Glens Falls Business Journal - April 2022

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

VOL. 34 NO. 02

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APRIL 2022

Dockside Landing Marina Sold To Group Great Escape Foresees Strong Season, Opens That Includes The Current Management Team In May With COVID Protocols Discontinued

Dockside Landing Marina offers boat rentals, boat service and repairs, a small retail store, a luxury condo rental above the store, and a boat storage facility just north of the marina.

Dockside Landing Marina, Hague, NY is changing hands, having been purchased by a private ownership group led by Phillip K. Whittemore, now retired from Whittemore, Dowen & Ricciardelli CPAs. Management will remain the same and the management team will become part owners, according to the terms of the sale.

The business, located on the northern end of Lake George, on lake Shore Drive, Hague, offers seasonal boat rentals, boat service and repairs, a small retail store, a luxury condo rental above the store, and a boat storage facility just north of the marina.

The purchase price is being held confidential.

According to the ownership terms, the property and management will remain the same under the current leadership of Scott Olson, Rich Stolen, and

Courtesy Dockside Landing Marina

Stephanie Kemenczy. Olson and Stolen will now own 25 percent of the business.

The incoming, new ownership group comprised of hospitality veterans Paul Bricoccoli Jr., Scott Endieveri, and Jason and David Krogmann (The Bullpen Tavern, Talk of the Town, and formerly, The Horseshoe Inn) will now own 75 percent of the business.

“This opportunity came about after some casual discussions with our accountant,” Phil Whittemore, said Bricoccoli. “We’ve always tried to put money back into our businesses and sock some away for anything that might come up. As we started looking at this opportunity a bit closer, the timing felt right and it made good business sense.”

“Growing up here, we’ve always loved the lake, so the opportunity of owning this lakefront property Continued On Page 13

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

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

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

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

For those who don’t have or forget to bring these, Great Escape has installed cash-to-card

Paul Post

kiosks where people can turn cash into a prepaid VISA debit card. The cards can be used anywhere, just like a regular debit card, so people can spend what remains if there’s money left over after visiting the park.

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

Plans call for a May 21 opening.

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

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

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

Continued On Page 14

CEG: Warren And Washington Counties Baker Presented With Annual Juckett Award Gained Population During The Pandemic At Adirondack Regional Chamber Dinner The Capital Region continued to grow through the pandemic, making it one of only two economic development regions in the state to see total population gains between July 1, 2020, and July 1, 2021.

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

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

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

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

CEG said that between July 1, 2020, and July

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

Among the eight counties in the Capital Region, half grew their populations over the year: Saratoga (+1,670), Greene (+609), Schenectady (+228), Columbia (+228). Rensselaer County sustained the biggest loss (-691), followed by Albany (-625), Washington (-187) and Warren (-20).

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

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

CEG launched a talent attraction campaign Continued On Page 14

The Adirondack Regional Chamber of Commerce (ARCC) celebrated the community contributions of attorney Carl T. Baker, of FitzGerald Morris Baker Firth P.C., who received the 33rd Annual J. Walter Juckett Community Service Award on April 1.

Baker was presented the award at the ARCC Annual Dinner at The Sagamore Resort in Bolton Landing.

“I am truly honored to receive this award,” said Baker. “Since Sandy and I moved here to live, work and raise our family, we have never thought of being anywhere else. The people, the community, the area have always made our lives richer. We are forever grateful to the good fortune that brought us here.”

Thomas Murphy, president of Glens Falls National Bank/Arrow Financial Corp. presented the award.

“I was very proud to nominate Carl Baker for the 33rd Annual J. Walter Juckett Community Service Award, and to be able to present it to him at the ARCC award dinner. Carl makes our community a better place to live and work and he is most deserving of this recognition for his lifetime of community service,” said Murphy.

The ARCC was joined by almost 300 business and community members in celebrating

Thomas Murphy, left, presents the annual Juckett Award to Carl T. Baker.

Andy Camp

Baker’s accomplishments, as well as reflecting on how far the community has come over the last year.

Continued On Page 13

2 • GLENS FALLS BUSINESS JOURNAL • APRIL 2022

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Personnel Briefs

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

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

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

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

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

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

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

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Morgan Stanley Wealth Management announced that Kathleen Grasmeder, a Managing director, portfolio management director, financial advisor in the firm’s Glens Falls Wealth Management office, has been named to Forbes Magazine’s list of Top

Mint, A New Restaurant in Glens Falls, Specializes In Fresh Farm-To Table Dishes •

Women Wealth Advisors and Top Women Wealth Advisors Best-In-State for 2022, listed on forbes.com.

