Tax Policy, Chips, Jobs Fuel Optimism At Saratoga County Economic Outlook 2026
BY PAUL POST
Federal tax refunds from President Trump’s One Big Beautiful Bill are expected to be $150 billion higher this spring, helping all kinds of business as people purchase everything from lawn tractors to new homes.
That’s what keynote speaker Robert Doll said during a recent 2026 Economic Outlook program hosted by Saratoga County Chamber of Commerce at the Excelsior Springs Event Center with more than 100 attendees on hand.
The bill, which the president signed into law last July 4, includes tax deductions for tips, overtime pay, auto loans, and creates Trump accounts allowing parents to create tax-deferred accounts for their children, all set to expire in 2028.
“That’s real money and creates a tailwind for consumption,” said Doll, CEO of Houston-based
Crossmark Global Investments. “The economy is improving. Economic growth in the United States in 2026 will be 50 basis points higher than it was in 2025 and there’s nothing embarrassing about 2025.”
“We are using the phrase high-risk bull market to describe where we think we are,” he said. “The bull market part says the path of least resistance is up. The two conditions, in my judgment, for that to continue number one, are that earnings estimates keep drifting higher. That’s certainly been the case so far.”
“The second condition is the Fed, that it remains at worst neutral or constructively positive, meaning they talk about cutting rates, not raising rates,” Doll said. “Those two things have powered the market higher now for some time
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Thousands Attend Saratoga Chowderfest As Discover Saratoga Reveals 2026 Winners
Discover Saratoga announced the winners of the 27th Annual Saratoga Chowderfest, held Saturday, Feb. 7, 2026, from 11 a.m. to 4 p.m.
Thousands of attendees braved winter temperatures to sample a wide variety of chowders from participating vendors and vote for their favorites. Winners were recognized in eight categories during the annual awards ceremony at the Saratoga Springs Heritage Area Visitor Center.
The 2026 Chowderfest winners are:
• People’s Choice, 500 bowls or less: Artisanal Brew Works
• People’s Choice, 501–750 bowls: The Mill on Round Lake
• People’s Choice, 4,001-plus bowls: Druthers Brewing Company
Chowderfest highlights included:
• 88 vendors, including seven first-time participants
• More than 66,372 bowls of chowder served
• Attendance of approximately 20,000 people
Saratoga Casino Opens 85th Harness Racing Season With 150 Dates, $17M Purses
Saratoga Casino Hotel announced the return of live harness racing for its 85th season, which began Sunday, February 1. The 2026 schedule at the Spa Oval will consist of 150 racing programs running through mid-December, including several Saturday matinee race cards throughout the season.
Horsemen will compete for over $17 million in purses during the season. In addition, the track will host eight New York Sire Stakes programs featuring the best New York bred horses in the state racing for an additional $1.5 million in purses.
“I expect a very strong season of racing,” said Race Secretary Peter Iovino. “The horse population has been abundant the last few years and this gives us the ability to offer a high-quality product for our fans.”
Saratoga Casino’s premier event, the Joe Gerrity Jr. Memorial Invitational Pacing Series, will kick off on Saturday, July 11 with a new format better suited for local horsemen participation. This year, competitors will vie for points in the
$20,000 Invitational over seven consecutive Saturdays, with the top point earners advancing to the $100,000 final on Saturday, August 29. Total purses for the Gerrity Invitational series are $240,000.
Defending their 2025 titles this season are leading trainer Melissa Beckwith and top driver Jim Devaux. Beckwith trained 174 winners in 2025, while Devaux crossed the finish line first 288 times last year.
Saratoga Casino will partner with the Saratoga Harness Horsepersons Association to offer some exciting promotions in the month of February. Highlights include a long-sleeve shirt giveaway to the first 400 customers on Saturday, February 14. Other promotions include a wheel spin drawing on Saturday, February 7 and Sunday, February 15, where all customers in attendance can enter for a chance to spin the prize wheel to win a $25-$100 free bet. One winner will be selected after races two through ten. This season will also feature an expanded
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First New York Federal Credit Union Announces New President And CEO
First New York Federal Credit Union is pleased to announce the appointment of Vik Muktavaram as its next President and CEO.
Muktavaram, the ninth chief executive in the credit union’s 88-year history, joins First New York following the planned retirement of current President and CEO Lucy Halstead.
Muktavaram is currently the Executive Vice President & Chief Financial Officer at Sunmark Credit Union. He joined Sunmark as the Chief Risk Officer in 2022 and was named Interim Chief Financial Officer in 2024. Prior to joining Sunmark, he was a Principal with Satori Consulting, a New York City-based management consulting firm. Before that, he served as Chief Risk Officer for Old Mutual Bermuda, an investment management company, and spent over a decade in management consulting.
“Vik’s range of experience and commitment to the credit union movement stood out during our search process,” said Brian Krawiecki, Chair of First New York’s Board of Directors. “First New York has a great team, and we are excited to bring Vik on board as their new leader.”
For more information, visit DiscoverSaratoga. org.
“Chowderfest continues to be one of Saratoga’s most anticipated winter traditions,” said Darryl Leggieri, president of Discover Saratoga. “Year after year, it’s incredible to see our downtown filled with energy during the winter months. From the creativity of our local restaurants to the dedication of our volunteers and city partners, this event truly showcases the spirit of Saratoga.”
Muktavaram earned an MBA from Columbia Business School, a master’s degree in
and
computer science from Oklahoma State University,
a bachelor’s in chemical engineering from Osmania University.
Thousands sample chowder during Saratoga’s 27th annual Chowderfest.
Courtesy Discover Saratoga
Vik Muktavaram will become next president and CEO of First New York Federal Credit Union.
Courtesy First New York Federal Credit Union
Harness racing returns to Saratoga Casino for its 85th season with 150 race dates and more than $17 million in purses, which began Feb. 1 at the Spa Oval.
Courtesy Saratoga Casino
Ben Chuckrow (right), Stifel senior vice president, investments and branch manager, discusses local and national trends during a 2026 Economic Outlook as Charles Wait Jr (left) and Dave DeMarco (center) look on. Paul Post photo
New Mentorship Program Aims To Strengthen Local Small Businesses
The Innovation Center at Saratoga Announces “Entrepreneurship is Everyone’s Business”
New multi-phase program designed to strengthen local small businesses with mentorship that extends beyond the classroom
The Innovation Center at Saratoga Inc. announced the launch of “Entrepreneurship is Everyone’s Business,” an entrepreneurship program designed to strengthen the local economy by helping small businesses start, grow and succeed.
The program is supported by NBT Bank and Phillips Lytle LLP, with partnerships including SUNY Adirondack, Saratoga Arts and SCORE.
“One of the great strengths of any community is the success of its small businesses,” said Beth Moeller, founder of the Innovation Center at Saratoga. “This program is designed to support the businesses that shape our region’s identity and vitality — the local shops, restaurants, consultancies and creative makers and artists that make our community special.”
Entrepreneurship is Everyone’s Business is tailored to support Main Street, hospitality, business consultancies and creatives, including visual artists, photographers, jewelry designers and more. Other business types are welcome, and the program is open to both not-yet-open ventures and early-stage businesses seeking to improve and grow.
A Unique Approach: Four Phases covering Learning, Mentorship, Pitching and Long-Term Support
New Board Members
Donovan and Hall
Southern Adirondack Independent Living has appointed Dianne Donovan and Sarah J. Hall to its board of directors and approved leadership title updates.
Donovan brings nursing experience as a registered professional nurse and former licensed
Saratoga Casino
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wagering menu that includes two Pick 5s with carryovers, two Pick 4s with carryovers, $1 minimum wager, 20-cent superfectas and $1 triples in every race, plus a $3 minimum late daily double.
Throughout the season, SaratogaBets account holders can earn up to a 10% bonus on winning wagers on Saratoga Harness races
Unlike a traditional business boot camp, the Innovation Center at Saratoga emphasizes continued coaching, mentorship and community accountability over time. The program is structured in four phases.
Learn (February through April) includes six core business classes and two elective tracks of three classes each.
