Saratoga Business Journal - April 2022

SBJ P.O. Box 766 Saratoga Springs, NY 12866

SARATOGA BUSINESS JOURNAL

VOL. 27 NO. 02

HH The Business Newspaper of Saratoga County HH

PRSRT STD U.S. POSTAGE

PAID

GLENS FALLS, NY 12801 PERMIT #600

APRIL 2022

www.saratogabusinessjournal.com

CEG Analysis Says Saratoga County Saw Organizers Of Chowder Fest Report That Population Gain During The Pandemic Attendance At Annual Event Topped 30,000 The Capital Region continued to grow through the pandemic, making it one of only two economic development regions in the state to see total population gains between July 1, 2020, and July 1, 2021.

Even more, the eight-county region had New York’s greatest number of annual net domestic movers during that period, according to a Center for Economic Growth analysis of new U.S. Census Bureau estimates.

CEG said Saratoga County saw the state’s second biggest gain in annual net domestic movers and also had third largest total population annual gain in state.

Warren County ranked 12th for annual net domestic movers, the agency said.

“We are a million-strong region and getting bigger. The Center for Economic Growth launched our CapNY talent attraction campaign in April 2021,” said CEG President and CEO Mark Eagan. “We sensed that if we could raise awareness about all the opportunities and lifestyle in the Capital Region, then more people would want to come here to work and live.

We were onto something, and these Census Bureau population estimates show that.

“The GoCapNY.com website is attracting much traffic, especially from the New York City and Boston areas, and we will be launching new initiatives to engage and connect with interns this summer.”

CEG said that between July 1, 2020, and July 1, 2021, the eight-county region’s population grew by 1,212, or 0.1 percent, to 1,106,274. The only other Regional Economic Development Council region to see population growth was the Hudson Valley, which picked up 3,032 people, or .01 percent. The statewide population declined by -1.6 percent. The five-county Albany-Schenectady-Troy metropolitan statistical area (MSA) also saw a 0.1 percent population gain to 918,259.

Among the eight counties in the Capital Region, half grew their populations over the year: Saratoga (+1,670), Greene (+609), Schenectady (+228), Columbia (+228).

Rensselaer County sustained the biggest loss (-691), followed by Albany (-625), Washington (-187) and Warren (-20).

Saratoga County had the state’s third largest total population gain (+1,670).

CEG said driving the Capital Region’s growth was an annual net domestic migration of 3,176 and a net international migration of 541. The Capital Region’s domestic annual net migration was by far the largest in the state, with the North County region trailing at 239. Warren County ranked 12th at 315.

CEG launched a talent attraction campaign in April 2021 using the CapNY brand. The talent campaign works Continued On Page 16

Former Owners Of Carney’s Tavern Open ‘Finnigan’s On The Lake’ On Ballston Lake

BY CHRISTINE GRAF Finnigan’s on the Lake is a new tavern and grill located on Ballston Lake.

The space at 175 Lake Road was previously occupied by Villago Pizzeria, which operated there for seven years before closing in July of last year.

Before opening Finnigan’s on the Lake, owners Matt and Stephanie Finnigan operated Ballston Lake’s Carney’s Tavern from 2013 until 2021.

The couple made the decision to close Carney’s after an inspection of the building revealed structural problems that would be too costly to repair. They began looking for a location to establish a new eatery in either Clifton Park or Latham.

“We had looked at this location (175 Lake Road) a year prior. It had been for sale for a while, but it just wasn’t turnkey enough for the price they were asking at the time,” said Matt Finnigan. “As luck would have it, the stars just kind of aligned and somebody else bought the property and we ended up coming up with the lease option on the building where we have first option to buy. We had just begun looking at spaces, and it was inside of three weeks that this just kind of landed in our laps.”

The Finnigan’s do not own or operate the boat launch that is across the street from the eatery.

In prior years, boaters were able to pay at the restaurant to use the launch, but that is no longer the case.

Carney’s was the first restaurant that the Finnigan’s owned, but Finnigan himself has decades of experience in the restaurant industry.

“I started when I was a kid,” he said. “My grandparents were part owner of Latham Bowl, and I was flipping burgers when I was eight years old.”

He was the kitchen manager at the Orchard

The Saratoga Chowder Fest ‘N Tour in March involved 74 vendors, including 12 firsttime participants, who sold 83,931 bowls of chowder, according to Discover Saratoga which organized the event.

Over 30,000 people attended the event, officials said.

It was held Saturday, March 19, through Saturday, March 26. Chowder lovers had the opportunity to dine-in or purchase pints and quarts of chowder to-go at participating locations throughout the week.

The 24th annual Chowderfest celebration took place on Saturday, March 26, 11 a.m. to 4 p.m. Event-goers sampled a variety of chowder from participating vendors for $2 each and voted for their favorite.

Winners were chosen in eight different categories. The Chowder Fest ‘N Tour winners are: • People’s Choice 500 bowls or less: The Mill on Round Lake, Bubba Gump Chowder.

• People’s Choice 501-750 bowls: Dizzy Chicken Wood Fired Rotisserie, Brazilian Smoked Seafood Chowder.

• People’s Choice 751-1,000 bowls: Ribbon Cafe, Southwest Shrimp Corn Chowder Topped Tequila Lime Bacon and a Wonton Popper.

• People’s Choice 1,001-1,500 bowls: Wheatfields Restaurant & Bar, Crawfish Cajun Corn Chowder.

• People’s Choice 1,501- 2,000 bowls: Henry Street Taproom, Bacon and Pickle Buffalo Chicken Chowder.

• People’s Choice 2,001-3,000 bowls: Parting Glass, Luck of the Irish Chowder.

• People’s Choice 3,001-4,000 bowls: Cantina, Creamy Chicken Jalapeño Chowder, • People’s Choice 4,001+ bowls: Jacob &

People crowd Caroline Street in Saratoga Springs during the Saratoga Chowder Fest.

Courtesy Discover Saratoga

Anthony’s American Grille, Jacob’s Chowder.

“Discover Saratoga would like to thank everyone who participated, sponsored, volunteered, and celebrated Saratoga Chowder Fest ‘N Tour,” said Discover Saratoga President Darryl Leggieri. “After two challenging years, it was great to get back to some sense of normalcy.

The support of our members, community and city officials is truly appreciated.”

Official Saratoga Chowder Fest ‘N Tour merchandise is still available for purchase at the Saratoga Springs Heritage Area Visitor Center located at 297 Broadway. For more information, call (518) 584-1531.

The 24th Annual Chowderfest is made Continued On Page 6

Return-To-Work Grant Program To Help Tourism Businesses Rebound From COVID

Finnigan’s on the Lake is a new tavern and grill located on Ballston Lake. ©2022 Saratoga Photographer.com

Tavern in Albany and worked for all five Ground Rounds that were once located in the Capital Region. He ran Carney’s with his wife, Stephanie, who now runs Finnegan’s front of the house and can be found behind the bar four nights a week.

According to Finnigan, the pandemic made the already difficult job of operating a restaurant even more challenging. Owners have been forced to contend with staffing shortages, food cost increases, and COVID protocols.

Before opening their lakeside restaurant, the Finnigans completed an extensive remodel to the existing space.

“It needed a lot of work. Everything was stark and white, and we wanted to keep it bright while doing an Irish Celtic thing,” he said. “We hired a friend of ours who became our project manager Continued On Page 4

The New York State Tourism Return-toWork Grant Program, created to incentivize employment growth by providing financial assistance to businesses in the tourism industry that suffered economic hardship due to the COVID-19 pandemic, has grants of $5,000 up to $200,000 to incentivize employment growth for businesses in the tourism industry.

Qualifying tourism businesses will be eligible for grants of up to $5,000 per net new full-time employee, and $2,500 per net new part-time employee hired.

To receive a full benefit, employers will have to maintain employment increases over six months.

Grants will be limited to for-profit or nonprofit businesses servicing the public and engaged in a tourism-related fields including accommodations, arts, entertainment, sightseeing, transportation, tour operators, convention and visitor groups, or other businesses that, in ESD’s sole discretion, qualify as businesses in the tourism industry.

Further, to qualify for grant assistance, all eligible applicants must: • Increase their average employment between Jan. 1, 2022 and June 30, 2022 by at least 2 net new full-time equivalent jobs; • Continue to be in operation as of the date of application.

• Have experienced economic harm resulting from the COVID-19 pandemic, as evidenced by a year-to-year decrease of at

least 15 percent of gross receipts or gross wages between 2019 and 2020 (Applicants must demonstrate a year-to-year loss of at least 15 percent; however Applicants with 25 percent or greater loss will receive priority).

• Be in substantial compliance and attest to being in substantial compliance with applicable federal, state and local laws, regulations, codes and requirements.

• Not owe past due federal, state or local taxes, unless making payments pursuant to and complying with an approved binding agreement with the appropriate taxing authority.

• Not be currently participating in the NYC Musical and Theatrical Production Tax Credit program or the Empire State Musical and Theatrical Production Tax Credit Program; • Not be more than 5 percent owned, directly or indirectly, by a publicly traded company.

• Be open to and/or service the public.

A total of $100 million in funding has been allocated to award grantees for increasing their average employment between Jan. 1, 2022 and June 30, 2022, as compared to a baseline employment period between Oct. 1, 2021, and Dec. 31, 2021, officials said.

For seasonal businesses, an alternative baseline average employment period will be established.

For more information, visit esd.ny.gov/ tourism-return-work-grant-program.

2 • SARATOGA BUSINESS JOURNAL • APRIL 2022

‘Cooley Kill Restaurant & Bar’ Opens At Van Patten Golf Course; Operates 4 Days A Week

Personnel Briefs •

•

Michael Spaulding has joined the NBT Insurance Agency as vice president of retail-personal insurance.

Spaulding is a member of the NBT Insurance leadership team and will lead the expansion of the Agency’s Retail-Personal Insurance Division.

He brings more than 25 years of experience to his new position, including leadership positions in sales, underwriting and operations.

He comes to NBT Insurance from Travelers Insurance Companies where he most recently served as Eastern New York state regional sales director.

The vice president of retail-personal insurance is a new position at the agency, intended to drive growth in our current and expanding footprint, the company said.

Spaulding is part of the expanding team of insurance professionals based at NBT Bank’s Saratoga Springs location.

Currently a board member of Big Brother Big Sisters of the Southern Adirondacks, Spaulding previously volunteered as a youth sports coach in the Queensbury area where he resides with his family. *

*

*

Saratoga Hospital has named Kristin Mosher director of marketing and communications, responsible for internal and external communications at all hospital locations.

She also will play a key communications role for the Albany Med Health System. In addition to Saratoga Hospital, the system includes Albany Medical Center Hospital, Albany Medical College, Columbia Memorial Health, Glens Falls

Hospital and the Visiting Nurses Association of Albany.

Mosher, of Ballston Spa, joined Saratoga Hospital in 2016 to head its digital marketing efforts. She dramatically increased the hospital’s social media presence, oversaw the redevelopment of 10 websites under the Saratoga Hospital umbrella, and took on the day-to-day management of the marketing and communications department.

Mosher came to Saratoga Hospital from WEGO Health, now part of the social health company Health Union. She holds a bachelor’s degree from Bryant University in Rhode Island and certifications in digital, mobile, online, content and inbound marketing. *

*

*

Tara Pepis, Ph.D., has joined the SUNY Empire State’s School for Graduate Studies as assistant dean for accreditation, licensure and partnerships.

She will begin her position remotely and will be located in Saratoga Springs as of Sept. 1.

Since 2020, Pepis has served as the assistant dean of Student Support and Assessment at SUNY Geneseo. In that position, she developed campus wide interventions for students who were struggling in academic coursework, created an academic bootcamp for students on academic probation, and implemented online academic support programs to assist students during the pandemic. Before that, she was the college’s director of field experiences and oversaw those experiences for 850 undergraduates in the School of Education.

She has a Ph.D. in educational policy, research and administration from the University of Massachusetts, Amherst. She received an M.A. in teaching English from Agnes Scott College, and an M.A. in communication from The New School. She has a bachelors degree in theatre and English from Smith College.

Continued On Page 14

Van Patten Golf Club in Clifton Park, known for its quality golf course and scenic views, will officially open its Cooley Kill Restaurant & Bar on April 14.

Courtesy Van Patten Golf Course Van Patten Golf Club in Clifton Park will open its Cooley Kill Restaurant & Bar on Thursday, April 14.

A grand opening is planned for 2 p.m. that day.

The opening celebrations will continue Friday, April 15, with the golf course opening for play at 8 a.m. for the first time of the season. Later that evening will feature live music from Skippy and The Pistons from 7-10 p.m., and a firework display starting around 8:30 p.m.

The Cooley Kill Restaurant & Bar opened for guests on Wednesday, April 6. Passholders and the general public are invited to visit Wednesday through Saturday, with hours of operation from 4-9 p.m.

Reservations are requested at www.

CooleyKillRestaurant.com.

