned to be as prosperous as the last few years for Saratoga County. We will continue supporting developers as they design and prepare industrial parks and spec buildings, while also supporting the diverse green technology sectors, manufacturing, agriculture and supply chain projects.

We will work with our community leaders to provide solutions addressing the affordable housing issue. We will continually stress how we can help businesses already operating here and those that wish to locate here. As we always have, you can count on SEDC to operate inclusively with positivity and purpose.

14 • SARATOGA BUSINESS JOURNAL • JANAURY 2023
Outlook 2023 Continued From Page 13
Tom Roohan is owner of Roohan Realty in Saratoga Springs. Courtesy Roohan Realty
Courtesy SEDC
Tori Riley, vice president, Saratoga Economic Development Corp.

Despite the concerning job cuts, recent reports suggest that workers will continue to have the upper hand in the labor market. Recruiters and hiring managers will need to become more proactive, or aggressive, in their search for toptier talent. Job seekers have their sights set on the total package, the most prominent being enjoyment and fulfi llment in their role, in addition to a hearty salary and benefits package.

The year 2022 brought about many workforce trends, the most considerable being the availability of remote work. While offering remote work may continue to be an option with some companies, especially within IT and technology, it is not as commonplace as it was two years ago.

More and more companies are heading back to the office. There has been a gradual shift from working at home to being in person, many companies are or have been requiring their employees to spend a significant amount of time in the office.

While making this transition to in-office requirements, companies are now more cognizant of employees’ circumstances, and some will continue to offer a hybrid schedule. These employers willing to offer individuals a more robust work-life balance and make accommodations for working parents will lure more highly qualified and desirable employees. Measuring and understanding employee well-being is becoming a vital way to attract and retain top talent.

Salaries have increased minimally by at least 8 percent, yet higher pay remains one of the leading reasons employees seek new opportunities. Due to inflation and rising living costs, employers and companies have had to adjust accordingly to keep and find highly qualified individuals.

SHRM Online stated that more than twofift hs of organizations surveyed in the latest Salary Budget Planning Report have adjusted or will be adjusting salary ranges more aggressively to keep up with the competitive labor market. Companies that are more proactive, investing in higher compensation and benefits will be able to draw more eyes to their open positions and readily increase the number of applicants.

This will also be a year of greater transparency when it comes to the workforce. With other states passing salary and wage gap laws, pay transparency will become more prevalent. Employers will need to start including the salary range of job postings to even the playing field across all genders, races, and ethnicities.

Employees will seek out companies that are more open with their income/salary and their communication.

There will be a gradual shift from keeping employees in the dark and bringing them into the light.

Turnover rates will continue to be on the rise. A notable concern that prospective employees have is that they are simply unhappy with their current company and are rethinking their career choices. Countless individuals are even seeking new opportunities where their skills are easily transferable, often to an entirely new industry.

For example, the education field has seen one of its highest turnover rates. Teacher burnout is reaching an all-time high with educators actively deciding that their personal well-being is more important. A previous study by the National Education Association found that 55 percent of teachers are considering leaving the profession earlier than planned.

While education is just one example, there are many job seekers that are feeling overworked, underappreciated, and burnt out thus pursuing new options. Employers must prioritize the requests of employees by having conversations at the worker level, often intercepting problems before they occur, or otherwise offering a path toward an agreeable resolution.

We’ve noticed over the past year that employees will be looking to work for companies that offer greater workforce diversity and not just a weekly paycheck. Employers who continue to promote diversity, equity, and inclusion within their organization will increasingly attract a wider range of talented employee prospects.

The year 2023 will be another banner year of change and adaptation to current and new trends in the labor market. With the items above, you, and your company can step into the forefront of being an open, inclusive, transparent, and desirable place to work.

Many business leaders are predicting a recession to come our way soon, and the majority of those we have spoken with are at least preparing for an economic slowdown in 2023.

You wouldn’t think this would inspire positive vibes, right?

Not necessarily. If there is one thing that I have learned about economic downturns, it is that when they happen, those who invest in marketing are usually the ones that come out of the recession the strongest.

This is true for both of Mannix Marketing’s focuses: digital marketing and tourism marketing.

The digital marketing industry has been growing since the 1990s, and that should continue into 2023. As always, businesses will need to invest advertising and marketing dollars where their customers are - and now more than ever that’s online and on apps.

From SEO to PPC to social media marketing, industry leaders know that during economic dips they need to focus on their core business and their people. They will partner with marketing experts to handle the digital marketing. Failure to successfully market during these times can be devastating to companies for several reasons, including a) losing customers and market share during the recession and b) not being ready when the economy starts buzzing again.