Guide (May) pairs participants with mentors from SCORE or Saratoga Arts to refine business plans and models, with Ask Me Anything sessions held in conjunction with SUNY Adirondack.
Pitch (June) allows participants to present finalized business plans and concepts to regional funding sources, including banks, development groups and government agencies.
Support (July through December) focuses on peer-to-peer support networks and culminates in Everyone’s Business Demo Day.
“What sets this program apart is that we don’t just teach you and send you off,” Moeller said. “We pair participants with mentors, bring them together with other entrepreneurs and stay with them for the full year.”
Program details and registration information are available at innovationcentersaratoga.org/entrepreneur.
The Innovation Center at Saratoga Inc. is a nonprofit 501(c)(3) collaborative maker space where artists, entrepreneurs and community members come together to learn, create and innovate.
practical nurse. Hall joins the board with a background in care management and clinical case management.
At its Jan. 20, 2026, meeting, the board also updated leadership titles, naming Tyler M. Whitney president and chief executive officer and updating board leadership titles to chairperson and vice chairperson.
SAIL provides nonresidential services supporting independence for people with disabilities across the North Country and Capital Region.
while wagering on property via the SaratogaBets mobile app or at any self-service betting terminal.
The winter, spring and fall schedule will include matinee racing on Saturdays, Sundays, Mondays and select Tuesdays, with a 12:00 p.m. post time. The summer live racing schedule will be Mondays and Tuesdays at 12:00 p.m., along with Saturday evening programs beginning at 6:45 p.m.
For Track Announcer Mike Sardella’s race picks, racing recaps and the full live race schedule, visit www.saratogacasino.com.
Former SUNY Adirondack President Kristine Duff y, Ed. D. Joins Behan Communications
Behan Communications announced that Kristine D. Duff y, Ed.D., former president of SUNY Adirondack, has joined the fi rm. Duff y will work with crisis communications and public affairs clients and assist with business development.
Duff y served as president of SUNY Adirondack for 12 years, retiring in 2025 as the second-longest-serving president in the college’s history. During her tenure, the multicampus community college served approximately 6,000 students annually with a $31 million operating budget and 385 employees. Under her leadership, graduation rates increased by more than 12 percent, more than $50 million was invested in capital improvements, and workforce-focused degree and short-term training programs were expanded. She also secured millions of dollars in grant funding to support equipment, classrooms, and student success initiatives.
“We are thrilled to have Dr. Duff y on our team,” said Ryan Moore, president and CEO of Behan Communications. “Her leadership experience in higher education, workforce development, and economic development will be an asset to our clients.”
Mark Behan, chairman and founder, said Duff y’s career has been defi ned by relationship-building and community impact across the region.
Duff y holds a doctorate in executive leadership from St. John Fisher University, a mas-
ter’s degree from Russell Sage College, and a bachelor’s degree from SUNY Brockport. Founded in 1988, Behan Communications provides strategic counsel in public relations, crisis communications, public affairs, and corporate communications to clients nationwide.
Franklin Community Center Welcomes New Directors, Recognizes Board Leadership
At its recent board meeting, Franklin Community Center (FCC) proudly voted to welcome two new members to its Board of Directors. For more than 40 years, FCC has been an active force in Saratoga County, dedicated to helping to improve the quality of life in our community and to bridge gaps in community needs by providing support, services, and resources that ensure core needs are met.
FCC is pleased to welcome Cliff VanWagner, a long-time volunteer and dedicated community member. Cliff spent his professional career at The Wesley Community, where he served as a licensed pharmacist and later advanced to Director of Pharmacy, a role he held until his retirement in spring 2025. Among his many accomplishments, Cliff led the design and implementation of a drug distribution system serving more than 350 residents. Beyond his professional work, Cliff remains deeply engaged in the community, supporting fundraising efforts for the Saratoga Springs Police Department Canine Unit, Saratoga Springs Lions Club Foundation, and Leadership Saratoga.
“After spending the last 10 years working with FCC to assist with the food pantry expansion and fundraising for the new building, I am honored and humbled to join the Board,” said VanWagner. “My goal is to help further FCC’s mission of breaking the cycle of poverty and ensuring its continued success.”
FCC also warmly welcomes Christine Hogan Barton to the Board of Directors. An Associate Real Estate Broker at Roohan Realty, Christine has long been involved in the Saratoga Springs community through her support of events such as the North Country Festival of Trees, Touch-A-Truck, and recreational sports programs within the Saratoga Springs School District.
“My board membership is deeply meaningful because it allows me to be part of a collaborative team making a difference where it matters most—right here in our local community,” said Hogan Barton. “It is a privilege I truly value.”
In addition, FCC extends heartfelt gratitude to Zackary Manz, recent past president, whose 10-year term concluded at the November 2025 board meeting. Zack’s leadership, thoughtful approach to complex conversations, and strategic vision left a lasting impact on the organization. While his contributions will be greatly missed, his warmth and positivity will be remembered most fondly. The staff and board wish Zack all the best and hope he enjoys time with his family—while keeping the door open for a future return.
For more information regarding the program and services of Franklin Community Center, please visit our website at www. franklincommunitycenter.org.
Kristine D. Duffy, Ed.D., former SUNY Adirondack president, joined Behan Communications. Courtesy Behan Communications
ADKtechs Trades Volume For Strategy Relocates Headquarters To Fuel Growths
BY ANN DONNELLY
For Jared Humiston, the journey from a rented apartment in Argyle to the cutting edge of the regional tech industry has been defined by a single, unwavering mission: to make technology work for the client.
As Adirondack Technical Solutions — known more commonly as ADKtechs — marks its 20th anniversary, the company is preparing for its most significant transformation yet. On March 1, the firm will relocate its headquarters from its longtime home in Washington County to the new Moreau Commons, a strategic move designed to fuel the next decade of growth.
The company’s origins are humble, born from a conversation between a landlord and a tenant. Humiston, now President and CEO, recalls that “literally how we started was with one customer, who was looking for consistent support services.”
“It started as kind of like a side hustle, and then he told somebody, then they told somebody,” Humiston said. Within four years, the business had scaled to 40 accounts through word-of-mouth referrals.
In those early days, the industry was tethered to hardware. “Most everything was built around hardware sales and physical on-premises solutions,” Humiston explained, noting that the company essentially built “small clouds” for individual firms, hosting their email and websites locally.
As technology evolved toward the cloud, Humiston recognized that the traditional managed service provider model was flawed. Instead of chasing volume, ADKtechs made the bold decision to shrink its client base to grow its impact. Over the last four years, the firm strategically reduced its customer count from hundreds to just 50.
“I just didn’t feel comfortable with it,” Humiston said of the industry-standard model. “There was just too much chaos, and it was all reactive. We maintained and grew the revenue while significantly lowering the accounts that we manage.”
This shift allows ADKtechs to operate as a Virtual Chief Information Officer (vCIO) for its clients, focusing on strategy rather than just fixing broken laptops. “Our value is your uptime,” Humiston said. “If my team is at your place on the weekend or working through the night, you’re not able to take care of your customers.”
The upcoming move to the former Suzuki dealership site, which is now Moreau Commons, represents the fulfillment of a long-term vision. While Humiston was hesitant to leave Argyle, the lack of infrastructure—specifically, sewer and water limitations—made a multi-use expansion there impossible.
The new location places ADKtechs closer to the talent pools of Clifton Park and Saratoga County while remaining central to a client base that stretches the length of the East Coast.
“Sometimes you get to join a vision, sometimes you get to create a vision,” Humiston said. “In this case, we get to join Brian and Ben’s vision there [at Moreau Commons]. It puts us closer to
Jared Humiston, president and CEO of ADKtechs, leads the firm into its next growth phase.
Courtesy ADKtechs
hundreds of thousands more people.”
The facility will also offer conveniences for employees, such as an on-site barber shop, salon, and coffee shop. Humiston views these perks as essential for recruitment. “Time is a form of currency as well,” he noted.
The company’s culture is central to its success. ADKtechs provides 100% health benefits for employees and their families, unlimited time off, and quarterly profit sharing.
