SBJ P.O. Box 766 Saratoga Springs, NY 12866
SARATOGA BUSINESS JOURNAL
VOL. 28 NO. 11
★★ The Business Newspaper of Saratoga County ★★
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JANAURY 2024
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Eclectic Lineup of Talented Musicians Slated to Schuylerville And Hoosick Falls Each Receive Perform at the 47th Annual Freihofer’s Jazz Fest $4.5 Million From Capital Region NY Forward
The Saratoga Performing Arts Center will host a two-day jazz festival in June featuring 22 musical groups and 10 debuts. The 47th Annual Freihofer’s Saratoga Jazz Festival will return for a full two-day and two-stage exhilarating festival experience on Saturday, June 29 and Sunday, June 30 at the Saratoga Performing Arts Center. Featuring a roster of 22 musical groups and 10 festival debuts, the line-up is co-headlined by four premier contemporary artists: Lake Street Dive, Norah Jones, Laufey, and Samara Joy; alongside jazz and blues legends Stanley Clarke with his band N*4Ever, Terence Blanchard Sextet and Coco Montoya. Also highlighting the line-up is the next generation of jazz stars Yussef Dayes, Joey Alexander, Miguel Zenon, Tia Fuller, Theo Crocker, Helen Sung and Sara Caswell, and today’s most electrifying AfroCuban and funk bands Cory Henry, Cimafunk, The New Orleans Groove Masters and Pedrito
Coutesy Spac.org
Martinez Group. From jazz to roots, funk, blues, pop, indie and beyond, the festival will bring its signature blend of world-class artists and ensembles, solidifying its place as an international destination and a ‘must-stop’ on the 2024 festival trail. “Our 2024 festival has a record number of female headliners, all among the most exciting musicians in the industry today. From young, new sensations like Laufey and Samara Joy, who are bringing jazz to the next generation, to beloved superstars like Norah Jones and Rachael Price, dynamo lead singer of Lake Street Dive, this year’s line-up is over the top with powerful female presence,” says Elizabeth Sobol, President and CEO of Saratoga Performing Arts Center. “As always, we are so grateful to Continued On Page 15
Officials and residents of the Village of Schuylerville display the $4.5 million check from Capital Region NY Forward. Governor Kathy Hochul has announced Hoosick Falls and Schuylerville as this year’s Capital Region NY Forward winners, receiving $4.5 million each in funding. Building on the momentum of the state’s successful Downtown Revitalization Initiative, the $100 million NY Forward program adopts the same “Plan-then-Act” strategy as the Downtown Revitalization Initiative, which couples strategic planning with immediate project implementation to support a more equitable downtown resurgence for New York’s smaller and rural communities. Applicants submit a vision for their downtown and a slate of transformative projects to achieve that vision. With the Governor’s commitment this year of $100 million each for the Downtown Revitalization Initiative and NY Forward, the State has now
invested a combined total of $1 billion in both programs since their inception. “Investing in our New York communities means investing in their heartbeat – our downtowns,” Governor Hochul said. “Hoosick Falls and Schuylerville put forth plans to reinvigorate their downtowns, which contribute to making the Capital Region a world-class destination for businesses, families and tourists.” New York State Secretary of State Robert J. Rodriguez said, “The NY Forward program focuses on the smaller and more rural communities throughout the state who are looking to revitalize their downtowns. These awards to Hoosick Falls and Schuylerville will build upon previous investments to prompt more Continued On Page 15
Stewart’s Shops Plans To Replace Existing Leisure Travel And Meetings Industries In Stores With New Larger Ones At 10 Locations Saratoga County Are On Pace To Top 2023 BY PAUL POST How important is Stewart’s Shops to the upstate economy? The Saratoga County-based firm spends $50 million per year on remodeling projects, replacing old stores with new ones, and entering new markets in 32 counties from the Canadian border to Newburgh, and southern Vermont to Oswego on Lake Ontario. “Our territory swells from the outer edges,” Chief Operating Officer Chad Kiesow said. “We’re very successful when we’re in areas where people understand what we provide. We’re not your typical convenient store selling snacks, beverage and cigarettes. In some communities we’re a local grocery store. In others, we provide a dining area and a place for people to enjoy our own fresh-made products.” “Fifty percent of our opportunities come via phone calls from people asking us to locate there,” he said. “The other half, we’re out pounding the pavement looking for communities that need the services we can provide.” Kiesow joined Stewart’s in 1994 and is chairman of Saratoga Chamber of Commerce in 2024. With 359 shops and 5,000 full- and part-time employees, Convenience Store News says Stewart’s Shops is the nation’s 18th largest chain,
Stewart’s Shops has planned extensive renovations to some of its convenience stores. Courtesy Stewart's Shop
and generated $1.7 billion in revenue in 2022 (zippia.com). Industry leader 7-Eleven is the largest convenience store company with more than 12,700 sites. Stewart’s corporate offices are on Route Continued On Page 11
BY DARRYL LEGGIERI With 2023 in the rear-view mirror, let us take a moment to reflect on what a great year it was-at least in leisure travel, and the meetings industry! Leisure travel was anchored by many of our major attractions and cultural institutions, such as the Saratoga Performing Arts Center, Saratoga Casino Hotel, Saratoga National Historic Park, Universal Preservation Hall, Caffe Lena, National Museum of Racing, and the historic Saratoga Race Course. The track’s summer meet exceeded one million in paid attendance once again. As for meetings and events, the return of business was fruitful. Not even rising costs, staffing shortages and a possible recession changed meeting planner confidence. When we look at the numbers for our lodging partners, through November of 2023 year over year, Saratoga County saw steady positive growth. Over the previous 12 months, demand increased by .5 percent, Occupancy was up .8 percent, Average Daily Rate (ADR) was up 5.9 percent, and Revenue Per Available Room (REVPAR) was up 6.7 percent. 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: As we start the new year, we’re absolutely de-
Darryl Leggieri is the president of Discover Saratoga.
Courtesy Darryl Leggieri
lighted and honored to be designated as the official Tourism Promotion Agency (TPA) for Saratoga County. We are excited to embark on this journey to showcase the unparalleled beauty, culture, and experiences that our county has to offer. It’s an exContinued On Page 2