An exciting trend that has been making some noise in the digital marketing world is the advancement of Artificial Intelligence (AI) and the possibilities this may bring us.

If you haven’t already heard about AI’s influence and some of the new tools out there (i.e., ChatGPT), you will in 2023. Our perspective at this point in time is that the currently available AI tools will provide a number of efficiencies to marketing professionals. This will be in the form of administrative support and simple tasks, streamlining processes, brainstorming content ideas, and more.

Some companies and marketers may try to use AI as a shortcut in developing content and making decisions. But they will be relying solely on unproven technology in its infancy, with no real idea of what is going into the decisions. Those companies will most likely stumble shortly after. It is the companies who grasp onto the real ad-

vantages of leveraging AI that will come out ahead at the end of 2023.

With inflation hitting the U.S. economy in the second half of 2022, it would be natural to think that people would be less likely to travel. That was not the case. And 2023 looks bright as well (although the global economy could greatly impact what actually happens with travel and tourism).

It seems that COVID and the initial lockdowns have left a mark on many of us when it comes to how we spend our time and our money. People are not only itching to make up for postponed and lost trips, but they are valuing experiences more than ever. Even with the current inflation levels, they are telling us that it is worth traveling and going on vacation, whether to new locations or old family getaways.

Research is showing that lodging guests would prefer to make their reservations directly with the accommodation.

This means that travel and tourism businesses can’t rely solely on travel website aggregators and other third party sites to generate brand awareness and sales. They need to make sure that their own website is being seen, and that guests can easily make a reservation once there.

So while we do see the need to be aware of what the overall economic environment has in store for 2023, when it comes to digital marketing and tourism marketing, businesses that want to be best positioned when the rebound happens will continue to invest strongly in these areas.

SARATOGA BUSINESS JOURNAL • JANUARY 2023 • 15 Expert electrical service. 518.389.7411 MrElectric.com/Queensbury Locally Owned and Operated Franchise Card Catalog Richard Kessinger Owner P.O. Box 187 Saratoga Springs, NY 12866 (518) 944-0359 saratogalawnmaintenance@gmail.com Outlook 2023 Continued From Page 14
Rene A. Walrath is the president of Walrath Recruiting Inc. Sara Mannix, president and CEO of Mannix Marketing. Courtesy Walrath Recruiting Inc. Courtesy Mannix Marketing

It was an interesting year in real estate in the Capital Region. There were several shifts in our market. Interest rates went up, home prices started to come down, and inventory remained tight.

On the bright side, homes are now staying active on the market longer. Rather than selling in a matter of days, properties are on the market for many weeks and in some areas for months.

There are fewer bidding wars. Buyers can take a breath when making offers on properties. Price reductions are starting to be a daily occurrence, something we did not see in early 2022.

Real estate is regional and varies across the country. Markets that saw a radical increase in prices over the past few years (such as Arizona, California, and Idaho) are currently experiencing the greatest decrease in prices as we move into 2023. However, the Capital Region has been fairly insulated from the extreme highs and lows. Prices will be somewhat steady this year, growing at a rate of approximately 3 percent according to Realtor.com.

The average home sale price in the Capital Region in late 2022 was $279,000.

A major portion of the population moving into the Capital Region comes from the Tri-State area— downstate New York, New Jersey, and Connecticut. Many of these are second home buyers, and many are cash purchases. There is desire for a better quality of life, with less congestion, more safety, privacy, nature, and outdoor activities.

The most sought-after homes have amenities such as in-ground pools, home gyms and spas, smart home technology and proximity to other family members. The Adirondacks and the local attractions of this area are also a major draw to buyers looking for investment properties to host as vacation rentals.

The uptick in mortgage interest rates in late 2022 drove many buyers out of the market, especially first-time homebuyers. A wiggle of 2 to 3 percent made homes unaffordable for many.

Rental rates also rose for this reason. Fortunately, mortgage lenders predict that we should see rates dropping throughout 2023. According to the Institute for Luxury Home Marketing, all indicators point to a lull, rather than a crash in our markets.

At NAR’s Real Estate Forecast Summit in December, NAR chief economist Lawrence Yun speculated that mortgage rates may have already peaked. He pointed to an “abnormally high spread between 30-year fixed-rate mortgages and treasury notes, which historically are more closely tied together.”

Yun is forecasting rates to settle at about 5.7 percent by the end of 2023 as the Fed slows the pace of its rate hikes.

He also notes that rates will be considerably lower than the pre-pandemic historical rate of 8 percent.

