Saratoga Business Journal - October 2023

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SARATOGA BUSINESS JOURNAL

VOL. 28 NO. 08

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Discover Saratoga Will Become The County’s U.S. Awards GlobalFoundries A $3.1 Billion, Official Tourism Promotion Agency In 2024 10-Year Contract To Make Secure Chips Saratoga County has partnered with Discover Saratoga (Saratoga Convention and Tourism Bureau), a prominent player in the tourism industry, in a collaboration that officials hope will redefine the travel experience for visitors and locals alike in Saratoga County.

The Saratoga County Board of Supervisors passed a resolution naming Discover Saratoga as the county’s official tourism promotion agency at its September meeting.

Discover Saratoga will assume the duties for the county beginning Jan. 1.

The resolution also authorizes Discover Saratoga to register as the county’s tourism promotion agency with the Empire State Development Corp. and apply for an I Love New York grant for 2024.

“The partnership between Saratoga County and Discover Saratoga aims to enhance the overall tourism ecosystem in the county. With a shared commitment to promoting the unique cultural, historical, and natural attractions of Saratoga County, this collaboration will bring about a wealth of benefits for tourists and the local community,” said a statement from the county board.

Saratoga County Board of Supervisors Chairman, Theodore T. Kusnierz, Jr. said Saratoga County “is recognized as a leading tourism destination, and we believe this new partnership will increase our visitors who want to experience the many different attractions that draw people from around the world.

We are excited to work with Discover Saratoga to promote our growing vacation, leisure, and convention activities across the county, which are an important segment of our economy.”

Saratoga Springs Supervisor Matt Veitch said, “I’m thrilled the County is joining forces with Discover Saratoga, which already does a fantastic job of promoting the City of Saratoga Springs. I also want to thank the Saratoga County Chamber of Com-

Saratoga County has partnered with Discover Saratoga to handle tourism promotion.

Courtesy Discover Saratoga

merce, who has done a great job promoting our county for many years. We look forward to helping visitors and locals explore the wonders of our entire county and create memorable experiences for travelers, while contributing to the growth and prosperity of our local community.”

Darryl Leggieri, president of Discover Saratoga, added “We’re absolutely delighted and honored to be designated as the official tourism promotion agency 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.

“Together with our valued tourism partners, we’re ready to not only celebrate, but also elevate Saratoga County’s status as a year-round tourist Continued On Page 4

The U.S. Department of Defense has awarded GlobalFoundries a new 10-year contract for a supply of securely manufactured, U.S.-made semiconductors for use across a wide range of critical aerospace and defense applications.

With an initial award of $17.3 million tin September and an overall 10-year spending ceiling of $3.1 billion, the new contract provides the Department of Defense and its contractors with access to GlobalFoundries’ semiconductor technologies manufactured at its U.S. facilities.

GlobalFoundries also announced it is seeking federal funding to expand its ability to produce semiconductors and modernize its U.S. facilities, including its property in Malta.

The GlobalFoundries facilities in Malta are Department of Defense-accredited to the highest security level, Trusted Supplier Category 1A, which implements proven stringent security measures to protect sensitive information and manufacture chips with the highest levels of integrity to ensure they are uncompromised.

In addition to secure chip manufacturing for Department of Defense systems used on land, air, sea, and in space, the new contract provides the Department of Defense and its contractors with access to GlobalFoundries’ robust design ecosystem, IP libraries, earlyaccess to new technologies in development, quick and efficient prototyping, and fullscale volume manufacturing.

The contract was awarded through the Department of Defense’s Defense Microelectronics Activity (DMEA) Trusted Access Program Office (TAPO).

The U.S. government awarded GlobalFoundries a contract for secure computer chips.

Courtesy GlobalFoundries

“GlobalFoundries is proud to begin this new chapter of our decades-long partnership with the U.S. government, and to continue serving as the leading supplier of securely manufactured essential chips for the U.S. aerospace and defense industry,” said Mike Cadigan, chief corporate and government affairs officer at GlobalFoundries.

“This partnership provides Department of Defense programs with ‘front-door access’ to advanced technologies in a way that is scalable and highly efficient. For this work, GlobalFoundries is accredited to provide the right level of security required for each program, from GlobalFoundries’ industry Continued On Page 7

Saratoga New Year’s Fest To Feature Music, Broadway Grind Coffee Shop Owner Hopes Fireworks, Family Activities Over Four Days To Hold Collaborative Events In Her Shop The Saratoga New Year’s Fest will be back for its second year with a full holiday weekend of entertainment and celebration leading into the new year.

The multi-venue, weekend-long festival, scheduled for Friday, Dec. 29, through Monday, Jan. 1, is anticipated to be bigger and better with additional venues, expanded programming and outstanding talent, event officials said.

Headlining this year’s lineup are seventime Grammy nominee Joan Osborne, who made her way onto the Billboard charts in the mid-1990s with her hit single “One of Us,” along with fellow Grammy nominee Robert Randolph bringing his blues, rock and gospel sound to the Spa City. Country bluegrass band The Gibson Brothers, a nationally touring act with roots in upstate New York, will also perform.

Also slated to perform as part of the Saratoga New Year’s Fest are Dogs in a Pile, Organ Fairchild, Tracy Bonham, Toubab Krewe, Ward Hayden & the Outliers, GA-20, DJ Logic, The Swing Docs and more to be announced.

In addition to the many indoor live performances happening at venues throughout downtown Saratoga Springs, this year’s festival will include a free family, family-friendly concert at 5 p.m. and a fireworks display at 6 p.m. on New Year’s Eve at Ellsworth Jones Place outside of the Saratoga Springs City Center.

The festivities will conclude on New Year’s

Fireworks will be a big attraction at the Saratoga New Year’s Fest.

Courtesy Saratoga County Chamber of Commerce

Day with the Saratoga First Day 5K for runners.

The Saratoga New Year’s Fest is presented by the Saratoga County Chamber of Commerce, Discover Saratoga, the Saratoga Springs City Center, the City of Saratoga Springs and The 398Group, with support from local sponsors including Death Wish Coffee, Druthers, Adirondack Trust Co. and the Saratoga Springs Special Assessment District.

“We are thrilled to present the Saratoga Continued On Page 14

BY CHRISTINE GRAF Christine Hernandez is the new owner of The Broadway Grind at 493 Broadway in Saratoga Springs. The Long Island native is also the owner of Allo Saratoga, a business that opened at 25 Lawrence St. in November 2021.

“Allo has an indoor play space for children, and in addition to open play, we have classes for kids as well as workshops for parents, childbirth education classes, and new parenting groups,” said Hernandez. “I always wanted to own a coffee shop, and when I saw that Broadway Grind was for sale, I realized it was the perfect opportunity to marry the two businesses. I can walk between the two spots, and I’m pretty hands-on at each business.”

The Broadway Grind seats 25 and has a patio and sidewalk permit. Since taking over ownership of the coffee shop in July, Hernandez has been focused on growing the business. “We already have some collaborations lined up,” she said. “We have some events planned for after hours. We have a cookie and coffee event with Scotia Sweets and an event with the Norwegian Candle Co. We also plan on doing more collaborations,” she said.

Hernandez also hopes to partner with local food businesses to host what she describes as pop-up dinner residencies at The Broadway Grind.

“We have a full kitchen, and we’re hoping to use the kitchen in a pop-up capacity,” she said.

The Broadway Grind has a limited food

The Broadway Grind at 493 Broadway in Saratoga Springs has a new owner. menu that includes baked goods, overnight oats, and chia seed pudding. The drink menu has a variety of coffee and specialty drinks.

The Broadway Grind offers unlimited complementary iced or hot coffee to those who have annual Allo memberships. In addition to annual memberships, Allo offers monthly memberships as well as day rates for drop-in play. The Broadway Grind is open every day from 7 a.m. to 4 p.m. Allo Saratoga’s daily schedule can be found at allotoga.com.

2 • SARATOGA BUSINESS JOURNAL • OCTOBER 2023

SEDC President Eyes Strong Agency Collaboration, Cooperation In Community

BY PAUL POST Greg Connors has deep roots in Saratoga County, which makes him a good fit for growing its multifaceted economy with strong manufacturing, retail, hospitality, tourism and agricultural sectors.

After 10 years at GlobalFoundries, he took over as Saratoga Economic Development Corporation’s chief executive and president on Sept. 5.

A former Stillwater town supervisor, he was instrumental in creation of Luther Forest Technology Campus where GlobalFoundries is located. He was responsible for GlobalFoundries’ government relations in New York and Vermont where the company has a large manufacturing facility in Essex Junction near Burlington.

“I interacted with governors, legislators, regulators, regional and local governments in both states,” Connors said. “I think I took them as far as I could. It was simply time for a change. My main goal here at SEDC is to be more collaborative and cooperative with community and business stakeholders and economic developers throughout the county and Capital Region. I want to work with our staff and board of directors to enhance the image of SEDC going forward, and continue the work done by this organization over the last 40 years, which has had great success during that time.”

Connors succeeds Dennis Brobston, who retired Dec. 31 after 14 years at the agency.

Prior to joining GlobalFoundries, Connors was a real estate broker and appraiser for many years, and is a past president of the New York State Association of Realtors.

His family owns and operates The Connors Agency LLC, in Mechanicville, an insurance, real estate and financial services company started by his father 65 years ago and now run by Connors’ siblings. His wife

l

J. Gregory Connors, president and CEO of the Saratoga Economic Development Corp.

Courtesy SEDC

and brother operate the more than century old Matrazzo Florist shop in Mechanicville.

SEDC board chair John Munter, co-owner of Munter Enterprises, said Connors was one of about 20 people who expressed interest in the top leadership position.

“Looking at his qualifications, Greg had a very good cross-section of family business involvement, some public service as a town supervisor and a lot of exposure into the big business world with GlobalFoundries,” he said.

With more than 200 members at various investment levels, SEDC has a nearly $1 million budget and a six-person staff comprised of three part-time and three fulltime employees including Connors, who hinted that new hires might be needed.

