In the KNOWSUMMER2022 A Quarterly Publication for Member Investors of the Sullivan County Partnership For Economic Development inFamiliesBusiness • What Makes Them Last? • The Prospects for the Future • The Challenges They Face
This month, we’re proud to welcome 11 new investors into the Partnership. We’re grateful for their commitment to continued economic growth here in Sullivan County. And to those of you who’ve been with us, whether very recently, or for many years— thank you for your continued support and belief in the Partnership, and in each other.
Enjoy this issue and enjoy your summer. If you have story suggestions for future issues, or would like to contribute a story, please let us know. We’re here to serve you.
This of course is great news. At the core of our communities, generational businesses that do their work— day-to-day, year-to-year and generation-to-generation— provide investment, jobs, and a pillar around which our communities thrive. They are family run businesses and their importance to our overall economic development health is profound. They provide 83 million jobs across the country, contribute $7.7 trillion to our economy, and show higher profitability overall. Yet only 30% of family-owned businesses pass to the second generation with one-third of those succeeding to the third generation.
As summer arrives and temperatures begin to heat up, the Partnership is excited about the turnaround of the county’s economy and the many opportunities poised to keep our area growing. For two consecutive months we’ve exhibited the fastest job growth in the State and there are more companies and developers seeking project approval now than at any time during our history. Every step of the way, we’re working side-by-side with them through the process. Add to that the continued real estate boom, ongoing construction, an unprecedented tourism and visitor market in these Sullivan Catskills, and the seeds for growth in the future look to be fruitful moving forward.
In this issue, you’ll hear from the heads of two Sullivan County family-owned businesses including Fred Stabbert, publisher of Callicoon’s Sullivan County Democrat; and Chris Schmidt, leader of Schmidt’s Wholesale in Monticello about their successes, challenges, and their companies go-forward plans. The legal and financial community weighs-in too with succession consideration and advice from Catania, Mahon & Rider, RBT CPAs and Jacobowitz and Gubits.
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Family run businesses are responsible for 83 million jobs (54% of our workforce) and 87% of all tax returns in the United States. They represent 57% of our GDP (70% of global GDP) and $7.7 trillion dollars in our economy. Family businesses show higher profitability overall. Family businesses are less likely to lay people off and more likely to hire despite the possibility of an economic downturn. Family businesses are more likely to give charitably to their respective communities and engage in extensive philanthropic activities. They are part of our school boards, rotaries, municipal boards, religious leadership, coaches and more. Family businesses have a more long-term strategic outlook due to their main motivation consisting of creating a legacy for generations to come. Family businesses are less likely to raise debt and are widely deemed financially prudent. Despite these great statistics and community attributes only 30% make it to the second generation and only 1/3 of that make to the third generation. Economic programs and institutions are not set up to significantly assist these businesses and they are often not able to take advantage of assistance when needed. The pandemic driven programs did change that but many faltered due to the shutdowns. Family conflict is also a factor in long term viability. For those that due survive and thrive, however, their importance to the health of our economy cannot be understated. In this cover story we highlight examples of family run businesses that have provided stable investment, employment, and have given back to our community for generations. We applaud their significant contribution to our economy and community.
“In terms of debt, ‘don’t put more in your mouth than you can chew and swallow’ my father would tell me constantly. Debt can sink your business if something goes wrong, and you can’t repay timely.” He advises to stay ahead of the curve, look for opportunities, and see how other successful people are doing things in line with that you’re trying to achieve.
Combined Energy Services was founded in 1968 when Walter Taylor, who was working for a different local heating oil supplier had the opportunity to purchase a one truck oil company in Monticello. Walter would make deliveries while his wife Patricia answered the “Taylor Oil Company” phone in their house with two infants in tow. Soon thereafter, Walt purchased an “Atlantic” gasoline station on East Broadway, soon to change to “ARCO” and eventually to CES when ARCO pulled out of the Eastern USA. Walter diversified with the purchase of Bethel Oil Company & Roy’s Gas Service, both located in White Lake launching him into the propane business. In 1981 Benton Bros Gas Service in Liberty became part of CES, growing the propane side along with a storage facility on North Main Street in Liberty. Over the last 54 years CES has grown with six retail offices/welding supply stores, ten distribution facilities, a fleet of over 100 vehicles & 140 team members working in parts of six states. Most recently with the purchase of a facility in Eastern Massachu setts the CO2 division will deliver into Southern Maine, New Hampshire & Rhode Island.
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HISTORY Like many second-generation business owners, Mike Taylor started hanging around with his dad in the oil truck as a young kid, took an immediate interest and basically never left. “I worked daily after school pumping gas at our station on East Broadway, painting propane tanks, bagging or delivering coal, delivering propane heating oil once I got my CDL during high school – my father couldn’t shake me. There was never a day that I “chose” to “work” in the family business, I was born into it, even driving a propane truck to my junior prom committee meetings.”
At 54, Mike Taylor still loves getting out of bed and going to work every day. “When the day comes when it’s no longer fun, then it’s time for me to move on.”
“All of my kids have been working for years at various parts of the business whether it’s been in our pool supply store, the accounting department, installing & testing propane tanks, they’re helping out wherever needed.” Says Mike, “We’re leaving the door open to the next generation, but you definitely can’t force anyone. I’m fortunate to be able to work with them as they see things through a fresh lens and make me proud every day.”
Left to Right: Ross, Mike, Harly and Drew Taylor
Mike Taylor - Owner of Combined Energy Services County for Economic Development the Know 2022 Sullivan County Partnership for Economic Development
LEGACY Walter’s legacy lives on with son Michael as current president and his 3 grandchildren all actively working in the business when not in school. “No family business is ever easy, but nothing beats achieving successes as a family; growing the business, entering new markets, bringing on new innovations or ideas. The real challenge is not letting set-backs, different views or disputes affect your relationships.
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His advice for a successful business is to treat your customers and staff the way you’d want yourself or your mother treated. Be honest, fair, straightforward and give the best possible service no matter what and good things will follow.
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Aside from family, Taylor feels that he has assembled the best team of locals at his company who achieve amazing things collectively. “None of what we’ve built could have ever been done without the dedicated team of professionals that give their all every day.”
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“Change is good, embrace it, run with it ahead of the competition that might not be as adept to change.”
There must be a “give and take” in any relationship, family businesses are no different.”
Families in BusinessFamilies in Business
“I’m always thinking how we can do things better or more efficiently and not become business stagnant – things that you did last year or even last week might not be how you’ll be doing things tomorrow.”
LESSONS LEARNED/ADVICE
Families in BusinessFamilies in Business
Denise started a bus company in the Bronx NY named VP Buses in 2015. They would go on to grow and sell that business in 2021, allowing him time to take the reins of Rolling V.
• When you make a promise, keep it.