Forbes’ “Top Women Wealth Advisors” and “Top Women Wealth Advisors Best-InState” is a select group of individuals who have a minimum of seven years of industry experience. The ranking, developed by Forbes’ partner SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors and weighing factors like revenue trends, AUM, compliance records, industry experience and best practices learned through telephone and in-person interviews. *

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Diane Dumouchel has been appointed director of finance and compliance for EDC Warren County.

Dumouchel brings 10 years of expertise in financial and administrative roles through her work with small businesses and nonprofit organizations.

After three years of working with Habitat for Humanity. *

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Sustainable PR in Glens Falls announced the hiring of Myla Dobson as account executive.

Dobson is responsible for managing client campaigns and supporting the agency’s community relations.

She is a recent 2021 graduate of Hartwick College, where she majored in political science.

Mint co-owners Katriel Houlihan, left, and her mother, Johanna von Geldern, right, are joined inside the restaurant by general manager Brandi Michal.

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

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

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

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

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

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

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

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

Vermont-based Black River Produce, which distributes throughout New England and parts of New York, is Mint’s main food purveyor. Items also come from The Alleged Farm in Valley Falls, Old Saratoga Mercantile in Schuylerville, whose greenhouse yields fresh greens year round, plus Glens Falls Produce, which sources items from Boston markets.

Ashtin Givens

Paul Post

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

“Once summer hits I can’t wait to go to the farmer’s market, talk to local growers and see what kinds of products we can get,” he said. “It’s important for people to respect where food comes from and to broaden their horizons about food.”

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

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

“I had worked for a friend who needed someone to run a bar and restaurant on the pier at Panama City Beach,” von Geldern said. “It was kind of like getting a master’s degree in how to run a small food business because we had to get all the approvals, figure out the menu, hire people, and know how to handle money. I did that for one whole season and it was successful.”

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

So von Geldern, a former elementary education teacher, decided to start a new full-time career.

After a year in business, she rebranded DISH to Sweet Beet Bistro, with an emphasis on farm-totable menu items.Its website is www.mint518. com.

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

518.894.2638

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GLENS FALLS BUSINESS JOURNAL • APRIL 2022 • 3

Vested Veteran Grill In Corinth Gives Some Bureau Of Labor Statistics: Hiring Was Up In Of Its Proceeds To Help Veterans With PTSD March; Hospitality Sector, Others Saw Gains

Ellie Stultz is the front end manager at Vested Veteran Grill in Corinth. One-tenth of the profits from the catering business are donated to an organization that assists veterans with PTSD. UPDATED BUSINESS NAME CORRECTION - 4/19/22

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

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

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

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

In another bow to the community, the Grill serves locally roasted Engine 3 Coffee.

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

Straight out of the military he took a job cooking.

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

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

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

he said.

The grill is open from 7-11:30 a.m. Tuesday to Sunday for breakfast. From Wednesday to Sunday, they remain open for lunch until 2 p.m.

Then, the restaurant closes for an hour to prepare for dinner, which is served from 3 to 8 p.m.

Wednesday to Sunday.

Favorites of the mostly local clientele include fried chicken, rueben sandwiches, chicken with waffles, hamburgers, and club sandwiches. They make their own candied jalapeño peppers and smoke their own pork. Another specialty of the house is Buffalo chicken dip on a burger.

“It’s a diverse menu,” he said.

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

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

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

The phone number is 518-654-8036.

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

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

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

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

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

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

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

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

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

The number of persons not in the labor force who currently want a job increased by 382,000 to 5.7 million in March, following a decrease of a similar magnitude in the prior month. This measure is above its February 2020 level of 5

million.

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

In March, 2.5 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic—they did not work at all or worked fewer hours at some point in the four weeks preceding the survey due to the pandemic. This measure is down from 4.2 million in the previous month.

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

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

Employment in retail trade increased by 49,000 in March, with gains in general merchandise stores (+20,000) and food and beverage stores (+18,000).

Health and personal care stores lost 5,000 jobs.

Retail trade employment is 278,000 above its level in February 2020.

Employment in construction continued to trend up in March (+19,000) and has returned to its February 2020 level.

Health care employment changed little in March (+8,000), after a large increase in the prior month. Employment in the industry is down by 298,000, or 1.8 percent, since February 2020.