The restaurant’s name and re-designed logo pay homage to the Cooley Kill, a once vital water supply resource to the early settlers of what is now Clifton Park, according to the owners.

Today, Cooley Kill remains an important asset to Van Patten Golf Club as it functions as the club’s main drainage line, pulling water from

Chuck Ciaccia 27 years

Jude Gosh 32 years

the course and depositing it into the property’s ponds. Once there, the water is then used to irrigate the course.

Cooley Kill will offer both a bar and dining menu that will feature several fresh seafood offerings including fish and chips, jumbo shrimp, calamari, scallops, lobster tail, and honey chili salmon. The menus will also feature favorites and staples such as the Smokehouse Burger, filet mignon, prime New York strip, braised short ribs, pasta plates, salads, and desserts such as carrot cake, bread pudding and flourless chocolate cake.

A grand opening was held April 8 on the heels of Zachary Arsenault’s introduction as the executive chef for both Cooley Kill and The Vista Banquet and Ballroom at Van Patten.

“I am grateful for the opportunity to lead our talented team of chefs and to provide our guests with a culinary experience to remember,” said Arsenault. “I look forward to serving all of our guests at Van Patten Golf Club.”

Van Patten Golf Club, at 924 Main St., Clifton Park, is just 20 minutes from Saratoga Springs. It Continued On Page 6

Dave Weiss 21 years

Spencer Agan 23 years

Dennis Choiniere 46 years

OVER 149 YEARS COMBINED EXPERIENCE

401(k) SOLUTIONS

FOCUSED ON WHAT MATTERS –

YOUR BUSINESS.

At NBT Wealth Management, our entire 401(k) approach is focused on one thing – your business. Our expert staff will help customize a plan that’s unique to your needs, providing you with one easy point of contact, an extensive range of services and experienced support: Plan Design Expertise

Open Architecture for Mutual Funds

Fiduciary Protection

HSA Integration

Participant Education

Single Point of Contact

Mobile App

Full Fee Disclosure

Find the best solutions for your business. Connect with one of our experts today. www.nbtbank.com/401k

YO U R G OA L S . O U R G U I DA N C E .

Since 1945 Eastern Heating and Cooling, Inc. has been serving commercial and industrial customers through Upstate New York, Western Massachusetts and Southern Vermont with designs, installation and maintenance service. When faced with difficult complex problems, experience matters

Mechanical Design Service & Maintenance Facility Automation Services Sheet Metal Fabrication Quality People. Building Solutions

easternheatingcooling.com 518-465-8878 A Division of

SARATOGA BUSINESS JOURNAL • APRIL 2022 • 3

Texas-Based Group Donates $50,000 Toward SBA Will Provide More Deferment Time For The Rehabilitation Of 65 Phila St. In Saratoga COVID Disaster Relief Loans Repayment

Commercial Services

R

LE

AS

E

Commercial Properties For Sale or Lease

433 Broadway, #201 | Saratoga Springs $25/SF + Interior Maintenance & Janitorial

Well appointed corner office suite available on the second floor of this well maintained Broadway building! 1667 SF space offers three private offices, reception/waiting room, conference room, 1/2 bath and storage closets.

Building amenities include an elevator, renovated common areas and shared ADA compliant hallway restrooms.

Public parking lot and garage available behind the building with room for 300+ vehicles. Other office options available in this same building. Call agents for more information!

Amy Sutton | 518.527.3564 |Gerard Wise | 518.265.2420

SA LE

community.

The Foundation will “remove the challenges associated with the building”— environmental remediation, structural stabilization—and complete an exterior restoration so that it can be sold to a future owner who will complete the interior and serve as a good steward of the home, the group said. Any potential proceeds raised from the sale of the property will be reinvested a future preservation project that will benefit the community.

On Feb. 16, Bosshart and project architect Matt Hurff presented an application for the extensive exterior restoration, which includes restoring the clapboard siding, windows, doors, roof, decorative details, and the porch, using the original columns and balustrades that were found inside the house, to the city’s Design Review Commission (DRC).

At the meeting, DRC chair Tamie Ehinger said, “We are all well aware of this particular structure and its history and its significance of the changes that you are proposing and I think that not only the Design Review Commission, but the entire city applauds your efforts in restoring this very important building.”

The DRC granted unanimous approval for the proposed work.

“It is exciting for the Foundation to go through the process of seeking approvals from the city. Not only does the rehabilitation at 65 Phila St. show our mission in action, but it allows us to be a better resource for historic property owners in the future by experiencing the process ourselves,” said Adam Favro, president of the Foundation.

Prior to seeking DRC approval, the Revive 65 Committee completed an evaluation of the existing conditions of the building, including an environmental assessment and a window survey.

Visit www.saratogapreservation.org or call (518) 587-5030 for more information.

FO

Courtesy Saratoga Springs Preservation Foundation

The Saratoga Springs Preservation Foundation received a $50,000 contribution from The Carruth Foundation, a Texasbased organization, to help underwrite the rehabilitation of 65 Phila St., the longneglected Alexander A. Patterson House.

The Foundation purchased the 1851 Italianate residence on May 21, 2021, to preserve the building that had been on its endangered list since its inception in 1998.

“The Carruth Foundation does not normally make donations to out-of-state projects. But, we believe the Phila Street rehabilitation is very important to maintaining the history and integrity of Saratoga Springs and all it represents,” said Zane and Brady Carruth. The Carruths, who live in Texas, started coming to Saratoga Springs because of the Saratoga Race Course. They have since purchased a historic residence in the city.

“We are most grateful for this unexpected gift that will help us achieve one of our long-term strategic goals to partake in a rehabilitation of an endangered building,” said Samantha Bosshart, Foundation executive director. “With overwhelming generosity from the Carruth Foundation, individuals, and businesses, thus far we have raised nearly $150,000 in donations and grants, which is half of our $300,000 goal.”

According to the Foundation, Alexander A. Patterson built the house at 65 Phila Street in 1851. He was an Irish immigrant whose listed professions included builder, architect, and later owner of the Patterson Mineral Spring Pavilion located at 22, 24, and 26 Phila St. The Patterson family remained in the home for 90 years. Later, the Congregation Bais Moishe Inc. in Brooklyn owned 65 Phila St. for more than 30 years, using it as a summer residence.

It is believed that at one time there was a mikveh, a Jewish ritual bath, located on the property. The house is important because of its associations with early development of the city, spring waters, and the Jewish

regular payment reminders via email.

Existing COVID EIDL Borrowers can find account balances and payment due dates in the SBA Capital Access Financial System (CAFS) and learn how to set up an account in the CAFS system by logging in at Capital Access Financial System (sba.gov).

Officials said the eferments may result in balloon payments. The deferment will not stop any established Preauthorized Debit (PAD) or recurring payments on the loan. COVIDEIDL Borrowers with an SBA established PAD must contact their SBA servicing center to stop recurring payments during the extended deferment period. COVID-EIDL After the deferment period ends, COVIDEIDL Borrowers will be required to make regular principal and interest payments beginning 30 months from the date of the note.

“This new action taken by the SBA and Administrator Guzman will give the smallest of small businesses more flexibility in recovering and returning to their pre-COVID strength. By extending the COVID EIDL deferment period, small businesses will be able to use capital obtained through sales to grow their businesses when it matters most,” said SBA Atlantic Regional Administrator Marlene Cintron, who oversees the federal agency’s operations in New York, New Jersey, Puerto Rico and the U.S. Virgin Islands.

Borrowers with questions can call SBA’s COVID EIDL Customer Service Center toll-free at 1-833-853-5638 (borrowers who are deaf, hard of hearing, or have a speech disability can dial 7-1-1 to access telecommunications relay services) or email DisasterCustomerService@sba.gov for additional assistance.

The center is open Monday through Saturday from 8 a.m. to 8 p.m. Multilingual representatives are available. Small business owners may also contact SBA’s Resource Partners by visiting www.sba.gov/localassistance. For additional information on COVID EIDL, visit www.sba.gov/relief.

FO R

A donation from the Carruth Foundation, a Texas-based organization, will help underwrite the rehabilitation of 65 Phila St. to make the building safe for future owners and remove blight.

The U.S. Small Business Administration (SBA) has been directed to provide additional deferment of principal and interest payments for existing COVID Economic Injury Disaster Loan (EIDL) program borrowers.

The extended deferment period—30 months deferment from inception on all approved COVID EIDL loans—will provide additional flexibility to small business owners impacted by the pandemic, especially those in hard-hit sectors managing disruption with recent variants, as well as recent supply chain and inflation challenges amid a growing economic recovery.

Since its inception, the COVID EIDL program, a federal disaster relief loan, has allocated more than $351 billion in relief aid to 3.9 million borrowers, including to the smallest of small businesses from historically underserved, disadvantaged communities, according to the SBA. “Though our small business owners continue to power a historic economic recovery under the Biden-Harris Administration, we must continue to do everything in our power to meet our small businesses where they are with resources to ensure they can recover and thrive,” said SBA Administrator Isabel Guzman. “This extended principal and interest deferment will provide financial relief to millions of small business owners—particularly those hardest-hit by the pandemic and related marketplace challenges – so they can continue to pivot, adapt, and grow.”

The deferment extension is effective for all COVID-EIDL Loans approved in calendar years 2020, 2021, and 2022. Loans now have a total deferment of 30 months from the date of the Note. Interest will continue to accrue on the loans during the deferment.

Borrowers may make partial or full payments during the deferment period but are not required to. The SBA recommends using www.pay.gov.

The SBA will not send monthly SBA Form 1201 payment notices, however it will send

33 Sacandaga Road | Scotia $150,000

Convenient and visible location in the village of Scotia! This single story building offers 2,404 SF and would be perfect for a variety of retail, office, professional services or fitness center users. Space features an open floor plan, private office, 1/2 bath and break room with sink and storage cabinets.

Also includes, gas hot air heat, central air, public water and sewer. Lot is 0.11 acres with paved parking for approximately 5 vehicles. Call Joe and set up an appointment today!

Joe Palma | 518.207.6146 | jpalma@roohanrealty.com

4 • SARATOGA BUSINESS JOURNAL • APRIL 2022

NEXT ISSUE

SPECIAL SECTION

Construction Education / Training / Personal Development Health / Community Services Publication Date: May 5, 2022

Healthcare Financial Planning / Investments Building Trades

Publication Date: June 9, 2022 Call Today To Reserve Space

(518) 581-0600 Fax: (518) 430-3020

SARATOGA BUSINESS JOURNAL

‘Saratoga WIB Spectacular’ Horse Show To Celebrate Women, Benefit Women’s Causes Southbound Saratoga Management Group, LLC will present this summer the Saratoga WIB (Women In Business) Spectacular, a horse show created by women, operated by women, benefitting women’s causes and showcasing women in business.

The event will be held July 13-17 at White Hollow Farm, 28 Brickhouse Road in Stillwater and is open to all competitors in the equestrian community, spectators and vendors.

“Exhibitors and attendees will be offered multiple opportunities throughout the show and beyond to meet, interact, listen, and learn from many remarkable women, in all types of business, willing to share their story and career paths,” said Adele Einhorn, organizer of the event. “Additionally, there will be educational opportunities to learn from women professionals at the show.

“This event is something that has never been done before. The equestrian community is dominated by women yet operated by men. We intend to break the mold by having women fulfill all positions for the show while showcasing women in business in the equine world and beyond, and women that ride and have full-time careers.”

Proceeds from the event will fund organizations that support women’s health and emphasis will be made to reach young people and minorities who might not otherwise have exposure to the many career opportunities related to the horse business.

“As former mayor of Saratoga Springs, I am thrilled to be a part of the Saratoga Women in Business Spectacular Horse Show,” said Joanne Yepsen of Yepsen & Pikulski who is working to promote the event and recruit participants and sponsors. “The event is not only a venue to showcase the hundreds of women in business, but also spread awareness for the opportunities that exist for women and youth to work in and

own businesses that serve the equine and the agriculture industries in New York state. We are proud to produce this event in Saratoga County while providing significant economic benefits to our local region.”

Organizers say the Saratoga Horse Show’s newest event will increase its visibility and provide participants, sponsors and the community with an ever-growing positive financial driver.

Sponsors of the show have access to an important, growing, and lucrative population of customers and supporters. Einhorn said The target market of consumers tends to be diverse in age and has above average disposable income.

Sponsorships can be individually customized to meet each supporters needs. There are numerous sponsorship, advertising and marketing opportunities to promote products, businesses and industries.

For more information, please contact Yepsen at joanne@yepsenandpikulski.com or 518-526-5272; or Pikulski at diana@yepsenandpikulski.com or 802-233-5377.

The event website is www.saratogahorseshows. com.

Located on over 100 acres, just eight miles from downtown Saratoga Springs, White Hollow Farm features eight large arenas with state-of-the-art drainage and all-weather performance footing, permanent and tented stabling, and multiplesized turnout paddocks perfectly suited for social distancing. White Hollow Farm also offers seasonal boarding, layover stabling, turnout and camper parking.