New construction has seen a rise in prices in our region. There are dozens of new developments from the Adirondacks through Albany. According to Robert Dietz, chief economist for the National Association of Home Builders, single-family home building will ultimately lead a rebound for housing and the overall economy in 2024 as interest rates fall back on a sustained basis, bringing demand back to the for-sale housing market.

Taylor Marr, deputy chief economist at Redfin predicts home prices will decline the most in pandemic boomtowns while markets in the Midwest and Northeast will hold up best. Housing markets in relatively affordable Midwest and East Coast metros, especially in the Chicago area and parts of Connecticut and upstate New York will hold up relatively well.

As we navigate through the changes ahead, the signs indicate that this should continue to be a good year for real estate in the entire Capital Region.

What a wild and crazy year 2022 turned out to be. I for one went into 2022 optimistic after coming off the COVID experience and thought we were headed back to a more stable business climate.

I could not have been more wrong and I’m sure many others would say the same. Being part of the construction industry for more than 46 years I can attest it was the most challenging year of my career for many reasons, labor being the biggest factor. Unfortunately, many of those same challenges will carry over into 2023.

According to the National Association of Homebuilders (NAHB), the housing industry will likely see a double digit decrease in 2023. Locally it may not be as bad, but down from the past few years. Multifamily construction remains strong both nationally and locally and that trend will likely continue into 2023. Remodelers remain active with a backlog of work to complete partially due to the country’s aging housing stock.

As we start the new year the big question is what’s lies ahead? There are many opinions, and the signals are mixed much like the previous year. Inflation continues to be a major concern fueled by ongoing supply chain snarls brought on by pandemic stresses as well as the Russia/ Ukraine war.

As a result, prices jumped on key construction materials significantly and getting them was even more challenging. In my opinion, supported by many industry experts 2023 will continue to be plagued by many of the same challenges we encountered in 2022 as stated before. However, as the forecasted housing demand softens, we should start to see the supply chain and pricing stabilize.

Inflation and mortgage rates should improve as a result as well. Unfortunately, the lack of labor shows no sign of improving anytime soon. Ultimately to cope with this growing challenge long term, construction companies will need to focus their investment of both time and money on identifying, fostering, and adopting technological advancements as well as fighting for more effective and efficient regulations over building. If these key areas are not addressed, many of the issues we are facing today will only continue to worsen.

Additional challenges stemming from permitting and zoning regulations are making it harder and more restrictive to build homes, especially affordable units. Even with laws in place, local regulators are often resistant to building affordable units.

A lack of labor in any industry has many implications, from decreases in productivity to increases in workers compensation claims. For the construction industry the labor shortage has led

to delays in project completion, quality control, increased builder costs and so much more.

The lack of labor in the trades is not a new issue however the problem is compounded due to many other industries now dealing with the same issue. Locally a Workforce Development Coalition for the trades was formed five plus years ago as a spinoff from the Saratoga Builders Association in conjunction with Curtis Lumber. The coalition comprised of over forty different members has focused on educating young people and adults on the opportunities within the trades and the benefits associated with them. It educates on the various pathways to enter the industry and the lucrative job opportunities and benefits available.

Although the coalition has had a lot of success locally with students, there are still many misconceptions about the trades that need to be overcome.

In summary, we will see construction costs continue to rise through 2023. Supply chain-related disruptions are expected to ease, but ongoing global labor and product shortages will hamper production and logistics capacity.

As a result, long lead times and material shortages will likely continue in the short term. The construction industry will continue to face numerous labor challenges, including a smaller talent pool, an aging workforce (1 in 5 workers is currently older than 55) and strong competition from other industries i.e., logistics. Construction demands are expected to remain healthy for the near term.

Although the possibility of an economic downturn isn’t off the table, pent-up demand for new construction, including a nationwide housing shortage and government infrastructure projects should help sustain activity.

16 • SARATOGA BUSINESS JOURNAL • JANAURY 2023
Outlook 2023 Continued From Page 15
Janet Besheer, licensed real estate broker and owner of Equitas Realty.
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Doug Ford is vice president of Curtis Lumber Company. ©2023 Saratoga Photographer.com Courtesy Curtis Lumber Co.

In the 12 years I’ve been involved in community leadership here in Saratoga County, one oft-overlooked consideration is the issue of mobility. The future generation may be at risk of being, in a practical sense, less mobile than their predecessors, and that will have significant impact on economics.

Have you ever driven along a major thoroughfare and come across someone on a bicycle, riding with you in the traffic? Watching that person pedal along, mere inches in some cases from the cars passing at 40-50 miles per hour, can be pretty scary.