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4 • GLENS FALLS BUSINESS JOURNAL • APRIL 2022

NEXT ISSUE

SPECIAL SECTION

As Business Grows, ‘Chimney Heroes’ Owner Builds His Own Training Facility

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

Healthcare Financial Planning / Investments Building Trades Publication Date: June 16, 2022 Call Today To Reserve Space

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

GLENS FALLS BUSINESS JOURNAL

GLENS FALLS BUSINESS JOURNAL 2000 Business Of The Year

Adirondack Regional Chamber Of Commerce P.O. Box 766 • Saratoga Springs, New York 12866 (518) 581-0600 • Fax: (518) 430-3020 • www.glensfallsbusinessjournal.com

Editorial: RJDeLuke@glensfallsbusinessjournal.com Advertising: HarryW@glensfallsbusinessjournal.com Publisher & Editor Harry Weinhagen Associate Editor R.J. DeLuke Editor Emeritus Rod Bacon Sales and Customer Service Harry Weinhagen Production Manager Graphic Precision Contributing Writers Susan Campbell Jill Nagy Jennifer Farnsworth Christine Gaf Andrea Palmer Paul Post Glens Falls Business Journal is published monthly, the second week of each month, by Weinhagen Associates, LLC and mailed to business and professional people in Warren and Washington counties.

Glens Falls Business Journal is independently owned and is a registered tradename of Weinhagen Associates, LLC, P.O. Box 766, Saratoga Springs, New York l2866 (518) 581-0600. Glens Falls Business Journal is a registered tradename in New York.

Glens Falls Business Journal has been founded to promote business in Warren and Washington counties 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 Glens Falls Business Journal which are the creative effort of its contractors, and printing materials supplied by Glens Falls Business Journal are the property of Glens Falls Business Journal and may not be reproduced by photographic or similar methods, or otherwise, without the specific authorization of Glens Falls Business Journal.

Jamie Wallace, right, owner of Chimney Heroes, is inside his new training facility for employees in Ballston Spa with installers Michael Wager, on the ladder, and Tyler Delsignore.

Chimney Heroes, a chimney services company based in Ballston Spa, has been experiencing a series of growth spurts over the past several years, according to president Jamie Wallace.

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

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

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

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

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

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

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

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

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

Chimney Heroes offers a variety of other services. They perform masonry work, dryer vent cleaning and gas fireplace and stove cleaning and installation. The company also sells wood burning and gas fireplaces as well as wood, gas, and pellet stoves. His service area extends south to Albany and north to Warrensburg.

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

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

There is no worker’s comp for business owners. “There’s nothing that protects you if you get hurt and can’t run your business,” he said.

“That’s when there was a shift in my focus. I realized I had created a really nice job for myself, but I didn’t have a business.”

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

For more information, visit chimneyheroes. com.

More To Read . . . More Leads For You.

(518) 581-0600 GLENS FALLS BUSINESS JOURNAL

GLENS FALLS BUSINESS JOURNAL • APRIL 2022 • 5

Restaurateurs Can Meet With Local Food SBA Will Provide More Deferment Time For Producers At ‘Taste NY’ Event On April 28 COVID Disaster Relief Loans Repayment

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

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

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

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

This showcase will be the third businessto-business food show organized by the Lake George Regional Chamber of Commerce.

The Adirondack Region Food and Farms Business Expo was held at SUNY Adirondack in December 2019 followed by a first-of-itskind Virtual Taste NY Producer Showcase in October 2020 which featured 60 producers in a fast-pitch virtual environment.

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

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

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

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

Courtesy Taste NY

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

For more information and to register, contact the Chamber at 518-487-0045 or visit www.lakegeorgechamber.com/tasteny There will be representatives from Taste NY and the Lake George Regional Chamber of Commerce at the networking breakfast 8 -11 a.m.

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

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

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

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

It has also helped the farms and companies participating in the program to reach more customers, increase online sales, and, in many cases, expand the processing capacity of their business. Taste NY’s food and beverage businesses also support the state’s farmers by using New York grown and produced ingredients in their products.

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

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

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

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

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

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

regular payment reminders via email.

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

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

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

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

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

Nic Ketter Principal Broker REALIZE Brokers & Consultants Reads

6 • GLENS FALLS BUSINESS JOURNAL • APRIL 2022

SPECIAL SECTION

GLENS FALLS BUSINESS JOURNAL

Entrepreneurship

‘Finders Keepers’ Consignment Shop Owner Opens A Second Store In Queensbury Plaza •

Kyleen Wade is the owner of Finders Keepers consignment shop. After 19 years in Glens Falls, she opened a second store in mid-March in the Queensbury Plaza on Upper Glen Street.

JILL NAGY Finders Keepers, Kyleen Wade’s second hand shop, sells clothing and “anything that a woman surrounds herself with to look beautiful,” she says.

After 19 years in Glens Falls, she opened a second store in mid-March in the Queensbury Plaza on Upper Glen Street.

Wade sells clothing, jewelry, mirrors, purses, shoes, and other objects, most of it on consignment. She also offers “a little bit of furniture, but it’s hard to keep in the store.”

Recently, she added men’s clothing to her stock. From time to time, she gets antiques to sell.