In 2020, the Southbound Saratoga Management Group took over all operations at White Hollow Farm and has hosted seven weeks of recognized United States Equestrian Federation Hunter Jumper competitions, recreated to account for COVID-19 precautions.

Finnigan's On The Lake Continued From Page 1

and made our visions come true. I don’t even know how many linear feet of barn board we put in here, but my wife and my project manager milled and stained the barn board themselves.”

Because they wanted to host live music on Friday nights and Sunday afternoons, they had to address the acoustics in the room. In doing so, they replaced the ceiling with a product that looks like tin but is actually noise-absorbing foam.

From the moment Finnigan’s on the Lake opened its doors, business has been booming, Finnigan said.

“It’s at the point where we can’t even accept reservations because we don’t want to turn people away who are coming through the door.

They are coming through the door non-stop,” said Finnigan. “We’ve been very lucky. We’re even busier than we were at Carney’s.”

The menu includes a wide variety of IrishAmerican fare as well as Italian dishes, pub food, pizza, sandwiches and burgers.

“It’s high-quality food, and there’s something for everybody,” said Finnigan who oversees the kitchen.

The drink menu features standard and signature cocktails, wine, and bottled and draft beer. The Finnigans invested in a state-of-the-art draft beer system to dispense the 12 draft beers.

The restaurant has a staff of approximately 25 employees, and that number will increase after the patio is opened at the beginning of May, said Finnigan. They also plan to renovate an upstairs event room that can hold upward of 60 people.

They hope to have it up and running in time to host holiday parties.

For more information, visit www. finnigansonthelake.com

SARATOGA BUSINESS JOURNAL • APRIL 2022 • 5

Restaurateurs Can Meet With Local Food Bureau Of Labor Statistics: Hiring Was Up In Producers At ‘Taste NY’ Event On April 28 March; Hospitality Sector, Others Saw Gains

The Taste NY business-to-business expo event is intended to help farmers and agricultural producers in the Adirondack region and New York state.

Local restaurants, wholesalers, and other businesses looking to connect with local food and beverage producers will have a chance to meet face-to-face at the Taste NY Producer Showcase this month.

The Lake George Regional Chamber of Commerce and Taste NY will present the showcase on Thursday, April 28, at SUNY Adirondack. It will take place in the Northwest Bay Conference Center at Adirondack Hall, 640 Bay Road in Queensbury.

This business-to-business expo event is intended to help farmers and agricultural producers in the Adirondack region and New York State grow their businesses and encourage hotels, restaurants, bars, retail locations, and institutions to purchase local products. In addition to the expo, businesses can also take part in educational workshops and a networking breakfast.

This showcase will be the third businessto-business food show organized by the Lake George Regional Chamber of Commerce. The Adirondack Region Food and Farms Business Expo was held at SUNY Adirondack in December 2019 followed by a first-of-its- kind Virtual Taste NY Producer Showcase in October 2020 which featured 60 producers in a fast-pitch virtual environment.

The virtual format was a modification made to the event in response to the challenges presented by the COVID-19 pandemic.

“We are pleased to return to the in-person format this spring with a showcase that offers 50 New York State producers an opportunity to connect with potential wholesale buyers and attendees from the Adirondack region,” said Gina Mintzer, Chamber executive director.

New exhibitors this year include: • Caliva Cookie Co., Italian-style biscotti (Ballston Lake); ImmuneSchein, handcrafted ginger elixirs based on German herbal traditions (Ulster); Perfeito, Brazilian spice blends (Auburn); and 2 Queens, Certified LGBTBE honey and roasted coffee (Narrowsburg).

Ashtin Givens

Courtesy Taste NY

Some returning exhibitors include Springbrook Hollow Farm Distillery, Fodor’s top 10 distilleries in New York (Queensbury); and Meadowdale Farm Winery, award winning winery located at Black Creek Farm (Altamont).

Admission is free. Booth space for producers is $25 and includes a breakfast networking event and two morning workshops to help producers expand their reach in the marketplace.

For more information and to register, contact the Chamber at 518-487-0045 or visit www. lakegeorgechamber.com/tasteny.

There will be representatives from Taste NY and the Lake George Regional Chamber of Commerce at the networking breakfast 8a-11a.

A morning workshop 9-10 a.m. is called “What’s Unique about Your Farm and How to Sell it to Wholesalers,” with Kim London of SUNY Adirondack. It will cover how to identify and use a farm’s “unique selling proposition” to reach customers and develop a brand; how to succinctly pitch a farm’s unique characteristics to a range of customers including wholesalers; how to use the pitch; and how to foster a better understanding of the best practices associated with building and maintaining relationships with wholesale buyers.

A morning session 10-11 a.m. is a packaging audit workshop with Maureen Ballatori , founder and CEO of 29 Design Studio, and Tom Seymour, business development specialist at Bison Bag. People can bring their existing packaging or packaging examples they are considering and engage in a working session to discuss design, packaging engineering, and sustainable packaging design.

The vendor expo will run from noon to 4 p.m.

Officials said the Taste NY initiative has seen steady growth and recognition since it was created in 2013. The program, which is overseen by the Department of Agriculture and Markets, creates opportunities for local producers to showcase their goods at a variety of venues throughout the state and at large public events, such as the Great New York State Fair and the Barclays Tournament at Bethpage State Park.

518.894.2638

Call today and speak directly with me!

No 800 number and no call centers.

COPIERS | OFFICE SUPPLIES | JANITORIAL

proudly serving local since 1981

Total nonfarm payroll employment rose by 431,000 in March, and the unemployment rate declined to 3.6 percent, the U.S. Bureau of Labor Statistics reported on April 1.

According to the report, notable job gains continued in leisure and hospitality, professional and business services, retail trade, and manufacturing.

The Bureau said the unemployment rate declined by 0.2 percentage point to 3.6 percent in March, and the number of unemployed persons decreased by 318,000 to 6.0 million.

Among the major worker groups, the unemployment rate for adult women (3.3 percent) declined in March.

Among the unemployed, the number of permanent job losers decreased by 191,000 to 1.4 million in March and is little different from its February 2020 level of 1.3 million, the report said.

The number of persons on temporary layoff was little changed over the month at 787,000 and has essentially returned to its February 2020 level. The number of job leavers—unemployed persons who quit or voluntarily left their previous job and began looking for new employment— fell by 176,000 to 787,000 in March.

In March, the number of long-term unemployed (those jobless for 27 weeks or more) decreased by 274,000 to 1.4 million. This measure is 307,000 higher than in February 2020. The long-term unemployed accounted for 23.9 percent of all unemployed persons in March, the Bureau said.

The labor force participation rate, at 62.4 percent, changed little in March, the Bureau said.

The number of persons employed part time for economic reasons was about unchanged at 4.2 million in March and is little different from its February 2020 level. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find fulltime jobs.

The number of persons not in the labor force who currently want a job increased by 382,000

to 5.7 million in March, following a decrease of a similar magnitude in the prior month. This measure is above its February 2020 level of 5.0 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job.

In March, 10 percent of employed persons teleworked because of the coronavirus pandemic, down from 13 percent in the prior month. These data refer to employed persons who teleworked or worked at home for pay at some point in the four weeks preceding the survey specifically because of the pandemic.

In March, 2.5 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic—they did not work at all or worked fewer hours at some point in the four weeks preceding the survey due to the pandemic.

This measure is down from 4.2 million in the previous month. Among those who reported in March that they were unable to work because of pandemic-related closures or lost business, 15.4 percent received at least some pay from their employer for the hours not worked, down from 20.3 percent in February.

Employment in leisure and hospitality— prominent in the Saratoga and lake George regions—continued to increase, with a gain of 112,000 in March. Job growth occurred in food services and drinking places (+61,000) and accommodation (+25,000). Employment in leisure and hospitality is down by 1.5 million, or 8.7 percent, since February 2020.

Job growth continued in professional and business services, which added 102,000 jobs in March. Within the industry, job gains occurred in services to buildings and dwellings (+22,000), accounting and bookkeeping services (+18,000), management and technical consulting services (+15,000), computer systems design and related services (+12,000), and scientific research and development services (+5,000). Employment in professional and business services is 723,000 higher than in February 2020.

6 • SARATOGA BUSINESS JOURNAL • APRIL 2022

Study: Most New Yorkers Feel Ukraine War Will Lead To Long-Term Economic Problems

NEED MORE JOB APPLICANTS? DIGITAL MARKETING REACHES MORE PEOPLE FOR LESS MONEY CONTACT US TO FIND OUT HOW WE CAN HELP YOU FILL YOUR JOB OPENINGS Book a Call or Meeting with Valleri.

Contact Valleri James 518-935-3209

Valleri@MannixMarketing.com

Mannnix Ad for SS SBJ & GFBJ.indd 1

12/15/20 2:32 PM

SARATOGA BUSINESS JOURNAL 2002 Business Of The Year

The Chamber of Southern Saratoga County P.O. Box 766 • Saratoga Springs, New York 12866 (518) 581-0600 • Fax: (518) 430-3020 • www.saratogabusinessjournal.com Editorial: RJDeLuke@saratogabusinessjournal.com Advertising: HarryW@saratogabusinessjournal.com Publisher & Editor Harry Weinhagen Associate Editor R.J. DeLuke Editor Emeritus Rod Bacon Sales and Customer Service Harry Weinhagen Production Manager Graphic Precision Photographer Stock Studios Photography Contributing Writers Susan Campbell Jill Nagy Jennifer Farnsworth Christine Graf Andrea Palmer Paul Post Saratoga Business Journal is published monthly, the second week of each month, by Weinhagen Associates, LLC and mailed to business and professional people in Saratoga county.

Saratoga Business Journal is independently owned and is a registered tradename of Weinhagen Associates, LLC, P.O. Box 766, Saratoga Springs, New York 12866 (518) 581-0600. Saratoga Business Journal is a registered tradename in New York.

Saratoga Business Journal has been founded to promote business in Saratoga county and to provide a forum that will increase the awareness of issues and activities that are of interest to the business community. Subscription price is $25.00 per year. Third class postage paid at Glens Falls, New York.

Rights to editorial content and layouts of advertising placed with Saratoga Business Journal which are the creative effort of its contractors, and printing materials supplied by Saratoga Business Journal are the property of Saratoga Business Journal and may not be reproduced by photographic or similar methods, or otherwise, without the specific authorization of Saratoga Business Journal.

Some 54 percent of New Yorkers say the war in Ukraine and the international response to it will lead to long-term economic problems resulting in financial difficulties that all Americans will face for years, according to a new statewide survey of consumers by the Siena College Research Institute (SCRI).

Thirty-two percent are more inclined to say that the war will soon end and despite significant short-term economic impacts, the American economy as well as the personal finances of Americans will be largely unaffected, the survey indicated.

Seventy percent say that inflation is having either a very (26 percent) or somewhat (44 percent) serious negative effect on their personal finances.

The survey said in light of current economic conditions and the war in Ukraine, 87 percent are concerned about food prices, 80 percent are concerned with the cost of gasoline, 76 percent with home utility costs, 71 percent with the worth of the American dollar and 68 percent with the value of their retirement accounts.

In response to price increases due to inflation, 69 percent will buy less in general, 67 percent will buy less expensive items and 28 percent plan to dip into savings to pay for everyday expenses. Over a third, 35 percent plan to get a second job or generate another source of income while 34 percent now say that they will postpone or cancel a vacation in the next six months.

“Inflation had gotten New Yorkers’ attention, but now add in war in Ukraine and consumers are very concerned, and many are planning to cut back,” said SCRI director Don Levy. “While a third think the war will soon be over and that our finances will not be largely affected, over half believe the war in Ukraine will generate economic shock waves that New Yorkers will face for years to come.”

“Gas, food and utilities costs are a concern for between 76-87 percent of all New Yorkers,” Levy said. “And with inflation soaring, about 70 percent worry about the American dollar’s worth and the value of their retirement accounts. With the pandemic’s effects lessening, New Yorkers were ready to exhale, but economic conditions and war in Eastern Europe have us holding our breath again.

“Food prices and gasoline, now worry at least eight out of every ten New Yorkers and with 70 percent saying inflation is negatively affecting their finances and 71 percent concerned about the worth of the dollar, those kitchen table discussions are not for the faint of heart.”

Asked what strategies they are now using or plan to use in the next six months in response to price increases due to inflation, 69 percent of responders said are buying less in general, 67 percent are buying less expensive items, 28 percent are dipping into savings, and 22 percent are using credit cards and carrying the debt forward. Ten percent say that they are continuing to live and spend as before.

Thirty-five percent of all New Yorkers, 50 percent of those 18-34 years of age, 46-50 percent of Blacks and Latinos and 42 percent of those with children in their household will get a second job or generate another source of income in response to inflation.

One quarter will stop or reduce savings contributions and 34 percent will postpone or cancel a vacation.