“We can’t have customers without great employees,” Humiston said, emphasizing that cultural fit is prioritized over technical expertise during hiring. “I will sacrifice nothing to sacrifice the culture that we’ve built, the peace that our team has.”
This investment has resulted in an exceptionally quiet help desk. At the end of last year, the company managed over 2,000 endpoints with only a single ticket in the queue.
While ADKtechs serves diverse sectors like healthcare and finance, its largest vertical is construction. Humiston takes pride in reframing technology from an overhead expense to a valuable tool for “blue-collar” businesses.
“Technology really should enhance your business. It shouldn’t be a crutch,” Humiston says. By moving blueprints and payroll to the cloud, construction firms can take on more jobs and eliminate unnecessary travel.
As ADKtechs enters its third decade, the focus is now on guiding clients through the complexities of artificial intelligence.
“AI is going to be that driver,” Humiston said. “We’re not trying to slow your progress; we’re trying to guide your progress and make sure you’re not opening yourself up to some things out there that you may not be aware of.”
For more information about ADKtechs, visit their website at adktechs.com.
Management Training Program Returns To Strengthen Regional Leadership Pipeline
The Saratoga County Chamber of Commerce, in partnership with Empire State University, announced the return of its Saratoga County Institute of Management program.
Designed for emerging or new managers, SCIM provides essential skills and strategies needed to thrive in a dynamic workplace.
The program is organized into two six-week tracks meant to rapidly enhance skill sets and complement each other.
Track One focuses on foundational skills for new and emerging managers, including selfawareness, communication, conflict resolution and leadership strategies to help them transition from individual contributors to effective team leaders.
Track Two centers on advanced managerial competencies — such as talent recruitment and retention, performance management, strategic planning, leading change and financial acumen — to expand participants’ strategic impact and organizational leadership.
Participants may enroll in one or both tracks, as Track One is not a prerequisite for Track Two.
The SCIM program was initiated as a pilot before the COVID-19 pandemic and relaunched in 2025. The original program was also a collaboration between the Saratoga County Chamber of Commerce and then Empire State College and was funded with financial support from the Saratoga County Capital Resources Corporation.
“The Saratoga County Institute of Management underscores our dedication to developing strong leadership across every sector of our economy,” said Todd Shimkus, president of the Saratoga County Chamber of Commerce. “SCIM offers local organizations a powerful opportunity to invest in their most valuable resource — their people.”
The Chamber thanked Empire State University for partnering to present the program.
“Empire State University is proud to support the SCIM program and its mission to develop emerging leaders across our region,” Empire
State University President Lisa Vollendorf said. “This initiative strengthens the leadership pipeline in ways that benefit our entire community.” By enrolling in SCIM, participants gain access to a network of fellow leaders and regionally recognized subject matter experts. The program enhances management capabilities, strengthens retention and demonstrates an organization’s commitment to talent development.
Past participants report transformational growth. “I found the SCIM program to be incredibly valuable, offering me new perspectives and tools,” said E. Bradley Feiden Jr., operations manager of Earl B. Feiden Appliance. “The connections I made with other emerging leaders and area business experts were also impactful.”
Employers see the value as well. “SCIM provides us with the opportunity to identify, invest in, elevate and honor our existing and emerging leaders who are the future of The Wesley Community,” said Shelly Amato, chief strategy officer of The Wesley Community. “Because the SCIM program is offered at scale, we can offer, and have offered, our team members the opportunity to participate in this outstanding program, ensuring the legacy of strong leadership at The Wesley Community for many years to come.”
Enrollment is open, with each track priced at $945 per employee for Chamber members and $1,395 for nonmembers. Scholarships are available to support small businesses and impact sector organizations. Class size is limited to ensure a personalized experience.
For more information or to register, visit www.saratoga.org/scim.
About the Saratoga County Chamber of Commerce: Since 1918, the Saratoga County Chamber of Commerce has been opening doors and closing deals for businesses throughout the Saratoga County community. Guided by a sustainable vision, the Chamber works to maintain a healthy business climate, initiate constructive community action and create a community where all can thrive.
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New Upper Glen Street Showroom Focuses On Custom Design And Energy Efficiency
BY CAROL ANN CONOVER
Homeowners looking for personalized design guidance rather than off-the-shelf solutions now have a new local option with the opening of a collaborative home design and improvement showroom on Upper Glen Street.
Tim and Michelle Schultz are launching a multi-brand showroom at 704 Upper Glen St. that brings together custom window treatments, interior design services and energyefficient replacement windows and doors. The space unites Gotcha Covered of Saratoga, Designs on Glen and Window Depot of the Adirondacks, offering what the owners describe as a consultative, one-on-one alternative to the stock selections and self-guided experience typical of big-box retailers.
where visitors can see and feel fabrics, operate motorized window treatments and compare window and door systems firsthand. The location sits across from Mohan’s on Upper Glen Street, an area that continues to grow as a destination for home improvement-related businesses.
“We wanted to eliminate the disconnect that often exists between function and design,” Tim Schultz said. “If a client is updating their interior but their windows are outdated or inefficient, it makes sense to address everything together. This allows us to do that in a seamless way.”
9 Broad St. Glens Falls, NY 12803 (518) 581-0600 • Fax: (518) 430-3020 • www.saratogabusinessjournal.com
Susan Campbell Lee Coleman Carol Ann Conover Ann Donnelly 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, 9 Broad St. #7, Glens Falls, NY 12801 (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 exort 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.
The concept is designed to help homeowners make cohesive decisions that balance aesthetics, performance and budget, rather than purchasing products in isolation. Clients can work directly with experienced professionals to evaluate everything from fabric and light control to insulation value and window performance.
“We’re really focused on the personal side of design,” Tim Schultz said. “Big-box stores serve a purpose, but many homeowners want guidance tailored to their space, their home and how they live. That’s what we’re providing here.”
Michelle Schultz brings extensive design and industry experience to the showroom. She previously owned a tile and marble design studio in Clifton Park and later served as a district sales manager for Hunter Douglas, working with dealers across multiple states. Her background allows her to guide clients through complex interior decisions, helping them understand how materials, textures and window solutions interact within a space.
Tim Schultz, owner of Window Depot of the Adirondacks, spent more than 25 years in technology sales before transitioning into home improvement. He said that consultative approach carries over naturally into helping homeowners assess window and door options, particularly as energy efficiency becomes a growing concern for older homes common throughout the region.
The showroom features interactive displays
While the core focus remains residential clients in the Saratoga, Lake George and Glens Falls areas, the businesses also work with commercial customers, including hospitality properties. Installation services are handled through a combination of in-house expertise and local subcontractors, reinforcing the owners’ commitment to working with regional partners. In 2025, Gotcha Covered completed installations for several hospitality properties, and the expanded offerings open the door to partnerships with contractors, architects and local municipalities pursuing energy-efficiency upgrades.
The Schultzes see the showroom as both a retail space and a community resource, where homeowners can explore ideas, ask questions and make informed decisions without pressure.
As the business grows, Schultz said the companies anticipate expanding staff to support showroom operations and installation services, further strengthening their role as a local asset for homeowners seeking hands-on design insight.
“Our goal is to be a trusted local partner,” Schultz said. “We’re not trying to sell a single product. We’re helping people make smart, lasting improvements to their homes. People should feel comfortable coming in, asking questions and exploring ideas without feeling pushed into a standard solution.”
A ribbon-cutting ceremony and community open house are planned for mid-January.
For more information, visit www. gotchacovered.com/saratoga, www.designsonglen.com or www.windowdepotadirondacks.com.
Tim and Michelle Schultz with Sarah Walsh at the new multibrand showroom on Upper Glen Street.
Glens Falls Business Journal
Hospitality Industry Enters 2026 On Stable Ground With Measured Growth Ahead
MITCHELL B. MUROFF, ESQ. FOUNDER, MUROFF HOSPITALITY GROUP
As we look ahead to 2026, the hospitality industry enters the year on far more stable footing than many anticipated just a few years ago. While 2025 was marked by moderation rather than acceleration, it ultimately proved to be a year of normalization—one that set the stage for measured, sustainable growth rather than speculative excess.