She said “people are finding me and refinding me,” as old customers return and new ones arrive. Business “is great. It’s wonderful.

It’s everything I could have dreamed of.”

The new store is about 4,500 square feet, considerably bigger than the tiny shop she began with in Glens Falls. At the time, she was living in Vermont and she learned of the availability of a turnkey business on Glen Street in Glens Falls selling “used stuff.” She bought the business, added a lot of product and “it was all gone in a week.”

Later, she moved to the former Shirt Factory on Broad Street and began advertising for merchandise to sell on consignment. She advertised it as an opportunity to recycle and “find homes for the wayward.”

“It was my pitch on how to save the world,

one shirt at a time,” she said. Her Glens Falls store is now at 206 Glen St. and still thriving.

She shares proceeds 50/50 with consignees.

Wade first became interested in the consignment business as a college student. She wrote a research paper about it for a business law class. The paper concentrated on the legal and business aspects of the consignment model but it whetted her appetite for the less theoretical aspects of the business..

Wade now divides her time between the two outlets and is assisted by five employees. She finds Queensbury Plaza a comfortable location with “a lot of like-minded businesses.”

She and her husband, Adam York, a contractor and painter, spent “hours and hours” refinishing the floors and they painted the store in shades of maroon, gold, yellow, and gray. Her husband built dressing rooms. He was, she said, “the brains behind the renovation.”

The store also has the pandemic accoutrements of plexiglass shields, masks available and “hand sanitizer everywhere” Wade had to close down for a few months early in the coronavirus pandemic. However, with people at home cleaning out their closets, she had no shortage of things to sell after reopening.

Finders Keepers is open from 10 a.m. to 6 p.m. Monday to Saturday and from noon to 4 p.m. on Sunday. Information is online at finderskeepersny.com. The telephone number is 518-761-5475.

Business Report Achieve Your Entrepreneurial Vision

BY CHRISTY ALEXANDER Small businesses are key contributors to the vibrant communities that people want to call home.

Fortunately, entrepreneurship in the U.S. is on the rise. But for these new businesses to have an impact, they must survive, and by focusing on some key areas, entrepreneurs can have the best possible chance to reach their goals and build thriving, sustainable businesses.

Entrepreneurship can be rewarding, and thoughts of independence are exciting, but the life of an entrepreneur isn’t a good fit for everyone. The truth is that running your own business is hard. It can mean long days of solving problems and taking responsibility for endless decisions. Conquering these obstacles requires passion and relentlessness.

The first thing you can do to set yourself up for success as a hopeful entrepreneur is to carefully decide whether you’re ready, willing, and able to accept the challenges of entrepreneurship.

With so many challenges to manage, it’s easy to go adrift, so having a clear vision to guide you is critical. You need to develop a clear image of what you want for your business and your life. It is this clarity that will help you stay on track when you must make tough decisions, and a compelling vision that will inspire others to join you in pursuit of your goals.

Even with a clear vision, you’ll be required to wear many hats in your business. It can be draining, and you will be better off playing to your strengths than trying to work on your weaknesses.

Assess your abilities and identify the tools you will need for success.

It can be tempting to wait until you begin earning revenue before investing in the tools and team to help you operate your business. But offloading your most burdensome chores and automating recurring tasks can ensure quality results and free you to focus your strengths where they will have the greatest impact. Don’t think of it as an expense but rather as an investment in your success.

As important as it is to self-assess, it’s just as important to understand who you’re serving.

Every entrepreneur is in the customer service business, and identifying your ideal customer is essential for your success. Since your customer will drive your decisions about the products you offer and your pricing, a clear description of your ideal customer will help you provide them with products and services that they will truly value and pay for.

Where you choose to operate your business can also impact your customer service. Working from home with family, pets and everyday distractions

Christy Alexander, founder of WorkSmart Coworking & Meeting Space in Glens Falls.

Courtesy WorkSmart Coworking & Meeting Space

can quickly become a productivity disaster, so it’s important to have an efficient place to focus on your work.

Your workspace should be a place that energizes you and inspires out-of-the-box thinking. Family and friends don’t always understand your passion, but other entrepreneurs do, so connect with them in a local business incubator or coworking space.

This is how you can surround yourself with diverse perspectives, collaboration opportunities and likeminded people who motivate you.

In an age of digital communication, it has become too easy to forget the value of connecting face-to-face. Sure, the rise of work-from-home culture has made many of our interactions more casual, but every meeting is an opportunity to build credibility.

It is important to present a professional image to customers, partners, and investors. Don’t risk your reputation by holding make-or-break meetings in a coffee shop. Use a professional meeting space to elevate your business and build more fruitful relationships so your business can thrive.

