Saratoga Business Journal - May 2021

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SARATOGA BUSINESS JOURNAL

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

VOL. 26 NO. 03

HH The Business Newspaper of Saratoga County HH

PRSRT STD U.S. POSTAGE

PAID

GLENS FALLS, NY 12801 PERMIT #600

MAY 2021

www.saratogabusinessjournal.com

Large Unemployment Checks, COVID Fears GlobalFoundries Strategy To Bring HQ To Are Having Harmful Effect On Local Hiring Malta Enforces Future Expansion Plans BY CHRISTINE GRAF According to The Conference Board, a nonprofit that conducts economic research, the current U.S. labor shortage could develop into one of the worst labor shortages of the last 50 years. Companies that employ blue collar and manual service workers are expected to be especially hard hit. This country-wide labor shortage is being felt locally especially as businesses in Saratoga County gear up for the busy summer tourism season. According to Todd Shimkus, president of the Saratoga County Chamber of Commerce, the labor shortage is impacting every sector of the local economy. “It’s affecting every type of business and every type of employer—large and small, entry level and professional.” Although employment shortages existed pre-COVID, they have worsened during the pandemic due in part to the increase in unemployment benefits offered by the federal government. Shimkus said there are other factors at play. “There aren’t many more people unemployed in Saratoga County than there were before the pandemic. There are maybe 1,000 to 1,500 more. We might have been at around 4,500 people unemployed before, and we’re at about 6,000 now. That’s out of a population of 230,000 people.” Although Shimkus acknowledged that some people are choosing not to work because they are earning more on unemployment, he said the situation is more complicated than that. “You also have people who are on unemployment because the schools haven’t gone back into session or they can’t find

Many employers throughout the region are having a hard time finding people to fill jobs. childcare. You also have younger employees whose parents don’t want them to work at jobs where they are front-facing because of health fears. And you have a senior community that might have taken part-time jobs in frontfacing jobs that aren’t going to do that because of health fears.” Karen McLain, human resource manager at Longfellows Hotel, Restaurant, and Conference Center and Olde Bryan Inn, said some of their employees have not been able to return to work due to childcare issues. At the height of the pandemic, they furloughed almost all of their approximately 150 employees. Approximately 50 percent of the furloughed Continued On Page 18

Local officials say GlobalFoundries’ decision to move its headquarters to Malta ‘greatly reinforces the importance of Luther Forest, Malta and Saratoga County’ in future expansion plans.’ GlobalFoundries, a global competitor in the microchip manufacturing industry, has decided to move its headquarters to its facility in Malta. The announcement was made in April at an onsite event in Malta with U.S. Senate Majority Leader Chuck Schumer. GlobalFoundries calls the Malta Fab 8 its most advanced semiconductor manufacturing facility. The change was made as the company positions itself for growth, strengthens partnerships with customers and recruits new talent, officials said. GlobalFoundries has invested more than $15

Courtesy GlobalFoundries

billion in its Fab 8 facility over the last decade to support innovation and manufacturing capacity. In 2021, the company is doubling its planned investment to expand global capacity, with $500 million targeted for Malta alone. The move from its previous headquarters to Malta is part of the company’s commitment to address the soaring global chip demand, with a focus on semiconductor manufacturing innovation. It will maintain a substantial presence in Santa Clara, Calif., in the heart of Silicon Valley, Continued On Page 14

Saratoga City Center Partners With Group To Gideon Putnam Resumes Services For The ‘Re-Imagine’ Trade Show Health, Safety Setup Season With Health, Safety Rules In Place Saratoga Springs City Center has partnered with Total Events to re-imagine trade show setups with safety and COVID-19 protocols in mind. As the convention and meeting industry begins to emerge from the COVID-19 lockdown the entire business of trade shows must be redeveloped, center officials said. “Health concerns from COVID-19 is the reason this change is occurring but it’s also time for the industry to consider how to make the forced change result in better return on investment for the vendors, hosting organizations and attendees,” officials said. “Gone are the days of aisles packed with attendees, handshakes and hugs, people grazing on sponsor provided food & beverage as they browse the trade show floor—at least for now.” Representatives from the City Center and Total Events are available to discuss the setups and those interested are encouraged to call the City Center at 518-584-0027 to schedule a time to view and discuss them. All COVID-19 social distancing protocols will be observed. “We are very grateful to Rich and Melissa Carrier, owners of Total Events, for suggesting this idea,” said Ryan McMahon, Executive Director Saratoga Springs City Center. “Our sales team has been discussing with our decorating partners and clients for over a year how to re-imagine trade shows safely and effectively, this is a collaborative and valuable first step in the process” “Trade Shows are so much more than a place to grab some swag, meet up with industry friends and grab a cup of coffee. They provide lead generation, sponsorship opportunities for organizations, brand awareness and opportunities to launch a new

Saratoga Springs City Center is opening again as pandemic regulations ease up. ©2021 SaratogaPhotographer.com

business”, said Melissa Carrier of Total Events. Saratoga Springs City Center offers 32,000 square feet of adaptable meeting and convention space. This convenient conference complex offers a total of 58,000 square feet of conference space when partnered with the adjoining 242 room Saratoga Hilton Hotel, which can adapt into 28 multifunction spaces. Total Events is a special event company serving upstate New York. Services include convention and trade show services, event rental and décor. Total Events is a WMBE business based in Schenectady.

The Gideon Putnam hotel in Saratoga Spa State Park resumed service on May 5 for the spring, summer and fall seasons. The hotel will be open for stays Thursday through Sunday nights in May before opening seven days a week beginning May 31 (Memorial Day) through the fall. Delaware North, which operates the hotel under a long-term contract with the state Office of Parks, Recreation and Historic Preservation, will again implement its Rest Assured Commitment to Care comprehensive health and safety program. It includes re-engineered operating procedures to minimize contact risk and bolstered hygiene protocols aligned with guidelines of the U.S. Centers for Disease Control and Prevention (CDC). “We know people are looking to book vacations for the summer and fall, but there are also many who are ready to just hop in the car and get away for a few days,” said Jim McGrath, general manager of The Gideon Putnam. Hotel guests enjoy amenities, including: advance tee time booking at the park golf course; use of the outdoor Victoria Pool and Peerless Poo; use of the Roosevelt Baths & Spa relaxation lounge; complimentary admission tickets to the Saratoga Automobile Museum; use of sports equipment for tennis, the putting/chipping green and disc golf in the park; free use of the Saratoga bike share program; and outdoor lawn games such as croquet, bocce

Delaware North operates the Gideon Putnam hotel under a contract with the state. Courtesy Gideon Putnam

ball, and horseshoes. Roosevelt Baths & Spa, which Delaware North also operates for the state, is currently open 9 a.m. to 5 p.m. Thursdays through Mondays. The spa operation will move to seven days a week starting Memorial Day weekend. The spa is following all New York and CDC guidelines, including enhanced cleaning. Masks or other face coverings are required to be worn by all guests and Continued On Page 18


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