“I’m anticipating a very active end of 2023, going into 2024,” he said. “As our

workload increases, which is one of my goals, our staffing needs will certainly be addressed by the board of directors.”

The agency’s mission is creating jobs and growing the tax base while preserving the county’s attractive quality-of-life features such as open space and recreational opportunities. Most funding comes from members and SEDC also receives $200,000 from the county, as its main economic development provider.

Munter said job retention and workforce development are two other big challenges.

Essity paper company recently closed its huge South Glens Falls mill and plans to shutter a Greenwich converting facility and Saratoga Springs warehouse operation, costing the area about 300 jobs.

“We need to make sure that SEDC is touching base with small and large businesses in the region, making sure they’re getting everything they need to survive and stay here in the New York state economy, which is a challenge,” Munter said.

Connors said he’s already had discussions, trying to identify a new use for the sprawling South Glens Falls mill property.

“There are any one of a number of possibilities,” he said. “I’d rather not cite a specific one for the simple reason there are so many possibilities. I wouldn’t want to limit our imagination to any one sector.”

Workforce development is extremely critical as numerous employers, large and small, are having difficulty finding the help they need.

Connors foresees continued growth of the area’s solid retail base, highlighted by large new stores such as a Bass Pro Shop coming to Clifton Park.

SEDC might also play a key role in future development of the Route 9 corridor near Northway Exit 17 in Moreau. New municipal sewer service was recently installed that’s expected to spur considerable investment.

“That’s one of the last frontiers for growth in our county,” Munter said. “Back

in the ‘60s, they thought it would be a huge growth area, which never really happened.

We’re hoping that’s the next horizon for renewal.”

Connors is of course keeping a close eye on GlobalFoundries’ plans for a second large semiconductor plant at Luther Forest, which would create hundreds of construction jobs and an estimated 1,000 new permanent positions. The project will reportedly cost an estimated $9 billion.

“The industry has taken a little bit of a downturn in recent years,” Connors said.

“Their CEO has said that when he gets the order to for a new facility in Saratoga County he’ll begin the construction process. Where that is today, I’m unsure. GlobalFoundries just announced an expansion and construction project completion in Singapore. New York and the United States is next.”

“I certainly think it’s going to begin in the next few years,” he said. “They’re already preparing applications to be submitted to the federal government with respect to the CHIPS and Science Act, and are preparing applications to state government for Green CHIPS legislation.

“The purpose of the CHIPS and Science Act was to promote 21st century advanced manufacturing here in the U.S. I know with GlobalFoundries being a trusted company, it’s a high priority with the federal government and with New York state’s aggressive effort to recruit 21st century manufacturers to the state, I think it’s going to happen in the near term.”

The CHIPS and Science Act, which President Biden signed into law in August 2022, is making a $53 billion investment in U.S. semiconductor research, development and production. It also creates a 25 percent tax credit for capital investments in semiconductor manufacturing.

The state program offers an additional $10 billion in investment incentives.

“SEDC will do whatever we can to support GlobalFoundries’ expansion here in Saratoga County,” Connors said.

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SARATOGA BUSINESS JOURNAL • OCTOBER 2023 • 3

The Bunker To Open On Broadway With Golf Northshire Books In Downtown Saratoga Simulators And An Upscale Meal Experience Springs Celebrated Its 10th Anniversary

This building at Broadway and Washinton Street in Saratoga Springs will become The Bunker, with golf simulators as welll as a restaurant and event center.

BY SUSAN ELISE CAMPBELL Following a two–year search for space in Saratoga Springs, owner Troy Miller has begun his latest expansion of The Bunker, an indoor golf simulator, restaurant, upscale pub and event center at Congress Park Center, 307 Broadway.

Miller said golf has been the number one sport during the pandemic because outdoor gatherings were allowed. He and minority partner Robert McKutcheon opened the Clifton Park location only last year, saying, “it’s a scary thing to push forward into Saratoga, but I am glad we did.”

In the prior 12 months other locations were opened in New Hartford, Utica, North Greenbush, and Mohawk Harbor in Schenectady.

The newest location will occupy two floors and Miller said they will build stairs between the floors for a total of 11,000 square feet, making it the largest location.

“Saratoga is probably the most well-known gem in the Capital District, and we are happy to have some level of control over the entrance to it,” he said.

Another feature at The Bunker on Broadway is that the town is allowing installation of sliding doors on 90 percent of the frontage, said Miller, so it can bring the outdoors in.

“During the summer we will be able to open up all the doors and give a real open-air feel to the restaurant,” he said.

©2023 Saratoga Photographer.com

Miller was already familiar with the space formerly occupied by VENT Studios. His construction company did the build-out for VENT, but that location didn’t become of interest to him until the second floor became available, he said.

The Bunker is a destination for “eat-ertainment” where people can come to sit at the bar and enjoy good food even if they don’t golf, he said. There will be both a pub and full restaurant plus an event space.

“We have not finalized the menu with our executive chef, but at this location we plan to have more upscale pub food than the other locations,” he said.

“That may include specialty wraps and poke salads and some other diverse choices in addition to wings and burgers.”

For golf simulation, Miller said The Bunker purchases equipment made by TRACKMAN, which is top of the line and makes his business more exclusive. “That is the brand used by all the professional golfers. When you watch TV and see the ball tracking, that’s the simulator they use.”

But The Bunker is “so much more than golf. You don’t have to golf at all to get an awesome experience,” he said. He hopes to open 307 Broadway in December.

“We are excited to put our best location forward and make it an amazing place,” he said.

Learn more and take a virtual tour at www.getinthebunker.golf.

Northshire Bookstore recently celebrated 10 years in its Saratoga Springs location of 424 Broadway location opened in August of 2013.

Northshire Bookstore celebrated 10 years in its Saratoga location of 424 Broadway in August.

The store is an award-winning independent bookstore, founded by Ed and Barbara Morrow on Main Street in Manchester Center, Vt., in 1976.

The Saratoga Springs location opened in August of 2013.

Both Northshire Bookstore locations are now owned and operated by sisters Cathleen Ihasz, Nicole Ihasz and Ashley Ihasz-Austin.

“Saratoga Springs understood the value of a downtown bookstore and effectively lobbied, invested and supported us,” said Nancy Scheemaker, general manager of the Saratoga store. “We are of course deeply grateful for this passion and vision. We are grateful also for a decade of support that we could only have dreamed of prior to experiencing the real thing.”

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more than a thousand author events in Saratoga Springs, hosted children’s programming and brought authors into area schools, partnered with local not-for-profits, and has worked with our customers to provide free children’s books to area children via our Book Angels program.

In the spring of 2018, the store was honored with the Pannell Award from the Women’s National Book Association, a prestigious national award for excellence in children’s bookselling.

The award jury cited the store’s “passionate staff and year-round schedule of creative programs and events.”

Northshire Bookstore Saratoga is the Capital District’s largest family-owned independent bookseller. For more information on the store and its events program, visit www.northshire. com, follow us at @northshirebooks, or call 518682-4200.

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4 • SARATOGA BUSINESS JOURNAL • OCTOBER 2023

Cannone’s Deli In Gansevoort Has New Owners,To Continue Providing Quality Meals 9 Broad Street #7 Glens Falls, NY 12801

Matthew Sanchez and Colin Hunt are the new co-owners of Cannone’s Deli in Gansevoort. They bought the business from the original owner John Cannone.

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BY ANN DONNELLY Matthew Sanchez and Colin Hunt were working together at 9 Miles East Farm in Saratoga when Sanchez got a call from his previous employer, John Cannone, who said that after 39 years as owner of Cannone’s Deli, he was ready to retire. He suggested Sanchez take over.

In August, Sanchez and Hunt became owners of the popular deli at at 654 Saratoga Road, Gansevoort.

Sanchez and Hunt both have had long careers in the food industry. Sanchez attended the French Culinary Institute in the 1990s after working as a chef in the military. Hunt has worked in the kitchens of some of Saratoga’s popular eateries, like Cantina and Druthers.

After taking over at Cannone’s, Sanchez and Hunt closed for just two days to clean and paint, giving the shop a fresh look.

“That is the only drastic change we will make for now. The last thing we wanted to do is come in and upset the apple cart,” said Sanchez. “Loyal customers, the same faces I saw when I worked here five years ago, keep the place going.”

Sanchez said customer tastes haven’t changed that much over the years. “Buffalo wraps and turkey subs are still favorites, but the classic breakfast sandwich is consistently the most popular item, with people ordering all day long.”

Recent additions to the menu include a popular, new selection of salads that are freshly made each morning, including Greek, chef, caesar,

Saratoga Business Journal

and BLT, and grill items, like chicken cutlets.

With the colder weather coming, they now offer homemade soups. “We are trying to get creative with special offers, soup and sandwich, and meal combinations,” said Sanchez. “We want to continue to provide food made to order and not grab-and-go.”

Cannone’s uses only Boar’s Head deli meats and Rockland Bakery bread. They stock a range of King Dairy products, including ice cream, and are continually looking to establish relationships with local vendors.

Cannone’s cater for parties and events. “Sandwich platters are common, but we just made up a ‘chili box’ with all the usual accompaniments.

The customer loved it.”

Staffing is the biggest challenge for Cannone’s. According to Sanchez, low staffing has meant long work hours, but he is not discouraged. “For the first three months, I knew I’d just put my head down and go.”

Sanchez and Hunt look forward to settling in and putting their stamp on the business with a possible rebranding in the new year. According to Sanchez, “Upcoming property development on this part of Route 9 should significantly benefit the business. There are plans for a new medical center across the road and additional apartments.”

Cannone’s Deli is open 6 a.m. to 4 p.m.

Monday to Saturday and 6 a.m. to 3 p.m. on Sundays.

Discover Saratoga Continued From Page 1

destination. Our shared mission is to create unforgettable experiences and forge lasting memories for both our visitors and locals alike, with the goal of fostering a profound connection with our respected county.”

Saratoga County in 2023 allocated $300,000 for the Saratoga County Chamber of Commerce to provide tourism promotion services. The county’s move to Discover Saratoga was made in concert with the Saratoga County Chamber.