Without doubt, starting a new business is a challenge. But if you are built for it, the challenges of entrepreneurship can be professionally and personally rewarding. Building a business is an opportunity to provide for your family as well as contribute to the vibrancy and economic strength of your local community.

If you believe in an idea that customers will value and you are ready for a life of entrepreneurship, congratulations! Build your business with self-reflection, customer focus and the right surroundings to give yourself the best possible chance at achieving the success you deserve.

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GLENS FALLS BUSINESS JOURNAL • APRIL 2022 • 7

Tyler Herrick, Zack Moore Enjoying Their Noon Whistle Deli In Queensbury Will Entrepreneurial Efforts In Glens Falls Region Have New Ownership, Few Changes, In May

BY PAUL POST Queensbury Hotel is already getting calls for large, sell-out conferences in 2024 and 2025, two months before the highly anticipated mid-June opening of its new $3.8 million grand ballroom.

The 5,200-square-foot addition with state-ofthe-art kitchen facilities, located to the right of the building’s rear entrance, could be a major game-changer for downtown Glens Falls by hosting multi-day events for hundreds of people who would likely visit restaurants and retail shops throughout the city.

“This hotel can be an incubator for other businesses,” general manager Tyler Herrick said. “That’s always been part of our mission with doing this project. When we have 300 to 400 guests that’s 300 to 400 people that are looking for stuff to do and walking around. That obviously helps everybody.

“I would hope some of our midweek conventions bring people who want to go to WorkSmart (Coworking & Meeting Space) because they want to get out of their hotel room or relax at places like Spot Coffee. Like they say, a rising tide lifts all ships. Right now I think Glens Falls is on a good wave.”

The ballroom is just one of several entrepreneurial ventures Herrick and Zack Moore, both 41, are pursuing as co-owners of Spruce Hospitality Group, which manages Queensbury Hotel and Fairfield Inn & Suites at Northway Exit 18 in Queensbury. The Fairfield opened in September 2019, affording guests easy access to Saratoga Springs, Lake George and Glens Falls.

Both lodging establishments are owned by Moore’s father, Ed, who also owns the Sawyer Building directly across from Cool Insuring Arena, along with French Mountain Commons and Lake George Outlet Center on the Million Dollar Half-Mile (Route 9) in Queensbury.

“We love this community, we’re thankful to live and do business here,” Zack Moore said.

In January 2021, he and Herrick also signed a three-year agreement to manage food and beverage, special events and catering for Ticonderoga Golf Course’s new clubhouse that opened last spring, replacing a structure that burned four years ago. The site features Seymour’s Restaurant, a year-round fine dining establishment, and the Tap Room, a bar with outdoor seating on the lower level.

“We’re all one big family, but Ticonderoga Golf Course is really our first project at a facility not owned by Ed,” Herrick said. “It’s our first time stepping out and doing something on a truly third-party management agreement.”

Plans call for hosting both on- and off-site special events at places such as Fort Ticonderoga’s new pavilion, in Hague and perhaps even Silver Bay Association.

“We’re always fielding calls, having meetings with people, constantly looking at things,” Herrick said.

Previously, he and Zack Moore consulted with Glens Falls businesswoman Elizabeth Miller to help get the newly-renovated Park Theater and Doc’s Restaurant open in Glens Falls. “Feasibility studies and market research things lead to other projects,” Herrick said.

He said they’ve even been contacted about potential projects in Hudson, whose historic business district has a variety of trendy shops

Zack Moore, left, and Tyler Herrick, in front of construction at the Queensbury Hotel.

Paul Post

and antique stores.

“We’re always kicking the tires,” Moore said.

Herrick, originally from suburban Boston, formed Spruce Hospitality with Moore in 2016 following 13 years at The Sagamore Resort where he became assistant general manager after starting out as front desk clerk.

They’ve been intimately involved with all aspects of the Queensbury Hotel’s renovations, which began shortly after Ed Moore’s purchase of the 125-room landmark in 2016. The hotel was previously owned by Maryland-based Real Hospitality Group.

The Moores and Herrick immediately set about restoring the Queensbury, which first opened in 1926, to its former grandeur. “The next thing was reconnecting the building back to the community. Sixty years of non-local management and ownership really changed what this building was to its residents,” Herrick said.

Groups such as Kiwanis, Rotary and Lions meet there regularly and the hotel partners with entities such as the Chapman Museum, Crandall Public Library and Prospect Child & Family Center on special events, he said.

Queensbury Hotel is now entirely booked almost every weekend of the year, Herrick said.

It’s hoped the new ballroom’s much bigger space will boost midweek business by attracting groups and associations that hold events such as trade shows or continuing education classes.

The New York State Association of Police Chiefs is slated to use the new venue in late July with nearly 400 people on hand. All hotel rooms are sold out with overflow going to Fairfield Inn & Suites.