Nationally, 2025 saw travel demand remain resilient despite higher interest rates, inflationary pressures, and continued labor challenges. Leisure travel continued to outperform expectations, particularly in drive-to markets and experience-based destinations. According to STR data, a CoStar company, occupancy stabilized across most U.S. markets, average daily rates held firm, and revenue per available room posted modest but consistent gains. Importantly, hotel fundamentals remained strong even as transaction volume slowed, reflecting a market adjusting to higher capital costs rather than weaker demand.
As we move into 2026, national forecasts from major hospitality analysts such as CBRE and JLL point to continued incremental growth rather than dramatic swings. New hotel supply remains constrained due to elevated construction costs and financing hurdles, which is expected to support pricing power for existing assets. At the same time, easing inflation and the potential for lower interest rates later in the year could help unlock transaction activity that has been sidelined since mid-2023. Investors are increasingly focused on well-located, operationally sound assets with clear paths to efficiency and modest value-add, rather than large-scale redevelopment or speculative growth.
For the Northeast—particularly New York and New England—the outlook for 2026 is especially encouraging. The region benefits from a dense population base, strong seasonal tourism, and a growing preference for regional travel over long-haul destinations. Unlike gateway cities that rely heavily on international travel or large convention demand, many Northeast markets are driven by leisure travelers, outdoor recreation, weddings and events, and repeat visitation—segments that have proven durable through multiple economic cycles.
In Upstate New York and across the broader Northeast, we continue to see strength in select-service and economy-branded hotels, as well as independent properties that cater to experiential travel. These assets tend to perform well in uncertain economic environments because they appeal to value-conscious travelers while still capturing strong seasonal demand. Branded select-service hotels benefit from loyalty programs and centralized marketing, while independent operators who actively manage expenses and guest experience can outperform expectations, particularly in tourist-driven markets. Other industry observers, including HVS, have similarly noted the resilience of leisure-oriented regional markets and well-located select-service hotels relative to convention- and gateway-dependent assets.
Nowhere is this more evident than in the Capital Region, Saratoga, Glens Falls, and the greater Adirondack and Lake George markets. These areas are fundamentally leisure-oriented destinations, supported by outdoor recreation, cultural attractions, seasonal events,
and a steady flow of regional visitors from New York City, New Jersey, Montreal, and New England. Unlike urban markets dependent on corporate travel or convention business, these regions benefit from diversified demand drivers that are less sensitive to economic volatility.
Lake George and the Adirondacks, in particular, continue to attract buyers and operators focused on long-term ownership rather than short-term yield. Many properties in these markets are family-owned, independent hotels that have operated successfully for decades. As generational ownership transitions continue, 2026 is likely to bring increased listing activity, particularly among owners who weathered the post-pandemic recovery and now see an opportunity to capitalize on stabilized earnings. Buyers, meanwhile, remain active—especially owner-operators and regional investors seeking lifestyle assets with strong seasonal cash flow.
Saratoga Springs and the surrounding Capital Region benefit from a slightly different but complementary dynamic. Events such as the Saratoga Race Course season, regional colleges, medical institutions, and state government activity provide a blend of leisure and weekday demand that supports year-round operations. Select-service hotels in these markets continue to perform well, and investors remain attracted to assets that combine predictable demand with manageable operating complexity.
Looking ahead to 2026, the key themes shaping the hospitality outlook are discipline, adaptability, and local market knowledge. Rising operating costs and labor challenges are not disappearing overnight, but experienced operators are learning to manage them more effectively. Technology adoption, smarter staffi ng models, and selective capital improvements are helping hotels protect margins without sacrificing guest experience.
In summary, 2026 is shaping up to be a year of opportunity for the hospitality industry—particularly in leisure-driven, regional markets like those served by the Saratoga and Glens Falls Business Journals. While the era of easy money is behind us, the fundamentals of travel demand remain strong. For owners, investors, and operators who understand their markets and manage with discipline, the year ahead offers stability, selective growth, and renewed confidence in the long-term value of hospitality real estate.
Southern Adirondack Independent Living Expands With New Albany County Office
Southern Adirondack Independent Living announced the expansion of its services in the Capital Region with the opening of a new Albany County office at 1873 Western Ave., strengthening the organization’s presence across New York’s North Country and Capital Region.
Founded in Glens Falls in 1988, SAIL serves 17 counties, providing support that empowers people with disabilities and older adults to live independently in their communities. The Albany office follows SAIL’s award of the Capital Region contract for the Regional Resource Development Center for the Nursing Home Transition and Diversion
Waiver and Traumatic Brain Injury Waiver, contracts the organization also holds in the Adirondack Region.
“This expansion builds on the work we’ve been doing in the North Country and allows us to reach more people across the Capital Region who want to live independently,” said Tyler Whitney, executive director of SAIL. “Our focus is on removing barriers and providing the supports people need to live with dignity and choice.”
The Albany County office is SAIL’s fourth location, joining its main campus in Queensbury and regional offices in Saratoga Springs and Plattsburgh.
Southern Adirondack Independent Living has opened a new Albany County office at 1873 Western Ave., expanding services in the Capital Region and strengthening support for independent living across 17 counties.
Mitchell B. Muroff says 2026 brings stability and selective growth for regional hospitality markets.
Courtesy Muroff Hospitality
Why More Small Businesses Are Turning To Fractional HR For Compliance And Growth
BY ANN DONNELLY
For small business owners, the “to-do” list is often a mountain that never levels off .
Between managing growth and daily operations, the complex world of human resources—compliance, payroll, and employee relations—can quickly become a liability rather than an asset.
Jennifer Barry, J.D., HR Consultant Practice Leader at GTM Payroll & HR, says businesses don’t have to choose between a heft y salary and a “recipe for disaster”.
“Asking non-HR staff to take on these duties is risky,” Barry said. “You may alienate the employee, you may lose them, and frankly, they may just get it wrong. Many HR areas require strict compliance, and there is no room for error”.
Fractional HR is emerging as a major tool for smaller businesses or startups operating on a lean staffi ng budget. The concept is simple: instead of hiring a full-time midlevel HR professional at an average salary of $80,000 per year, a company can hire a highly experienced consultant for 10 to 12 hours per week, only when needed.
“Consultants can often do in 10 hours per week what a full-time employee can do,” Barry noted. “Because they aren’t ingrained in the organization or distracted by day-today office operations, they work with a level of efficiency that is hard to match internally”.
At GTM, the consulting team functions like a “Halls of Justice,” providing clients with access to a “superhero” on call. These generalists bring up to 30 years of experience to the table, supported by a network of specialists in areas like employment law, training, handbook development, and benefits.
For many owners, the sign that it is time to look outward is a simple lack of “peace of mind”. Barry suggests owners ask themselves: What am I doing that I don’t like? What is taking too much time? Where do I lack the knowledge to proceed?
“When a business grows beyond the abilities of the owner, or hits that 20-employee mark, it’s time to seek professional help,” Barry said.
Even organizations with dedicated HR staff may need outside counsel. External consultants provide a neutral, objective view that is critical during sensitive investigations, such as harassment complaints, where in-house staff may lack specific experience.
The HR landscape is shift ing rapidly. Today, HR is fi nally gaining a “seat at the strategic table” as C-suite executives begin to prioritize work-life balance. However, this new seat comes with new challenges, particularly in managing a multi-generational workforce spanning five to six generations.
“Because of generational diversity, it is impossible to have a single strategy for recruiting and retaining talent,” says Barry. “We are seeing young people managing
Continued On Page 7
BY CAROL ANN CONOVER
Tim McNeil’s path to running a staffing company that recruits exclusively from Latin America began with clients who needed support staff but found domestic hiring challenging.
McNeil and his business partner Rob Rogers own GSD Staffing, a company that places workers from El Salvador, Guatemala, Honduras, Nicaragua and Belize with U.S. businesses seeking to fi ll behind-the-scenes roles at rates well below domestic labor costs. The partners operate from a coworking space in Saratoga and work remotely from their homes in Queensbury and Charlton.
The business emerged from the partners’ other company, OSR Manage, which provides fractional sales management services to IT companies across North America. When clients began requesting appointment setters and marketing support but expressed concerns about salary expectations, McNeil and Rogers redirected their existing recruiter to source candidates from Latin America.