“The hospitality sector is a vital engine for expanding economic opportunity across Saratoga County, and that’s why the Chamber originally suggested that leisure and group tourism promotion be consolidated into Discover Saratoga,” Todd Shimkus, president of the Saratoga County Chamber of Commerce, said.

“Having Discover Saratoga dedicate all their efforts to this mission is the most effective and efficient way to do this and is a win for everyone. This

change means that the Chamber will be able to focus our time, talent, and treasure in other vital areas.

For instance, we will expand the reach of our Love Our Locals campaign which incentivizes Saratoga County’s 235,000 residents to spend more of their money purchasing goods and services from locally owned organizations, and we will lead efforts—like our Live Like You’re On Vacation talent recruitment campaign—to help local employers overcome the historic labor shortage that now is the biggest threat to our local economy.”

Discover Saratoga will be instrumental in promoting the county’s Saratoga: America’s Turning Point initiative, which highlights the upcoming 250th Anniversary of the Battles of Saratoga and Revolutionary War. Beyond catering to tourists, the partnership underscores the county’s commitment to engaging with and supporting the local community, promoting sustainable tourism, and preserving our cultural heritage.

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SARATOGA BUSINESS JOURNAL • OCTOBER 2023 • 5

Company Proposes Motorcoach Campground Local Marketing Company Gets Three With Cabins At Old Golf Course In Moreau State Tourism Excellence Awards For 2023

BY PAUL POST A Latham-based firm’s proposed green energy project would combat climate change while helping people enjoy the great outdoors at a former golf course property in northern Saratoga County.

U.S. Light Energy has a plan for solar array combined with a 146-site motor coach campground and 26 cabins at the 203-acre former Tee Bird South Golf Club on Route 197 in Moreau, about four miles from Northway Exit 17.

The 5-year-old company has already built 15 generating stations across New York in the booming solar industry, with more than twice that in various stages of permitting and construction both in and out of state.

“It’s an exciting project,” said Michael Fingar, the firm’s chief operating officer. “It gives us an opportunity to take advantage of more land than we typically would. The property is well situated to do something pretty dynamic. We hope to begin work late next summer or fall if everything goes well.”

The proposed project, costing up to $20 million, is currently before the Moreau Town Planning Board, which is charged with making a recommendation to the Town Board about its viability. If viewed favorably by the Town Board, the project would go back to the Planning Board for final site plan review, where details are scrutinized.

U.S. Light Energy’s first project was in Clifton Park. It also has developed generating stations in Texas and Pennsylvania, and is seeking entry into other Northeast markets as well.

A National Grid transmission line cuts through the Moreau golf course site, which went out of business 12 years ago. The proposed solar array would be set back on the rear part of the property, out of view from the highway or nearby homes. Electricity would go onto the grid, a requirement of the state’s Community Solar Program, and wouldn’t power the campground directly.

Motor home sites and cabins would be located toward the front, on Route 197. Plans also call for a 1.2-mile multi-use recreation trail that could be used year-round for hiking, snowshoeing and cross-country skiing.

Motor home use would likely be seasonal, from late spring to early autumn. But by having cabins, the campground could be used yearround, Fingar said.

“We’re supporting the green energy movement and combating climate change on one side of the transmission corridor, and promoting the enjoyment of recreation on the other,” he said.

“The whole idea is protecting the environment.”

The site is only a few miles from Moreau Lake State Park, the state park system’s busiest

campground, about midway between Saratoga Springs and Lake George, used by more than 100,000 visitors each summer. For many people, it’s a less expensive way to stay overnight when attending the most popular concerts at Saratoga Performing Arts Center.

Quite often, the state park is booked solid during such events. Overflow visitors might find a nearby privately-run campground a convenient option.

And the Moreau site’s proximity to the region’s many vacation-type attractions would make it easy for recreation vehicle owners to come and go as they please. Sites would likely be rented on a short-term basis from several days to a couple of weeks, rather than an entire season, Fingar said.

In recent years, other parties have expressed interest in opening an RV campground in Moreau, although not at this particular site, he said.

A definite business model hasn’t been adopted, but U.S. Light Energy would likely contract with an experienced campground operator to run the resort portion of its project.

Likewise, the company develops properties, but hires outside contractors to install solar panel arrays. Plans call for 32,000 ground-mounted panels.

Fingar said it’s unclear how many construction jobs and how much full- and part-time employment the campground would support.

He described the campground as “luxury” in nature because it would have amenities such as athletic courts, the hiking trail, pavilions, a clubhouse complete with media room, barbecue area and enhanced landscaping, features not always found elsewhere.

The golf course property was purchase by Energy Impact Partners, a Manhattan investment partner of U.S. Light Energy, for $575,000 on Aug. 31, 2020.

This is the first time U.S. Light Energy has attempted to combine two entirely dissimilar uses at one property. The company was forced think outside the box and design a more creative venture because of the site’s infrastructure limitations.

There is no municipal water and sewer, which would have made it difficult to develop a more traditional subdivision with single-family homes or apartment units.

“That really locked us in to a select few uses that we could do,” Fingar said. “We just feel, based on our discussions with consultants, that it’s a need that can be fulfilled by providing this.”

Latham-based C.T. Male Associates is working with U.S. Light Energy to design and help get the project approved.

Saratoga and Lake Placid-based marketing agency Workshop received three 2023 New York State Tourism Excellence Awards, including for the Battles of Saratoga 250th anniversary’s branding and logo development.

The agency also received awards for creative campaigns promoting tourism in the Catskills and Adirondacks.

“These wins represent something more than Workshop’s creative talents,” said Tim Kelleher, Workshop president. “The awards reflect inspired efforts made by communities, like Saratoga, to redefine tourism in this richly vibrant state.”

Members of Workshop’s creative team accepted the awards at the New York State Tourism Industry Association’s annual conference held in September in Rochester.

The awards program recognizes “the outstanding work of New York state’s destination marketing organizations, attractions, and other tourism- related businesses in all forms of marketing, destination management and stewardship.”

Workshop designed the logo and branding kit for the 250th anniversary of the Battles of Saratoga, famed for being the turning point of the American Revolution. The Battles of Saratoga were a series of engagements that took place from Sept. 19 to Oct. 7 in 1777, resulting in the first-ever surrender by a British army. A county-based committee was provided several logo designs to consider before selecting what was to ultimately be the award- winning logo.

The Saratoga 250’s branding included the recently launch of a website—saratoga250.com —designed and developed by Workshop for the Campaign for Saratoga 250, Inc., a local nonprofit formed to promote awareness, education and preservation around the 250 th commemoration. The site includes video of battle reenactments, information on the fascinating history of the battles on the battlefield and behind the scenes, news and event listings, plus information on how to support and get involved in supporting this historic occasion, Workshop’s integrated teams continue work toward building intrigue and maintaining momentum for

Workshop received a state award for developing this Battles of Saratoga logo.

Courtesy Workshop

the Campaign for Saratoga 250, Inc., across social and digital media.

Workshop was named the recipient of three total awards: • Excellence in Tourism Stewardship: Shaping a Better Future, Saratoga 250 Branding and Logo— Workshop in collaboration with Saratoga County.

• Excellence in Overall Tourism Marketing: TPA/ County/DMO, local level, “Let’s Go Greene 2022 marketing campaign—Workshop in collaboration with Greene County.

• Excellence in Tourism Marketing Campaigns, Projects & Programs: innovations & strategies to address new/unique/changing markets for Adirondack Experience BIPOC marketing efforts— Workshop in collaboration with Adirondack Experience, the Museum on Blue Mountain Lake.

Founded more than 40 years ago to service the 1980 Lake Placid Winter Olympics, Workshop helps destination-oriented businesses define their brands and integrate marketing campaigns that drive connections between audiences and places.

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6 • SARATOGA BUSINESS JOURNAL • OCTOBER 2023

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Office / Tech

Empire State University To Launch Degree M&M Digital Printing Takes Advantage Of Its Program In Digital Media Arts In 2024 Small Size To Handle Rush Jobs For Clients Empire State University has launched a bachelor’s degree in digital media arts to prepare students for careers in graphic design, content creation, web design, and digital storytelling.

The program provides students with the necessary skills and knowledge to thrive in the rapidly evolving world of digital media, officials said.

Students can enroll in the digital media arts program at SUNY Empire beginning spring of 2024.

The program is designed to be flexible, accommodating both full-time and part-time students, as well as transfer students. Employing the “learner as producer” model, students will learn by doing while receiving personalized support and guidance from mentors and faculty with expertise in the field. The duration of the degree program will vary depending on individual course load and prior credits.

The fully online BA or BS in digital media arts features a cutting-edge curriculum offering courses such as media and visual literacy, digital art and design, information design, digital painting and web publishing.

Officials said SUNY Empire’s digital media arts program comes as a result of the rise of digital consumption by the emerging generation of digital natives. According to a study published about digital skills for career progress, the number of jobs requiring digital skills is predicted to increase 12 percent by 2024.

This future-focused program prepares students for careers that are in demand now and in the years to come.

Dr. Thomas P. Mackey, professor of arts and media in the School of Arts and Humanities, said, “We are excited about the launch of the innovative BA and BS program in digital media arts at Empire State University. This is a oneof-a-kind program at SUNY that is fully online and prepares students to produce their own digital media art and design projects.

“This is a transfer-friendly program for students interested in advancing their careers in

Empire State University will have a new bachelor’s degree in digital media arts.

Courtesy Empire State University

a wide range of fields that involve the sophisticated and collaborative production of digital media in today’s connected world.”

Dean of the School of Arts and Humanities dr. Nicola Allain, said the school “is thrilled to offer these new bachelor’s degrees in digital media arts under the leadership of Tom Mackey. These build upon the strengths in the arts and media department and provides cuttingedge skills and knowledge in high-demand fields. Students will leave the program ready to navigate the challenges of changing technologies and evolving employment expectations.”

For more information about applying, visit www.sunyempire.edu/admissions/associatebachelors.