“My dad Phil always had patience with me and taught me that this is not a given, that it must be earned. He’s got strength in his convictions when it comes to this stuff unlike anyone I’ve ever met. I’m grateful for that because filling his shoes will not be an easy task, but he continues to guide and support me in this journey.” Nick confides that his father is a cowboy at heart, and they’ve adopted “the code of the west” at Rolling V that serves them well.
• Talk less and say more.
Left to right: Nick Vallone, Phil Vallone and Phil Vallone Jr. Nick Vallone and his daughter Emilia
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HISTORY
• Remember some things aren’t for sale and know where to draw the line.
CHALLENGES
Nick Vallone started working in the maintenance shops as soon as he could. “I used to sit in a car seat while Dad plowed the bus yards after a snowstorm. My first job was taking out the trash at age 13. From there I began to learn basic mechanics before moving on to dispatching at age 15. I would walk to the bus depot after school and assist in the office while my friends were on their buses headed home.” He did this until graduating high school and heading off to St. John’s University in Queens NY. During college he worked at the Queen’s bus company when time allowed. Shortly after graduating, he and his cousin Bus
Rolling V was started in 1990 when Phil Vallone returned to the Catskills with his wife Donna and two boys Nicholas (born 1989) and Phil Jr (1987). Previously he was operating a bus company in Queens with his two siblings Eddie and Linda. Linda still operates the Queen’s business to this day. Their father Ed Vallone had operated buses in Brooklyn NY in the ’50s before retiring to Roscoe NY to raise his family.
“I am most proud that this business is a place people can call home, including myself. We have so many talented employees who have been here for over 20 years. Some have been here nearly as long as I’ve been alive. I hope to make them proud too.”
• Always ride for the brand. (Nick took this literally in 2015 when he got a tattoo of the company logo)
FATHER KNOWS BEST
• Live each day with courage and take pride in your work.
• Always finish what you start & do what has to be done.
Rolling V
Managing his time and balancing family life is one of Nick’s major challenges, “There’s always something to do; I could spend 24 hours a day here. The only thing more important to me than this business is my family. My wife and I have been together for 15 years, married 6, and welcomed our beautiful daughter Emilia almost 2 years ago.” Despite the challenges, he feels like there is nothing more rewarding than carrying on a legacy and doing so with the full support and guidance from his family.
LESSONS/ADVICE Be a sponge. Absorb the hows and whys of the previous generation. If you come in looking to re-invent the wheel, chances are they’ve been there done that. Learn about the company’s successes and failures before you try to put your own touch on things. “Life is long and you can’t expect overnight success. Both failure and discomfort are personal growth opportunities. If you recognize that early, you’ll be fine,” advises Nick. Adds father Phil, “I am not sure if the word retire can actually come out of my mouth. I can say however that I am spending less time at my desk – which has been made tremendously easier with Nick at the helm. He works great with our schools, our communities and most importantly the established team we have at Rolling V. He gives us all confidence that the company is in good hands.”
• Be tough, but fair.
FAMILY “I don’t think that either of us had a clue as to exactly what I would be doing at the company when I started working for my father the Summer of my freshman year at Syracuse University, but we had faith that I would figure it out and I did,” says Kori Allen, Schumacher’s daughter. “That first Summer, I developed a purchase order system utilizing database software. I continued to work for the company during school breaks while I pursued my education. During my sophomore year of college, I decided to change my major from the medical track to construction management. “Her dad officially offered her a position at Schumacher Systems the semester before graduation and she accepted, beginning her career as a project manager for 9 years until she took over the accounting department in 2005. “I continued to run small projects and as we grew our accounting staff, I was able to take on large projects again. I believe that I will always have one foot in each department so that I can easily pivot and help where needed.” Similarly, her younger brother Brett joined the business after high school where Craig started him as an apprentice on job sites. He also went on to college for construction management and joined the company. Both she and her brother agree that one of the biggest challenges in owning a family business is that there is more pressure to succeed because it’s not just the company you can let down but also your family. “I feel the same responsibility to my employees and their families as well.” Adds Kori.
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HISTORY
GUIDING PRINCIPLES
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“For Schumacher Systems, the main advantage is that my brother and I have the same upbringing resulting in similar values and ideas, says Kori, “This makes it easier to agree on how to run the business and move forward with a unified vision.”
TRANSITION When COVID struck, Kori and Brett didn’t feel that it was a good idea for their father to be out and about at the jobsites any longer. He agreed but quickly took it one step further and decided that this was the right time to retire. “I think the timing worked out very well. Brett and I had so much experience under our belts that it was an easy transition,” says Kori. Craig decided that at almost 70 years of age, it was time to retire. “I love my children and am very proud of them. I hope for their success in business as well as their personal life,” says Craig, “I hope they can moderate both. There should be a balance.”
Kori, Brett, and Craig Schumacher
Craig and Brett Schumacher Kori Schumacher Craig Schumacher 845.794.1110
Craig Schumacher’s construction career started soon after he was released from the Military in 1969. He worked for AT&T as a lineman on outside construction before returning to school in 1972 to complete his associates degree. While attending college, he began painting houses to pay the bills. “My wife’s grandfather was a full-time painter at the Pines hotel in South Fallsburg and he took me under his wing, teaching me and helped me to acquire a number of contracts I probably wouldn’t have gotten by myself.” Painting evolved into patching drywall, patching evolved into taping and hanging drywall. Business accelerated to the point that he couldn’t handle all the work himself, so he hired employees and subcontractors and it became Schumacher Drywall. The business hanged and taped hundreds of houses over eighteen years. By 1990 he decided to move on to become a commercial and unionized contractor, and Schumacher Drywall became Schumacher Systems Inc.
Reputation Matters! “When Schumacher Systems is hired for a project, we go above and beyond to provide first rate service.” Says Kori, “My father was a stickler for quality as are Brett and I, as well as our foremen. Quality work and honest business practices are a cornerstone of the Schumacher name. “Honesty and Integrity are non-negotiable,” adds Brett. “I get to work in a great environment with my sister and family around. The people I trust most in the world.”
Kori feels that there is no substitute for putting your nose to the grindstone. “I worry that the next generation does not really understand what it takes to produce their own success.”
Charlotte Van Horn with her parents Deborah and Richard Davenport and sister Christina Bennett. Argenio Brothers - concrete repair NY Stewart Airport
HISTORY Tri-State Drywall and Acoustical was incorporated in Dec. 2005 by Charlotte Van Horn with two partners. Eventually, Charlotte bought out the other partners to become the principal owner. Tri-State is a commercial construction company that operates in Rockland, Westchester, Sullivan, Orange, Dutchess, and Ulster counties of New York, Pike County in Pennsylvania, and Northern counties of New Jersey. Charlotte runs all day-to-day operations of Tri-State and her husband, Clinton Van Horn manages field operations. It is a true family affair with her sister Christina Bennett as the office manager, her mother, Deborah Davenport as her bookkeeper, her father, Richard Davenport as an estimator, and both of her teenage sons, Ryan and Cody are employed at Tri-State. Ryan helps load equipment for projects and Cody helps in the office. “My boys are currently involved but I would like for them to explore their own paths, “says Charlotte. “Ryan would like to explore criminal investigation and Cody wants to be a pilot and join the Air Force. Of course, I would love for them to one day take over the business.”