“We will have to wait and see how the economy reacts this spring and summer and what the impact of war in Ukraine will be, but for now, New Yorkers weary from two years of COVID, are expressing economic concerns that will pre-occupy their decisions and perhaps slow economic activity in New York,” Levy said.

Chowder Fest

DePaula Auto Group, Westminster Bakers, Stewart’s Shops, Clipper Magazine, Renewal by Andersen, Julie & Co. Realty, Saratoga Today, The Daily Gazette, Death Wish Coffee Co., Lia Nissan of Saratoga, The Post Star, The Dark Horse Mercantile, Impressions of Saratoga, Junda Video Enterprises, The Magic Moon, Adirondack Trust Co., Live Nation, The Gideon Putnam, Roosevelt Baths and Spa, On The Spot Photos, and Shurable.com.

Continued From Page 1 possible by our sponsors: Saranac, White Claw, Driscoll Foods, D.A. Collins, Saratoga Springs City Center, 107.7 GNA, Q 105.7 Classic Rock, PYX 106, Kiss 102.3, Fly 92.3, B 95.5, Star Radio 93.3, Saratoga.com, The Saratogian, T-Shit Graphics, Black Dog Advertising,

Cooley Kill Restaurant & Bar Continued From Page 4

has 27 holes ranging in all levels of difficulty.

Though built in 1968, Van Patten reconfigured the course in 2004 after the building of a 15,000-square-foot clubhouse and banquet hall, The Vista. The clubhouse offers multiple event rooms and a scenic terrace for banquets and events.

The business is owned by Lance Orcutt and Roland Mann, who bought the course in 2021

from the Van Patten family. At that time they worked with Environmental Design Partnership of Clifton Park to put together a master plan for the property. They are also worked with Michael Phinney of Phinney Architectural Design in Saratoga Springs and award-winning golf course architect Steven Kay. For more information about Van Patten Golf Club, visit vanpattengolf.com.

SARATOGA BUSINESS JOURNAL • APRIL 2022 • 7

Great Escape Anticipates Strong Season, Opens NYS Liquor Authority Accepting Permits For In May With COVID Protocols Discontinued Craft Brewers To Sell While License Pending

Crews prepare for the opening of Great Escape, a key to the tourism sector that accounts for up to 40 percent of Warren County’s total economic output, according to EDC Warren County.

BY PAUL POST Great Escape is gearing up for a new season of family-oriented fun as it returns to normal with COVID-19 restrictions hopefully a thing of the past.

The Six Flags-owned theme park never opened in 2020 and guests last year had to comply with numerous protocols such as mandatory face coverings, temperature screenings, social distancing and making online reservations prior to visiting.

All these have been eliminated, although one practice—a cashless payment system—has been adopted permanently. All purchases including entry tickets, concessions and souvenirs must be made with credit or debit cards, or some type of mobile phone platform.

For those who don’t have or forget to bring these, Great Escape has installed cash-tocard kiosks where people can turn cash into a prepaid VISA debit card. The cards can be used anywhere, just like a regular debit card, so people can spend what remains if there’s money left over after visiting the park.

“It gives people a third option if they don’t have a phone, or credit or debt card,” said Jason Lee, public relations and marketing supervisor.

Plans call for a May 21 opening.

Great Escape is one of the biggest engines in a tourism sector that accounts for up to 40 percent of Warren County’s total economic output, said Jim Siplon, EDC Warren County president.

“They’re one of the driving forces,” he said.

An estimated one million people visited Great Escape and its adjacent year-round Great Escape Lodge & Indoor Waterpark in 2019.

“That means those visitors, whether to the park and-or the Lodge also enjoyed other aspects of the region such as shopping, dining, things to do both indoors and out,” said Gina Mintzer, Lake George Regional Chamber of Commerce executive director. “All of these add up to significant economic impact when you put a dollar figure to each person’s spending.”

Lake George area visitors spend about $140 per day for food and beverage, recreation, retail shopping and transportation. If that same person spends the night, the average is approximately $285, based on destinations international economic impact calculations for Warren County as well as the Tourism

Paul Post

Economics Annual Report on the Adirondacks tourism spending, Mintzer said.

“This information is strictly for Great Escape’s year-round visitors,” she said. “When their payroll, property tax and other aspects of the costs of doing business are factored in, their contributions to our community’s economic vitality are exponential. This year, they have spent considerable amounts of time and money upgrading the Lodge as well as other aspects of their property.”

The theme park and Lodge & Indoor Waterpark employ up to 1,500 people at peak times. The firm recently filled hundreds of summer positions such as lifeguards, food and beverage staff, and ride operators during a pair of late-March job fairs.

“But we’re always hiring, quite literally,” Lee said. Walk-in applicants are welcome to visit the human resources building at 33 Round Pond Road, Queensbury, or people may apply online at www.sixflagsjobs.com.

For some positions, such as security and lifeguards, Great Escape pays for required training and licensing. Employees are also given in-park discounts, free tickets and are treated to special gatherings, when they get to be a theme park guest for a day.

Great Escape provides housing for international students, which comprise about 10-12 percent of the summer workforce.

Two special events are planned for 2022, a July Fourth Fest (July 2-4) with rides lit up and fireworks each night, and the annual Fright Fest, held each weekend in October beginning Saturday, Oct. 1.

Last year, Great Escape made a major addition to its long list of thrill rides with installation of the 16-story-high Adirondack Outlaw that whips guests through the air at 55 mph, up to 165 feet high, while making 360-degree rotations similar to a giant wind turbine. It’s located near the Steamin’ Demon coaster, easily visible from the park’s Route 9 front entrance.

Great Escape is one of 27 Six Flags theme parks in the U.S., Mexico and Canada. The upcoming season will be crucial as Six Flags, like all theme parks, seeks to rebound from a pandemic that caused attendance numbers industry-wide to plummet.

The State Liquor Authority is accepting applications for new permits to allow craft beverage manufacturing businesses the ability to manufacture and sell alcoholic beverages while their liquor license is pending.

The new permits can generally be processed and approved in less than 30 days, compared to applications for new licenses that currently take an average of six months, expediting the time it takes to open new craft beverage manufacturing businesses throughout the state, officials said.

The permits allow businesses to manufacture and sell alcoholic beverages for a period of six months, or until the full application is approved, for a fee of just $125.

The new permits may be extended for a threemonth period for an additional $50 fee if necessary.

“New York’s craft beverage industry is not only a source of local pride, but also creates jobs and drives tourism in every corner of the state,” Governor Kathy Hochul said. “These fast-tracked permits will allow new businesses to hit the ground running by opening quickly and making immediate contributions to their local economies. This is another step in furthering our administration’s efforts to cut red tape, ease regulations, and make commonsense reforms to help these businesses grow and thrive.”

Legislation signed by Hochul in December created new temporary permits for breweries, wineries, distilleries, cideries and meaderies, allowing them to open while awaiting the final approval, preventing accrued costs in rent and maintenance after the location and equipment have been acquired. There are currently 81 permit applications pending for craft manufacturers statewide, officials said.

State Liquor Authority Chairman Vincent Bradley said getting craft producers open quickly is important for both the individual businesses and for our state’s entire economy.

“When our craft manufactures grow and thrive, they create jobs, put money back into their local economies and set the stage for future growth. New York has been a leader

in the craft beverage industry, and these fasttracked permits will no doubt help ensure this trend continues,” he said.

State Sen. Michelle Hinchey said the fasttracked temporary permits “is a major turning point for craft beverage producers across our state, and I’m proud to have authored the legislation to help these small businesses bring their exceptional products from farm to glass sooner. As a strong tourism driver and local job creator, New York’s burgeoning craft beverage industry represents an exciting growth sector for upstate economies, and it’s one that I’ve been thrilled to elevate as Senate Agriculture Chair.”

New York State Brewers Association President Paul Leone said the state craft brewing industry continues to grow, even through COVID. “With wait times lasting up to six months, many brewery owners were paying rent on buildings they couldn’t open, making monthly payments on new brewing equipment they couldn’t use, and not making any money to pay themselves or their employees while they were waiting for their permits,” he said. “This temporary permit will allow breweries who are currently waiting on their permits to open sooner, and for those considering opening their own brewery, an avenue to open quicker.”

Officials said New York state’s craft beverage industry accounted for over $5 billion in revenue in 2018, growing by 230 percent over the last decade. Despite the economic downturn, the number of craft beverage manufacturing licenses issued by the SLA grew by over 9 percent in the last year, from 1,426 active licenses to 1,559.

Additionally, in the last year twenty-eight farm-based manufacturers have extended their footprints by opening new, no-fee, offsite retail locations across the state in the last year alone, a 17 percent increase over 2021.

These branch stores, which now number 198 statewide, allow farm manufacturers to sell their own products, in addition to any other state labeled product by the glass or by the bottle to consumers at an offsite location.

©2022 Saratoga Photographer.com

Louise Eddy Owner Saratoga Quality Hardware Reads

SARATOGA BUSINESS JOURNAL

8 • SARATOGA BUSINESS JOURNAL • APRIL 2022

SARATOGA BUSINESS JOURNAL

SPECIAL SECTION

Home / Real Estate

Miranda Real Estate Group Opens Office On Longtime Real Estate Agent Anne Cabral Saratoga Lake, Its Third In Capital Region Opens Her Own ‘Glorious Day’ Company

BY CHRISTINE GRAF Miranda Real Estate Group Inc. recently opened its third Capital Region office at 1412 Route 9P on Saratoga Lake in Saratoga Springs. In addition to its corporate office in Clifton Park, the company has a satellite office in Rotterdam.

Owner Willie Miranda, a real estate broker with 29 years of industry experience, is also the owner of Miranda Insurance Agency, an Allstate Insurance franchise in Clifton Park.

When the Schenectady native and Clifton Park resident opened his real estate company 20 years ago, his staff included four agents.

“Little by little we went from a small team to a big team. In 2009, we were the number one team in the Capital District, and in 2011 I decided to be more of a broker—helping other agents build their business within our business,” he said. “We’re currently at about 89 agents.”

Because the company does a considerable amount of business in Saratoga, opening an office on Saratoga Lake made good business sense.

“There was an opportunity that came up that we thought would be good for our business,” said Miranda. “There are no other real estate brokerages that have an office on Saratoga Lake.”

Miranda Real Estate Group handles both residential and commercial properties. The company’s residential agents have been especially busy over the past several years.

“It’s been an unprecedented market, but now we are starting to see the market start to normalize back to pre-COVID,” said Miranda.

“Inventory is very light, but interest rates are starting to go up which will start to hopefully increase the amount of inventory that is out there. But I do think that in the Capital District we will continue to see the median sales price increase due to the lack of inventory and the amount of demand we have. We have a lot of buyers who want to purchase homes.”

Multiple offers continue to be the norm for residential properties, and Miranda said allcash offers have become more prevalent.

“We are seeing more cash because lot of people did pretty well in the stock market and with their investments over the past couple of years, and they are starting to use some of

Miranda Real Estate Group Inc. recently opened this new office on Saratoga Lake. ©2022 Saratoga Photographer.com

that money. We’re also seeing people selling other investment properties and doing 1031 exchange into the bigger properties.”

It is also becoming more common for local residential properties to be purchased by investors from New York City and beyond.

Many are paying all cash for properties they convert to rentals.

“Rents have jumped up significantly since COVID,” said Miranda. “A lot of people can now work from home and want to rent homes.

Investors know that, so they are buying up homes and renting them out for above average rents.”

According to Miranda, investors who pay all cash are pushing many buyers out of the market.

“If you have an FHA or a VA loan—or even a conventional loan—you can’t compete against cash. Sellers don’t want to have to deal with a bank or a bank appraisal. It’s easier for them to take a cash offer and have a quick closing.”

Although Miranda has no immediate plans to expand further within the Capital Region, his company will be opening an office in Naples, Fla., later this year.

Miranda Real Estate will celebrate the grand opening of its Saratoga Lake office on May 11.

For more information, visit www. mirandarealestategroup.com

BY CHRISTINE GRAF After seven years of working as a commercial Realtor at Berkshire Hathaway, real estate broker Anne Cabral made the decision to venture out on her own.

At the end of 2020, she established Glorious Day Real Estate, a commercial and residential real estate company with an office in Ballston Lake. Cabral recently relocated her office to a newly-renovated 2,500-square-foot space at 763 Saratoga Road in Burnt Hills. She is leasing the property with the option to buy.

While at Berkshire Hathaway, Cabral earned her broker’s license and gained experience as an associate broker. It was during the early days of the pandemic that she began to seriously consider the possibility of opening her own real estate company. At the time, the commercial real estate market was at a standstill.

“It gave me a lot of time to think,” she said. “It was one of those things where I knew that if I was going to go out on my own that now was the time to do it. I had thought about it for a while but had just never really had the time. Starting a new business takes a lot of work.”

While working on her business plan, Cabral reflected on her career as a real estate agent. She thought about the things she liked as well as those that she didn’t.

“One of the things that I really don’t like about the real estate industry is that brokers can take listings. Agents are in competition with their broker, and I felt that if I were a broker to agents that I would like the agents to be my clients. I would like to be available to help educate, inspire, and support them with their clients,” she said.