Founded in 1971, Empire State University empowers learners from diverse backgrounds to achieve their educational goals. SUNY Empire’s 97,000 alumni are teachers, nurses, entrepreneurs, and leaders in their communities and their fields. Visit www.sunyempire.edu for more information.

BY PAUL POST Think of a high-powered speed boat that can do circles around ocean liners still leaving the dock.

According to M&M Digital Printing officials, that’s the advantage its small size creates over bigger firms by allowing it to shift gears and get jobs done right away.

“We get a lot of ‘I need it yesterday’ type calls,” owner Matt Flint said. “There aren’t many printers that you can call and say, ‘Hey, can you print these and do it today?’ That’s where we specialize—that same-day, next-day service.”

To keep up with growth and customer demand, Flint moved his decade-old business from 95 Broad St., Glens Falls, to a larger space at 726 Upper Glen St. in Queensbury last year.

“We added some software and equipment including two of our wide-format printers, which streamlined production and we’ll be upgrading our production presses before end of this year,” he said.

Flint plans to attend this month’s Printing United Expo, in Atlanta, to keep up with industry trends and technologies, and connect with others in the field as well.

“I try to go every year,” he said. “They have all the most modern printing presses with the latest features, whether it’s UV or spot coating. All of the printing manufacturers’ latest equipment will be there.”

Flint, a 30-year industry veteran, founded M&M Digital Printing following a lengthy career at Web Graphics, which specialized in offset printing when he started out. “Printing in small quantities was not cost effective and most print jobs took five to seven days to complete,” he said.

Competition from social media is a constant challenge.

“I’ve been hearing for 30 years that paper is going to go away,” Flint said. “Sure, a lot of people use Facebook and Google ads. A majority of customers want to mail something that people can hold in their hands, look at and see. We print and mail post cards, books, magazines, programs and we do a lot to help nonprofits with their fundraising needs.

“For example, we print invitations to an event with an RSVP card and reply envelope. We handle the whole process for them. We print every piece, the whole package. We stuff it, seal it and mail it.

That’s a big part of our business.”

However, the Digital Age opened the door to more opportunities by introducing digital printing that makes production much faster. With the ability to transfer digital files directly to the printer, most jobs can be done within one or two days, if not the same day.

Flint’s decision early on to invest in high-quality equipment has paid off, especially with equipment for large-format printing.

Matt Flint, owner of M&M Digital Printing, running a job through the Dupro finisher.

“Being able to print construction prints in color and on clear or frosted Mylar has been a game changer as more and more local municipalities have made this a requirement when submitting blueprints,” Flint said. “Printing covers a wide gamut of things. Most people just think about a sheet of paper. But printing can be a political sign, posters, a banner, door hanger or it can be smaller items such as a post card and envelope, payroll check or folder. There are so many things that go into that. It’s not just a piece of paper.”

In an era of constant change, dedication to customer service has always been his highest priority, he said.

“Imagine planning an event as a nonprofit and at the ninth hour, you get a sponsor whose logo you need to include in your printed banner or program.

No problem. We’ll make it happen,” Flint said. “We love nonprofits.”

About 85 percent of M&M’s business comes from clients in Warren, Washington and Saratoga counties in addition to the Albany area. But the firm’s reputation for high-quality, prompt service also generates jobs throughout the U.S. “We recently sent menus and a direct mail campaign to Myrtle Beach, flyers to Wyoming, construction prints to Chicago and decals to Michigan,” Flint said. “We have a lot of local designers and marketing firms we work with that may have customers all across the country. That’s how we reach out.”

Another factor contributing to the company’s success is access to graphic design software like Adobe’s suite of design programs and Canva. Software like this makes it easy for individuals to create their own designs for printing.

SARATOGA BUSINESS JOURNAL • OCTOBER 2023 • 7

•

Business Report Cybersecurity Awareness Month

It’s October, which for those in the technology field means it is Cybersecurity Awareness Month.

Since 2004, Cybersecurity Awareness Month has been designated as a time to raise awareness regarding the impact of cybersecurity. Given the devastating impact of cybersecurity attacks, a month does not seem enough. The year 2023 has seen a drastic influx of not only an increase in attacks, but also large payouts to ransomware operators.

No matter the size of an organization, it is a target. No organization is safe from threat actors. Just look at the recent ransomware attacks affecting MGM Grand and Caesar’s Palace in Las Vegas. While these large organizations handle money, casinos are not normally on the list for threat actors until now.

With the increase in attacks and potential costs to organizations, now is the time to focus on basic foundational questions.

Cybersecurity Awareness Month is a popular time for routine tips or practices, but they warrant constant reminders. Traditional guidance holds that organizations should follow several time-tested practices to help protect themselves. They include: • A safe and secure password.

• Utilize multi-factor authentication when possible.

• Data encryption.

• Routine data backup.

• Keep your devices updated.

• Report phishing attempts.

From a tactical perspective, these practices have a significant, positive impact on protecting an organization. Although important, organizations also need to focus on the foundational aspects of their cybersecurity.

Regardless of size, they should focus on addressing basic questions before undertaking a significant investment in cybersecurity defenses. Not focusing on the basics could cause organizations to spend too much money, incorrectly prioritize efforts and create a false sense of security.

Start by asking questions within the organization itself. The questions should be discussed between information technology staff and business leaders on a routine basis.

Asking these questions regularly helps the organization refocus their efforts relative to the emerging threats. Knowing the answers to these questions helps form the foundation of everything that comes next in building and maintaining cybersecurity programs.

Start with a few specific questions along the lines of: 1 . What assets (i.e., computers, servers, data) does the organization possess? The question of an organization’s assets is probably one of the most important. Almost every cybersecurity framework begins with understanding assets. Organizations will struggle protecting themselves if they don’t know how many devices need anti-virus or if they deployed to 100 percent of the device scope. Further, organizations may not detect adversaries creating devices on their net-

Continued From Page 1

•

Christopher Conklin, VP, Chief Information Security Officer, Chemung Canal Trust Company. work.

2. How important are these assets to your mission? Understanding the importance assists the business in prioritizing efforts to protect those assets. You should start with what matters most because those assets will most likely be a threat actor’s target.

3. How many users are there and what data do they have access to? Understanding who has access to what helps you understand the risk each user presents. Knowing the data required by a user can help organizations set access control rights so data isn’t accessible by unauthorized users.

4. Where is the organization’s data coming from and where is it going? Understanding the flow of data helps determine where an attacker might target or what areas need added protection. It’s also important knowing the data’s path can help spot potential exfiltration by ransomware operators.

5. How are you training and educating users regarding cybersecurity? More and more, education is becoming the best line of defense. This is in large part because phishing remains one of the top entry points for cyber attacks. There are several solutions on the market to help combat phishing, but there isn’t one that stops 100 percent of the attempts. Making sure employees know what to look for in a potential phishing email goes a long way.

6. What is your plan when something bad happens? It’s inevitable. Security tools will be bypassed or someone will click on a phishing email. Organizations need a plan and they need to ensure employees understand it. Having a plan will help organizations respond and recover much faster. Further, it could help avoid reputational harm.

Many solution providers use Cybersecurity Awareness Month as a beacon to sell their products. There is usually an emphasis on how their products can stop threat actors.

If only it were that simple. Some providers will also use fear, uncertainty, and doubt to promote their product. The cost of these Continued On Page 9

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GlobalFoundries leading GlobalFoundries Shield protections, to strictly export controlled handling (e.g.

ITAR), to the highest level of accredited microelectronics manufacturing security on the planet, Trusted Category 1A.” The new contract is the third sequential 10-year contract of its kind between the Department of Defense and the Trusted Foundry business team at GlobalFoundries and is the latest milestone in the longstanding partnership between the department and the company.

Regarding facility expansion, Steven Grasso, the company’s senior director of global government affairs, said GlobalFoundries has submitted applications to the CHIPS Program Office to participate in the federal grants and investment tax credits enabled by the U.S. CHIPS and Science Act. “This federal support is critical for GlobalFoundries to continue growing its U.S. manufacturing footprint, strengthening U.S. economic security, supply chain resiliency, and national defense,” he said.

The $280 billion CHIPS and Science Act of 2022 aims to stimulate investment in the country’s semiconductor industry in order to boost the nation’s economy and compete with China.

Officials said the company is redefining innovation and semiconductor manufacturing by developing and delivering featurerich process technology solutions that provide leadership performance in pervasive high growth markets.

U.S. Senate Majority Leader Chuck Schumer said in a statement that GlobalFoundries’ application, puts the company one step closer to expanding its manufacturing abilities in New York.

“I applaud GlobalFoundries for submitting their CHIPS application, because I know its powerhouse workforce and the Capital Region is the place to build the future of our semiconductor industry, which Secretary [of

Commerce Gina] Raimondo saw firsthand when she visited the facility in 2021 at my invitation,” he said. “We have only scratched the surface of what Upstate New York will mean for domestic and global semiconductor manufacturing for generations to come.”

The company announced in May that it bought 800 acres in Luther Forest Technology Park, where its Saratoga County campus is located. The company plans to build a second factory in the park that would be over 600,000 square feet.

8 • SARATOGA BUSINESS JOURNAL • OCTOBER 2023

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Entrepreneurial Women CultureTalk Corporate Assessment Tools Take Amanda Triolo Sees Tremendous Growth At Difficult Subjects And Make Them Easy To Explain Her Grasshopper Heating & Cooling Business

BY CHRISTINE GRAF When leaders of the Veterinary Services division of the United States Department of Agriculture (USDA) were tasked with improving the agency’s internal culture, they turned to CultureTalk for help.

CultureTalk, a Saratoga Springs-based company, was founded by sisters Theresa Agresta and Cynthia Forstmann. The USDA is among a long list of companies and agencies from around the world that have utilized the CultureTalk Platform to measure and define workplace culture.

Organizational culture refers to the values, beliefs, attitudes, systems, and rules that outline and influence employee behavior within an organization.

“It’s common for people to talk about culture, but a lot of people don’t fully understand it,” said Agresta. “It is more often found in the ‘unwritten rules’ than the things that have been spelled out.

CultureTalk can take something that is difficult to define and make it easy to talk about.”