Albert and Jerry are now the principles in the business and manage, along with Jordan Ely, all aspects from bidding to project management. They handle all types of paving, earthwork, surface and structural concrete demolition and construction. At present, Albert’s son Albie is working in the business and represents the fifth generation since Louis Argenio Inc. began. According to the Argenios, the major challenge of a family business is establishing the priorities of family employee’s responsibilities. Commitment to the success of the business must be foremost in the minds of family employees. Argenio Brothers continued success over the decades is the rare exception for multiple generation companies.
Beginning in 1966, Louis, Albert, and Genaro Argenio purchased various equipment from a predecessor company, Louis Argenio Inc., started by their grandfather in the early 1920’s The company prospered through the years despite the early and tragic deaths of Louis (1972), and Albert (1982) Genaro (Jerry) operated the company as sole owner until joined by his son Albert and nephew Jerry. In 1988 Jerry opened a blacktop plant, Hudson Valley Asphalt, which operated until it was sold in 2018. The plant was managed by his son Andrew who moved to North Carolina after the plant was sold. The company also has a recycling operation at their New Windsor location, where excavated concrete and blacktop is processed into construction material.
Guiding a business that has had the ability to provide, not only to your family, but to give employees the opportunity to share in the benefits of a successful career, has been a great source of satisfaction for the family. Jerry says, “Retirement is not revelation, it is evolution. It happens as the next generation takes control of the various aspects of the operation and you recognize their competence.”
PROS AND CONS She does note that some disadvantages of a family business are when there are family events or vacations it affects the entire company. But on the flip side, you also have people to rely on who are loyal and trustworthy. Tri-State has built a company with many family members and loyal employees. Everyone that works for Tri-State is treated like family. But no matter what happens at work, at the end of the day it stays at the door. Whatever happens at work, stays at work.
HISTORY
LESSONS LEARNED “On one of my very first projects, I was standing in an onsite project management meeting listening to everyone argue and debate. I just stood there and listened and took notes. At the end of the meeting, the General Contractor came up to me said, “Letting them think that you are the stupidest person in the room is not always a bad thing.” That was the greatest lesson that I learned in my 30 plus years in construction. Listen, learn, and soak it all in because you are going to need to know your trade and know it well. Knowledge is power. Also, your word is your contract, so do not give it unless you intend to stand behind it.”
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Families in BusinessFamilies in Business Argenio Brothers
Tri-State Drywall & Acoustical, Inc.
“Just be better than yesterday, and work really hard”. Through this hard work, the company has been able to expand: now selling out as far as Rochester and working towards getting into the Buffalo market and covering more of upstate NY. “You don’t have to move fast just don’t stop moving” because progress happens in little chunks and that’s kind of how I like to live.”
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Their 2,000 guests the next day had water. Things like that really make me proud. The things that we can accomplish and provide when certain natural disasters or weather events or emergencies happen and we’re here; we can help people out on a local level.”
GUIDING PRINCIPLES
Chris Schmidt - President of Schmidt’s Wholesale
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PROUD MOMENTS “I’m proud of the work we do here and the services we provide.” Chris recalls a time that a client didn’t have water and their large facility had 2,000 people coming the next day. “There were certainly no other places in Sullivan County, let alone in the Hudson Valley for them to get everything they needed to hook up a temporary water main. We were sweating it out because the scope of what they had to do in such a short period of time was huge - they probably had to work around the clock on a Saturday to get it installed, but we provided everything they needed, and they didn’t miss a beat.
WholesaleSchmidt’s
The company is also committed to giving back to the community. “With a lot of our charitable giving and volunteer efforts, both my father and I are very involved in quite a number of projects outside of the business and that flexibility of owning the business allows us to get involved with those community things.”
C. Schmidt is extremely proud of his people and management team.
Gary Schmidt of Schmidt’s Wholesale County County Economic Development
“I absolutely 100% feel like our employees are family, dysfunctional family and I’ll say that to anybody here, but we have a lot of fun.”
“I started here sweeping floors at 12 or 13 and it’s the first real job I ever had.” A 1995 Monticello graduate, Chris worked every Summer break, Winter break until he graduated college in 1999 and went to work for his father full time, becoming President of Schmidt’s in 2008. “It’s like my father had a crystal ball and knew what was coming, because navigating through the recession was a bigger lesson than any classroom or textbook could ever teach me. We weren’t financially prepared for the recession back in 2008 but it was the professor of lessons learned for me in business.” In 2014 he became majority shareholder and owner. “My father and I get along great, so we never had inner fighting where your siblings get involved over who’s in charge etc… my brother worked here in the Summers and hated it when we were growing up, this was not his thing and never going to be his thing and that’s OK. There’s no sense being nostalgic because you’re not doing anybody any favors in a job that you don’t love.”
Families in BusinessFamilies in Business
Like his dad Gary, Chris Schmidt knew very early on that joining the family business was in his future.
Brad and Barbara were always open with Laura and Brittany about the business and financials. Through several family meetings and lessons learned over the years, The Johnson Family felt it was time for Laura and Brittany to officially take part in ownership of the business. The sister duo joined the ownership team in 2021. Brad still holds the important role of mentor within the family and business. Family business also means running that business regardless of family challenges, including when a family member gets diagnosed with an illness. It is certainly an unwelcomed challenge, but you must pivot. Barbara retired fully in January of 2020 due to not being able to continue her daily work in the business because of her diagnosis with Huntington’s disease. The Johnson Family knows now, more than ever the importance of working together and most importantly, supporting each other, that is the key to the success of any family business.
HISTORY
GUIDING PRINCIPLES
In 1986 Brad & Barbara Johnson moved up from Philadelphia, PA to open a SERVPRO Franchise in Middletown, NY. SERVPRO is a cleaning, restoration and construction business helping both homeowners and business owners with disasters that include fire restoration, water mitigation and mold remediation. They handle all phases of reconstruction post disaster.
The Johnson family follows the business principles of honesty and mutual respect. Their favorite quote is “Begin with the end in mind.” They are proud of their reputation and the quality of the work that they perform for SERVPRO.