Numerous weddings are also scheduled from August well into fall.

The new ballroom more than doubles the number of people able to attend plated dinners in one room, from 200 to nearly 450 guests. The addition also has a large pre-assembly hallway area where people can gather for cocktail parties before entering the dining area.

For events such as trade shows, where dinner tables aren’t needed, the ballroom can handle from 650 to 700 people.

Continued On Page 16

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Julie and Jedidiah Murphy will be the new owners of Noon Whistle Deli. The eatery will close briefly on April 29, and undergo a ‘quick makeover’ in time for the Murphys to re-open.

Courtesy Julie and Jedidiah Murphy

BY JILL NAGY Noon Whistle Deli, at 15 Lafayette St. in Queensbury will close on April 29. But, it will reopen under new ownership on May 2, the following Monday.

In between, the new owners, Julie and Jedidiah Murphy, will do “a quick makeover.”

For the most part, the 27-year-old sandwich shop will remain the same. The new owners will reorganize the kitchen “to fit our operating style” and change the flow of the counter, according to Jedidiah Murphy. They will also give the place a paint job.

The business is in good shape, Murphy said, and they will make few changes. In fact, the present owner, Jackie Fosco, will bequeath to them her soup and salad recipes and instructions for the deli’s signature sandwiches: the accountant, the banker, the firehouse, the lumberyard, and six others.

The Murphys will extend the hours that the deli is open and also open on Saturday. They plan to end breakfast service and concentrate on the lunch business.

“We hope the clientele will follow us over,” he said.

The Noon Whistle Deli is across the street from Queen of Harts Pizza, also owned by the Murphys and operated by Julie Murphy. They opened the pizza restaurant in 2016 and, so far, “It is doing well. We are very fortunate,” Murphy said.

It will remain open under Julie Murphy’s

management and her role at the Noon Whistle will be largely behind the scenes: bookkeeping, ordering and the like.

Day-to-day operations at the Noon Whistle will be in the hands of Dan Young and Briana Willigan. Young is, among other things, the soup chef and Willigan is the baker. The Murphys hope to retain the rest of the current crew and possibly add one or two part-time workers to make deliveries.

Fosco is selling because, “After 17 years, I am just tired and want to try something new,” she said.

She hopes to find work as a teacher aide in the Queensbury school system, preferably working with special education students. She has worked at Noon Whistle since 2005 and owned the business since 2010.

Noon Whistle is primarily a take-out operation, with some delivery service. Murphy said they will increase delivery service and, in time, may add sit-down service. They are awaiting permission from the town for that, he said.

If they do make the change, Murphy can build the necessary new furniture. He owns a small contracting firm called Chores and More.

Both Julie and Jedidiah Murphy are North Country natives. Julie was born and raised in Queensbury. Jedidiah has lived in Queensbury since 2008. He grew up in South Glens Falls.

The telephone number of the Noon Whistle Deli will remain 518-798-6666.

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8 • GLENS FALLS BUSINESS JOURNAL • APRIL 2022

SPECIAL SECTION

GLENS FALLS BUSINESS JOURNAL

Home / Real Estate

•

Business Report How Wide Is Your Perspective?

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

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

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

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

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

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

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

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

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

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

According to GCAR we currently sit at 1.3

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

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

Courtesy Steven Luttman

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

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

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

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

Did you miss the bottom? Almost certainly yes. It’s hard to envision an environment conducive to that sizable of a retreat. However, let’s not be in the business of trying to time financial markets. That’s for day traders and that sounds exhausting.

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

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

BY CHRISTINE GRAF As demand for new homes surges throughout the country, supply shortages and price increases continue to plague the construction industry.

According to the National Association of Homebuilders (NAHB), more than 90 percent of builders experienced materials shortages and delays in 2021.

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

Economists predicted that supply chain shortages and material costs would begin to ease, but that was before Russia invaded Ukraine.

Experts say the war in Ukraine will disrupt supply chains and further exacerbate shortages and price increases. The increase in oil and gas prices that have resulted from Russian sanctions will also impact production and transportation costs.

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

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

“Our specialty is building custom homes with

modular construction. We are typically doing porches, and garages, and decks, and higher end finishes. What’s unusual about us is that we design every home from scratch for the customer. We can customize it right down to the bathroom faucets.

We are the only builder that I know of in this region and one of the few in the northeast that do what we do.”

In the past 12 months, Provost said new home prices have increased more than 20 percent.

Over the course of the last two years, they have increased as much as 35 percent.

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

Modular home lead times have increased from eight to 10 weeks to five months or more. Some modular home factories are already totally booked for the entire year.