The sisters came up with the idea for CultureTalk while working together on their first joint venture, brand development company Allegory Studios.

“Cynthia and I developed a niche and expertise in brand development,” said Agresta. “Very early on, we discovered the impact that measuring culture had on the development of an authentic brand.

When we were working with a business to differentiate and brand them, the culture was the piece that really stood out to us.”

“If you are selling services, a lot of what you offer is similar to your competitors. It’s your people and your culture that really differentiate you, and that can be why a prospective client might choose your business.”

Agresta said that she and Forstmann recognized that many companies struggled to make their culture tangible, meaningful, and actionable.

“They can’t connect the dots between the culture they want to cultivate and the specific leadership and team behaviors that will get them there.

They struggle to get employees engaged and connected around the culture in a way that employees

Theresa Agresta is one of the leaders at CultureTalk in Saratoga. can rally behind.”

In 2015, the sisters began developing an assessment tool to measure an organization’s culture by using an archetypal framework that draws on the work of Carl Jung. Jung identified universal archetypes, symbols or patterns that are present in the collective unconscious of all humans. By developing an understanding of these archetypes, Jung believed it would be possible for individuals to gain insight into the human psyche and better understand themselves and others.

“It’s a storytelling framework,” said Agresta.

“The framework provides a common language to define the desired culture and allow leaders and teams to identify necessary shifts. It also connects the behaviors of leaders and individual contributors with strategic initiatives.”

CultureTalk developed two validated assessments, one that measures the personality of individuals and another that measures organizational culture. Companies can utilize one or both of the assessments.

Continued On Page 9

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BY CHRISTINE GRAF Thirty-year-old Broadalbin native Amanda Triolo was managing the accounting department at Chris’ Coffee Service when she started flipping houses in her free time. It was a risky proposition but one she thrived on.

“I realized I liked rolling the dice to see what I’m made of,” said Triolo. “So, when I got some money under my belt and got the opportunity to take over a commercial install only HVAC company, I decided to give it a shot.”

Triolo purchased PMA Mechanical LLC in 2016, relocating the business from Broadalbin to Albany. Almost immediately, she recognized the company would have more growth opportunities if she expanded into the residential market.

“From 2016 until COVID happened, I was trying to figure out how to go from the commercial industry to the residential industry,” she said. “I couldn’t figure out how to do it without going bankrupt. I didn’t have the cash flow to be able to hire residential employees and also pay for the commercial employees and wait for the money to come in from commercial jobs.”

In March 2020, while Triolo was still trying to come up with a plan, construction sites were shut down because of the COVID pandemic.

“In the snap of a finger, I had no business at all,” said Triolo. “I had 12 employees at the time, and I had to lay off all but 4.”

Triolo transitioned her remaining employees to residential work, relying on Google ads to market their services. As the phone started ringing, she was able to bring her laid off employees back to work.

“That’s when I started looking around at my competitors—the large companies that have been around for many, many years,” she said.

“I knew I had to be able to do something different in order to survive in the residential world because I was competing against companies that have reputations that are longstanding.”

Triolo began researching the home service industry and ultimately connected with successful business owners from throughout the United States.

“What I found is that they all had really great branding,” she said.

After reaching out to the branding company, New Jersey-based KickCharge Creative, Triolo

Amanda Triolo is the owner o Grasshopper Heating and Cooling. realized she would have to risk everything in order to proceed with the rebranding.

“I used the last $20,000 I had in the bank,” she said.

As part of the rebranding process, KickCharge conducted a complete market analysis and presented Triolo with a list of choices for renaming her company.

“They gave me a few options, but I didn’t like any of them,” she said.

One of the names on the list was Grasshopper, and it wasn’t until Triolo spent some time learning about grasshoppers that she chose Grasshopper Heating & Cooling as the name for her company.

“Grasshoppers only move in a forward direction, and that is the story of who I am and the story of my company. It was very easy to build a brand and a purpose off something that I am passionate about,” said Triolo. “It’s more than just a company name. It’s part of who we are and our purpose that we live out every day.”

After having the company’s four service vehicles wrapped with the distinctive Grasshopper logo, Triolo launched the Grasshopper brand on Feb. 1, 2021. With her bank account depleted, her company was on the verge of going under.

Continued On Page 9

SARATOGA BUSINESS JOURNAL • OCTOBER 2023 • 9

Grasshopper Heating & Cooling Continued From Page 8

“As we were figuring out Google Ads and how to get the phone ringing, we had enough money come in to cover our expenses and payroll. It was really week by week,” she said.

According to Triolo, after the fleet of vehicles hit the road, the phone did start ringing.

Once it did, it didn’t stop.

“I knew within the first three weeks that the branding was working,” she said.

Two-and-a-half years later, Grasshopper Heating & Cooling has 63 employees and a fleet of 38 vehicles. The company sells and services HVAC systems and is currently in the process of expanding into different home service verticals.

“We just launched into plumbing—water leaks, water quality, water treatment, water heaters—and now have a licensed plumber on staff,” said Triolo.

Grasshopper also sells and services air scrubbers, air purifiers, dehumidifiers, humidifiers, and UV lights.

As Triolo continues to build her business,

she said she is focused on providing opportunities to her employees.

“We focus on our employees and treat them so well that our hope is that they treat our customers even better. I attribute a lot of our growth to our culture and to our people who are committed to our brand.”

She said her company takes a unique approach to home services. Their techs have a maximum of four service calls a day. As a result, they are able to spend more time with each customer.

“We tailor every single customer experience to the person,” said Triolo. “We are also taking care of the system as a whole, not just the problem.”

Despite the skilled labor shortage, Grasshopper has had no trouble hiring employees.

“That’s the beautiful thing about our brand,” said Triolo. “We have people applying every day.”

For more information, visit www.gograsshopper.com

Cybersecurity Awareness Month Continued From Page 7

products can be significant.

Spending an exorbitant amount of money doesn’t guarantee safety. Regardless of where you are in the cybersecurity maturity, you are not alone. There is a tremendous amount of free guidance available online. More importantly, there is a fair amount of free help available with risk assessments, penetration tests, or vulnerability scans. There are four organizations that offer free help.

1. The New York State Cyber Incident Response Team (CIRT) is a division of Homeland Security. CIRT aids with risk assessments, tabletop exercises and phishing assessments. CIRT can also help an organization plan its efforts.

2. The Federal Bureau of Investigations (FBI) offers help at the regional level. Regions across New York State have local FBI offices. The FBI offers a wide variety of guidance. Additionally, the FBI also collaborates with InfraGard to help protect various sectors against cyber threats.

3. The Center of Internet Security (CIS) provides controls and benchmarks to improve and harden IT infrastructure. As a bonus, CIS also offers control mapping to help organizations meet regulatory requirements.

4. The Cybersecurity & Infrastructure Security Agency (CISA) hosts information on its website regarding best practices, threat advisories and a variety of educational tools.

Organizations can also partner with CISA for vulnerability scans.

Cybersecurity can be very complex and costly to organizations. This is in part due to the almost constant emergence of new threats. New tools are built in response to the threats, always putting the good ones behind. Offered guidance may also change as the industry changes. The fundamental questions, however, are not likely to change because they form the basis of an organization’s approach to protecting itself. These questions must be routinely addressed before investments are made.

CultureTalk

Continued From Page 8 “Certified practitioners conduct a culture audit,” said Agresta. “It includes the organizational assessment and a series of one-to-one interviews. One or more workshops are run to validate the outcomes of the survey and to create a culture profile. The process generates a lot of authentic, honest conversation.”

While that may sound intimidating, Agresta assures employees and company leaders that they have nothing to fear. Employee feedback is entirely anonymous, and the purpose of the culture profile is not to criticize the leadership team.

“CultureTalk answers the questions ‘Where are we today, and how is that moving us forward or holding us back?’” she said. “Now that we can see where we are, we can identify where we want to go and design an action plan to get there.”

That is what Agresta refers to the “So what?

Now what?” aspect of the platform. She said that is what differentiates CultureTalk from its competitors.

“There are other tools that measure culture and personality, but what differentiates us is the ‘So what? Now what?’ part that is very actionable. There’s a lot you can do to make the outcomes sustainable and shareable– there’s a sticky factor to it.”

More than 160 people in 22 countries have completed the CultureTalk certification pro-

gram which enables consultants and practitioners to validate assessments and implement solutions. The company also trains internal HR and talent management teams.

The platform has received rave reviews including from Queensbury-based IT company StoredTech. In 2022, Stored Tech was recognized by the Times Union as one of the best places to work in the Capital Region.

“They were one of the first clients locally to embed the system,” said Agresta. “They began by measuring and defining their culture. They also use the individual assessment for every hire and they put each person’s archetype profile icons on their name plates. They are an example of a company that is using the system to the fullest.”

Certified CultureTalk consultant Michael Cruz worked to implement the program at the tech company, and Kristina Mobilia, StoredTech’s director of people, completed the Culture Talk certification program.

Within the Veterinary Services division of the USDA, CultureTalk trained 13 individuals. The division’s leadership team has been extremely pleased with the engagement and results.

“The USDA is extremely appreciative of the outcomes they’ve achieved with CultureTalk.

They share that this is actively moving them forward,” said Agresta.

CultureTalk has a number of certified consultants in the Capital Region. For more information, visit www.culturetalk.com.

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Commercial / Residential Real Estate Real Estate Professionals Say Strong Demand For Homes Outpaces The Existing Inventory

BY PAUL POST Area real estate professionals say the fourth quarter heading into 2024 continues to be a strong seller’s market as demand far outpaces inventory for prospective homebuyers.

“It seems that there’s been a decline in homes coming on the market during the past year because many people who are at lower interest rates are holding back, they don’t want to have to buy a house at a higher rate,” said Janet Besheer, of Equitas Realty in Saratoga Springs. “They’re just backing off. So there are fewer sales. We have a lot of disappointed people.”

Pending sales throughout the Capital Region declined 9 percent this summer while closed sales dropped more than 26 percent and total inventory was down 28 percent.