REWARDS “We constantly get to have family time together even during the workday.” Says Brittany, “It is great that my parents were able to coordinate family vacation time when we were younger.” Brad’s goal for Laura & Brittany was to see all 50 states before graduating high school. They achieved that in the summer of 2005. There is a downside to all of this togetherness. “Normally, our Thanksgiving includes our planning meeting for the following year with goals of where we want the business to go,” says Brittany, “So There is not a clear line between business and family time. Family dinners turn into business meetings.”
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Brad & Barb always hoped that their daughters Laura & Brittany would join the business but never made them feel like they had to. They were open to options of selling if Brittany and Laura were not interested in being a part of the business, but Laura knew from a young age that working at SERVPRO was her dream. After graduating from Stevens Institute of Technology in 2010, she started working at the business immediately. Brittany went to school at Rider University for Business Education. Before graduation, Brittany caught herself checking in with Laura and her parents on how the business was doing. She knew by the time she graduated in 2013, that SERVPRO was going to be where she wanted to be.
Laura, Barbara, Brittany, and Brad Johnson
Families in BusinessFamilies in Business SERVPRO
Their advice for a successful family business is to have truthful and candid conversations. Create clear lanes for tasks within the business between family members. Be prepared for anything that may come your way. Business can bring unexpected challenges, but if you are open to change, everything will be alright. Convention 2001 SERVPRO Office at Home until 1996 Brittany and Laura Johnson
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Too often, I have heard retiring owners say “this is how much I need to retire.” While that may be true from a personal financial planning perspective, often what the owner needs or wants for his or her business has little or no relationship to the actual fair market value of the business in the eyes of the successor. Additionally, some businesses’ values are so intrinsically tied to the owner’s personal contribution and value that, when the owner is no longer involved, the value of the business in the hands of a third party is significantly lower. This presents challenges to owners who are truly ready to retire but may not be able to afford to do so because they cannot obtain the payout they desire.
Cele Yatingears NY
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Coddling Successors; Picking the Wrong Horse. Business owners often make the mistake of thinking that no one else can do what we do. We sometimes shelter our potential successors from learning the ropes, taking risks or learning from mistakes. As a result, when the time comes to implement a succession plan, the proposed successors simply are not ready and/ or willing to take that leap. Another trend I have seen is owners not willing to bring key employees along the learning or compensation curves and then having to scramble to find a successor on the verge of the owner’s retirement. This is a huge risk when the successor has not had much time in the business and potentially has very little to lose if the plan fails.
Unrealistic Expectations of Owners.
This issue is emotional but cannot be discounted. An owner’s sense of worth very often is tied to his or her business and its success. It is very difficult to detach oneself from a business in which you have been involved for years or decades and even harder to witness someone else stepping in to run it, perhaps differently than you did or would. Properly working through transition planning both before and after the owner retires is critical to the ongoing success of the business, the ability of the plan to succeed financially and the selling owner’s peace of mind.
Over the past couple of decades, I have worked with many small and mid-sized closely-held business owners on various transactions during the “lifecycles” of their companies. One of the most challenging and emotional experiences in the life of a closely-held business owner is planning for ownership succession of the business when the owner retires or dies. This article covers common mistakes owners make as they plan for the succession of their business.
Planning for Business Succession: Traps and Tips by Michelle F. Rider, CPA, Esq.
Contract Drafting, Negotiation and Review • AIA, Consensus Docs, EJCDC, State/Agency Specific Insurance Review (IRMI Certified) Construction Dispute Resolution • Payment Disputes/Delay Damages • Wrongful Termination • Mechanics Liens and Payment Bond MWBE/DBEClaims • Certification and Compliance mcatania@cmrlaw.com CONSTRUCTION SERVICES Michelle mrider@cmrlaw.comRider • Acquisitions, Sales and Mergers • Business Succession Planning and Estate Planning • Shareholder, Partnership and Operating Agreements • Commercial Transactions, Leasing and Financing • Business Breakups • Employment Law and Regulatory Compliance • Trademarks and Copyrights • Corporate Governance CORPORATE SERVICES Innovation Excellence Integrity www.cmrlaw.com • (845) 565-1100 • 641 Broadway Newburgh,
Michelle F. Rider, CPA, Esq. Managing Member Catania, Mahon & Rider, PLLC Guided by a desire to provide excellent and comprehensive legal representation, the attorneys at Catania, Mahon & Rider, PLLC offer strategic and cost-efficient solutions to businesses and their owners.
Transitional Pains/Seller’s Remorse
Practical Planning Tips for Developing a Strategic Succession Plan: 1. Be very conscientious about CapEx as you near your exit plan implementation. Now may not be the time to accumulate unnecessary equipment.
Integration with Estate Plan A business succession plan that has not been fully implemented can have devastating consequences if the owner’s estate plan has not taken the business succession planning into consideration. This involves everything from liquidity concerns, governance powers for the owner’s estate representatives to operate the business until it can be sold or transitioned, and lack of necessary knowledge or information by the estate representatives about the business itself or the succession plan. When a significant portion of a business owner’s assets are tied up in the business, it is critical that there is comprehensive short-term and long-term planning for the business succession in tandem with the estate planning. Waiting Too Long. It probably goes without saying that the biggest risk to implementing a successful business plan is simply waiting too long to start planning. While owners are busy running the day to day business and putting out fires, it becomes too easy to simply procrastinate and “get to it tomorrow” with respect to planning and strategy issues. My advice is that you put time aside annually or biannually to meet with your business advisors and discuss your longer term planning goals to make sure you are moving in a direction that makes sense for you, your business and its potential successors. This is not a one-size-fits-all approach, and all options should be considered initially and then refined over time as you take the important time for strategic planning on a regular basis.
3. Start the conversations with potential internal successors early. This does not involve just one conversation.
2. Prepare a data room that includes all important business documentation, contracts, etc. The more you know and have organized about the business, the better. Do not just rely on memory. This will also make it easier for you to give prospective purchasers access to pertinent information and the appropriate time.
Liquidity Challenges. Lack of liquidity and access to capital is a prime cause for the failure of many succession plans. Setting realistic and flexible expectations, properly structuring and documenting the succession plan and making sure that the successor(s) are creditworthy and able to access capital are integral to the success of the plan. If the selling owner is going to hold paper or be paid via an earnout, there must be sufficient collateral to secure that payout and its attendant risk, ideally with a trigger for a third party refinancing of the private note as soon as possible.
4. Help your internal successors build financial strength, skin in the game and client relationships, if those are important to the success of your plan. Be careful to protect your confidential information as you do so. This is a balancing act that can be navigated with proper legal advice.
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5. Pick the right advisors and use them. The insights and structuring expertise of experienced advisors with these types of decisions can be invaluable.
• Respect tradition but don’t be trapped by it; be open to new ideas and leave behind outdated
RBTPartnerCPAs,
Jonathan Rouis, CPA LLP 51 Sullivan
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• Learn from other business families about how they managed the transition, who helped them, what worked and what didn’t, and any other advice they may have.