What started as a solution for a handful of clients has evolved into a business model the partners believe could eventually become their primary focus. GSD Staffing currently employs about 30 people and aims to double that number by year’s end.
“We got those first 30 kind of by accident,” McNeil said. “We’ve got the marketing engine going now.”
The company charges clients between $2,500 and $3,000 monthly per placement, a significant discount compared to domestic salaries. McNeil attributes rising wage pressures to the pandemic’s aftermath, saying some positions have jumped from $45,000 annually to $65,000. GSD Staffing serves as the employer of record, handling payroll, taxes and compliance with labor laws in each country.
The workers themselves remain in their home countries, taking advantage of time zone proximity that McNeil describes as a key selling point over offshore alternatives in the Philippines or India. Depending on the season, workers in GSD’s recruiting markets operate in either Central or Mountain time zones, typically within one or two hours of their U.S. clients.
“Most of the countries that we recruit in, six months a year they’re Central time zone, six months of the year they’re Mountain Stan-
dard,” McNeil said. “They’re very close from a time zone standpoint.”
McNeil, 45, grew up in Rochester and played hockey at SUNY Plattsburgh before working as a recruiter in Connecticut’s insurance and financial planning sector. He met Rogers while both worked at an IT managed services provider in Hartford, where they eventually left to launch their own business with their former employer as their first client.
The partners emphasize cultural alignment as another advantage of their Latin American focus. McNeil noted many candidates vacation in the U.S. and have family connections here. One employee spent two weeks in Connecticut over the holidays despite living in Guatemala.
GSD Staffing has placed workers in roles ranging from virtual assistants to marketing associates, operations support and its first technical position, which started this week. One Chicago-based client employs a worker whose primary responsibility is managing the owner’s inbox for nearly eight hours daily.
The model presents distinct cost advantages for client companies who wish to opt out of domestic hiring to save on employment liability. Workers placed through GSD are employed by the staffing firm itself, not the client company, meaning clients avoid expenses beyond the monthly fee. Employees are not eligible for client company benefits such as 401(k) plans or profit-sharing programs.
“Because the person is employed by GSD Staffing, they’re not eligible for that stuff,” McNeil explained.
The arrangement also sidesteps typical compensation packages. While McNeil said retirement planning carries less emphasis culturally in Latin America than in the U.S., the structure effectively allows client companies to reduce workforce-related expenses significantly.
GSD handles country-specific payment requirements, such as Guatemala’s 14-month pay structure and El Salvador’s 13-month system, which include mandatory mid-year and yearend bonuses. These costs are built into the company’s monthly client fees.
McNeil acknowledged the business emerged during a period when he says domestic salaries became difficult for some companies to manage. “We had a lot of people that wanted to work with us, but they just flat out couldn’t afford the
Continued On Page 7
Jennifer Barry of GTM Payroll & HR explains how fractional HR boosts compliance and growth.
What The Warren County Phishing Scam Can Teach Businesses About Security
Late last year, Warren County officials disclosed that more than $3 million was mistakenly sent from the Treasurer’s Office after staff fell victim to a phishing scam. Two routine wire payments believed to be legitimate vendor transactions were redirected to fraudulent accounts.
This was not a technical failure or a sophisticated cyberattack. It was a breakdown in how routine business decisions were made and verified.
That is what makes phishing so effective. It hides inside normal work.
How Phishing Gets Past Capable Teams
Modern phishing often does not look suspicious at first glance. Emails are designed to feel familiar, frequently appearing to come from known vendors, contractors or internal staff. Formatting looks correct, timing makes sense and the request fits neatly into an existing workflow.
Common examples include a request to update banking information, a revised invoice or a reminder that a payment needs to go out.
Add urgency, and the email blends into a busy inbox. Nothing about it feels dramatic. That is the core of social engineering: getting people to act, not just to click.
Why Smaller Organizations Are Common Targets
Smaller organizations run lean by necessity. Fewer approval layers and handoffs mean fewer chances for someone to pause and ask whether something looks right.
Often, one person manages vendors, processes payments and approves changes. While efficient, that structure removes friction attackers actively look for.
The Warren County incident highlights a reality many organizations overlook. Email has quietly become part of the financial approval process, even though it was never designed to serve as a control mechanism.
Slowing Things Down Without Slowing Down the Business
Protecting against phishing does not require turning employees into security experts. It requires giving them permission and tools to pause.
One practical method is the GAUGES checklist, which helps employees quickly assess whether an email deserves closer attention by reviewing grammar, attachments and links, urgency, generic language, external senders and the accuracy of the sender’s address.
No single indicator confirms a phishing attempt. Patterns do. Teaching employees to slow down and apply this mental check often makes the difference between a close call and a costly mistake.
Why Awareness Training and Phishing Testing Matter
Many organizations invest in tools but underes-
timate training. When awareness training is inconsistent or outdated, employees default to routine, especially when an email looks familiar and fits into an established process.
That does not make people careless. It makes them human.
Effective awareness training and phishing testing rely on consistency. Short, regular sessions help build a culture of security, reinforce that verifying unusual requests is part of doing the job well and normalize reporting suspicious emails.
Organizations that skip training are not saving time or money. They are assuming risk that may not be recognized until it appears on a balance sheet.
Practical Protections That Fit Small Offices
Good security aligns with how work actually happens. Simple practices can significantly reduce risk, including verifying financial changes through a second communication channel, making it easy to report suspicious emails, reinforcing awareness regularly, documenting approval processes and practicing response plans through tabletop exercises.
A Local Reminder With Broad Relevance
The Warren County incident is a reminder that cybersecurity problems often begin on ordinary days. There was no broken system, only a convincing email and a process that allowed it through.
For small organizations, the goal is not perfection but reducing exposure and catching issues before they escalate. That starts by recognizing phishing for what it is: a business risk hiding in plain sight.
Staffi ng
Continued From Page 6
domestic salary,” he said, pointing to what he describes as rapidly rising wage expectations in the post-pandemic economy.
The company has encountered minimal pushback to date about placing international workers in positions that might otherwise employ U.S. citizens. McNeil said GSD focuses on tasks he characterizes as “$20 or less an hour” work — administrative duties that business owners “don’t have time to do and don’t really want to do.”
“I am not crazy about people only going offshore, nearshore for employment or for employees,” McNeil said. “I don’t believe in that.”
The partners maintain their approach serves companies in different economic conditions. During growth periods, businesses can add project-based support without full-salary commitments. During downturns, when companies typically cut non-revenue-generating roles, GSD offers a lower-cost alternative to maintain necessary support functions.
“I feel like we’re positioned in a place where we can help the company that may be struggling but needs that person to get over the
GTM
Continued From Page 6
older employees and a workforce that speaks different ‘languages’.”
Flexibility remains the top demand, with employees seeking remote work options and non-traditional hours. Meanwhile, technology—specifically AI—is transforming recruitment. While AI is a powerful tool, Barry cautions that widespread distrust remains.
“AI must be used as a tool, not as the sole source of information or a replacement for a full role,” she said.
A significant current trend is the dramatic increase in benefits costs, which have soared by about 40% recently. Th is substantial jump necessitates a change in how the traditional
hump,” McNeil said.
GSD Staffing’s recruiting team of two works full-time to vet candidates, prioritizing cultural fit over specific skill sets. “Our belief pretty strongly is if you can find the right culture fit, you can train the rest,” McNeil said.
The company is launching a redesigned, SEO-optimized website in the first quarter and plans to attend more local and national events as it scales operations. While GSD’s current focus remains Latin American placements, the partners have capabilities to recruit domestically through their other business and may expand in that direction once the new website launches.
Currently, GSD’s client base consists primarily of IT companies, reflecting the partners’ industry background. However, McNeil said any business-to-business service company could potentially benefit from the model, including HR, payroll and financial planning firms.
The company name stands for “Get Stuff Done,” a reflection of McNeil and Rogers’ preference for self-directed employees who require minimal oversight.
“Rob and I are people that we just, we’ve always wanted to find a place that we don’t have to micromanage, that just kind of gets stuff done,” McNeil said.