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

Building material lead times vary significantly by product. For example, Provost said the lead time on Andersen Windows has increased from three weeks to between 12 and 39 weeks. Garage doors have a lead time of four to five months, and kitchen cabinets have a lead time of up to six Continued On Page 9

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GLENS FALLS BUSINESS JOURNAL • APRIL 2022 • 9

Cramer’s Point Motel & Cottages Bought By Todd Drake, His 2nd Area Resort Purchase

BY PAUL POST Todd Drake is recapturing a popular period in Lake George summer tourism with the purchase and upgrade of two mid-20th century type resorts on Lake Shore Drive.

He recently purchased Cramer’s Point Motel & Cottages, 3382 Lake Shore Drive, recently sold for $1.275 million. That follows last year’s $915,000 acquisition of Adirondack Diamond Point Lodge, 3629 Lake Shore Drive, which underwent a more than $300,000 makeover.

“The purpose of buying these properties is to maintain them as 1950s-style resorts with modern amenities in excellent condition and quality,” Drake said. “Instead of tearing down and replacing these places with condominiums, townhouses or a $7 million lake home, I see it as my job to maintain this tradition so people have a place to go that’s reasonable, affordable, quality, but fun for the kids and adults offering amenities like shuffleboard—which you don’t see much anymore—or a nice pool deck under the trees, fire pits and barbecues. It’s the outdoor Adirondack-style vacation.”

He purchased Cramer’s Point from Francis and Marion Sause, who owned the business for nearly 30 years.

Drake wants to provide the type of experience people can’t find at major brand-name, corporate-owned hotels.

He owns a Watervliet-based construction firm, CornerStone Building Corp., and Empire Real Estate Management, which specializes in long-term apartment rentals at sites such as Remsen Place, a four-story residential, office and retail building that opened two years ago in Cohoes.

The two Lake George resorts fall under the umbrella of a different business he owns called Adirondack Lodging Co., which includes rustic-style Moreno’s Cottages in Ray Brook, campgrounds in Crown Point and Chestertown, and several short-term vacation rental homes.

Drake learned that Cramer’s Point was for sale last year, but the timing wasn’t right. Then things changed.

“And now with the experience of renovating the (Adirondack Diamond point Lodge) I could tell this property offered value,” he said. “It needed upgrading, but less in terms of expense.

Time is money as well as money is money.

Looking at this project we felt we could do something similar with less upfront costs and time. That’s why we decided to pursue it.”

Cramer’s Point Motel & Cottages has a sevenbedroom home, 10 seasonal cottages, eight motel rooms and two suites. It is about a mile south of Adirondack Diamond Point Lodge. The two resorts are similar in size, but offer different amenities. Cramer’s Point has two pools and beach access.

Drake spent considerable time in Warren and Essex counties, pursuing year-round outdoor activities, while growing up in Clifton Park. He first learned about Adirondack Diamond Point Lodge about 20 years ago. Last year, he saw an opportunity that was too good to pass up, he said.

That property has seven cabins plus the 16room main lodge.

“We closed on it in mid-April 2021 and really had to put things in high gear to be open for Memorial Day,” he said. “It was neglected for many years. We spent a considerable sum of money replacing all the furniture, a lot of the flooring and did the whole exterior over again, everything from windows, doors and roofs to top-level lawn furniture.”

In addition, all housekeeping material such

Cramer’s Point Motel & Cottages, 3382 Lake Shore Drive, for $1.275 million. linen and bedding was tossed out and replaced, Drake said. “But we kept it in the price point of expectations for a mom-and-pop resort.

It was very well-received by guests. We did a considerable amount of business over what the previous owners did. We also enjoyed very good feedback and return rate for people coming back last fall or this summer.”

The job got done despite difficulty obtaining materials and supplies caused by COVID-19, and an ongoing statewide and nationwide labor shortage problem.

“We brought the marketing to a modern level with a strong website and reservation system that was very user-friendly and interactive,” Drake said. “But what really mattered was the service.

We took time with each customer, telling them how we could best accommodate their party, group or event. You don’t see that today with 1-800 systems.”

“By bringing the quality up, I think we attracted a new audience that was looking for quality, which made a difference. That said, we did have a lot of returners who had reserved from prior years. Their reaction was nothing short of astonishment,” he said.

The properties are located between Lake George and Bolton Landing. Either site gives out-of-town people a place to stay for large family gatherings, such as a wedding or reunion, without encroaching on local relatives.

“We’re very popular with Capital Region and Hudson Valley guests as well as Central and Western New York,” Drake said. “That’s about one-third of our business. The other two-thirds is from Connecticut, New York City, Long Island and New Jersey.”

During peak season, cabins at Adirondack Diamond Point are booked for three- or fournight minimum stays, while rooms have twonight minimums. “People with families coming from farther away tend to stay longer and stay in cabins or a large multi-room suite with full kitchens,” Drake said.