• Be transparent and maintain open communication with all interested parties so there’s a shared view of the future that family, employees, and communities can buy Remember,into. succession planning is a long-term, ongoing process – not an event. A successful succession plan can fill a need brought on by a variety of planned (i.e., retirement) and unplanned (i.e., health issues or death) events. Finally, the best time to put a plan in place is before it’s actually needed.
•preconceptions. Take time to let your plans evolve. Regularly review, update, and change directions when necessary.
Family Matters: Setting Up the Next Generation for Success by Jonathan Rouis, CPA Handing over the reins to a family business should be a source of pride, accomplishment, and peace of mind; unfortunately for many, it results in family strife, erodes wealth, and leads to business collapse. So, how do you protect your family and a business you –and maybe even a few generations before you – spent life building? A strategic, well-thought-out, and executed succession plan is key. At its simplest, a succession plan is a way to set up the next generation for success by defining how to transition management and ownership of a business. According to ScholarWorks 90% of the global economy is represented by family businesses; unfortunately, 70% of those have a first generation failure rate. The goal of a succession plan should be to understand, preserve, and grow the business’ value and pass it on. Without a strong succession plan, families break up and go to court. Performance and reputation suffer, while disruption, conflicts and uncertainties arise. Enough said? Don’t rush to name your next CEO or get your estate planning underway just yet. While you may have the best of intentions, succession plan involves a lot more than that. It could include a CEO job description, governance, and future strategic business plans, while accounting for different skills and interests of new leaders, business context, and the changing marketplace and business environment. A succession plan may define the process for planning; choices of entity structure, valuation, and financing; talent assessment, development, and compensation; estate planning including gift taxes, life insurance and invesments; and balancing business needs and family concerns to drive success. An EY survey of large, longstanding family businesses around the world revealed “they lay the groundwork for new leadership long before succession occurs” by defining who is responsible for succession; focusing on preparing the next generation; nurturing an entrepreneurial culture; and attracting top talent. As reported in Harvard Business Review, “Just as a business must reinvent itself as markets shift, so must a business family reinvent (or at least thoughtfully revisit and refresh) its ownership and leadership model.” It suggests doing a few things in advance of making succession decisions:
T M BE RLAN D PR O P E RT IES .C O M | CAT S K I LLPR E M IE R.C O M 62 STEWART AVENUE • ROSCOE, NY 12776 | 607.290.4130 #1 in Sales & Service in Catskills Real Estate Premier, Residential, Commerical & Vacant Land Real Estate Services Premier, Vacant Land Real Estate Services
• Articulating family dynamics and how they’ve changed since the start of the business (or transition from the last generation).
FIND THE TALENT YOU NEED Supporting Businesses Small to Large with Qualified Candidates Placed: Human Resources 845.344.3434 Did You forNotEditorialLikeorinAdvertisingMissthisIssueWouldtoSubmitContent?toworry,ournextissueisscheduledpublicationinNovemberandthereis a huge discount if your purchase an ad now for the next four issues. Contact Jen Cassaro at cassaro.jen@scpartnership.com to find out how to reserve your spot in our next issue. Randy Resnick, Chair Karen Fisher, Vice Chair Michael Zalkin, Treasurer James Bates, Secretary Board of Directors Carlito Holt Kevin McLaren Larry Wolinsky John Brust Gary JonathonGeraldSliverSkodaSchiller PO Box 4299, Middletown, NY 10941 | Yard/Shop: 21 Allen Lane, Bloomingburg, NY 12721 www.superior-surfacing.com Asphalt Contractors & Related Construction Services Commercial Asphalt Paving & Repairs | Signage & Line Striping Crack Filling | Concrete Work | Excavation & Site Work Drainage | Sports Court Construction 845.733.5507 Sullivan County Partnership for Economic Development In the Know | Summer 2022 Sullivan County Partnership for Economic Development | 845.794.1110 | SCPartnership.com26 27
All services are provided throughout New York City’s five boroughs, Westchester, Nassau & Suffolk Counties, Connecticut, New Jersey and continues to expand.
From Engineering, Stormwater Management, Surveying, and GIS, Berger Engineering and Surveying, PLLC is staffed with professionals who are licensed and accredited to meet all your needs. They offer a full range of GIS services, from CAD transformations and GPS point documentation to site plan georeferencing, Berger Engineering can catalog all your assets with the highest accuracy possible and provide digital or paper maps for your inventory control purposes Engineering
The design’s commitment to using innovative blue-green infrastructure practices position the project to target LEED-ND certification. Prestige Energy Solutions is a one stop shop for all your insulation, HVAC and energy needs. No house is the same, so all insulation needs are different. They offer best-of-breeds HVAC solutions using modern systems such as Air-source and Geothermal Heat pumps and hydronic radiant heating systems and provide expert and objective analysis on the most economical approach to take with your energy needs. Six Diamonds is a family business that has been serving their community since 1995. Six Diamonds represents Manuel and Maria’ Quezada’s six children. The company is focused on providing tree services with the highest level of customer satisfaction. Six Diamonds will remove any diseased, infested, or potentially dangerous trees that may impact the safety of your family and property. Their landscaping service will cut down and remove the wood, brush and surface roots, manicure your lawn, grind stumps and leave the area clean as if they had never been there. The Sunshine Group — proudly serving buyers and sellers throughout Sullivan, Orange and Ulster Counties for over 30 years.
By sourcing quality goods from socially driven organizations, disabled entrepreneurs and local small business, Hurleyville General Store is designed to promote meaningful access, integration, and economic opportunity for people with complex disabilities.
and Surveying, PLLC Sullivan County Partnership for Economic Development In the Know | Summer 2022 Sullivan County Partnership for Economic Development | 845.794.1110 | SCPartnership.com28 29
F irst established in 1976 as CopyLand: the first Xerox copy-shop to open in Kingston, NY. serving small businesses, the Woodstock art community, as well as IBM. Since that time, ColorPage has grown into one of the area’s leading marketing and publishing service providers. The company’s digital offerings, as well as its digital printing and mailing services, continue to grow & adapt in an ever-changing market. They employ in-house experts for a one-stopsolutions menu of modern graphic communications services; Offering a team approach getting projects done on-time and on-budget.
Liberty Mutual specializes in providing personal lines and small business insurance to clients with a consul tative approach. They believe the insurance purchasing experience should be made easy but also provide peace of mind that people’s most valuable assets are protected. Liberty Mutual believes that constant education and rep development is a priority and offers those resources to all employees. Livingston Farm is a regen erative mixed-use community development that brings together organic agriculture, farm-totable hospitality, and upscale housing under sustainable design principles, providing a soulful place to live, work and play in Livingston Manor. The project’s guiding principles include conservation, restoration ecology, climate change mitigation, diversity & inclusion.
