SBJ 9 Broad Street #7 Glens Falls, NY 12801
SARATOGA BUSINESS JOURNAL
VOL. 27 NO. 06
HH The Business Newspaper of Saratoga County HH
PRSRT STD U.S. POSTAGE
PAID
GLENS FALLS, NY 12801 PERMIT #600
AUGUST 2022
www.saratogabusinessjournal.com
Former Price Chopper On Railroad Place To GlobalFoundries Gets Expansion Approval Become Market With Takeout And A Bar U.S. Bill To Help Chip Industry Moves Ahead There’s good news for residents of downtown Saratoga Springs who were upset when Price Chopper closed its doors 55 Railroad Place. Adam Foti, founder and owner of PDT catering, plans to open PDT Market in the 19,000-square-foot space which is located on the ground floor of a luxury apartment building. “A lot of the residents above the market and in the neighborhood were sad to see Price Chopper go because you could just walk in and grab a few groceries,” said Jennifer Hull, marketing director for PDT Market. “We won’t be the size of a Price Chopper with aisles and aisles of groceries, but we will have groceries.” Product offerings will be in line with what Hull refers to as the store’s “Good, better, best, model.” “If you want to spend $30 on olive oil, we will have that for you. If you want to spend $10, we will have that as well. We will have affordable options, and there will be glutenfree and vegan. There will be something for everyone.” In addition to groceries, PDT Market will offer grab-and-go food items, meats, and seafood. There will also be a small deli as well as a home décor and wellness section. The store’s full-service bar will offer customers a place to sit down and enjoy a cocktail along with food from a limited menu. The space behind the bar will be used to host small private events as well as cooking classes. Full-service catering for events as well as “pick-up catering” will also be available. “You can order food for your party or barbecue and go pick it up yourself,” said Hull. Foti currently operates PDT Catering out of a space in Ballston Lake but will be consolidating operations in Saratoga. He has developed a loyal following in the Capital Region, and his long-time custom-
Adam Foti, owner of PDT catering, will open PDT Market in Saratoga Springs. Courtesy PDT
ers can expect to receive the same level of quality and service they have grown accustomed to. “His whole mission and vision is to be a part of people’s lives throughout all of their life events,” said Hull. “Once you get to know his products and service, you get hooked. He is flexible and makes things easy. He ends up being your go-to for all the events in your life. Adam is a true professional.” The Railroad Place space will undergo major renovations before PDT Market opens its doors. Foti is working with ABN Design, Paone Architecture, and Bonacio Construction and plans to invest $3 million in the project. “We’re still working on renderings,” said Hull, noting that the renovations will be fairly extensive. “The white drop ceiling is coming down, and the ceiling will be taller and fully exposed. There will be a new floor, and all the equipment is being replaced.” Scheduled to open in the fall, PDT Market plans to have a staff of approximately 30 employees.
The Malta Planning Board unanimously approved a 633,000-square-foot expansion at GlobalFoundries. The building will be built on this campus near its existing structure. GlobalFoundries received the final last local approval needed to go ahead with the construction of a second major building on its Malta property. Officials said the billion computer chip factory will cost $6 billion to $8 billion. It comes as the computer chip industry worldwide has expressed the need to increase capacity to overcome a semiconductor shortage. In another boost to the project, on July 28, the U.S. House of Representatives passed legislation to increase U.S. semiconductor manufacturing known as “CHIPS and Science Act” and the day before the U.S. Senate has passed his historic federal semiconductor incentive, scientific research, and technological competitiveness bill to bring manufacturing back from overseas to places like Upstate New York.
Courtesy GlobalFoundries
The CHIPS legislation now moves to the White House and awaits President Biden’s signature. The Biden Administration has been a strong supporter of increasing semiconductor manufacturing and the many jobs it creates in the U.S.. “With the votes taken in the House of Representatives and yesterday in the U.S. Senate, Congress has expressed broad, bipartisan and national support for leveling the playing field for competitive semiconductor manufacturing in the U.S.,” said Dr. Thomas Caulfield, GlobalFoundries president and CEO. “Congress took action to protect U.S. economic, supply chain and national security by accelerating semiconductor manufacturing on American soil.” On July 26, the Malta Planning Board unanimously approved the 633,000-squareContinued On Page 6
SEDC ‘Very Pleased’ With Judge Ruling That Jill Johnson VanKuren Will Become New Agency Is A Privately Run Organization Hospital President, CEO In September BY R.J. DELUKE A state Supreme Court judge ruled in late July that the Saratoga Economic Development Corp. (SEDC), the main agency in the county responsible for bring in new business and retaining jobs, is a privately run organization therefore not subject to financial oversight by the New York State Authorities Budget Office. The decision was handed down by Acting state Supreme Court judge Richard Koweek on July 27. For SEDC, it hopefully puts an end to a struggle that began in 2005 when state legislation was passed hoping to bring such agencies—those that receive public funding—under the state’s purview for more disclosure of financial information and more scrutiny. The Authorities Budget Office overstepped its power in making that determination, the judge ruled. “We’re very pleased” said Dennis Brobston, SEDC president. “We knew from the beginning we had rights and we didn’t want to be bullied. We were doing what we said we would, the right way.” “It’s been a long 17 years” struggling with this issue,” he said. “It’s one less thing to worry about. Now lets go out and do the things we need to do” to promote the county and grow the economy. The state entity had argued that services SEDC
provided to the county and industrial development agencies extend beyond what is permitted under county law. SEDC works with the Saratoga County Board of Supervisors and industrial development agencies on a yearly renewable pact for marketing services that help in its mission to grow jobs while promoting the county. But most of its budget comes from investors. SEDC “it is not dependent upon the sums received from these contracts with governmental entities for its existence,” the judge’s ruling said. Brobston said, “we have nothing to hide” regarding the confidentiality of the information it garners from companies looking to come to the area. Brobston and the economic group’s directors have always pushed to remain private and free from state oversight and freedom of information laws to ensure companies are able to complete their due diligence and search for potential properties without tipping off their competitors. He said if a company wants to expand, for example, they don’t want information in public that a competitor could take advantage of and cause problems or even nix the deal. “If too much information gets out there, it can affect a company’s operations and the deal,” Continued On Page 7
Jill Johnson VanKuren of MedStar Health System in Maryland will be the new president and CEO of Saratoga Hospital. She starts Sept. 19. Michael J. Toohey, Saratoga Hospital board of trustees chairperson, announced VanKuren’s appointment in July, citing her 17 years of experience with the largest integrated healthcare system in the Baltimore-Washington metropolitan area. VanKuren succeeds Angelo Calbone, who will retire in August after 16 years of significant investment in programs, facilities and talent. He is credited with leading the transformation of the hospital and healthcare in the Saratoga region. Most recently, VanKuren served as senior vice president of operations and chief operating officer at MedStar Franklin Square Medical Center, one of 10 MedStar hospitals. “From her first interview, Jill impressed us with her understanding of the vital role of a community hospital in a larger health system,” Toohey said. “She shares our commitment to maintaining Saratoga Hospital’s reputation for exceptional quality and personal attention while bringing the benefits of the Albany Med Health System to our patients and community.” “I have a deep respect for the community and the culture that the people of Saratoga Hospital have
Jill Johnson VanKuren will be the new president and CEO of Saratoga Hospital. Photo is Courtesy Saratoga Hospital
built over the years,” VanKuren said. “I look forward to building on that strong foundation as we evolve to support the future needs of the community. I am honored to have been selected to lead this team.” At MedStar, VanKuren held leadership positions at both the corporate and hospital levels for a system Continued On Page 20