Darlene McGraw from Halfmoon, a local advocate for mobility issues for those unable to use conventional transportation, was struck on her special tricycle last year as she traveled on Route 146 in Clifton Park. In an age where we hear so much about using alternative means of transportation to get to work or play, it still seems rather dangerous to actually do it. Bicycle trails, especially in Clifton Park, are excellent, but sometimes one must go onto the main roadway. The roads themselves are busy places these days, not particularly safe for bicycles or even for cars. Impatient drivers often pass on the double yellow lines, a practice that gets even more dangerous on rural roads when a farm tractor is being passed. Many serious accidents have happened due to this behavior and other bad habits.

In talking to people about the problems, the consensus seems to be that roads need upgrades, better alternative means of transportation need to be developed, or both. During the past couple of years, some had hoped that the rise of remote work would alleviate such issues, but the reality seems to be that the flexible schedules involved today only shuffle things around a bit, moving traffic to different roadways or other times of the day, while also increasing the demand for services which aren’t quite there yet.

For example, as legislative decrees produce the demand for more electric cars, is the infrastructure available to charge them?

There have been successes in alternative means of transportation. CDTA’s Flex system apparently is a hit in the small swath of Saratoga County where it has been implemented. Th is is good news for workers needing to get to Clifton Park from Halfmoon or Mechanicville, for instance.

The question is, can the footprint of this great initiative be expanded successfully and sustainably? There are very few alternatives to the automobile in Saratoga County. It isn’t very likely that we will ever see some sort of commuter rail service in the Capital Region.

Amtrak is bringing back the Adirondack this year, that will be a huge help, along with their other trains to New York City, Boston

and even Chicago. It would have been nice had the railway to North Creek still been available for travelers from New York City via Saratoga, but some of the communities along that rail line seem to have soured to the idea of restoring train service that far north, so the Saratoga, Corinth and Hudson Railway is limited to stops in our county, at least for now.

Fuel prices have been very high, though in recent weeks they have dropped considerably, in some cases close to pre-Pandemic levels. That is a good thing for drivers. But there is talk of rerouting or even eliminating segments of interstate highways in several cities in New York state, which if enacted will impact the ability of future drivers to reach their destinations efficiently unless smart planning takes place. Supply chains impact everyone too – more products are shipped to residences than ever before, and that takes up space on roadways, at traffic lights, in parking lots, etc. A wild card is, of course, the international political situation.

Some of the supply chain challenges mean that cars meant for customer purchases are tied up in manufacturing backlogs or needed repair parts are delayed in reaching the shop.

On the water, some of the new procedures on the Champlain Canal such as double-flushing of Locks impact the convenient movement of boats, though the jury is still out on its significance. One opportunity arising through the changing dynamics of transportation may be that marine cargo transportation using solarelectric vessels may become a viable alternative for some. The technology is proven and is already available.

Looking forward, electrons can do much of the “moving” for us, with more and better ways to work remotely or access needed data, perform vital tasks, etc. from anywhere there is decent cell service. Th is may be the silver lining, because for many, the post-Pandemic defi nition of “mobility” may be to use mobile devices to accomplish what used to be done exclusively at the office.

The rest of us will be on the roads headed to work, but perhaps they will become slightly less crowded ones.

Washington County New Business Registrations

Dennis

434 County Route 47 Argyle, NY 12809

Myco Buoys 14 Grove Street Cambridge, NY 12816

Sheri Johnsons Cleaning 54 Center Street Fort Edward, NY 12828

All Aspects Construction 7 May Street Fort Edward, NY 12828

Sweet Chiq 113 Holcombville Rd. Granville, NY 12832

Last year was quite a year to live, work and play in the Lake George region as we emerged from the pandemic, yet still reeling from various side effects.

Looking ahead for 2023 we are planning for much of the pre-pandemic typical cyclical business highs and lows that the tourism industry realizes due to seasonal travel patterns and annual events, yet still on guard for staffing and supply chain challenges and managing what we can for the best outcomes for our businesses, employees, and the community at large.

As we know, the tourism sector is crucial to our Lake George regional economy. The health of this industry affects all who live in the area, whether directly working in hospitality or not. Tourism dollars spent in the area help to offset the local tax burden by thousands of dollars each year. A robust tourism sector also means more attractions, dining, shopping and more to offer to residents as well.

The collaborative efforts that began among many cross-sections of our business community have continued to make our region stronger, nimble and safer. As customer service will continue to be a strong focus of business, we will see more focus on in-house training as each guest, for lodging, dining and retail are more important than ever to keep our business sustainable.

Based on successes of 2022, we are kicking off the year with major winter happenings.

As this is being written, we are experiencing warm weather that may impede our original hopes for January with the World University Games at Gore Mountain, Winterfest activities, Ice Castles and moving into February with Winter Carnival events.