It was for that reason that Cabral made the decision to forgo taking on clients of her own. Although she is sometimes asked to co-list a property with one of her agents, she does not share in the agent’s commission.

“I am not in competition with my agents,” she said. “One of my taglines is ‘Real Estate Redefined,” and I chose that because I decided to do a lot of things differently than the traditional real estate company. My agents get a lot of perks that they wouldn’t get elsewhere.”

For example, Cabral pays for their error and omissions insurance as well as their business cards. Unlike many realtors, she does not charge desk fees to her agents.

“Little things like that really add up,” she said.

According to Cabral, Glorious Day

Anne Cabral, right, owner of Glorious Day Real Estate, with Emmali Cabral.

Real Estate is committed to providing “unparalleled hospitality” to its customers.

“We offer them guidance, education, and preparation and try to make the transaction as effortless as possible. We value quality, service, and satisfaction, and we like to say that we believe a glorious day is one when you do something kind for someone else.”

Cabral currently has two agents on staff but is actively seeking to hire additional agents. She provides commercial real estate training to those who have residential experience only.

“I have clients that are commercial, and I am working in tandem with my agents and teaching the agents the commercial side. I would love to have some commercial agents on board, but if we don’t get any who are commercial-trained, I will provide the training for that,” she said. “What that means is that they will receive the training and the commission.”

Cabral’s staff includes her daughter, Emmali, who serves as business director. Her oldest son, Zac, helped create the company’s business plan and plans to join the Glorious Day team after he graduates from college in the spring with a degree in accounting.

In recent months, Cabral said the local commercial real estate market has rebounded and is now showing signs of growth. As for the residential market, demand continues to exceed supply. Bidding wars remain commonplace, and many clients make offers on multiple homes before securing a property.

For more information, visit www. gloriousdayrealestate.com

SARATOGA BUSINESS JOURNAL • APRIL 2022 • 9

Local Builder Says Supply Shortages Still Severely Hurting The Building Of New Homes •

This is a modular chalet built recently in Bolton Landing by Saratoga Modular Homes. Developer Cecil Provost says supply shortages are a problem in the construction industry.

BY CHRISTINE GRAF As demand for new homes surges throughout the country, supply shortages and price increases continue to plague the construction industry. According to the National Association of Homebuilders (NAHB), more than 90 percent of builders experienced materials shortages and delays in 2021.

Builders were encouraged when lumber prices began to fall after a record high in May of 2021, but prices began to climb again in December. The average cost of lumber is now about three times more than it was before the pandemic, industry officials say.

Economists predicted that supply chain shortages and material costs would begin to ease, but that was before Russia invaded Ukraine. Experts say the war in Ukraine will disrupt supply chains and further exacerbate shortages and price increases. The increase in oil and gas prices that have resulted from Russian sanctions will also impact production and transportation costs.

According to Cecil Provost, owner of Saratoga Construction and Saratoga Modular Homes, increased material costs have caused the average home price to skyrocket.

His companies build custom “stick-built” homes as well as custom modular homes. Stickbuilt homes are constructed on the job site, whereas modular homes are built in sections at a factory.

“Our specialty is building custom homes with modular construction. We are typically doing porches, and garages, and decks, and higher end finishes. What’s unusual about us is that we design every home from scratch for the customer. We can customize it right down to the bathroom faucets. We are the only builder that I know of in this region and one of the few in the northeast that do what we do.”

In the past 12 months, Provost said new home prices have increased more than 20 percent. Over the course of the last two years, they have increased as much as 35 percent.

“It’s significant, and the lead times are just brutal,” he said.

Modular home lead times have increased from eight to 10 weeks to five months or more.

Some modular home factories are already totally booked for the entire year.

“A big advantage of the modular home construction is that once I order the home, that price is locked in,” said Provost. “Whereas if I get a price quote on a house worth of lumber, the quote is only good until 5:00, and it might be different tomorrow. There’s so much volatility out there right now.”

Building material lead times vary significantly by product. For example, Provost said the lead time on Andersen Windows has increased from three weeks to between 12 and 39 weeks. Garage doors have a lead time of four to five months, and kitchen cabinets have a lead time of up to six months.

“Some things are starting to ease up a little,” he said. “Last summer and fall, there was a real difficulty getting any premium colors of vinyl siding. A lot of the darker colors that are popular were temporarily discontinued. That’s starting to ease up, but there are still challenges out there, and it sounds like we have another year of this in front of us.”

The material shortage has resulted from multiple factors that extend beyond the pandemic shutdown that took place at the beginning of the pandemic.

“A lot of the products or raw materials needed to make the products come from overseas. And even if they are local, there is an enormous shortage of truckers to make deliveries,” said Provost. “The resin shortage originated from the ice storms in Texas a year ago. They shut down some of their refineries, and that caused a huge shortage of resin for vinyl siding and anything that had plastic in it.

There are still trickle-down effects from that.”

Because of the long lead times and unpredictable product availability, estimating project completion dates has proved to be very difficult.

For the consumer, the cost of building a new home continues to rise. Surprisingly, the dramatic price increases have not impacted demand.

Provost said he is turning away potential buyers almost every day.

“Our demand is completely off the charts in the last 12 months, and I don’t see any end in sight,” he said. “A lot of that has to do with the strength of the economy in the Capital District.

Industry wide, there is such a shortage of new construction and there has been for years. And now there is a shortage of labor as well. Finding labor is an enormous challenge.”

Before COVID, his company was building between 16 to 18 homes a year. Demand has increased dramatically, fueled in part by high demand for vacation and lake front homes.

“I could probably sell 50 this year, but I don’t think we are prepared to make that big of a jump,” said Provost. “We will probably build 30 this year, and we’re turning away millions of dollars a month. We have a waiting list into the middle of next year, and we’ve turned away more jobs than we’ve taken. It’s just crazy.”

Business Report How Wide Is Your Perspective?

BY STEVEN LUTTMAN Few things warm my heart more than a trip to the Lake George outlets.

Some might say cheap, others prefer “financially thoughtful,” but no matter what you call it I like finding a good deal. No doubt many of you feel the same way. Think for a moment about a purchase you’ve been considering recently.

If this item were to become available for 79 percent less than its historical price how excited would that make you? That’s an amazing value.

People line up hours in advance for Black Friday deals less great than this. But before you take out your wallet, what if at this exact same time last month the item could be had for 85 percent off. Given that the discount has shrunk, is it still attractive today? Of course, it’s a no brainer.

Freddie Mac’s weekly lender survey found the average 30 year fixed rate mortgage closed out the month of March at 4.67 percent, a sizable jump from the sub 3 percent we were seeing as recently as November.

For anyone that’s been eyeing a home purchase or refinance it’s easy to think “I’ve dropped the ball here, rates are just way too high now”. With a short term perspective you wouldn’t be wrong.

However if you were to line up the average rate for every single week over the past 50 years, rates are lower today than they’ve been for almost 80 percent of those data points since 1971.

The rise in borrowing costs we’ve seen in 2022 can be attributed primarily to the Federal Reserve, who in an effort to combat inflation recently announced their first increase to the target Fed Funds rate since 2018. While Chairman Powell can influence short term yields via monetary policy, longer dated maturities are dictated more so by the buying and selling of Treasuries done by investors. It’s the latter that drives mortgage rates.

Advisory firm MCT stated the historical spread between the 10-year Treasury yield and the national average 30-year fixed rate mortgage is a touch under 2 percent. Contrast that with the roughly 2.25 percent gap today and one could make the argument this year’s run up in home loan rates is a bit over heated.

While mortgage rates often get the headlines, the true culprit of decreasing affordability is the lack of housing supply. A healthy real estate market is generally defined as having six months of available inventory, meaning if not a single additional home were listed for sale it would take six months for buyers to absorb the current stock.

According to GCAR we currently sit at 1.3

•

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

Courtesy Steven Luttman

months, an all-time low for the Capital Region.

This unfortunately will not be a quick fix, and will require a collaborative effort between the private and public sector. Items most needing to be addressed are restrictive zoning policies by municipalities as well as a lack of skilled laborers among others.

Home builders took a sizable hit during the great recession, many going out of business or choosing to pursue other career paths. The consequence today is that new home starts (newly built homes) will end the year somewhere near levels of the mid 1990s, a time when our country had 75 million less citizens.

Some good news is that all of this is happening during a time when wages are increasing at a pace not seen in many employees’ lifetimes. 2021 saw average salaries rise 4.5 percent according to the Bureau of Labor Statistics, and experts anticipate a similar albeit slightly less bump this year. Rising pay for many households should offset much of the pain simultaneous increases in cost and borrowing expenses associated with buying a home has created.

Did you miss the bottom? Almost certainly yes.

It’s hard to envision an environment conducive to that sizable of a retreat. However, let’s not be in the business of trying to time financial markets.

That’s for day traders and that sounds exhausting.

But just like me loading up on cardigans at an end of season sale, we want to recognize value when presented with it. Borrowing costs in 2022 are still a good deal.

More To Read . . . More Leads For You. (518) 581-0600

SARATOGA BUSINESS JOURNAL

10 • SARATOGA BUSINESS JOURNAL • APRIL 2022

SARATOGA BUSINESS JOURNAL

SPECIAL SECTION

Insurance / Medical Services Woman Who Adopted Holistic Lifestyle Manuel Astruc, M.D., Uses Little-Known To Combat Paralysis Is Yoga Studio Owner Technology To Treat People For Depression

BY CHRISTINE GRAF Saratoga Springs native Samantha Lyman is the new owner of Yana Yoga located in the Malta Commons Business Park at 100 Saratoga Village Boulevard in Malta.

She purchased the business from Amber LaPointe who continues to teach classes at the yoga studio.

Lyman has been practicing yoga for 13 years, but it wasn’t until six years ago that she became a certified yoga instructor. She pursued her training after experiencing a medical crisis that altered the course of her life. At that time, she had two young children and was working 80-hour weeks for a local property preservation company.

“I woke up one morning and I was paralyzed,” she said. “I couldn’t walk. I couldn’t talk. My vision was impaired.”

The Utica College graduate was rushed to Albany Medical Center and for the next four months she was in and out of the hospital. Her condition baffled doctors who eventually concluded that Lyman suffers from an autoimmune disease that causes her adrenal glands to shut down when her body in under stress. Although her actual diagnosis was inconclusive, she said the disease is similar to lupus.

It was only after Lyman adopted a holistic lifestyle which included eating only “food from the ground” that her health gradually started to improve.

“Before my illness, I was eating processed foods, working ridiculously long hours, and practicing no self-care,” she said. “I started drinking celery juice non-stop, eating lots of sweet potatoes and greens, and practicing a lot of medication and yoga. It was through that mind body connection that I was able to bring myself out of it. After I got back into my yoga practice, I never put it back down again. It literally saved my life.”

As soon as she was able to return to work, Lyman took a job at Saratoga Hospital where she worked as a patient care assistant in a cardiac and renal unit. After strict COVID protocols limited her contact with patients, she made a decision to leave the hospital.

“I opened myself up to find my next step in life,” she said. “I just knew there was something waiting for me, and the week that I left Saratoga Hospital, I was scrolling online and saw an ad that said ‘Do you want to own a yoga studio?’”

It was Lyman’s dream to own her own studio, and even though she was skeptical of the advertisement, she responded to it. A short time later she was contacted by LaPointe who invited her to come to the studio and take a class. It was Lyman’s first time at Yana Yoga, but the moment she walked through the door, she said she knew it was where she belonged.

For much of the next year, Lyman worked

Skin Care • Body Wellness

Shelley R. Riopelle Owner • Esthetician

142 Saratoga Avenue, South Glens Falls

518.741.6001

shelley@skinrenaissancespa.com www.skinrenaissancespa.com

Samantha Lyman owns Yana Yoga in the Malta Commons Business Park in Malta. ©2022 Saratoga Photographer.com

closely with LaPointe, learning the ins and outs of operating the studio. On Jan. 1, 2021, she became the new owner.

Its approximately 1,500-square-foot space features two studios that are used for adult and children’s yoga classes, yoga teacher trainings, Reiki sessions, and a variety of specialty classes and programs. Classes are available for all skill levels, and the majority are also offered online.

Yana’s beginner class is especially popular and is designed for people who have never practiced yoga.

Memberships are not required, and the studio offers drop-in rates as well as monthly multi-class and unlimited packages. There are four instructors in addition to Lyman, who is also a certified Reiki practitioner.

Lyman said buying a business was a scary prospect, especially in a world filled with pandemic uncertainly. Because of COVID, the studio is operating at a lower capacity. Lyman will continue to evaluate and adjust class sizes as necessary.

Discussing her health crisis, she calls it both the best and worst thing to ever happened to her.

Although she endured a great deal of suffering, the experience gave her the opportunity to take a hard look at her life.

“By working 80 hours a week, I literally ran my body into the ground and was of no use to anyone.