Mortgage rates are currently over 7 percent, more than double the 3 percent level of a few years ago.

“That’s causing a certain portion of the market to step back and say, ‘I’m not going to buy now, we’re going to stay put’,” Besheer said. “Others say, ‘We’ll wait till interest rates come down.’ Well that might be a long wait.”

Meanwhile, prices continue to escalate.

“It’s hard for empty nesters to retire, sell and buy in this market,” said Melissa Cartier, of Saratoga Springs-based Cartier Real Estate Group LLC. “They’re getting a lot for their property, sure, but to purchase at such a higher price point? I don’t know.”

“It’s a really tough time for buyers,” she said. “It’s not fun for them. Lots of people have been looking six months, a year. One buyer I know moved out and rented for a full year before finding a house.”

Some people are so anxious to buy that they’re waiving inspections, which she strongly discourages. “We like to see people be confident in what they’re buying,” Cartier said. “We try to have our buyers be more completive in other areas, like giving the seller more time to move out, not just throwing caution to the wind.”

The situation, at least in part, is a byproduct of the COVID-19 pandemic when large numbers of downstate residents moved north, finding they could work remotely from home in more relaxed, comfortable communities. Homes started getting snapped up as soon as they came on the market, creating stiff buyer competition that caused prices to skyrocket.

“The main people getting hurt were first-time home buyers who couldn’t get a home either because there was so much competition or they just weren’t ready,” said Roohan Realty owner Tom Roohan, of

•

Real estate professionals in the region say it is a tough market for buyers.

Saratoga Springs. “They just got out of college, just got married, had just entered the workplace and were still getting their savings together and thinking about buying a house with interest rates at 3 percent.

Now all of a sudden interest rates are twice that or more and they can’t get as much house as they could have early on. Those are the real victims, I think.”

The good news for sellers is that prices remain high. “$500,000 is the new 300,000,” Besheer said.

“Homes in general are selling at 3.3 percent over list price. That’s huge. The actual median sale price in the Capital Region has climbed to more than $300,000. We’ve always been in the low- to mid$200,000s. So it’s going up. There’s been a real uptick in home prices in Saratoga County and Warren County around the lakes.”

“Even in places like Granville and Argyle that used to be a little too far out for buyers, in Washington County, they’ve seen a major up-tick in purchasing,” she said. “Lake Luzerne became a hot spot during the past three years. Houses fly off the page there as well. So the market has moved out.”

Cartier said, “We encourage people to stretch their geographic areas when looking, to not be in the most competitive places, and to be open to doing updating.”

Homes that sell the fastest, for the highest price Continued On Page 11

Business Report A Malaise Or A Meltdown?

BY STEVEN LUTTMAN Not all relationships are built to last. In the United States, roughly half of all marriages sadly end in divorce. While a decree marks the actual end, oftentimes discontent has been brewing long beforehand.

This is not limited to personal relationships, as business ties often experience difficult periods as well. Despite changing economic conditions, large scale foreclosure activity has so far failed to materialize. It’s starting to appear however that within the world of commercial real estate, we are within the preceding interval of unease.

Some $1.5 trillion of commercial real estate debt is set to mature before the end of 2025.

Whereas residential real estate’s purpose is to provide shelter, commercial real estate is used for business or income-generating purposes. Malls, office towers and warehouses would all be classic examples. In a world of simultaneous low interest and vacancy rates, refinancing maturing debt is a non-issue. In 2023, things are very different.

Over the past 18 months, the Federal Reserve has increased their Fed Funds Rate eleven times, from an effective rate of 0.08 percent in March 2022 to today’s 5.33 percent. This in turn has caused borrowing costs to rise throughout the economy, from credit cards for people like you and me to loan rates for businesses looking to expand.

The result of this abrupt shift in monetary policy is that borrowers who originally obtained loans during the past 15 years of historically low borrowing costs are now faced with refinancing this maturing debt at levels which may turn a once profitable property into a money loser. In this case, securing new financing may not even be possible.

This is especially true when taking into account that filling these properties with tenants is becoming increasingly harder to do. For example, the continued movement towards work from home has been devastating for office buildings. According to an August report from the National Association of Realtors, office vacancy rates in the first half of the year eclipsed 13 percent nationally. In some major metros, nearly one in five office properties actively sought tenants. A drop in revenue of this magnitude makes it difficult to fund necessities such as property taxes, upkeep, insurance, and of course, the loan.

Owners being unable to meet their loan payment obligations is a growing concern.

A select few office buildings in America’s largest cities made headlines recently, and not for good reasons. Marathon Asset Management is said to have acquired a six-story office building next to Penn Station in Manhattan via foreclosure auction for $16.5 mil-

•

Steven Luttman, broker/owner of SJ Lincoln Realty, host of The Expected Returns podcast.

Courtesy Steven Luttman

lion, roughly 25 percent of what the building cost to construct only a few years prior. It’s important to note that office is not the only segment experiencing hardship today. CRE data provider Trepp reported in September that delinquency rates amongst loans backed by retail buildings as well as lodging are both on the rise.

Viewing commercial mortgage-backed securities as a group, those which are 30plus days past due have increased 50 percent year over year. Credit rating agency Fitch announced in May that they anticipate 35 percent of highly rated CMBS that is set to mature by the end of 2023 will be unable to refinance. Said in layman’s terms, “commercial real estate is melting down” -Elon Musk.

Yes, the picture painted above is unfortunate for the owners and the lenders involved, but why should the rest of us care? In the New York state, many of the services we often take for granted (local road repairs, fire departments, public schools, and law enforcement) are in large part funded by property tax collections. When property values fall, it eventually translates into lower assessments. It’s these assessments that determine property tax collection, and a shrinking pool of funds to draw from could harm the quality of these critical services in meaningful ways.

Economies are inherently in constant flux.

Their movements are often described as occurring in stages, cycles, or even waves. Regardless of your preferred adjective, some points along the financial spectrum bring with them hardships.

Those who have experienced periods of turmoil in the past however know that it’s often less painful to address problems early, than it is to try and fix after they’ve already escalated.

SARATOGA BUSINESS JOURNAL • OCTOBER 2023 • 11

As business Grows, Signature ONE Realty Group Opens Offices On Route 9 In Malta

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COMMERCIAL PROPERTIES

340 Broadway | Saratoga Springs, NY $1,212 - $2,828/Month

Three bright open offices available ranging from 450SF to 1050SF! Located in a wellmaintained building in the heart of Saratoga! Building is equipped with lobby, elevator and shared hallway restrooms. Street parking and municipal lots in close proximity.

Tenant will be billed monthly for their share of gas, water and electricity. They are also responsible for their own phone, internet, and cable. Broker has ownership in this property.

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Amy Sutton 518.527.3564 |alsuttonone@gmail.com

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ing classes, customer appreciation events and things like that.”

The 2550 square-foot building contains a full kitchen, a conference/training room, and private office spaces.

When asked about the current real estate market, Quade said, “We are definitely in a shift.

There is no doubt about that. We’ve just come off of an absolutely crazy market, and when you come off something like we just experienced, you feel the change. It is fairly steady right now, and inventory is starting to pick up. But, there still aren’t a lot of great choices for buyers. It’s still a seller’s market, but it’s starting to tilt in favor of buyers depending on the property.”

According to Quade, it wasn’t until interest rates hit 7 percent that the market began to cool.

“We really didn’t see much of an impact when they went to 5 or 6 (percent), but now that they are hovering around 7 to 7.5 (percent), we’re starting to feel it although we are still seeing multiple offers on some of our listings. We are just being really close to the market on pricing.”

One noticeable trend that Quade has observed in the local market is an increased demand for contemporary homes.

“Buyers right now are very trendy,” she said.

“This area has always been a very traditional area up until the last five years, and contemporaries are now popular unless they are dated.

There’s also a lot of demand for ranches with first floor masters.”

For those trying to sell houses that have not been updated, she advises being realistic about pricing and recognizing that potential buyers are willing to buy dated houses only if the price is right.

“If your house is dated and you want top dollar, that is something we will have to talk about.

I always tell sellers that the easiest part is marketing. The hardest part is picking the price— that sweet spot.”

Quade said that it can be difficult for a seller that their pricing expectations are unrealistic.

“Sellers are emotionally involved, and the value is in the eye of the buyer. It’s tough, and we try to give our professional opinion as much as possible. We are trying to look at both sides where both parties win.”

For more information, visit www.signatureonerealtygroup.com

are those that don’t need any work. But quite often a solid house that needs a little updating can be purchased for much less. “Let’s try to get you in at your price point,” Cartier said. “You can do cosmetics down the road.”

Tim Combs, of HUNT Real Estate in Glens Falls, said, “Everybody is getting more money for their houses. People looking to sell are getting a lot more money if everything is maintained. If you want to get full value for your house, a lot of people are doing little projects before they sell to make them more attractive.”

Other advice?

“Smart buyers can find housing quicker in this market by using tools like getting pre-qualified, which means you’re ready to make a deal,” Combs said. “A lot of buyers go out there and just start looking at houses and they don’t even know how much they can purchase. Once they look at a house and fall in love with it, they have to wait until their financing is approved.”

Most new home construction in the Capital Region is high-end, so buyers shouldn’t expect to see much affordable housing come on the market any time soon.

“I don’t see much changing,” Cartier said. “I think lenders are going to have to offer promotions to help people want to sell and buy. A lot of home owners that bought with 3 percent loans don’t want to sell because they’re afraid to buy at 7 percent. Trustco is now offering a ‘split the difference’ initiative that gives rates in the middle. Lenders are going to have to do things like that because people can’t justify doubling their interest rate unless they really need to

FO

BY CHRISTINE GRAF Signature ONE Realty Group recently celebrated grand opening of its new offices at 2460 Route 9 in Malta.

Prior to relocating, their office was just a short distance away at 2575 Route 9.

“We leased that space for almost four years, and we outgrew it,” said owner Cindy Quade, a licensed real estate broker with more than 35 years of experience. “We also wanted to have our own space.”

Quade started her real estate career in new construction and branched out into resale after years of referring business to other brokers.