Mother Nature will rule these first few weeks of the year. On the bright side, our Canadian visitors returned and that impact was felt during the holidays. We are planning to welcome them back in full force throughout the year with targeted marketing campaigns specifically around Canadian holidays, winter/spring school breaks and more.

The investment in the infrastructure throughout Warren County by the county as well as other organizations including individual towns, the Lake George Land Conservancy, the Lake George Association and others in hiking, biking, boating, fishing and other outdoor recreation is key to our continued success as more businesses warm up to being open year-round because of the new demand for the Lake George area that was generated throughout the pandemic.

The Lake George Regional Chamber of Commerce & CVB has enjoyed a high retention rate of members as well as strong demand for advertising in our Four-Season Travel Guide to the point whereby we are adding four pages of content and increased distribution out of the area to surrounding

states.

Under our organization’s umbrella, investment in technology training, data and automation are on tap for our organization across all of our business units.

The Chamber, which has close to 470 members, the Lake George Regional Convention & Visitors Bureau (LGRCVB), a division of the Chamber and extension of the Warren County Tourism Department, and the Taste NY program at the Adirondacks Welcome Center are on the frontline with visitors throughout the year interacting with more than 275,000 people through various outlets.

The Chamber office, through calls, walk-ins, and inquiries; the seasonal Village Information Center staff and the Adirondacks Welcome Center team, assisted by the LGRCVB team, connect businesses with visitors each and every day.

Through enhanced data and other focused strategies, we will strive to assist our partners with destination management just as we did in a different way during the pandemic, yet with the same objective to keep our tourism economy healthy and vibrant.

Some strong focus will be on bus tours as the LGRCVB works hand in hand with the Warren County Tourism Department on enhancing outreach to this segment of group business and working closely with the county and Hood Communications on a new marketing initiative: lakegeorge. tv. The Adirondacks Welcome Center has produced a series of videos in conjunction with Advokate featuring local producers that will be rolled out over the coming months to showcase the variety and creativity of our regional farming and artisan community.

Exciting changes are happening for the Chamber administration as long-time staff retire and we usher in a new generation of board and staff management. Adaptability and collaboration are still priority keys to our success as we embark on another 70 years of service to our tourism economy.

SARATOGA BUSINESS JOURNAL • JANUARY 2023 • 17
Landscaping and Construction
JH and Son Excavation and Demolition 60
Lets Get Cruising 10
Dr.
Light
DECEMBER
North Street Granville, NY 12832
Brenda
Hudson Falls, NY 12839 Let There B
1668 County Route 64 Salem, NY 12865 Heron Feathers Books 21 Ferguson Lane Salem, NY 12865
Gina Mintzer, executive director, Lake George Regional Chamber of Commerce.
Outlook 2023 Continued From Page 16
Courtesy Lake George Regional Chamber of Commerce Peter Bardunias, senior vice president, Capital Region Chamber. Courtesy Capital Region Chamber

Deli, Market, Restaurant At Park & Elm Add To Growing Appeal Of Downtown Glens Falls

Glens Falls was a shadow of the proud, prosperous community people called “Hometown USA” when Ben Miller left home to pursue a music career.

Vacant storefronts lined Glen Street, attractions were far and few between, and dysfunctional traffic patterns made trips downtown a nightmare.

When visiting home, however, Miller saw a steady resurgence that has blossomed, making Glens Falls one of upstate New York’s more vibrant small cities.

“It was really within the last five years that things really started to explode and more and more, every time I came home I saw Glens Falls as a place where I could see myself some day,” he said. “There’s been a huge amount of work done by the business community to make Glens Falls a place where people want to live and have the amenities they’re looking for.”

Building on this positive momentum, Miller has opened a fi ne dining restaurant, deli and grocery mart called Park & Elm, which fi lls a void while revitalizing an historic building that turns 100 years old in 2023.

“When I was living abroad I missed these types of stores where you can go and pick up groceries for the evening so you can make a nice dinner after work, or you can pick up a great sandwich at lunchtime,” he said. “We really want to provide a pretty full spectrum, whether you want a date night out in the dining room, or your morning coffee and a pastry and hopefully everything in between.”

“We’re really hoping it will be a little something for everyone,” he said. “We want to have things as simple paper towels and dish soap, but we also want to provide some gourmet products you may not see in the big-box stores around here. We’re offering a lot of the same meats, cut to order at the butcher counter, that we use for the dining room menu.”

The convenient, 19 Park St. location is within walking distance for downtown visitors and businesspeople, and the hundreds of employees at nearby Glens Falls Hospital.