The biggest thing that I have learned is that there is success in simplicity. This is why I do what I do and why I am so passionate about it,” she said.

“I always dreamed of owning a studio—of having this home where people could come and feel seen, heard, and loved. That is literally my biggest goal—to let every single human that I come into contact with feel seen, heard and loved. I think everyone deserves that.”

For more information, visit yanayoga.net.

BY SUSAN ELISE CAMPBELL When Manuel Astruc, M.D., expanded his psychiatric practice years ago from a solo office to one with four nurse practitioners and specialists, he said “the pattern shift would have a bigger impact on the mental health of the community.”

Now Astruc has introduced a new modality, the first in Saratoga County, that he believes will have the same positive effect. The little-known TMS technology he has acquired has been FDA approved for more than 10 years.

“Mental health in the workplace and the impact of depression on company production is a problem,” he said.

According to the Center for Disease Control, “the percent of physician office visits with depression indicated on the medical record is 10.6” and “the percent of emergency department visits with depression indicated on the medical record is 11.2.”

“Even medical professionals and therapists don’t know it’s available,” said Astruc, who has lived and practiced in the Saratoga area for more than 26 years.

TMS stands for Transcranial Magnetic Stimulation, a machine that stimulates deep areas of the brain and “advances the treatment of mental health disorders without medications or side effects,” he said.

One reason many sufferers of depression, obsessive-compulsive disorder and addiction have been unaware of the existence of TMS therapy is because it is expensive to bring into a psychiatric practice and costly to use in terms of time and manpower, according to Astruc.

“The typical course of treatment takes four to six weeks with five visits per week,” said Dr. Astruc. “That is time-intensive for the practice as every-day visits put demands on staff.”

Moreover, other protocols must be followed in order for health insurance carriers to cover high treatment costs, according to Dr. Astruc.

“FDA says a patient has to have failed out of one medication in order to use TMS in an approved fashion,” he said. And insurance companies can impose other requirements before they will begin to pay for TMS therapy—and then only for severe cases, he said.

“Their protocols vary,” said Dr. Astruc.

“These may include two to four medical trials in addition to one or two courses of psychotherapy” all of which must be shown not to have worked.

“This is the world we live in,” he said. “TMS is the next modality, but the failed protocols must first be documented by the insurance company.”

Before TMS, a patient would have to be unresponsive to electroconvulsive (ECT) therapy, which dates back to the 1930s in Europe.

This was first used in the U.S. in the early 1940s, Astruc said, when “psychiatric hospitals were the size of cities because there was no treatment for these patients. ECT requires inpatient hospitalization for two to four weeks and the shock is administered three times a week,” he said. “It is referred to as ‘shock therapy’ and while scary, it is effective.”

“That is a long time to be away from family and work,” he said. “With TMS, patients are relieved to hear there is a non-invasive option that is less intense, better tolerated, and does not require hospitalization.”

One side effect of shock therapy is that patients

Manuel Astruc, M.D., uses a Transcranial Magnetic Stimulation machine on a patient. ©2022 Saratoga Photographer.com

could have a seizure hours or days after the shock was administered, which is why patients were treated in hospital, Dr. Astruc said.

“It is possible for a TMS patient to seizure as well, but it would happen while the stimulation was going on, not later in the parking lot,” he said. “So the doctor can address the situation immediately by turning off the machine until seizing stops.”

Astruc said such a risk is rare. Only one in 10,000 patients are affected in this way.

There is no pain associated with treatment.

Instead, patients have a sensation “like a woodpecker tapping on their head, but they get used to it quickly,” he said.

As TMS became widely accepted by insurance, it “made more sense to offer this treatment to patients who were not responding to medications,” he said.

Depression is the primary diagnosis being treated with TMS. Depressed patients feel helpless and hopeless as they struggle to cope with life. Astruc said insurance companies “require the patient to have a severe episode such that they can barely function, but the insurer still can decide whether to cover TMS therapy.

Patients can try one more drug and perhaps improve 5 percent,” he said. “But TMS is 50 to 70 percent effective.”

Astruc said there are genetic and environmental influences behind the incidence of depression and other disorders.

He said an increasingly sedentary society has factored into the incidence of depression and the COVID pandemic has amplified the problem.

“Our brains and our bodies are functioning in a different way without social connection,” said Astruc. “And constant bombardment by negative stimulation doesn’t make us feel good.”

“Stress used to be defined as a physical demand on the body that was transitory,” he said. “A constant low-grade demand on the brain affects the hormones that regulate our bodies.

We were not made to function that way.”

Learn about TMS therapy at www. manuelastrucmd.com or on his Facebook page, where there are videos and more information.

His 414 Maple Ave., Saratoga Springs, office can be reached at 518-583-7410.

SARATOGA BUSINESS JOURNAL • APRIL 2022 • 11

•

Business Report IRA Distributions For Hybrid Long-Term Care

BY BRIAN M. JOHNSON, MBA, CLTC Many clients have qualified assets they intend to use for retirement income. However, there is one risk that could potentially jeopardize even the most well thought out plan—the need for long-term care or extended healthcare.

Long-term care is defined as needing assistance or supervision with everyday activities of daily living or ADL’s. A long-term care event is generally not cure oriented and the need for services, whether in home or a facility, is expected to last longer than 100 days. This type of care of referred to as custodial care, and a reason why traditional health insurance, Medicare and/or Medicare Advantage plans don’t cover it.

Our default plan includes trying to qualify for Medicaid, which is a financially means tested program, which typically covers a nursing home, zero assisted living and limited home care or to use our own assets and income.

A hybrid long-term care policy is another popular way to address the risk. It’s a type of permanent life insurance policy which offers three core benefits: An income tax-free life insurance death benefit long-term care services aren’t needed, cash indemnity benefits to pay for home care, assisted living and/or skilled nursing and a return of premium rider, which allows the insured to surrender the policy and receive either all or a portion of their premiums back with no penalty or charges.

Unlike a traditional long-term care policy, policy premiums are guaranteed and can never increase and benefits for are paid in cash to the insured, meaning the insured can use the funds however he/she sees fit, whether it’s to offset other bills, pay a family member or licensed providers.

It’s an asset allocation approach to financing long-term care needs.

A draw back of the policy is that premiums tend to be higher than that of a traditional policy because of the fact that’s it’s filed a permanent life insurance policy and the premium payment period is condensed to either one, single payment or over 5, 10 or 20 years. Typically, clients are using safe money assets like money market accounts or certificates of deposit to fund the policy.

However, some people may not have the liquid assets to cover premiums but may have accumulated sizeable balances in their qualified retirement plans or IRA’s. This strategy carves out a portion of the client’s qualified assets to purchase an IRA annuity. The taxable distribution creates a premium to purchase tax-free LTC coverage that can help pay for potential LTC needs that could occur in the future. Let’s look at and example where all values are hypothetical and subject to underwriting approval.

Jessica—60 years old, in good health and married—is concerned about LTC after seeing how those expenses impacted her parent’s retirement plans. Allyson’s parents thought they were well set, and were until care expenses started to deplete their savings.

Jessica’s father passed away first, but his LTC expenses left her mother’s life-style impacted - leaving no extra money for the travel she had hoped to enjoy with friends in her golden years.

Eventually, her mother had five years of LTC

Hospital Offers Interviews To Those Who Complete SUNY Adirondack Tech Course •

Brian M. Johnson is a director at Advisors Insurance Brokers in Clifton Park.

Courtesy Steven Luttman

expenses of her own, and the money she was hoping to leave to her family was gone. Jessica’s goal is to have a plan that includes LTC coverage.

The strategy: Jessica decides a hybrid longterm car policy would best fit her needs. Once claims qualifications are met, full LTC benefits are available — without the need to submit bills or receipts. She likes the flexibility and simplicity the cash indemnity benefits provide. Since there are no restrictions on how LTC benefits can be used, Jessica can use her benefits to pay for a variety of needs that may not be covered by a reimbursement LTC policy, including using her benefits to pay for informal care from an immediate family member or hiring less expensive and potentially more accessible unlicensed caregivers.

Jessica will carve out 10 percent of her portfolio ($100,000) and transfer it from her 401K plan into a IRA Single Premium Immediate Annuity (SPIA)—which will be set up with a guaranteed 10-year term certain payout. Her annual distribution of $11,000 will start immediately.

Distributions will be fully taxable as ordinary income because it is coming from an IRA annuity.

The entire $11,00 annual distribution from the SPIA will purchase a Hybrid LTC policy with a 10-year annual premium schedule. Jessica has decided to pay taxes due on the distribution out of pocket to preserve more funds for the premium payments.

Premiums are guaranteed to remain the same and the policy will be fully paid up in 10 years. Her annual distribution will be leveraged into a total of $417,836 of tax-free long-term care benefits; and should Jessica pass away without needing her LTC benefits, there is a death benefit of $139,279 that will be paid tax-free to her beneficiaries. If she passes away before all term-certain annuity payments have been received, any remaining payments will also be paid to beneficiaries (those funds will be taxed at the beneficiary’s ordinary income tax rate).

Should Jessica need to use her LTC benefits, and upon claims qualifications being met, Jessica will receive a monthly tax-free LTC benefit of $6,000 for six years. Even if all the LTC benefits are used, there is a minimum death benefit

SUNY Adirondack and Saratoga Hospital have entered into a partnership that guarantees individuals who complete the college’s sterile processing technician course an interview for open technician positions at the hospital.

“This is an incredible opportunity for those interested in this rapidly growing field to get the training they need to secure a fulfilling, in-demand career,” said Caelynn Prylo, assistant dean for Continuing Education and Workforce Innovation at SUNY Adirondack. “SUNY Adirondack knows Saratoga Hospital needs skilled, highly trained applicants, and we are thrilled to be able to provide them.”

Saratoga Hospital will offer interviews to participants who successfully complete the sterile processing class. The positions available at the hospital include a competitive benefits package with medical, dental and vacation time.

The sterile processing technician course is one of two 12-week courses offered by SUNY Adirondack through Workforce Readiness Academies Program (WRAP) Reimagine Grant, funded by state and federal Departments of Labor. For no cost, qualified applicants can participate in sessions in sterile processing or python for data analytics.

Interested individuals must be at least

18 years old and have been impacted by the COVID-19 pandemic.

These courses are geared toward people seeking occupational skills for a career in the high-demand industries of information technology and health care.

SUNY Adirondack successfully offered two WRAP courses in 2021, both in information technology-related fields.

“Seeing such great success from participants in the WRAP grant is inspiring, as the college helps propel individuals’ career paths and provides regional employers with the skilled workers they need,” Prylo said.

The sterile processing technician class is offered in partnership with Condensed Curriculum International (CCI) and teaches participants decontamination, cleaning, assembling, packaging, scanning, sterilization, storage and distribute of reusable surgical instruments and equipments. Students will gain knowledge of surgical instruments, devices and medical terminology, as well as the handson aspects of processing the equipment to ensure safe medical care.

To learn more about WRAP Reimagine Grant, visit www.sunyacc.edu/greatfutures-high-demand-careers-start-here.

To find out if you qualify for the free training programs, visit form.jotform. com/220183711247146.

SUNY Empire State Gets Grant To Help Boost Enrollment In Its Nursing Program SUNY Empire State College will enhance nursing program to address the state and nation’s critical nursing shortage The college has received a $245,580 grant from the SUNY system that is expected to boost enrollment in the college’s nursing program and help address the state and nation’s critical nursing shortage, officials said.

The funds are part of a $3 million SUNY Nursing Emergency Training Fund designed to enable more students to enroll in SUNY’s nursing programs. SUNY Empire will use the money to offset the initial cost of hiring a full-time faculty member and an operations coordinator in its nursing program.

The funding, which will be available July 1 after the state budget is approved, will enable the college to increase enrollment at the School of Nursing and Allied Health by 100 students.

In all, SUNY campuses have more than 70 accredited nursing programs. SUNY campuses were eligible to apply for funding of up to $250,000. The funding can be used in various ways, including curricula development, partnership expansion, and the purchase of instructional equipment and technology.

At SUNY Empire, most of the additional guaranteed which would pay a residual death benefit of $28,000.

This example highlights how qualified assets can be repositioned to provide significant longterm care benefits without the risk of losing the premium dollars if care is never needed. As our

students are expected to come through the Multi-Award Nursing Program that SUNY Empire shares with Nassau Community College (NCC). NCC received $247,000 from the same SUNY funds to expand their nursing program.

SUNY Empire officials also expect more students to enroll through its RN to BSN transfer pathway program that the college has with SUNY Orange. Through that partnership, which was created last fall, nursing students have the option to seamlessly transfer to SUNY Empire’s BSN program after they obtain their associate degree.

The partnership provides scholarship options and allows the transfer of 63 credits earned at SUNY Orange to SUNY Empire, reducing the time to earn a degree and saving students money.