238 Main Street, Hurleyville, New York 12747
Langan provides an integrated mix of engineering and environmental consulting services in support of land development projects, corporate real estate portfolios, and the energy industry. With more than 50 years in practice, there is very little that they have not seen. They apply their collective knowledge to projects to achieve the best possible outcomes. Langan’s experience in designing practical solutions that meet and exceed business objectives leads clients and partners to trust Langan... no matter the location, no matter the challenge. Champion Elevator Corp. is an independently owned, full-service maintenance, repair, wheelchair specialty installations, violation removal and testing company.
Sullivan County Partnership Grows EXECUTIVEGOLD INVESTOR INVESTORINVESTOR INVESTOR Berger
Catania, Mahon & Rider, PLLC is one of the Hudson Valley’s leading general practice law firms. Their diverse practice groups, each staffed with experienced and knowledgeable professionals, allow them to provide excellent and comprehensive representation. They strive to offer their clients innovative, strategic and cost-efficient solutions to their individual needs. This is all accomplished upon a foundation of integrity, the type of forthright yet respectful counsel that engenders trust and helps build strong and long-lasting relationships.
In 2022, a person can make lifetime gifts of $12.06 million without triggering the federal unified estate and gift tax (twice that for married couples filing jointly). However, this amount will be reduced to $6.2 million at the end of 2025 unless Congress acts to extend or modify it. What is certain is that changes are coming, and the next few weeks present a last opportunity for business owners to make substantial gifts under the existing generous threshold. If you have been considering passing on your business, now is the time to consult with your professional advisors.
Gary M. Schuster- Partner Jacobowitz and Gubits, LLP jacobowitz.com
Business Owners Considering Succession Might Want to Act Soon
Successful business owners are eventually faced with the challenge of passing on their business. There are many options, in fact, it may seem that there are too many options. The business could be sold to a competitor. It could be sold to a junior employee. It could be sold to all or most employees with an employee stock ownership plan. It could be passed on to some or all of the owner’s children. An owner might sell his or her interest in the business to existing partners. Or the owner might just sell off all the assets that can be sold and shut the doors.
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Ideally, an owner will start planning early with the assistance of the company attorney, accountant, and insurance agent. The costs, expenses, benefits, and drawbacks of each option will be put on a spreadsheet and carefully analyzed. It can easily take a year to do this kind of planning, and it might take several years to execute the plan. For example, a commonly used plan involves gifting small percentages of a company entity to a child over several years. During that time, the child gains knowledge and experience and is given more responsibility. Eventually (if all goes as hoped) the parent is ready to let go and give the child a majority share of equity and primary responsibility for management. A significant consideration in this kind of plan is the valuation of the percentages gifted to the child, and the tax consequences of such gifts. If a company is worth $20 million, and in Year 1 of the plan the parent gives the child a 2% interest in the company, the value of that gift is $400,000. Because $400,000 is greater than the federal annual gift exemption amount of $15,000, the gift must be reported to the IRS on form 709. If similar gifts are given in subsequent years, the value of the gifts may come to total several million dollars. This could trigger the federal unified estate and gift tax.
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Stabbert said his oldest daughter Laura, who is in Media and Marketing field in New York City, might consider one day returning to her roots to run the newspaper.
“We never had water in the office, but we were surrounded by it a couple of times,” Stabbert laughed. And who could forget the blackout of August 14, 2006, a Thursday, and a deadline day for the Sullivan County Democrat. “I think we were down to the last page when the power went out,” Stabbert remembered. “I went up to my mother’s house to wait out the blackout. All of the sudden I looked in the living room and a little night light was on. My mother had turned off all the lights in the house except for the nightlight. I quickly ran back to the office, finished the page and we made our Friday publication date.”
Him and my father were very close and it was a sad day when he died on February 5, 1977. Looking back, he really got me interested in the office.”
Nearly 8,956 editions have gone ‘to press’ since the Sullivan County Democrat was founded on a late June day in 1891. The Democrat has endured nearly every kind of natural disaster, from floods to blizzards, droughts to hurricanes. But one thing has held true for the past 132 years – the Sullivan County Democrat has never missed a deadline.
THE FUTURE
Stabbert also praised just retired Office Manager Sue Owens, a 42-year employee and former Senior Editor Dan Hust, who worked at the Democrat for 20 years.
“We cover the hard news, the ‘bad’ stuff, because that’s what we do,” he said. “But we are also Sullivan County’s biggest cheerleader. If we can make it to 132 years old it has to be a great place.”
From the Great Flood of 1902, which took out the Cochecton Bridge across the Delaware to the Blizzard of ‘58, which belted Sullivan County with a 36-inch snowstorm, the Democrat has taken some of the biggest hits nature has had to offer – and still put ink to newsprint to deliver the news to its faithful readers. There was also the great floods of 1996 and 2006, both close calls for the Democrat office on Lower Main St., Callicoon.
“Laura has worked here through her college days at LeMoyne and then for a few years after college,” Stabbert said. “But my wife, Regina, and I always encouraged our children to work hard and follow their dreams. Right now her dreams are in New York City and she is doing great. The Democrat will just have to wait for the next generation to take over,” he laughed.
TRIBUTE TO OUR STAFF
“We also have many employees with 10-plus years of experience and our staff really works as a team,” he said.
“We have come close a couple of times,” Fred Stabbert III, the current publisher of the newspaper and third generation of his family to have run the Democrat since 1927, said. “But we don’t plan on starting now.”
Democrat Turns the Page on 132 Years of Great Stories as Stabbert Family Celebrates 95 Years of Ownership
“Managing Editor Joe Abraham and Editor Matt Shortall are holding down the fort on the editorial end and my fabulous advertising staff, led by Liz Tucker, Barbara Matos and Susan Panella, are world class. When you are as fortunate as me to have so many capable and qualified professionals on staff, the rest comes easy,” he said. County
“It’s great to see the extraordinary work they do every week. My father and grandfather would truly be amazed.”
The Democrat continues to be Sullivan County’s oldest and most-respected news source, with a dozen full and part-time reporters and another 20 staff to help produce the newspaper. “We are embracing our future, from the latest in computer equipment to a newly redesigned website with advertising on it,” Stabbert said. “I believe our strength is in our commitment and caring about Sullivan County. We also just launched a Spanish language newspaper, which is doing very well. Our young and energetic staff is full of new ideas and work hard to produce great products.”
That hard work has produced 20 New York Press Assn. Press Awards in just the last two years – the most impressive being Second Place for General Excellence, earning the Democrat the title of second best community newspaper in all of New York State. “I am very proud of that award because it shows just how hard we work – day in and day out – to produce a great newspaper,” Stabbert said. “Our staff is the best.”