“We had a huge demand from a lot of past clients to do resale,” she said. “We had been referring out a lot of that business for a lot of years.”

When rebranding the business in 2018, its name was changed from Signature Homes Realty to Signature ONE Realty Group. The firm has grown to include 12 agents, and to date, sales have totaled close to $1 billion, according to Quade.

“Our focus is to provide one-on-one service to clients,” said Quade. “We aren’t looking to be the largest company but to be the best—to make sure that the client receives the service they expect and deserve.”

Quade specializes in new construction which makes up about 50 percent of the Signature ONE’s sales.

“My roots and passion are in new construction and working with builders and helping people to build and design a home,” she said. “A few of my agents like to do new construction as well.”

The company’s new office is located just south of the main traffic circle in Malta. Quade purchased the property in 2018 with hopes of restoring the existing building.

“That was just was not feasible, and my vision really changed at that point,” she said. “We tore down the structure and relocated the foundation which allowed us to get more parking. It’s a very small lot, but we really utilized the plot very well. Scott Lansing was our engineer.”

“I wanted it to be very homey—very warm and welcoming on the outside and not too office feeling on the inside while still having form and function. It’s designed to be very communitycentric so that we can do wine tastings, cook-

Continued From Page 10

buy, really need to move.”

Anyone who can pay cash has a decided advantage.

“If you don’t have cash you must definitely speak to a couple of lenders to find out what you can safely afford. That’s the first thing,” Besheer said. “Next, engage a buyer-agent to be your guide. Have them show you properties you can afford so you become familiar with the inventory. That way, if you have to make a quick decision, you can because you understand what you can get for your money. You can buy a house and be happy without second-guessing yourself for the rest of your life. But you have to be ready to move, you have to be ready to take the plunge.”

“You also have to be prepared to go over the asking price,” she said. “That’s another reason to have a knowledge of the inventory in your area, and have someone who can say to you, ‘I think this is still a good buy even if you go over’.”

Roohan said people might have to adapt to a “new normal” in the marketplace and adjust their expectations accordingly. “Interest rates are higher, but I think we were spoiled for a period there,” he said. “When I first entered the real estate business fixed rate mortgages were 17 percent. I hope we don’t ever see that again, but I think interest rates have sort of stabilized.”

“My crystal ball says, ‘If you’re sitting on the sidelines and want to do something, get off the bench because although you might be unhappy about interest rates, they aren’t bad in an historical context,” he said. “More people are coming to market with their homes. They sat on the sidelines a little bit. They couldn’t make a decision about what to do.

Now they’re making those decisions. We’re hoping our listing inventory for prospective purchases keeps growing a little bit.”

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Owner Cindy Quade, front right, poses with staff in the new Signature ONE Realty Group offices where the company celebrated the grand opening of the building on Route 9 in Malta.

Real Estate

537 Queensbury Ave | Queensbury $2,900/Month

2,000 SF office building with 5 offices, open area and storage. There are approved plans for a 3,000 sf warehouse that could be built quickly. Can be used as office space, warehouse, workshop, distribution facility or any combination of the above. LL will fit up space to accommodate tenant needs.

Location is convenient to the east shore of Lake George. 3 year lease preferred.

Cynthia Hollowood 518.207.7682 | Anne O’Toole 518.207.5090

12 • SARATOGA BUSINESS JOURNAL • OCTOBER 2023

REGIONAL STOCKWATCH

State Awards Three Farm Protection Grants Topping $108 Million To Saratoga PLAN

PROVIDED BY: ROBERT SCHERMERHORN, CFP

18 DIVISION ST.-SUITE 305, SARATOGA SPRINGS, NY 12866 (518) 584-2555

SECURITIES OFFERED THROUGH: LPL FINANCIAL / MEMBER: FINRA AND SIPC

Stock Name

Closing Price 09/01/2023

Albany International Corp.

Arrow Financial Corporation AT & T Inc. Ball Corporation Ballston Spa Bancorp, Inc Bank of America Corporation Best Buy Co., Inc Citizens Financial Group, Inc. Espey Manufacturing & Electronics Corp General Electric Company Hilton Worldwide Holdings Inc. The Home Depot, Inc. International Paper Company KeyCorp Lowe’s Companies, Inc. Martin Marietta Materials, Inc. M&T Bank Corporation McDonald’s Corporation National Grid Plc NBT Bancorp Inc. Plug Power Inc. Quad/Graphics, Inc. Starbucks Corporation Sysco Corporation Latham Group, Inc. Target Corporation The Toronto-Dominion Bank Kaspien Holdings Inc. Trustco Bank Corp NY Verizon Communications Inc. Walmart Inc.

Closing Price 09/08/2023

Closing Price 09/15/2023

Closing Price 09/22/2023

Closing Price 09/29/2023

93.33

86.36

85.47

85.74

86.28

18.02 14.65 54.93

17.65 14.40 52.09

18.25 15.23 51.68

16.92 15.12 49.54

17.02 15.02 49.78

51.00

50.67

53.00

53.00

53.00

28.98 75.27

28.36 73.23

28.84 71.47

27.64 69.25

27.38 69.47

28.63

27.37

27.96

26.56

26.80

17.50

16.90

15.47

16.50

16.15

114.24

111.72

115.49

111.17

110.55

151.00 333.08

154.12 328.71

154.41 321.40

147.59 305.73

150.18 302.16

35.19 11.56 232.51

34.63 11.25 231.29

34.24 11.72 220.02

34.07 10.61 210.49

35.47 10.76 207.84

457.39 125.76

438.09 121.78

425.13 129.30

406.38 124.27

410.48 126.45

280.94 62.90 34.78 8.51 5.29 98.00 70.29 3.71 125.52

279.22 63.17 32.75 7.96 4.98 95.28 69.95 3.16 123.69

278.23 64.23 32.80 8.52 4.96 96.23 71.02 2.70 123.05

272.22 63.36 30.83 7.43 4.95 93.68 68.63 2.46 112.60

263.44 60.63 31.69 7.60 5.03 91.27 66.05 2.80 110.57

61.23 0.12 28.99

59.12 0.13 27.69

62.11 0.12 27.62

60.64 0.20 26.67

60.26 0.21 27.29

34.86 161.57

33.45 163.77

33.79 164.64

33.28 162.35

32.41 159.93

*Data sourced from Morningstar **Stock investing includes risks, including fluctuating prices and loss of principal. This is for informational purposes only and not intended to provide specific advice or recommendation for any individual.

New York State is awarding more than $6 million to strengthen New York’s agricultural industry through the Farmland Protection Implementation Grants program.

The eight awarded projects will protect a total of 2,014 acres of valuable farmland across the state, helping to keep agricultural land in production, ensure the long-term viability of New York’s farming operations, and protect the state’s potential for carbon sequestration on these agricultural lands.

Three of the grants went to Saratoga PLAN for land in Saratoga County.

Saratoga PLAN was awarded $690,258 to protect 158 acres, with 36 percent productive soils, on Drummland Farm, $565,276 to protect 79 acres, with 77 percent productive soils, on Betterdays Farm, and $550,488 to protect 76 acres, with 59 percent productive soils, on Two Lions Farm in the equine category, “Protecting our state’s farmlands is a critical component not only to protecting our environment, but also maintaining the economic viability of the state’s agricultural industry for generations to come,” Gov. Kathy Hochul said. “This program gives farmers the support they need to conserve land while expanding market opportunities so they can continue to produce and sell some of the highest quality foods, beverages, and products in the country that sustain our communities.”

“Farming is a cornerstone of New York’s economy and we must ensure our farmlands are preserved,” said Lt. Gov. Antonio Delgado.

This is the 19th round of the state’s Farmland Protection program. Last year, for the first time ever, the program awarded funding to projects to support the state’s top priorities—like food security, climate resiliency, and source water protection—as well as expanded eligibility criteria for the program

to include the agroforestry, equine, and wine sectors.

In addition, the eligibility criteria for the program has been expanded again, now including three new categories: field crops, livestock or livestock products, and access to farmland. Access to farmland is specifically intended to help address ongoing challenges facing new and beginning farmers as well as retiring farmers in this area.

The state Department of Agriculture and Markets administers the Farmland Protection Implementation Grants program and its associated grant opportunities. Grant applications are accepted on a continuous basis, until all funds have been awarded.

The program provides financial assistance to counties, municipalities, soil and water conservation districts, and land trusts to enable them to implement farmland protection activities consistent with local agricultural and farmland protection plans.

The most frequently funded activity is the purchase of development rights on individual farms. However, the program also awards funding to enable other implementation activities, such as amendments to local laws affecting agriculture, option agreements, and covering the transaction costs of donated agricultural conservation easements.

State Agriculture Commissioner Richard A. Ball said, “Farmland is one of the most important natural resources we have.

The Farmland Protection Program helps us to not only preserve our land and our rich soils, but also to help farmers to continue their operations, protect their way of life, and continue putting food on the table for New Yorkers and people worldwide. I congratulate all the awardees for participating in this program that is helping us to meet our climate goals and forever conserve our working landscapes for future generations of farmers.”

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SARATOGA BUSINESS JOURNAL • OCTOBER 2023 • 13

GT Toyz Motor Sports And Marine Plans To High Rock Wine & Spirits Wants To Grow Its Expand On Its Route 9 Halfmoon Property Selections Of High-End Products from NYS

GT Toyz Motor Sports and Marine in Halfmoon plans to expand in the marked area. Owner Greg Goldstein opened four years ago and says business is growing.

BY SUSAN ELISE CAMPBELL Greg Goldstein opened the doors of GT Toyz Motor Sports and Marine four years ago and is already expanding the fullservice dealership to keep up with growing and shifting demand for motorcycles, motorboats, all terrain vehicles, and other sporty equipment like jet skis and snowmobiles.

All permits are in place and groundbreaking is soon to begin on an expansion that will increase parking space and showroom space for the business at 1537 Route 9 in Halfmoon, and continue to accommodate administrative offices and a growing service department.