College officials said that across the country, the demand for nurses is increasing as Baby Boomers age. According to the U.S. Bureau of Labor Statistics, the need for registered nurses is expected to grow 9 percent each year between 2020 and 2030. In New York, a report by the state Department of Health projected a shortage of 39,000 nurses by 2030. population ages, the strain on the healthcare system will only become more strained, putting increased pressure on public financing options.

A little advanced planning can help ensure that your family members aren’t burdened and the savings you worked so hard for is protected.

SARATOGA QUALITY HARDWARE Monday - Friday: 7:00AM - 6:00PM “Start with Quality, Quality Hardware!”

Saturday: 8:00AM - 5:00PM Sunday: 9:00AM - 5:00PM

COME IN AND CHECK OUT OUR NEW LUMBER YARD!

110 Excelsior Ave, Saratoga Springs, NY

518-584-9180

12 • SARATOGA BUSINESS JOURNAL • APRIL 2022

SPECIAL SECTION

SARATOGA BUSINESS JOURNAL

Entrepreneurship

As Business Grows, ‘Chimney Heroes’ New Technology Allows ‘Rocket Recycling’ Owner Builds His Own Training Facility To Process Hundreds Of Cans Per Minute Chimney Heroes, a chimney services company based in Ballston Spa, has been experiencing a series of growth spurts over the past several years, according to president Jamie Wallace.

The COVID-19 pandemic has changed how people live in their homes. In turn, the home services industry has experienced a lot of record-breaking growth, he said. The latest iteration of Chimney Heroes’ growth trajectory is the completion of a 3,000-square-foot training facility and a new, larger warehouse.

Chimney Heroes provides chimney inspections, sweeping, repair, masonry work and installation of gas and wood fireplaces.

Wallace said the secret to the company’s growth and strength is his commitment to education.

All company technicians experience continuing education for excellence training, both internally and externally in an ongoing fashion. The construction of a dedicated training facility is the physical manifestation of years of investment in staff education and training.

“We have a manager on staff whose sole responsibility is training technicians in the field,” said Wallace. “Our company’s core values include professionalism and leadership development and my promise to my team is that I will provide everything they need to succeed and thrive in the chimney care business.

“We have a modern-day apprenticeship to tradesperson program, and we’re always looking to meet new serious candidates who’d like to study and work with us.”

The implementation of the new training facility comes at a time when many young people in the region are second guessing traditional higher education for career pathways. The trades offer job seekers meaningful work with great compensation.

Currently there is a gap between supply and demand in the home services trades: demand for skilled tradespeople far exceeds the supply of available talent, said Wallace.

Chimney Heroes’ decision to invest in a dedicated training facility, and provide on the job training for all staff is potentially solving family, community and society level problems of the future on multiple levels.

Chimney Heroes offers a variety of other

Jamie Wallace, right, Chimney Heroes owner with Michael Wager, center, and Tyler Delsignore. services. They perform masonry work, dryer vent cleaning and gas fi replace and stove cleaning and installation. The company also sells wood burning and gas fi replaces as well as wood, gas, and pellet stoves. His service area extends south to Albany and north to Warrensburg.

When Wallace started Chimney Heroes in 2010 it was originally named Saratoga Chimney Sweeps. He relied on word of mouth, networking groups and other marketing to develop a customer base.

The growth of Chimney Heroes was brought on in part because of two separate injuries Wallace suffered while on the job. He was out of work for several weeks, and during that time he earned no income.

There is no worker’s comp for business owners. “There’s nothing that protects you if you get hurt and can’t run your business,” he said. “That's when there was a shift in my focus. I realized I had created a really nice job for myself, but I didn’t have a business.”

His company continues to grow. He used to send employees regularly to attend industry conferences, trainings and certification programs. Now he can do the training inhouse.

For more information, visit chimneyheroes. com.

Tyler Russell, owner, and Allegra Christidis, store manager, pose inside Rocket Recycling in Glens Falls, a can and bottle redemption center that can process hundreds of items per minute.

BY PAUL POST An entrepreneurial Saratoga Springs couple has turned a widespread labor shortage to its advantage by adopting state-of-the-art technology to open a new can and bottle redemption center.

The business, called Rocket Recycling, welcomed its first customers on March 11. It is located at a former Stewart’s Shop building at 255 Ridge St. in Glens Falls.

“It’s all about speed, getting people in and out quickly and being super efficient,” said Tyler Russell. “Our tagline is the ‘Fastest Redemption Center in the Galaxy’.”

He owns the firm with his wife, Julia.

“We just saw an opportunity to do something a little different, using equipment to differentiate ourselves from other places like this,” Russell said.

“We’ve been kicking this idea around for several years. The biggest problem today is labor, the same as any industry.”

By surfing the internet, the Russells found an Elmira-based firm, JK Peris, Inc., which specializes in recycling equipment. Such technology eliminates long lines and reduces the need for hiring employees.

At supermarkets, customers have to feed cans and bottles into a machine one at a time. At some redemption centers, people may encounter long lines and have to reschedule drop-offs.

“We can do literally hundreds of cans every minute and be super accurate with it,” Russell said.

“You should be in and out in minutes.”

The couple did research and analysis to make sure there would be enough volume to make the business viable. The location is in close proximity to a residential area and directly across the street from a new, heavily-trafficked Stewart’s Shop.

Eventually, the couple would like to expand to other markets, Saratoga Springs in particular.

“With Glens Falls, it was finding a building in the right location, all set to go, at the right price,” he said. “It was just the best place to start. There’s a few other locations we’d love to have, but the price is a little bit out of our reach until we know more about the economic realities of the operation.”

Russell is no stranger to the business world, as co-owner and day-to-day operator of a Lake George-based firm called StoriedBoards, which specializes in reclaiming authentic barn board and vintage wood, and reselling it for residential and commercial applications such as flooring, custom furniture, mantels and shelves.

Russell owns that business, which opened in 2012, with his father, Whitney, and brother Garrett.

Whitney and Garrett Russell also own and operate Sunnyside Par 3 golf course in Queensbury.

A recent pandemic-related change in StoriedBoards’ business model helped trigger Tyler and Julia Russell’s decision to open Rocket Recycling. Previously, the Russells would go out in the field, and find and bring back vintage wood on Continued On Page 14

Are you taking a socially conscious approach to investing?

Rob Snell Financial Advisor 34 Congress St Suite 102 Saratoga Springs, NY 12866 518-583-7875

edward jon es.com MKT-5894K-A

SARATOGA BUSINESS JOURNAL • APRIL 2022 • 13

Mint, A New Restaurant in Glens Falls, Vested Veteran Grill In Corinth Gives Some Specializes In Fresh Farm-To Table Dishes Of Its Proceeds To Help Veterans With PTSD

BY PAUL POST A new Glens Falls restaurant is specializing in farm-to-table dishes featuring fresh food sourced from throughout the region.

Johanna von Geldern and her daughters, Katriel and Cagney Houlihan, welcomed their first patrons to Mint, at 80 Warren St., on April 8. She previously owned Sweet Beet Bistro in Greenwich, which closed in March 2020 when COVID-19 hit.

Her focus on serving the highest quality, fresh food remains unchanged.

“With COVID, it just kind of re-emphasized the importance of healthy eating and knowing where food comes from,” von Geldern said. “We became part of the food revolution, reducing carbon footprint, and teaching people about ingredients we were learning about, too.”

“It kind of evolved organically because we’re surrounded by so many farms and artisans,” she said. “We saw this abundance of beautiful food around us.”

The eatery is housed in the former Mailings Made Easy building, owned by Glens Falls developer Peter Hoffman. Its elegant atmosphere reflects the owners’ commitment to providing a rewarding experience for each guest.

Paintings by Glens Falls artist Susan Beadle adorn the walls. A long, black banquette from the State Capitol in Albany gives the main dining room a flair of historic ambiance. In summer, a large glass door will open onto a spacious outdoor dining patio.

When developing the menu, care was also taken to accommodate every diner’s wish, from pizza using custom-made dough from Rock Hill Bakehouse to pasture-grazed meats, wild caught seafood, pasta and vegan dishes.

Vermont-based Black River Produce, which distributes throughout New England and parts of New York, is Mint’s main food purveyor.

Items also come from The Alleged Farm in Valley Falls, Old Saratoga Mercantile in Schuylerville, whose greenhouse yields fresh greens year round, plus Glens Falls Produce, which sources items from Boston markets.

A highlight of Mint’s cheeseboard is the popular Bayley Hazen Blue from Jasper Hill Farm in Greensboro, Vt. Chef Christopher Kerr joins Mint after spending several years at area establishments such as Lake George Beach Club, where he was executive chef, along with Lake Local and Mingle on the Avenue in Saratoga Springs.

“Once summer hits I can’t wait to go to the farmer’s market, talk to local growers and see what kinds of products we can get,” he said.

“It’s important for people to respect where food comes from and to broaden their horizons about food.”

UPDATED BUSINESS NAME CORRECTION - 4/19/22

Johanna von Geldern, right, owner of Mint, with general manager Brandi Michal.

Paul Post

Mint’s mission is giving each guest a “healthy but super-fun time” in an “elegant but comfortable” setting where casual attire is the rule, Katriel Houlihan said.

Several years ago, while living in Florida, von Geldern came north to visit Katriel and happened to stop in the former DISH Bistro in Greenwich, which she quickly fell in love with.

“I had worked for a friend who needed someone to run a bar and restaurant on the pier at Panama City Beach,” von Geldern said.

“It was kind of like getting a master’s degree in how to run a small food business because we had to get all the approvals, figure out the menu, hire people, and know how to handle money. I did that for one whole season and it was successful.”

But she always wanted a small place of her own, like DISH. Not long afterward, during lunch at a Chinese restaurant, von Guldern broke up a fortune cookie. “Inside it said, ‘Dish,’ one word,” she said. A couple of months later, Katriel contacted her mother, letting her know that DISH Bistro was for sale, turnkey.

So von Geldern, a former elementary education teacher, decided to start a new fulltime career.

After a year in business, she rebranded DISH to Sweet Beet Bistro, with an emphasis on farm-to-table menu items. “A lot of New York City people and people who travel all over the world have second homes in Greenwich, so we had customers seeking really good quality food,” von Geldern said.

Its website is www.mint518.com.

Hours are 3-9 p.m. Tuesday, Wednesday, Thursday and Sunday; 3-10 p.m. Friday and Saturday.

BY JILL NAGY The Vested Veteran Grill at 126 Maple St. in Corinth honors the owners’ military service and helps other veterans and active duty service members.

The grill has been open since last June and was preceded by a catering operation, still active, that started in April 2018.

Allen Lapelle and his wife, Kendie, and a staff of 10 operate the grill and catering service. Other partners are Jennelle Hoffman, Tyler Kirchoff— who is also the building landlord—and Jason Shippe.

One-tenth of the profits from the catering business are donated to an organization that assists veterans with PTSD. Lapelle said he is “big on community.” He was especially pleased to host the Corinth High School girls’ basketball team when they celebrated winning the Adirondack League championship. In another bow to the community, the Grill serves locally roasted Engine 3 Coffee.

Lapelle was born and raised in the area. He spent five years in the U.S. Air Force, until 2014.

Straight out of the military he took a job cooking.

Then, he decided to learn more and signed on for programs at BOCES and the Culinary Institute.

He served internships at Yaddo, in Saratoga Springs, and at a restaurant in New Orleans.

“I’m new to the game. I’m still learning a lot,” he said.

The grill is open from 7-11:30 a.m. Tuesday to Sunday for breakfast. From Wednesday to Sunday, they remain open for lunch until 2 p.m. Then, the restaurant closes for an hour to prepare for dinner, which is served from 3 to 8 p.m. Wednesday to Sunday.

Favorites of the mostly local clientele include fried chicken, rueben sandwiches, chicken with waffles, hamburgers, and club sandwiches. They make their own candied jalapeño peppers and

Ellie Stultz is the front end manager at Vested Veteran Grill in Corinth. smoke their own pork. Another specialty of the house is Buffalo chicken dip on a burger.

“It’s a diverse menu,” he said.

An application is in process for a license to serve beer and wine. The Veterans Business Network and the Adirondack Chamber of Commerce are guiding Lapelle in the somewhat daunting process but he expects to wait six months to a year for the license.

The dining room can seat 63 people at its eight tables. They also sell takeout meals.

So far, business has been “great,” although things slowed down a bit in the winter, Lapelle said, when there are fewer tourists in the neighborhood. Like so many business owners, he has had some trouble finding adequate staff and working his was through the restrictions of the COVID pandemic. “But, we’re getting through it,” he said.

The phone number is 518-654-8036.

s GOT COCKTAILS? ’ y d r u P esents Pr SERVING SIZE: 1 DRINK

INGREDIENTS

French Pearl

2 ounces gin (Purdy’s picks: The Botanist Gin, Springbrook Sly Fox Gin, Black Button Lilac Gin) 1/4 ounce pastis (Purdy’s picks: Ramazzotti Sambuca Liqueur, Anisette di Calabria Liqueur, Pernod Pastis Aniseed Liqueur) 3/4 ounce lime juice 3/4 ounce simple syrup 6 mint sprigs DIRECTIONS In a shaker tin, add the lime juice, simple syrup and mint then muddle.