The deli and market began welcoming patrons on Nov. 19 and the restaurant opened on Friday, Dec. 9. It replaces the popular eatery called Doc’s, located across the street in the Park Theater building, which Miller’s mother, Elizabeth Miller (Miller Mechanical Services Inc. owner), brought back to life with a grand revitalization project several years ago.

new dining room for almost two years now.”

The retail market and deli is open from 7 a.m. to 9 p.m., Tuesday to Saturday. Hot lunch foods will stop being served at 4 p.m., but “grab-and-go” items will be available until closing.

“I live at 14 Hudson,” Miller said. “There’s not really even a place to pick up a six-pack of beer downtown unless I want to walk to Stewart’s. All of those things are some of the needs I wanted to fi ll with this project. The more I started to talk with my management team we felt we could really add something to the fabric of Glens Falls.”

The 85-seat restaurant opens at 5 p.m. with fi nal seatings at 9 p.m., Wednesday to Saturday. Starting next spring, an enclosed threeseason patio area will have 65 more outdoor seats.

Plans call for keeping both the deli-market and restaurant open an additional day, about six months from now, Miller said.

Park & Elm also has 10 new second- and third-floor apartments over the restaurant and market. They are expected to be fi lled by the end of December, Miller said.

Retrofitting the old building, while both preserving and enhancing its character, was no easy task, especially with supply chain and material shortage issues stemming from the COVID-19 pandemic. The job was done by Queensbury-based Cifone Construction Co., which also worked on the Park Theater building.

The Saratoga Area Abounds With Great Food & Drink Options

Saratoga Springs and Saratoga County are home to many amazing restaurants featuring a variety of cuisines. The diversity of menus and settings ensures that even the pickiest diner will find something to please their palate. In addition, downtown Saratoga Springs' nightlife scene is always hopping, whether you are looking for a friendly pub and a pint, some wine and some jazz, or a place to dance the night away. In addition, there are an abundance of craft breweries, wineries, and distilleries to help quench your thirst. Below are some of our favorite restaurants, nightlife hotspots, and craft beverage producers. Always contact your destination restaurant for current hours of operation.

The Brook Tavern

Saratoga Springs, NY

Just a short walk from the Saratoga Race Course and walking distance from Congress Park, The Brook Tavern is a favorite neighborhood gathering spot nestled at the intersection of Union and Nelson Ave., right in the heart of historic Saratoga Springs.

Carson's Woodside Tavern

Malta, NY

With spectacular views of Saratoga Lake and the Vermont mountains, our amazing outside patio, deck, fire pits, and bar are the place to be all summer long. Great food, drinks, entertainment, and fun await! Only 7 miles from Saratoga Springs.

Sushi

Thai Garden

Saratoga Springs, NY

Experience fine Japanese and Thai cuisine, prepared and presented in an artistic manner, using all fresh ingredients. Open for both lunch and dinner; don't forget to ask about our take-out and gift certificates too!

Harvey's Restaurant and Bar

Saratoga Springs, NY

At Harvey's Restaurant and Bar, we are proud to be at the forefront of hospitality in the downtown Saratoga region!

Winslow's Restaurant Gansevoort, NY

Open since 1948, Winslow's Restaurant is steeped in heritage and tradition. Located just a few minutes north of Saratoga Springs, Winslow's serves up classic American cuisine like steak, grilled pork chops, and oven roasted turkey.

The Hideaway

Saratoga Springs, NY

The Hideaway at Saratoga Lake Golf Club is open to the public seven days a week and features a menu with something for everyone. Indoor and outdoor seating is available, and they offer a banquet space for weddings and events.

Lake Ridge Restaurant

Round Lake, NY

Only minutes away from Saratoga Lake, we're the food critics' choice (4.5 out of 5 stars), offering first-rate Continental cuisine in an elegant setting. Exceptional food, great prices and friendly service will keep you coming again and again.

The former Doc’s space will continue to host private events.

“We’ve got dozens of special events, like corporate Christmas parties, taking place there in December,” Miller said.

The new Park & Elm Street restaurant will have many of the same menu highlights people enjoyed at Doc’s “with a few tricks up our sleeve we’re excited to share,” Miller said. “It’s the same team. We’ve got a great bartender (Ethan McKee) and executive chef (Matthew J. Delos). I manage the restaurant’s wine program. We’ve all been looking forward to this

The Wishing Well Restaurant

Gansevoort, NY

Award winning restaurant Serving the Saratoga region's finest selection of premium steaks, live lobsters, fresh seafood & wines. Stone fireplaces, a piano bar & attentive service are hallmarks of The Wishing Well.