“There have been so many dedicated and hard-working people who have made such a difference at the Democrat,” Stabbert said. “I’ll never forget Leota “Lee” Hermann, she worked for us for more than 40 years. Lee was the only employee to work for all three Freds – Sr., Jr. and the Third. When my daughter Laura started at the office, Lee told me it was about time to retire.” “She said she didn’t want to work for four generations of our family.” There was also office manager Jean Price, a 30-plus year employee and business office helper Carol Wootan, who put in well over 30 years. “They were instrumental in our stability and growth of the newspaper,” he said. “They were so meticulous in everything they did. “And I would be remiss if I did not mention Tom White, my first editor,” Stabbert said. “He was a literal genius and very strict. He would yell and scream but somehow we got the newspaper out every week. He really taught me a lot about newspapering. “And my favorite… has to be my Uncle Perk,” Stabbert said. “I started working with Perk at age 16 and he taught me how to run the presses and a lot about printing.
Original Sullivan
Democrat Office - Summer of 1900 Sullivan County Partnership for Economic Development In the Know | Summer 2022 Sullivan County Partnership for Economic Development | 845.794.1110 | SCPartnership.com34 35
Civil / Site EnvironmentalPlanningComplianceandRemediationEnvironmentalPermittingandEcologicalServicesGeotechnicalEngineeringStructuralEngineeringSurveying,MappingandConstructionStakeout3DLidarScanningSpecialInspectionsandMaterialsTestingProud to serve as a Sullivan County Partnership Gold Sponsor CORPORATE HEADQUARTERS 70 Pleasant Hill Road Mountainville, nY (800) 829-6531 www.tectonicengineering.com Delaware Engineering, d.p.C. Civil and Environmental Engineering Office Albany,Locations:Goshen, Monticello, Oneonta, and Red Hook Explore our work DelawareEngineeringat.com At LeChase, our reputation for integrity, safety and quality has earned us the privilege of building projects –large and small – that continue to shape the future of Sullivan County. Whether a project is in health care, K-12, higher education, commercial, manufacturing, hospitality or housing, we are proud to support efforts that make the community an even better place to live, work and learn. 31 Lewis Street, Suite 303 | Binghamton, NY 13901 | www.lechase.com Building projects that build community Sullivan County Partnership for Economic Development In the Know | Summer 2022 Sullivan County Partnership for Economic Development | 845.794.1110 | SCPartnership.com36 37
Born: Hamilton Avenue Hospital, Monticello, NY Hometown: Monticello “My joke is that I never got far in life” Education: Monticello High School, Clarkson College of Technology (now Clarkson University) Majored in Industrial Distribution Family: 2 sons and 2 grandchildren Hobbies: Work. And I love to downhill ski. I usually go up to New Hampshire with my son that lives up there and we get together for a few days in a row and ski.
WHAT ARE YOU MOST PROUD OF IN YOUR BUSINESS?
BIGGEST LESSON LEARNED THAT YOU COULD PASS DOWN TO THE NEXT GENERATION? Something that was passed down from my father, then to me then to Chris, is to have a good credit rating. This business wouldn’t survive in the bad times if we didn’t have good relationships with various banks where we could borrow, get a mortgage, and pay it back. My reputation and my credit reputation in the community is the most valuable thing I have.
One is the longevity and the ability to continue to grow and pass it on to the family. It’s very nice to be able to do that and I’ve seen family business where that doesn’t work because there’s friction or different goals between the generations. I’m also proud of our people. We have one employee who has been here over 50 years and several who have already retired after 50 years. I’m proud of our stance in the community. We do a lot and I hope we do enough, but we do it quietly. We help people and get involved in charitable and civic organizations and I guess I got that from my father and mother. DO YOU HAVE ANY ADVICE FOR PEOPLE GETTING INTO THEIR FAMILY BUSINESS?
A piece of advice that isn’t easy, but I think it’s smart, (although we never did it) is sometimes when you have a next generation coming in-to require that they go and work for somebody else for a couple of years, even if it’s the same industry. The kids might push back and say I don’t want to take two years doing something else, but they learn a little bit what it’s like to work for somebody and not just come in and be the bosses kid. I didn’t feel entitled, I worked right alongside the employees and Chris is the same way. We don’t ask anybody to do something if we haven’t done ourselves.
Board Member SpotlightQ A
HOW DID YOUR BUSINESS GET STARTED?
My father graduated high school in the early 30’s in the middle of the depression. He got a job with the local wholesale supply house in Liberty where he worked until 1946 with stints in the Navy during World War Two and the New York State Troopers for about a year and a half. In 1954 he started a wholesale business with a partner and after they split up amicably in 1960, it became Schmidt’s Wholesale. He ran it and my mother worked with him in the business. As kids, my brother and I knew all about the business. With a family business it’s the talk at the dinner table. I still sort of live the business that way. After I turned 14, I worked here every summer, every school vacation and then went away to Clarkson College in 1966. My goal was to come back and go into business, which I did in 1970. My father took a chance and hired me (laughs) and I worked with my father and my mother for 12 years before my father died in December 1982, he was 68. I worked side by side with him in the business we got along well and were compatible. My mother was 77 when she retired, and she just passed away in 2021 just shy of her 100th birthday. Similarly, to my sons, my older brother had no interest in the business, but it was what I always wanted to do. My oldest son, Dan worked Summers and stuff, but he went off and did his own thing and Chris always seemed to like the business. Like myself, he went away to college, and he came back and started work full time in ’99. He and I worked side by side and he became President in 2008. He and I are quite different in a lot of ways, but we work well together. The challenge with owning your own business is that you’re tied to it. Sometimes your work/life balance isn’t as good. My son Chris does a much better job of that than I ever did. I worked too much when the kids were growing up. Although when he was in high school and playing sports, if he had a game anywhere in the afternoon I went. And he does the same thing with his daughter. He’s smarter than I am and works smarter. He’s very good at that and has a better work/ life balance. When you have a spouse sometimes whose parents worked 9-5, they don’t understand when a business is 24-7.
HOW LONG HAVE YOU BEEN ON THE PARTNERSHIP BOARD? Almost since the beginning. I was asked by Steve Drobysh to be on it, and I’ve been here ever since. I told Marc Baez a few years ago that I thought that would be my last time, and then we had the casino coming and I said “Well I want to stay on until the casino is finished and then I ran again. I’ve just always been involved like that.”
IF YOU WERE TO SIT DOWN WITH A NEW MEMBER OF THE PARTNERSHIP, WHAT ADVICE WOULD YOU GIVE THEM TO MAKE THE BEST USE OF THEIR MEMBERSHIP? Be involved; come to the mixers; engage with people. Make sure to use any benefits that the partnership has to offer when they do a training session or seminars and the mixers. It’s just good to learn more about the local area and what’s going on, who’s doing what, where, and it helps your business.
Gary Schmidt Schmidt’s Wholesale Inc.