Add the gin, pastis and ice and shake until chilled.

Fine strain into a coupe.

Stop by to get all of the ingredients!

Curbside pick-up available.

518.584.5400 | PURDYSWINE.COM | 70-72 CONGRESS PLAZA

14 • SARATOGA BUSINESS JOURNAL • APRIL 2022

Personnel Briefs

Otis Named Corporate Responsibility Officer, Community Relations Manager At KeyBank

Continued From Page 2

*

*

*

Dr. Matthew Stringer has joined Saratoga Hospital Medical Group – Urology.

He is one of nine providers in the practice, which has offices in Saratoga Springs and Malta.

Stringer comes to Saratoga Hospital from Eglin Air Force Base Hospital in Florida, where he served as chief of urology and held the rank of major. He served in the Air Force for 12 years, including nine as a urologist.

A graduate of Hamilton College, Stringer earned his Doctor of Osteopathic Medicine degree from Nova Southeastern College of Osteopathic Medicine in Florida. He completed an internship in general surgery at Brooke Army Medical Center in San Antonio and a residency in urology at San Antonio Military Medical Center. He is board certified in urology.

He gained valuable experience caring for wounded soldiers returning from Afghanistan and Iraq and participating in humanitarian medical mission trips to Central America.

In recognition of his military service, Stringer was honored with the Global War On Terrorism Medal and the Outstanding Unit Award.

Roohan Realty announced that Samantha Fowler has joined the team as a licensed real estate salesperson.

Fowler, of Ballston Spa, was born and raised in North Carolina, attended the University of North Carolina - Wilmington. She started her real estate career in 2021 working as a legal assistant at a law office specializing in real estate transactions. *

*

*

Upstate Agency LLC, part of the Arrow Family of Companies, recently appointed Taylor Slone as commercial lines account manager.

Slone will be responsible for offering insurance solutions, as well as servicing and retaining commercial clients throughout the agency’s service area, including the greater Capital Region.

She brings seven years of insurance experience to Upstate Agency. Prior to joining, Slone held upper-level roles in account management and sales throughout the greater Capital Region.

Slone achieved the Certified Insurance Counselor (CIC) designation from the National Alliance for Insurance Education & Research. She earned a Bachelor of Science degree from the University of Vermont.

Active in her community, Slone is a member of the board of directors for the Capital Region Aquatic Center. She currently lives in Saratoga Springs.

Time for a change?

If you’re not satisfied w with itth y your our p portfolio, ortfolio o maybe it’s time for a new strategy.

At Sterling erling Manor Financial, we specialize in compreh comprehensive hen ns retirement planning and portfolio management..

518-583-4040 518 4040 For a Fr Free ree Consultation n

ancial, LLC, an SEC registered investment

advisor

!!

Please join Soroptimist International of Saratoga County and Honorary Chair Dottie Pepper at Saratoga National Golf Club for the 2nd Annual Spring Fever Golf Tournament!

Wednesday May 18, 2022 Price: $250 Ticket Includes 18 Holes of Golf, Light Breakfast, Boxed Lunch and Sit-down Dinner (to go options available) Golf Cart, Access to the Driving Range, raffles, prizes and more!

Sponsorship opportunities also available!

BIO Dottie Pepper is the lead walking reporter for CBS Sports’ coverage of the PGA Tour, Masters and PGA Championship. She is a 1987 graduate of Furman University with a B.A. in Health Sciences. After an accomplished junior, college and amateur golf career, she went on to play 17 years on the LPGA Tour, winning 17 times, including 2 major championships and one additional win on the JLPGA Tour. She represented the United States six times in the Solheim Cup matches, compiling a 13-5-2 record. She retired from competitive golf in 2004. She has covered all levels of televised golf, including every major championship, international team events, as well as national amateur championships for ESPN, Golf Channel, NBC and CBS. Dottie served as a member of the PGA of America Board of Directors from 2012-2015 and the NENY PGA Board of Directors from 2009-2015. She was the recipient of the 2016 William D. Richardson Award, presented by the Golf Writers Association of America for her consistently outstanding contributions to golf. She is also 2018 inductee to the New York State Golf Association Hall of Fame.

For additional information about the event please visit our website below or contact our Committee Chairs: Beth Hladik drbethcc@gmail.com Amanda Friedman a.friedman06@gmail.com

www.soroptimistsaratoga.org/springfever

KeyBank has named Tam ika Otis its corporate responsibility officer and community relations manager for the Capital Region and Central New York markets.

Otis has more than 15 years of leadership and program management experience and will oversee KeyBank’s broad community engagement strategy.

Officials said this includes Community Reinvestment Act (CRA) compliance and execution of KeyBank’s National Community Benefits Plan in the Capital Region. Since 2017, KeyBank has invested more than $666 million in Albany and the surrounding region through this plan, supporting small business and home lending in low- andmoderate income communities, affordable housing and community development projects, and philanthropic efforts targeted toward education, workforce development, and safe, vital neighborhoods.

Before joining Key, Otis served as the director of the KeyBank Business Boost & Build Program, powered by JumpStart. The initiative was designed to stimulate economic growth and workforce development by fostering small business success. As director, she exceeded all of KeyBank’s established performance metrics for the four-year program in just three years, according to KeyBank. Also during her time at Jumpstart, Otis managed and executed grant funds across four Upstate New York markets during the COVID-19 pandemic, deploying capital to 128 small and under-

Rocket Recycling Continued From Page 12

their own, from throughout the Northeast. They would enhance the character and attraction of old wood by researching and documenting the history of every structure it came from. So a homeowners could say, for example, that their rustic mantle came from an 18th century barn in Connecticut that was beyond repair.

“Unfortunately, along with everybody else in the world, our lives and business had to change because of the limitations we were faced with the past two years,” Russell said. “With COVID, you didn’t know if there was going to

Tamika Otis has 15-plus years of leadership and program management experience.

Courtesy KeyBank

resourced business owners.

Otis has won several awards for her work within the communities she has served, including the 2016 “40 Under 40 Latino Rising Stars” award given by the Hispanic Coalition of New York. Active in the community, she serves on the boards of the Women’s Fund of Central New York, Onondaga County Youth Bureau and Good Life Youth Foundation for Entrepreneurship.

She also serves as an advisor to the Upstate New York Black Chamber of Commerce headquartered in Albany. be a work stoppage, you couldn’t leave the state without quarantining. Interstate commerce was prohibitive.”

The Russells had to make a tough choice, cease operations or rely on a select few others to find and provide reclaimed lumber for them. They chose the latter.

“StoriedBoards is doing great,” Tyler Russell said.

The timing seemed right to diversify, so with a good location and the latest technology, he and Julia are now among Glens Falls’s newest business owners.

Rocket Recycling is open six days per week, 9 a.m. to 5 p.m. Monday to Thursday and Saturday; 9 a.m. to 1 p.m. Friday; closed Sundays.

Card Catalog

SARATOGA BUSINESS JOURNAL • APRIL 2022 • 15

TARGET CUSTOMERS IN THE COMMUNITY AROUND YOUR BUSINESS.

EDDM Every Door Direct Mail

Minimum Effort • Maximum Results GRAPHIC PRECISION 518-232-8695 • GraphicPrecision.com

Card Catalog

Richard Kessinger Owner

P.O. Box 187 Saratoga Springs, NY 12866

(518) 944-0359

saratogalawnmaintenance@gmail.com

WILLIAM G. HAUPRICH CARPENTRY CHERRY MAGNET ENTERPRISES SERVING THE SARATOGA AND BALLSTON SPA AREAS Custom Cabinetry and Furniture Vintage Home Repair and Renovations

518-885-5982

We’d like to promote your commercial or residential property. Call us, 581-0600.

•

G

•

LI ST IN

traditions of Saratoga.”

The Stella Artois Spa Verandas features six partially covered seating areas, comfortable lounge furniture, mounted televisions, betting machines and a private bar with unimpeded rail-side viewing of the final turn. Each package includes admission and programs. Food and beverages may be purchased separately.

Group reservations for 30 fans or more are available for The Rail at the 1863 Club—the first-floor banquet space that debuted three years ago. The Rail features floor-to-ceiling windows and offers table seating for up to 500 guests. Fans have access to a private outdoor area on the apron to watch the racing action up close as the thoroughbreds make their way around the Clubhouse turn.

Resorts World Legends Hall is an event space on the second floor of the 1863 Club which accommodates up to 100 guests, in addition to the third-floor luxury suites, with capacities ranging from 30 to 45 guests.

Additionally, reservations will be accepted for two popular group gathering spots in the backyard at Saratoga Race Course: The Big Red Spring and the nearby Festival Tent.

Reservations may be made by phone at 844-NYRA-TIX, email at boxoffice@nyrainc. com or online at NYRA.com/Saratoga. Partial spaces can be reserved starting on Thursday, March 24.

The 2022 summer meet at Saratoga Race Course begins Thursday, July 14, and concludes Labor Day, Monday, Sept. 5. Racing is conducted five days a week, Wednesday through Sunday, with the exception of opening week and the week preceding Labor Day. For more information about Saratoga Race Course, visit NYRA.com/Saratoga.

EW

The New York Racing Association, Inc. announced that full-space reservations for its newest hospitality venue, the Paddock Suite at Saratoga Race Course, are now available for groups of up to 80 guests.

The Paddock Suite, an expansive, permanent structure featuring a climate-controlled lounge, bar and balcony overlooking the historic saddling area, will feature prominently among the many group hospitality options available for reservation this summer at Saratoga Race Course, officials said.

Full-space group reservations are also open for the Stella Artois Spa Verandas; 1863 Club, including The Rail, Resorts World Legends Hall, and Luxury Suites; Big Red Spring Tent and the Festival Tent.

Located adjacent to Shake Shack, the Paddock Suite will offer panoramic views of the backyard and paddock from within an enclosed lounge that will sit above the newly renovated Post Bar. The latter area, a popular open-air gathering spot for racing fans formerly situated beneath a temporary canopy, will continue to be accessible to all guests, ages 21 and over.

Group reservations for the Paddock Suite include admission, choice of food platters, nonalcoholic beverages, coffee and tea, tax, gratuity and race program. Open bar packages can also be purchased.

“We’re thrilled to introduce the brand-new Paddock Suite this summer, on the heels of the successful debut last year of the Stella Artois Spa Verandas and opening of the 1863 Club in 2019,” said Kevin Quinn, NYRA vice president of sales and hospitality. “NYRA is committed to investing in the future of Saratoga Race Course with the addition of these new hospitality and dining venues that honor the history and

Available Commercial & Residential Properties

N

Group Reservations Are Available At Race Track Hospitality Areas For Upcoming Season

434 Church Street, Saratoga Springs, NY $1,200,000 Spectacular commercial property located on almost 4 acres in the city of Saratoga Springs. Located on the busy corner of Church St and Brook Rd for great visibility and the lush, landscaped acreage creates complete privacy. Property includes a charming 3000 SF building that is currently being used for professional offices and services and a year round motel. City water and sewer. Many possibilities and opportunities with this property.. Off the family room area sliders lead to a deck & inground pool & pool house w/toilet & sink

Listing Agent: Mara King 518.527.4003 | marakingrr@gmail.com

16 • SARATOGA BUSINESS JOURNAL • APRIL 2022

Population Gains Continued From Page 1

collaboratively across target industry sectors and organizations to attract and retain talented, diverse people who want to live in New York’s Capital Region because of its lifestyle and opportunity.

The CapNY website—GoCapNY.com—

and its associated social media channels are key elements of CEG’s talent campaign, which markets New York’s eightcounty, million-resident Capital Region as a destination of choice, specifically highlighting its quality of place. To achieve

these objectives, CEG is also targeting out of market social media placements, piloting outreach to universities and colleges to engage students and local companies to engage interns, as well as connecting regional companies and HR professionals to tools for recruitment.

As the nonprofit regional economic development organization, CEG seeks growth by attracting investment and talent; growing manufacturing and workforce capabilities, leveraging industry clusters,

and developing the entrepreneurial ecosystem. It works with partners and stakeholders to prepare the region to compete and move high-impact strategies and projects forward.

An affiliate of the Capital Region Chamber, CEG is supported by investors in business, government, education, and the nonprofit sectors who are committed to sustainable economic growth and shared prosperity. For more information on CEG, visit www.ceg.org.

YOUR FIRST HOME WILL BE HERE. YOUR MORTGAGE SHOULD BE TOO. We’ve been helping our friends and neighbors buy their first homes for well over a century. We will help educate you on all your options, including special loan terms for first-time homebuyers, and personally guide you through the process. You can also save time with our easy online application.* Since we manage all of our mortgage loans right here, we’re available when you need us.

473 Broadway Saratoga Springs, NY 12866 (518) 584-5844 NMLS #645688

AdirondackTrust.com Member FDIC

* Credit approval is required.