For more information, visit gsdstaffing.com.
employer-employee relationship operates.
“Employers simply cannot absorb that much additional cost,” Barry explained. “As a result, employees are having to contribute more toward premiums or take on higher deductibles. We are all hoping these costs will eventually come down”.
When hiring an agency, Barry advises businesses to vet their flexibility and industry-specific knowledge. While an outside consultant may not initially be as “engaged” with a company’s culture as a full-time hire, a quality consultant will have a clear plan to learn that culture.
“You want to know how they will learn about your culture and what their availability looks like,” Barry said. “The goal is to fi nd an objective partner who provides the expertise you need, exactly when you need it”.
For more information on GTM Payroll & HR, visit gtm.com.
Construction Planning
The Crews At Munter Enterprises Staying Busy Working On A Variety Of Area Projects
of Adirondack Trust Co.’s Malta branch, where Munter Enterprises begins work in April with a new front entrance, drive-thru updates and timber frame details.
BY ROD BACON
The inclement weather much of the country has experienced this winter has been challenging for building contractors but they are continuing to move their projects forward.
Middle Grove-based Munter Enterprises, Inc. is no exception.
“Our people are tough and they’re holding their own,” said Vice President Mike Munter. “We’ve skipped a few days of concrete work here and there because we didn’t want to open up more ground for it to freeze so we’ve been timing that work. It’s slowing us down a bit but not stopping us.”
The company is moving ahead on projects started last spring and summer as well as working on new ones.
The steel is going up on Skyward Drive in the W.J. Grande Industrial Park for the 35,000-square-foot office/warehouse building for Ambrave Corp., a designer and manufacturer of advanced tactical gear for military special operations forces and law enforcement under the brand Direct Action and for outdoor enthusiasts under the brand Helikon-Tex. Completion of the $6.5 million building is scheduled for this summer.
The lot on which the building is sited is 10
acres, allowing for future expansion.
“The building is approved for up to 70,000 square feet and if they stay on their growth track they plan to build the addition within five years,” Munter said.
Also in the industrial park, Munter is building an 18,000-square-foot addition to Slack Chemicals’ existing 70,000-square-foot facility.
Headquartered in Carthage, N.Y., with facilities in Castorland and Saratoga Springs, the company produces ice melters, caustics/acids, and solvents/alcohols, as well as chemicals for swimming pools and waste water treatment, dairy, paper, industrial, plating, co-generation industrial, reagents, and food grade applications.
Steel is also going up on a 35,000-square-foot building for Fort Miller Precast in Greenwich.
The building will house three large cranes used to manufacture components for bridges, highways, walls, erosion control, ultra-high performance concrete (UHPC) structures and custom products. The estimated completion date is May of this year.
In Greenfield, Munter is in phase one of a two-phase rebuild of the center section of Stewart’s Shops’ food and ice cream production facil-
Continued On Page 9
Eastline Apartments Will Add 136 Units Of Housing And 8000 Sq. Ft. Of Commercial Space
BY SUSAN ELISE CAMPBELL
Sunrise Management & Consulting is wrapping up final details required by the Malta Planning Board to build a mixed-use building at the corner of Eastline Road and Route 67 in the Town of Malta, according to Jesse Holland, founder and president of Sunrise. The project will include 136 apartment units and approximately 8,000 square feet of commercial space.
The Sunrise team will also meet with a subcommittee of the Saratoga County Industrial Development Agency next month as the firm seeks tax incentives for several features that Holland believes will deliver financial benefits for both residents and the public.
“We are excited to be building this property, which will provide a number of public benefits to the community,” said Holland.
Passersby at the northeast corner of the intersection are accustomed to seeing an abandoned farmhouse on the otherwise undeveloped 11.7-acre parcel.
Holland said he was told the building was once a church and, prior to that, a schoolhouse. While it is a historic structure in decline, its future is now secure. The developer plans to relocate the building farther from the road, renovate, and maintain the building for future commercial use, according to Holland.
Moving the historic building opens up the intersection of Eastline Road and Route 67, allowing the state to build a roundabout to improve traffic flow. Road construction is scheduled for two to three years from now, well after the Eastline Apartments project is completed.
Construction may begin as early as April or May, with occupancy approximately 12 months later, Holland said.
The proposed new construction is “an Eshaped building with three wings, with the spine of the E facing Route 67,” he said. It will be three stories with 136 one- and two-bedroom units and is zoned for mixed use. Approximately 8,000 square feet on the first floor is designed for office and commercial use, but not retail.
“We don’t have tenants yet, but our focus is on local businesses,” Holland said. “West of Northway Exit 12, there are some large office buildings. If you’re a large franchise, you can pay the high rents, but it’s hard for local businesses to find affordable space.”
“There is a great traffic count on the route, which commercial tenants are looking for,” he said.
Holland also said the AMI, or area median income, is one factor used to determine whether apartment units qualify as affordable housing. Sunrise plans are for providing “good, solid workforce housing.”
“A couple, each making $40,000 a year, could afford one of these units at around $2,000 per month and not be rent-burdened,” he said. “We believe that is what is needed across the Capital Region, and that is why we think the Saratoga IDA will want to make sure this project happens.”
The cost of housing is on everyone’s mind right now. While many factors go into determining rents, Holland said Sunrise wants to create a property that is accessible to the middle class.
“Our goal is always a good product at a fair price,” Holland said.
Another public benefit of the project is that it will connect two water systems, which “solves a municipal water problem,” according to Holland
Sunrise has yet to finalize finishes and amenities for the apartments. Planned features include elevators, washer/dryer hookups, and an intercom system.
“Eastline Apartments will be a pet-welcoming community, such as we have at the Van Allen Apartments in North Greenbush, which won an award from the Humane Society,” Holland said. “We do not have breed restrictions. Instead, we interview the pet.”
The complex will also include a dog-washing station.
Sunrise Management & Consulting is one of approximately 500 firms nationwide recognized as an Accredited Management Organization® by the Institute of Real Estate Management.
“We strive for Class A service with a focus on the experience of our residents,” Holland said. “We want each resident to feel at home and part of a community. We plan resident events and are committed to responding quickly to maintenance issues.”
“Good service and professional management mean we are responsible housing providers who follow the law and take it seriously,” he said. “We know all the rules and actively stay in compliance with maintenance and inspections.” Holland said that when a Sunrise-managed apartment turns over, they perform a 40-item checklist before the next tenant moves in.
“It’s not just painting the walls and changing the locks, but checking that everything is working as it should,” he said.
Another benefit of adding Eastline Apartments to Sunrise’s property management portfolio is that it will result in 136 additional meals donated to the Regional Food Bank each month once the community is fully occupied.
When Sunrise purchased The Century House property, the company learned about a sustained giving program it had established: for every meal or overnight hotel stay, a meal would be donated to the Regional Food Bank. With Sunrise’s acquisition of The Comfort Inn, which the company renovated and rebranded as The Clocktower Hotel, Holland committed to carrying forward that legacy of giving.
Now that Sunrise has expanded the program to its multifamily portfolio—donating one meal for every month an apartment is rented—the firm has surpassed 70,000 meals donated.
“Our goal is to get to one million meals in the next ten years,” Holland said. Learn more at sunrisemc.com.
A rendering shows the overhaul
Hilltop Construction Builds On Strong Demand Across Residential, Commercial Markets
BY PAUL POST
Hilltop Construction Company started out as a one man operation – Tom Albrecht Sr. and a pickup truck.
Today his son, Tom Jr.; daughter, April; and her husband, Dan Washburn, are leading the Queensbury-based fi rm into a second half-century of business, with thriving activity in both the residential and commercial sectors.
“We work with about eight different architects,” Albrect Jr. said. “They all tell me they have plenty of work, at least 12 months of work in front of them. Th at means there’s work we haven’t even touched yet on the construction side of things. So the outlook is very, very healthy.”
Hilltop is marking its 50 anniversary this year, with plans for an official celebration in August. The company is headquartered in a handsome new building at 21 Casey Road, just north of Floyd Bennett Memorial Airport.