There is 7,500 square feet of space now, and Goldstein said he is “trying to figure out how to reconfigure” optimally the property that the business purchased five years ago. He said he is filling in a ravine for parking and wants to consolidate boat storage, which overf low is now across the street and at another rental location.

Goldstein credits the growth of GT Toyz to his retail background selling automobiles for his father, Alan Goldstein of Goldstein Auto Group, a career training that developed an attitude he believes other dealership owners do not have.

“A retail background gives you the men-

©2023 Saratoga Photographer.com

tality of doing what is right for customers and treating them the way you like to be treated,” said Goldstein. “So we try to hire good people with similar values.”

He said his business is as challenged as any other by finding and retaining a competent staff.

“Your staff is your biggest asset or liability,” he said.

Much of the company’s growth is coming from “selling gaps in the industries,” he said. “For example, we were in the pontoon business only, but saw a need for adding manufacturers of fiberglass boats and fishing boats. Also with motor sports, we added Kawasaki to fill a gap in that market.”

He said in the car world, manufacturers have long-standing standards for handling customer relationships, and “the motor sports industry is just stepping into that.”

The company philosophy is resulting in healthy boat sales, he noted.

“The last few years we have sold a lot of boats to first-time buyers,” Goldstein said.

“If the buyer is uncomfortable, I tell them I will take them out the first day, whether it’s two hours or all day, whatever it takes.”

To further differentiate GT Toyz from the competition, Goldstein has offered a lifetime engine warranty on motor sports

Ron Murphy stands in front of the new business he co-owns in Ballston Spa, High Rock Wine and Spirits at 2149 Doubleday Ave. ©2023 Saratoga Photographer.com

BY ANN DONNELLY High Rock Wine and Spirits, owned by Ron Murphy and Daniel Munn, will open this month at 2149 Doubleday Ave., Ballston Spa. The store will be sharing a location with Murphy and Munn’s existing businesses, High Rock Realty and High Rock Property Management.

Each business partner has over 30 years of experience appraising, selling, and managing real estate in the Capital District, and they are now applying their business acumen to wine and spirits.

For Murphy, the startup of High Rock Wine

and Spirits is a return to his roots. He said his grandfather owned breweries up and down the East Coast. It was the family business throughout Murphy’s childhood, and it has always been an interest of his.

The Adirondack-themed shop offers a wide selection of wines and spirits, “including readyto-drink cocktails, tequila, and whiskeys that are big right now,” said Murphy. “In time, we want to grow the selection of higher-end and New York state-produced wines and spirits.”

They are also considering adding delivery and online ordering in the future.

over the 2022-2023 season, which includes motorcycles, scooters, utility vehicles, dune buggies and ATVs. This year has been “hot to cold, season to season,” according to Goldstein. But his business is well-diversified with 18 different manufacturers represented.

Early on he sold used high-performance automobiles, but “now half our sales are motor sports and we sell a few cars,” he said. “But it is a market to be had.”

Visit gttoyz.com for inventory, financing information, job opportunities, and more.

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14 • SARATOGA BUSINESS JOURNAL • OCTOBER 2023

New Year's Fest

Continued From Page 1 New Year’s Fest as a fun way for folks to celebrate the start of 2024 in Saratoga Springs,” said Todd Shimkus, president of the Saratoga County Chamber of Commerce. “We are especially proud to offer a free, family-friendly portion of the festival this year with live outdoor entertainment before the fi reworks display.”

“Events like the Saratoga New Year’s Fest are part of what makes this region such a vibrant year-round tourism destination,” said Darryl Leggieri, president of Discover Saratoga. “We love welcoming festival goers from near and far to ring in the new year at this popular annual Saratoga celebration.”

“The City of Saratoga Springs is excited to partner on the Saratoga New Year’s Fest once again,” said Saratoga Springs Commissioner of Accounts Dillon Moran. “I look forward to

the growth of this event as we enter the second year. Giving visitors and residents the opportunity to experience New Years Eve with these world class performers and the family friendly fi rework show provides a tremendous amount of value to our local businesses, our community and our city.”

“The Saratoga Springs City Center is glad to be the largest host of Saratoga New Year’s Fest and welcomes the event back to kick off 2024,” said Ryan McMahon, executive director of the Saratoga Springs City Center. “We are proud to host the event’s headlining performances and invite attendees to celebrate the new year by enjoying the live entertainment from this year’s fantastic lineup of artists.”

Advance sale tickets are available now.

Single tickets start at $25 each, with group discounts and VIP upgrades available.

More information about the Saratoga New Year’s Fest is available online at saratoganewyearsfest.com.

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.

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.

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.

Wheatfields 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.

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.

ORDER ONLINE FOR LOCAL DELIVERY & PICK-UP! USE CODE: FREE2023 TO GET FREE DELIVERY* ON YOUR FIRST ORDER. *ORDER MUST BE $75 OR MORE.

70 Congress Street, Saratoga Springs

518-584-5400

www.purdyswine.com

Morrissey's Lounge & Bistro Saratoga Springs, NY 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.

Wallie's of Greenwich Greenwich, NY Wallie's of Greenwich is a family-friendly restaurant and pub that features a large rooftop space and serves delicious American fare, like salads, sandwiches, large entrees, and specialty cocktails. Stop by for a great meal with family and friends.

Chez Pierre Gansevoort, NY Experience the very best in Country French cuisine and fine dining at Chez Pierre Restaurant, conveniently located on Route 9 in Wilton NY, just minutes north from downtown Saratoga Springs.

The Wishing Well Restaurant Gansevoort, NY The Wishing Well is an award-winning restaurant in Gansevoort, serving the region's finest selection of premium steaks, live lobsters, fresh seafood, and wines. Stone fireplaces, a piano bar, and attentive service are hallmarks of this dining spot.

Carson's Woodside Tavern Malta, NY With spectacular views of Saratoga Lake and the Vermont mountains, our huge patio, (The Overlook), and gorgeous new Lakeview Room are the perfect spots for great food, drinks, and entertainment. Only 7 miles from Saratoga Spring The Saratoga City Tavern Saratoga Springs, NY Looking for an upscale tavern in Saratoga?

Stop by Saratoga City Tavern in Downtown Saratoga. We have five floors of fun and extraordinary features such as our private rooftop deck. Our venue is the perfect place for a night out in 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 takeout and gift certificates too!

9 Miles East Saratoga Springs, NY 9 Miles East in Saratoga Springs uses highquality ingredients to create delicious pizza and fun farm food with big flavors from around the world. They serve breakfast, lunch, and dinner in a friendly, casual setting.

30 Lake Saratoga Springs, NY Make a Date at 30 Lake! Situated in the heart of downtown Saratoga, 30 Lake is a high-quality American and seafood restaurant that is dedicated to freshness.

PJ's BAR-B-QSA Saratoga Springs, NY Experience the best barbecue from coast to coast right here in Saratoga Springs! PJ's BAR-B-QSA offers the best barbecue fare from across the country, as evidenced by their recognition in many local, regional, and national Courtesy Saratoga.com

SARATOGA BUSINESS JOURNAL • OCTOBER 2023 • 15

Business Briefs •

•

The Mechanicville District Public Library is offering a complimentary Social Security Information program on Wednesday, Oct. 11 from 6-7 p.m. for pre-retirees ages 55-70.

The fi nancial education program is designed to help attendees learn the basics Social Security and how to best apply the information in order to make an informed claiming decision prior to collecting them.

Answers to frequently asked questions will be provided: Can I collect benefits if I’m still working? Is it better to collect benefits sooner rather than later? How are my Social Security benefits calculated?

The event has been a longstanding library program and is being presented as a community service by John Kalil, a fi nancial advisor and the founder and president of Retirement Solutions, LLC. The program is open to the public and there is no cost to attend.

Due to seating limitations, advance registration is required. To RSVP, contact the library directly at 518-664-4646 or email john@retirementsolutionsllc.com. *

*

*

The Town of Halfmoon Highway Superintendent Bill Bryans announced a road construction project that will begin Monday, September 25, on Woodin Road.

The town Highway Department will reconstruct Woodin Road from Grooms Road to the town line in the area of Windsor Drive. The infrastructure project will enhance the safety and mobility of area motorists.

According to the U.S. Department of Transportation, road infrastructure is critical in reducing traffic fatalities and injuries. Safe, well-maintained roadways make a vital difference in saving lives, reducing commute times, and connecting citizens, communities, and commerce.

For more information on the construction

project call the Highway Department at (518) 371-7410. *

*

*

The U.S. Small Business Administration (SBA) Syracuse-Upstate New York District Office has officially launched the call for nominations for the 2024 National and District Small Business Week Awards, including the annual Small Business Person of the Year Award.

Th is annual event aims to recognize the contributions of small businesses nationwide.

Last year’s winners included businesses located in Albany, Syracuse, Central Square and Sherburne New York.

Visit the SBA’s dedicated website at www. sba.gov/nsbw to download forms, criteria, and guidelines for submitting a nomination. The Syracuse-Upstate New York District Office Nomination Guidelines and district awards categories can also be found on SBA’s dedicated website at www.sba.gov/national-smallbusiness-week/district-office-awards.

The SBA awards given in celebration of National and District Small Business Week include the following: Syracuse-Upstate New York District Small Business Week Categories: Small Business Person of the Year (National and District), and Small Business Exporter (National and District) Local District Awards: Minority Small Business Champion or Business of the Year, Veteran Small Business Champion or Business of the Year, Women in Business Champion or Business of the Year and Rural Small Business Champion or Business of the Year.

The Upstate New York District Office must receive all nominations by electronic submission no later than 4 p.m. on Dec. 7. To obtain additional information, contact Jeff rey Boyce at Jeff rey.Boyce@sba.gov.

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20 MAPLE STEET

FACING THE PARK 4000 SQ/FT PRIVATE OFF STREET PARKING

5 Warren Street - Includes off street parking Let our professional design team create your customized space!

Call Glen Street Associates • 743-8666 Brokers Encouraged

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Available Commercial & Residential Properties We’d like to promote your commercial or residential property. Call us, 581-0600.

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16 • SARATOGA BUSINESS JOURNAL • OCTOBER 2023

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