The

Adelphi Wine & Beer Garden

Saratoga Springs, NY

Located at The Adelphi Hotel in downtown Saratoga Springs, the Adelphi Wine & Beer Garden offers sommelier-selected wines, delicious craft beer, and the region’s most inventive and flavorful sushi.

Wheatfields

“Th is was a huge challenge,” Miller said. “There were five separate, narrow businesses on the ground floor. We had to completely re-imagine what this space would look like. There were columns and pillars to work around and utilize. Th is was an electrical warehouse at one time, so we have classical elements like exposed brick, industrial-type lighting and the new tin ceiling looks similar to what was here.

"It would have been way cheaper to knock the whole thing down and start from scratch, but we wouldn’t have this historic building to keep the character of Glens Falls.”

Salt

& Char

Saratoga Springs, NY

Salt & Char is a Modern American Steakhouse with an inviting and stylish atmosphere that creates the perfect dining experience. Step inside or join us on the veranda for second to none views of Broadway while dining for lunch or dinner.

Beer

Wine Pizza

Saratoga Springs, NY

Hang out and enjoy some of the region's best pub food at Beer Wine Pizza in Saratoga Springs, NY. This local bar and grille offers burgers, pizza, boutique wines and craft beer, and more!

Morrissey's Lounge & Bistro

Saratoga Springs, NY

Restaurant

Saratoga Springs, NY

You can't go wrong with freshly made pasta prepared right on-site using local ingredients! But Wheatfields is much more than pasta: Patrons rave about the hand-stretched pizza, the salmon entrée, and the fried calamari appetizer, to name a few.

Morrissey's Lounge & Bistro in Saratoga Springs is located within The Adelphi Hotel and is the perfect place for good food, drinks, and conversation. They offer an all day menu and three unique dining areas.

18 • SARATOGA BUSINESS JOURNAL • JANAURY 2023
ORDER ONLINE FOR PICK-UP & DELIVERY! ( 5 1 8 ) 5 8 4 - 5 4 0 0 • 7 0 - 7 2 C o n g r e s s S t r e e t P l a z a , S a r a t o g a S p r i n g s p u r d y s w i n e . c o m • 1 B l o c k O f f B r o a d w a y • N e x t T o E m b a s s y S u i t e s *42 Beautiful Guest Rooms *Elegant Private Events From 15 to 100 People *Sophisticated Dining Five Nights a Week *Cozy Tavern with Local, Live Music Four Nights a Week e Inn at Saratoga 231 Broadway | Saratoga Springs | NY | 518-583-1890 www.theinnatsaratoga.com
Ben Miller stands in the new market at Park & Elm in Glens Falls. Paul Post

Longfellows Proposes Major Renovations

Continued From Page 1

of a luxury inn” says the company website. “Our hotels and resorts are designed to reflect their respective neighborhoods and serve as good neighbors by participating in community events and causes. Th rough environmentally responsible design and day-to-day management, we adhere to best practices for sustainable operations at every location.”

Company officials could not be reached for comment.

But documents have been fi led with the city Planning Board outlining proposed changes and other documentation required by the city. The Planning Board is scheduled to discuss the matter at its Jan. 12 meeting at City Hall.

According to the documents, plans include the addition of a spa with four treatment rooms and a swimming pool, demolition and replacement of the two-story main building, a reduction in meeting space and an increase in hotel rooms from 50 to 88. The restaurant also will be altered so that there is a separate entrance away from the hotel lobby.

There will also be a change in the inner workings of the restaurant toward a farm-to-

table approach, with the total number of seats being decreased from 214 to 91.

According to the documents, the hotel would have 54 rooms. It currently has 18.

Regarding the sale of Longfellows, Sullivan said “We’re thankful for all the wonderful employees we’ve had the pleasure of working with over the years. They really did a great job serving each other as well as our guests. We’re grateful for the wonderful vendors and suppliers we’ve worked beside and maintained relationships with. To all of our customers who stayed with us, dined with us, and celebrated with us, this is not goodbye.’ We look forward to seeing you at the Olde Bryan Inn.”

He said the objective when Longfellows fi rst opened was to be “good stewards of the property and to those we were here to serve. I believe we’ve met those objectives. We are very grateful for the opportunities we’ve had over the past 26 years”

Longfellows was originally the site of two large dairy barns. In 1995, Longfellows Restaurant was established and became a favorite with a reputation of distinction.

Personnel Briefs

Continued From Page 2

The Wesley Community announced that Kelli Derway was appointed to its board of directors.