Tom Sr. and his wife, Cindy, founders of the company retired three years ago.
Most of Hilltop’s residential construction, which accounts for about 60 percent of the fi rm’s business, is driven by Metro New York residents building upscale second homes in the North Country. “We’re seeing more and more people using them year-round for summer and the ski season,” Albrecht Jr. said. “They don’t live here full time, but they use their house about half the time.”
Lakefront property on Lake George, Glen Lake, Brant Lake and Schroon Lake is in especially high demand. Quite often, clients raze older structures in order to build a dream home of their own.
“Prices have almost doubled in the past five years, since COVID, when people began moving up here and realized they could work remotely,” he said. “We have a client that bought property and a house to tear down on Lake George for $2.5 million a few years ago. Six months ago, their neighbor
paid $4.5 million. Th at’s just for the property.”
As demand has increased and availability of land has decreased, Hilltop is doing more projects on northern Lake George in places such as Huletts Landing, Gull Bay and Ticonderoga.
“Everybody’s kind of looking for that Adirondack style,” Albrecht Jr. said. “Some people still want a modern design with an Adirondack twist. Everybody’s kind of got a unique thing. It’s not like there’s an industry standard for lakefront houses, but everybody wants the Adirondack feel.”
Typically, new homes range from 2,500 to 3,500 square feet with an emphasis on energy efficiency.
“We just fi nished our fi rst passive-solar house up in the woods on Brant Lake,” Albrecht Jr. said. “It’s just now getting through the fi nal phases of passive-solar rating. There’s no propane. It’s all electric based, highly insulated.”
Soon, work is slated to begin on another passive house near Gore Mountain for clients from New Jersey. “Th at one will be geothermal, using the ground to heat and cool the house,” he said. “We’ve done a lot of geothermal work in the past 20 years so we’re very knowledgeable about it and can educate clients in that area.”
Hilltop’s longevity and solid reputation negate the need for marketing and advertising. “It’s really by the word-of-mouth of clientele we work for, who are telling other people about Hilltop,” Albrecht Jr. said. “Th is being our 50th year, it’s pretty much a track record of our history as a company. People want to hire companies that have been around for a long time.”
Both he and Washburn, his brother-inlaw, are trained in all aspects of the business, but for the most part Albrecht Jr. oversees residential projects while Washburn handles commercial work.
Hilltop has done a great deal of work for
Stewart’s Shops, either remodeling or building new stores at more than 100 locations for the Malta-based company.
“Th at has spun off into other gas stations for other clients,” Albrecht Jr. said.
One of the most recent jobs is a handsome new convenience store in Rexford, Saratoga County.
Plans are also in the works for another expansion at the Fun Spot amusement center in Queensbury, and a March groundbreaking is expected for a new Arrow Bank branch office in Ticonderoga.
“We’ve never had a slowdown,” Albrecht Jr. said.
He credits much of the fi rm’s success to his sister, April, who manages the office, handling a variety of duties such as payroll and billing. “If it wasn’t for her keeping us in check it would be very hard to keep this business going,” he said. “She worked under my mom (Cindy) and had a lot of grooming
Munter
Continued From Page 8
ity. The 30,000-square-foot project is expected to take two years.
Munter said they are about 60 percent through phase one, which will be finished in June. They will then start phase two, which will take the project into 2027.
Nearly completed is a new branch of the Hudson River Community Credit Union in Greenwich. The 2,500-square-foot building includes a drive-thru and state-of-the-art Interactive Teller Machines (ITMs).
“Because of the demographic of the area, which includes the Amish community, we have included a hitching post and water hydrant in the parking lot for the horses,” Munter said.
Also nearly completed is a 25,000-square-foot building for Polyset in Mechanicville that will house their research and development department. The company manufactures filtration adhesives, expansion joint systems, protective coatings, electronic potting compounds, and advanced materials for cationic chemistry solutions.
In April the company will start an extensive
so she can run things very successfully.”
Like many fi rms, Hilltop is constantly on the lookout for good, qualified employees. Th is year, for the fi rst time in three decades, it brought on five 18-year-olds recruited right out of high school.
They’re among the company’s 35 employees that keep things going smoothly, on time.
Another big challenge is the increasingly difficult process of obtaining approvals, especially in the North Country when dealing with the Adirondack Park Agency.
But Albrecht Jr. can’t help being optimistic about Hilltop’s future, based on its track record of success and demand for residential and commercial work.
“There’s defi nitely been an uptick in activity,” he said. “People wait for rates to hit their max. Once they start coming down, they jump into the market because they want to lock into rates. Th is area is very healthy.”
renovation of the Malta branch of the Adirondack Trust Company. According to Munter, half the building and the drive-thru will be demolished and a new layout will be constructed. Currently, the entrance is on the side of the building. The new configuration will move it to the front.
“The Phinney Design Group created the plan and it looks really sharp,” he said. “There are some timber frame elements that will tie it in with some of their other branches.”
In Glens Falls, Munter is in the permitting process for a $5.5 million overhaul of the Glens Falls YMCA. Plans call for approximately 80 percent of the facility to be upgraded. This will be done in stages so members can continue to utilize as many programs offered by the organization as possible during the renovation. Because of this, Munter estimated it may take a year to complete the work.
Saratoga Springs-based Paone Architecture, PC, did the design work for Ambrave Corp., Polyset, Hudson River Community Credit Union, Slack Chemicals, and the YMCA.
Munter Enterprises does all the concrete work, steel erection, and envelop installation on its projects. They subcontract things like plumbing, electrical, and HVAC to local craftsmen.
For more information about this company go to munterenterprises.com.
About 60 percent of Hilltop Construction Company’s business is from residential clients building upscale lakefront homes such as this one on Lake George.
Courtesy Hilltop Construction
Aleisia Kisel Launches Affirmed Accounting To Serve Small Businesses And Nonprofits
BY SUSAN ELISE CAMPBELL
Aleisia Kisel, CPA, has launched Affirmed Accounting & Consulting, LLC, focusing on the accounting needs of small businesses and non-profits.
Kisel has been in the accounting industry for 10 years, most recently with BST in Albany.
“I loved the work but wanted to create a culture of my own that I feel comfortable with,” she said.
She transitioned from the “big, corporate accounting practice” to start her own firm.
Kisel offers an “a la carte menu” of accounting services primarily to service-based businesses and not-for-profit organizations.
“But I don’t say ‘no’ to anybody,” she said. “I started as an auditor in the non-profit sector, then went into consulting, and continue to gravitate to non-profits because they are such good people.”
“I love giving back to the community, which was always a mantra on the Siena College campus,” she said.
Kisel received her CPA license in 2018.
“It was important to me to be a true professional in the field as a certified public accountant,” said Kisel. “It adds to our expertise and inspires client trust and confidence in our commitment.”
Her approach begins with a discovery call to identify “pain points” in the business, the “emergencies that need to be fixed right now,” she said. She then reviews the books to “see what is going right and what processes we can implement to make their life easier,” followed by cleanup and evaluation.
“Clients need to know exactly what should be done on a monthly basis to make sure the business runs efficiently so they can make solid financial decisions,” said Kisel. “Especially if you’re a small business owner, your financial decisions are affecting your personal finances as well.”
She described a client whose bookkeeping had fallen behind as tax season approached.
“I found that items hadn’t been categorized properly for four months, and now it was getting close to April 15th,” she said. “As much as some clients think their books are in order, you have to have clean records to turn over to your tax preparer.”
She recommends monthly cleanup rather than quarterly reviews to avoid larger issues.
“To a successful small business owner, it’s not just a job. It’s your heart and soul,” she said. “If it’s a passion to them, it’s important to me, too.”
“Communication these days is hard for people my age, and I don’t understand it,” she
said. “I just pick up the phone and say, let’s talk things through and figure it out.”
Her “audit approach” involves reviewing the full balance sheet, not just isolated issues.
“Is there debt, because we need to tie it to your mortgage statement. Are there fixed assets that need to be depreciated?” she said. “I may come in to fix one pain point, but I let my client know there are other best practices we should look at so everything is operating as smoothly as possible.”