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Call Us for a FREE Evaluation!845-294-8919DoYouHave an Emergency Plan for Your Business? Now operating A.MOLLY and ASTROCARE Now operating A.MOLLY and ASTROCARE A.MOLLY Now operating A.MOLLY and ASTROCARE Advanced DRI .com Water Damage, Fire & Smoke Damage, Mold Remediation, Construction Services, Contents Restoration and more! GAMBLING PROBLEM? SCAN THE CODE OR CALL 877-8-HOPENY OR TEXT HOPENY (467369)*. MUST BE 21 OR OVER THE GAMBLE.*STANDARD RATES APPLY. PLAY.YAY!STAY. Visit RWCatskills.com Thursday!Hello The Partnership is serious about Economic Development…. but we’re also serious about Networking! Sign up to attend our next event and make some new connections… you’ll be glad that you did. Hear what our Investors have to say…. 2022 UPCOMING EVENTS Thursday, September 29 28th Annual Partnership Meeting & Awards 5:30 PM – 8:30 PM Resorts World Catskills 888 Resorts World Dr, Monticello, NY Thursday, December 15 Holiday Gathering 5:30 PM – 8:30 PM Location: TBD “Tara and I attended the Women in Business event, and we have to say it was absolutely incredible. Featured speaker Dr. Heidi Knoblauch was nothing short of inspirational and connecting with so many women entrepreneurs with a vested interest in the success of Sullivan County, where I live, made this event a powerful experience for all. We look forward to being a part of the vision of innovative growth with SCPartnership!” – CJ Millar, Horsefly Group Don’t wait to grab your sponsorships – Check out our updated media kit and see what opportunities will fit your company. Contact Jen Cassaro at 845-794-1110 to secure your sponsorship today! H. Knoblauch - Women in Business Event Sullivan County Partnership for Economic Development In the Know | Summer 2022 Sullivan County Partnership for Economic Development | 845.794.1110 | SCPartnership.com40 41
“I think the Sullivan County Partnership does a wonderful job at every event they put on. I love all the details that go into making the events so wonderful to be at.”
Formal invitations for the event will be arriving soon. We ask that you respond no later than September 15, 2022, to make the very most of your sponsorship investment.
Celebrate SeptemberSponsorAccomplishmentsOurOurAnnualMeeting29atResortsWorldCatskills Sullivan County Partnership for Economic Development In the Know | Summer 2022 Sullivan
“What a great night last night was! It is truly one for the books! You keep having those kinds of events, you can bet on us being there! “I wasn’t expecting such a huge turnout. I was quite surprised and delighted to see so many HAPPY people ready to do business.”
Ice sculpture produced and sponsored by Apple Ice County
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If you’ve never experienced a Partnership event, THIS would be the one to attend! Don’t miss out on your chance to grab one of our unique sponsorship opportunities for our PREMIERE EVENT of the year…our Annual Meeting and Awards Dinner on Thursday, September 29 at Resorts World Catskills. Showcase your company front and center with a chance to mingle with and reach hundreds of your business associates, clients, and potential customers. Sponsorship levels range from $500-$4,500. Be the first to grab the popular “Tommy Gun” drink cart sponsor, the video sponsor, cocktail hour sponsor, centerpiece sponsor and the brand-new program sponsor.
1 Apple Ice 516-860-6001appleice.com 171 E. Industry Ct Deer Park, NY 11729 2 Civix 504-304-0792gocivix.com x 2044 3300 W. Esplanade Ave Suite Metairie,400LA 70002 3 C.T. Male Associates 845-454-4400ctmale.com 12 Raymond Poughkeepsie,AveNY 12603 4 E.L.E.C. 825 845-674-9021elec825.org 96 Bates Gates Road Suite 70 New Hampton, NY 10958 5 FirstLight Fiber 845-420-2383firstlight.net 41 State Street 10th Albany,FloorNY 12207 6 Floral Cottage, LLC & Lawnsmith, LLC 845-469-4020floralcottageweddings.com 84 Stefanyk Road Glen Spey, NY 12737 7 Laborers Local 17 Lecet 845-565-2737liuna17.com 451-B Little Britain Road Newburgh, NY 12550 8 LeChase Construction Services, LLC 585-254-3510lechase.com 205 Indigo Creek Drive Rochester, NY 14626 9 Main Street Mews 914-490-3433234mainstreetmews.com P.O. Box Hurleyville,373 NY 12747 10 Orange & Rockland Utilities, Inc. 845-577-2498oru.com One Blue Hill Plaza 4th PearlFl River, NY 10965 11 Outdoor Media Corp/ Keller Signs 845-583-7400outdoormediacorp.com PO Box Mongaup562Valley, NY 12762 12 Riggs Plumbing & Heating LLC 845-513-6400 7 Forestburgh Rd Monticello, NY 12701 13 Rolling V Bus Corp. 845-434-0511rollingv.com PO Box 110 South Fallsburg, NY 12779 14 SERVPRO of Orange, Sullivan & S. Ulster 845-342-3333SERVPROosu.com 1259 Dolsontown Road Middletown, NY 10940 15 Sullivan Fire Protection Corp. 845-434-4030 16 Railroad Plaza South Fallsburg, NY 12779 5 7 4 3 MonticelloMongaupValley Hurleyville Rochester Glen Spey Ferndale Harris Deer Park NewMiddletownHampton Kiamesha Newburgh Poughkeepsie Pearl River onMemberstheMap Ever Wonder where Our Members are Located? From New York to Metairie, Louisiana, they’re not just from Sullivan County! Each issue, we’ll be calling out members from all over the map. 1 14 9 6 8 11 12 13 15 10 SULLIVAN PROTECTIONFIRECORP. METAIRIE, 2LA Sullivan County Partnership for Economic Development In the Know | Summer 2022 Sullivan County Partnership for Economic Development | 845.794.1110 | SCPartnership.com44 45
2713 Route 17M . New Hampton, NY 10958 Kitchens . Baths . Closets O: (845) 615-9410 www.HVKDC.com Over 125 years of design experience! Delta provides an integrated set of professional design and support services to make your next project a success. We are your trusted partner. delta-eas.com The Power of Attorneys 845.794.3833 www.BLSlaw.net We’re Jacob, Gary, and Joe— the area’s go-to attorneys guiding regional growth and development plans to the finish line. Each of us brings over 30 years of extensive legal knowledge to your project. Together, we’re expert negotiators and problem solvers in the board rooms and the court room. Reach out today for an initial consultation. We’re sure you’ll agree we check all the boxes. Land Use, Zoning & Planning Real CorporateEstateand Business Law Negotiation BusinessContractsand Financial Transactions Personal LitigationInjuries Sullivan County Partnership for Economic Development | 845.794.1110 | SCPartnership.com 47Sullivan County Partnership for Economic Development In the Know | Winter/Spring 202246