Derway is the director of facilities for Stewart’s Shops, where she has worked for 30 years providing operational and facilities support. She has a broad range of experience from managing preventative maintenance programs and standards upgrades to budgeting and expense reporting.

She has also had responsibilities overseeing refrigeration, HVAC and security installations and repairs. Derway serves as a trustee to the Stewart’s Shops’ Employee Stock Ownership Plan.

For more information about The Wesley Community, visit www.thewesleycommunity.org.

of Realtors, was developed to satisfy the need for more comprehensive and effective learning experience in various phases of real estate. By taking courses offered by the institute a Realtor or Realtor Associate can become a more competent professional, render broader and more effective service, and elevate the standards of the real estate industry.

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Southern Adirondack Realtors installed a slate of new leaders at its holiday gala in December.

Amanda LaForte has been awarded the GRI designation by the New York State Realtor Institute.

LaForte is a state licensed real estate salesperson for EXIT Realty Empire Associates in Clifton Park.

She received this honor after successfully completing 90 hours of residential real estate education meeting the rigorous standards established by the National Association of Realtors.

The Realtor Institute of New York, which is conducted by the New York State Association

SAR officers include Eden Whitaker of DeMarsh Real Estate, president; Jessica Sherry of the Sherwood Group, president-elect; Lisa Ostrander of Howard Hanna Real Estate, secretary ; and Saraha Millington of Gallo Realty ADK, Treasurer-Elect.

Other offi cers are Catherine McDonough of Hunt Real Estate, past president; and directors Lisa Grassi Bartlett of Exit Realty, Gloria Bolesh of Howard Hanna Real Estate, Scott Cross of Berkshire Hathaway Home Services, Howard Denison of DeMarsh Real Estate, Mark Ladu of Davies of Davies Real Estate, Brian Williams of Levack Real Estate, and Dan Davies of Davies-Davies Real Estate.

SARATOGA BUSINESS JOURNAL • JANUARY 2023 • 19 • • Available Commercial & Residential Properties We’d like to promote your commercial or residential property. Call us, 581-0600. Charming Victorian row house on East Side of Saratoga, Springs, walking distance to track, Broadway, fine restaurants & shopping. Many updates throughout the building. Beautiful interior exposed brick. Wonderful original details in tact on exterior . Separate utilities. Landlord pays trash, snow removal, lawn care, water and sewer. 2 parking spots in the back. 182 Regent Street | Saratoga Springs, NY $799,000 Listing Agent: Anny O’Neil 518.369.4188 | aoneill@roohanrealty.com NEWLISTING Lake Luzerne, NY Price: $1,850,000 Lake NY Price: $1,850,000 • Gorgeous Adirondack Home with Soaring Ceilings - Rent it out or live in it! • Private Waterfront Setting o ering a beautiful setting to live and work! • Close to Lake George and Saratoga for restaurants, racing and nightlife! • Strong Revenue Stream with great potential to increase by renting house! • New Owner can increase business in Winter and Shoulder season! • Tranquil Lake setting for family and romantic getaways! Hide-A-Way Waterfront Cottages Call Mitch for details! 617-610-7774 • mitch@muro ospitality.com amenities
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Saratoga Reptile Show At City Center Will Feature Captive-Bred Amphibians And More

The Saratoga Springs City Center will host the first Saratoga Reptile Show on Jan. 22 from 10 a.m. to 4 p.m.

The one-day event will feature hundreds of healthy, captive-bred reptiles, amphibians, and invertebrates that can be purchased from reputable vendors. There will also be a wide selection of discounted cages, supplies, feeder insects, and frozen/live rodents.

Tickets to the event are $10 for adults, $5 for children ages 7-13, and free for children ages 6 and under.

Organizers said the Saratoga Reptile Show is here to cultivate a family friendly, educational, and fun filled event where people can enjoy wandering and observing reptiles.

There will be an educational sales and

networking event geared toward reptile enthusiasts, hobbyists, and reputable breeder. They will be able to purchase quality captive-bred reptiles, amphibians and invertebrates, discounted cages, supplies, feeder insects, frozen and live rodents!

Attendees will also have the opportunity to learn and browse from hundreds of captive-bred reptiles, amphibians, and invertebrates.

Professionals will network with industry leaders in the world of herpetoculture. Official said there are more than 30 vendors signed up and the list is growing.

Tickets are available below via the Eventbrite website, eventbrite.com.

The event website is www.saratogareptileshow.com.

20 • SARATOGA BUSINESS JOURNAL • JANAURY 2023
The Saratoga Reptile Show is a family friendly, educational show where people can observe reptiles. It is also an educational sales and networking event geared toward reptile enthusiasts. Courtesy Saratoga Reptile Show
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