Kisel said building the courage to start her business was her biggest challenge, supported by family, women-based marketing organizations and the Saratoga community.
“I have a great network of female mentors,” she said. “They have been great in advising me how to communicate what I want to do and also in finding clients and selling myself.”
The name Affirmed Accounting connects with her family and the thoroughbred racing community.
“Affirmed is the name of the horse who held the Triple Crown title from 1978 to 2015,” she said. “My Dad breeds thoroughbreds, and I purchased a portrait of Affirmed that hangs in his office.”
“I hope the name of my company shows people that they can trust me to be their partner in the success of their business,” said Kisel.
“In my former career, I just had to be myself and do the good work I do,” said Kisel.
“Now I have to prove myself.”
Learn more at affirmedaccounting.com.
Growth
Of Saratoga Springs Prompting Law Firms To Expand Their Presence In City
BY ROD BACON
Saratoga Springs is experiencing a significant increase in the number of law firms expanding their presence in the city.
Bond, Schoeneck & King PLLC is in the process of quadrupling their office space by moving from 258 Broadway, where they’ve been since 2017, into Congress Park Centre.
“It just made sense,” said Member Michael D. Billok, the resident attorney in that office, explaining why the firm opened its original Saratoga Springs location. “We had a lot of clients in and around the Saratoga area and north to Glens Falls, and its good to have an office where they can come and get personal counsel.”
He went on to say that during the past few years more attorneys from the Albany office were meeting with clients from the Saratoga area. He also noted that when they talk to attorneys interested in joining the firm many want to work in Saratoga Springs.
Tom Savino and Eric Simonds, associate brokers at CBRE Upstate NY, represented Congress Park Centre owner Manhattanbased Brause Realty Inc and JoAnn Potrzuski Cassidy, a licensed associate real estate broker at Julie & Co. Realty LLC represented the law firm.
The 11,000-square-foot space is being renovated by NLH Property Management Services, of Saratoga Springs. Occupancy is scheduled for late spring of this year.
Troy-based Madesign Architecture is designing the space.
Billok said the decision to move to a larger office is the direct result of the firm’s plans to recruit top legal talent. Some of the practice areas for which they are seeking attorneys include trusts and estates, environmental/land use, real estate litigation, and business tax policies.
“We’re open to speaking with anyone who is interested in joining our firm,” he said. “It’s one of those things that when we see good talent we’d like to grab them”
Bond, Schoeneck & King is a full-service law firm with more than 300 attorneys in 14 offices, 10 of which are in New York State. The others are in Florida, Kansas, Massachusetts, and New Jersey.
Another firm that has expanded into the Capital District is LippesMathias LLP. Headquartered in Buffalo, N.Y., it has 224 attorneys in 16 offices in the United States and one in Canada.
It established a presence in Albany in 2015 via a merger with Sheehan Greene Golderman and Jacques LLP. Started with 10 attorneys, that office has grown to 18 attorneys and 8
professional staff members.
“We have grown in the practice areas of trusts & estates, litigation, and financial restructuring & insolvency, among others,” said Managing Partner and Chairman Kevin J. Cross. “The firm has tripled its client base since opening this office.”
In 2023 they opened an office in Saratoga Springs when they partnered with Karl Sleight, who held several senior roles in state government before returning to private practice. He said the office has grown from two to five attorneys since 2023, with two staff members.
On January 1, 2025, Harris Beach PLLC combined with Murtha Cullina LLP to form Harris Beach Murtha in the Capital District, creating a firm with more than 250 attorneys practicing from 17 offices across four states. That year more than 40 attorneys were added in offices across the firm. Harris Beach had an established office in Saratoga Springs that relocated to a larger space in 2021.
“Our firm continues to experience explosive growth and we are positioned for continued growth across the firm,” said Mathew P. Barry, managing partner of the Capital District offices. “We are actively looking to grow in Saratoga County.”
Other law firms that have established a significant presence recently in Saratoga Springs include:
* Herzog Law Firm, which relocated to a larger office space at 60 Railroad Place in 2024.
* The Colwell Law Group, which opened an office at 18 Division Street in 2022.
Law firms expand offices at Congress Park Centre in Saratoga Springs. Saratoga Business Journal
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and are necessary conditions for things to repeat for a continued a bull market. The high-risk part says be careful. If one of those things comes unglued or something negative gets in the way, like we saw a year ago with tariffs, the high-risk part is engaged. Those things need to be watched carefully.”
His talk was followed by a panel discussion featuring local business and economic analysts –Adirondack Trust President and CEO Charles Wait Jr; Arrow Bank President and CEO Dave DeMarco;Ben Chuckrow, Stifel senior vice president, investments and branch manager; and Martin Shields, Bouchey Financial Group chief wealth advisor and shareholder.
Panelists concurred with Doll’s favorable economic projections, including Saratoga County and the greater Capital Region. “Tax refunds are truly going to have an impact on what we do as a community bank from auto sales, residential sales and local small business,” DeMarco said. Doing business in New York state is really challenging, yet despite that we continue to see new business opening.”
He specifically cited recent groundbreaking for a $100 million new Micron semiconductor plant near Syracuse, continued nanotech investments in Albany, and plans for a second GlobalFoundries plant in Malta as projects driving the upstate economy.
“That’s all building growth in the region,” DeMarco said.
Wait pointed out that diversity led by the technology, manufacturing and tourism/hospitality sectors give the region a resilient economic base. “We don’t experience the high highs, we also don’t experience the low lows,” he said. “Just maintaining that steady growth is one of the benefits we have in this area, which makes it such a great place to be.”
Wait said his optimism is also fueled by sales tax and hospitality numbers, which are on a growth trend. From 2022 to 2025, sales tax collections in the county increased 13 percent with a gain of roughly $20.8 million. This includes a 5.8 percent from 2024 to 2025 when collections totaled more than $181 million.
Likewise, lodging facilities say revenue per available room rose 18.1 percent the past four years, which includes a nearly 3 percent from 2024 ($137.53) to 2025 ($141.51). The supply of available rooms increased 5.2 percent the last two years with the opening of new hotels to keep pace with growing demand (4.3 percent).
Chuckrow said GlobalFoundries has already received $6.1 billion in federal funding, which will help with company’s proposed expansion plans in Malta. “They’re expected to hire 1000 to 1500 new employees over the next five to six years,” he said. “The construction jobs they’re projected to need to build out the new foundry or foundries is about 9000.”
“And as our need for chips as a result of AI, and GlobalFoundries being the largest pure chip manufacturing company in the United States, I can’t see how this area can’t grow; but also grow its tax base because employees coming to this area are going to be higher salaried employees,” he said. “We’re also going to have lots for kids graduating from our great local community colleges so I couldn’t be more optimistic about the growth of Saratoga.”
“Right now we are in a very, very good environment for the US economy,” Chuckrow said. “I don’t see anything, barring any exogenous event, that really should derail it.”
But he said AI is still an unknown quantity with regard to its impact on the economy, both nationally and locally.
“I remember the early Nineties when the Internet was first starting,” he said. “We didn’t know what it was going to do. The Internet, I believe, is what caused inflation to go negative, which is a really bad thing because if there’s no inflation and you need to buy something and you know the price is going to be cheaper tomorrow, you aren’t going to buy it.”
Similarly, Chuckrow believes AI will have the same kind of effect by making it much easier for people to compare prices and find the least expensive item almost instantaneously. “AI is going to bring down inflation the exact same way,” Chuckrow said. “I think it’s going to be both good and bad.”
“Certainly it’s (AI) becoming more and more a part of our business and will change the way not only our banks run, but a lot of other business,” DeMarco said.
In addition to Saratoga Springs’ extremely vibrant downtown, increasingly strong urban centers such as Troy, Schenectady and Glens Falls are fueling outward growth. “Everything flows from there,” he said.
The Capital Region’s median salary is the highest in upstate New York, he said, adding that “we have the highest level of college graduates compared to other upstate cities and much of the U.S.”
“If you’re going to start a business, tell me what country you’d rather be in than the United States,” Shields said. “We’ve got challenges, but it’s still the best place to start a business. I think that’s the case here as well. It’s really hard not to be positive about his area.”
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