“I do have accommodations like our king suites or smaller cabins that lend themselves well to people getting away to boat, motorcycle, hike or shop in outlets. Our biggest demographic is middle-aged people who want a low-key place that doesn’t break the bank.”

Cramer’s website is www.cramerspointmotel. com. www.cramerspointmotel.com. Adirondack Diamond Point Lodge can be found at www. adirondackdiamondpointlodge.com.

Supply Shortages Continued From Page 8

months.

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

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

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

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

“I tell everybody that my crystal ball is just destroyed right now. I can give them my best guess and hope, but there are just so many factors that are out of our control,” said Provost. “We’re ordering materials in March for jobs that we are

going to start in September. It used to be that if we were starting a job in September that we would order materials in July or early August. The early stage planning is just so much more intense now.”

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

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

“Our demand is completely off the charts in the last 12 months, and I don’t see any end in sight,” he said. “A lot of that has to do with the strength of the economy in the Capital District. Industry wide, there is such a shortage of new construction and there has been for years. And now there is a shortage of labor as well. Finding labor is an enormous challenge.”

Before COVID, his company was building between 16 to 18 homes a year. Demand has increased dramatically, fueled in part by high demand for vacation and lake front homes. People who are now able to work from home are moving to the area in increasing numbers.

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

Adirondack Institute Presents Two Musicals

Zigzag

by Neal Herr

May 6 - 8

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10 • GLENS FALLS BUSINESS JOURNAL • APRIL 2022

GLENS FALLS BUSINESS JOURNAL

SPECIAL SECTION

Insurance / Medical Services Glens Falls Hospital, Albany Med Recognized Manuel Astruc, M.D., Uses Little-Known As Centers For Excellence For Alzheimer’s Technology To Treat People For Depression

As Centers of Excellence, Albany Med and Glens Falls Hospital serve as comprehensive resources to the healthcare community, providing a myriad of services for Alzheimer’s patients.

The state Department of Health (DOH) has again recognized Albany Medical Center Hospital and Glens Falls Hospital as Centers of Excellence for Alzheimer’s Disease (CEAD), and has awarded $2.35 million to each hospital in state funding over a five-year period.

As Centers of Excellence, Albany Med and Glens Falls Hospital serve as comprehensive resources to the healthcare community, providing diagnostic and consultative services to primary care providers in diagnosing patients, development of comprehensive care plans, assistance with the management of complex patient situations, and referrals of patients to specialty care.

Officials said their membership in the Albany Med Health System will allow Albany Med and Glens Falls Hospital to share resources and educational opportunities, making their services even more accessible to the people of our region and patients of the system, which also includes Columbia Memorial Health, Saratoga Hospital, and the Visiting Nurses Association of Albany.

“Alzheimer’s Disease is such a difficult diagnosis for patients and families – but programs like those offered by CEAD at Glens Falls Hospital and Albany Medical Center offer hope and tangible resources,” said Glens Falls Hospital Interim President and CEO Paul Scimeca. “Once again, the partnership with the Albany Med Health System preserves the local touch so important to the North Country while adding the strength of the region’s only tertiary care and teaching hospital.”

“This designation is reflective of the high level of services both hospitals provide patients and their caregivers,” said Dennis P. McKenna, MD, president and CEO of the Albany Med Health System. “Our ability to leverage both programs’ resources through the Albany Med Health System is a perfect example of the benefit our patients receive with our hospitals working together.”

CEAD designations are awarded through a competitive grant application process.

The CEADs must meet high standards that Continued On Page 16

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

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

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

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

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

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

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

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

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

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

“Their protocols vary,” said Dr. Astruc.

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

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

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

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

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

One side effect of shock therapy is that patients

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

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

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

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

There is no pain associated with treatment.

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

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

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

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

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

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

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

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

We were not made to function that way.”

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

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

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GLENS FALLS BUSINESS JOURNAL • APRIL 2022 • 11

•

Business Report IRA Distributions For Hybrid Long-Term Care

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

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

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

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

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

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

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

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

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

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

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

The strategy: Jessica decides a hybrid longterm car policy would best fit her needs. Once claims qualifications are met, full LTC benefits

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

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

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

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

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

Should Jessica need to use her LTC benefits, and upon claims qualifications being met, Jessica will receive a monthly tax-free LTC benefit of $6,000 for six years. Even if all the LTC benefits are used, there is a minimum death benefit guaranteed which would pay a residual death benefit of $28,000.

This example highlights how qualified assets can be repositioned to provide significant longterm care benefits without the risk of losing the premium dollars if care is never needed. As our population ages, the strain on the healthcare system will only become more strained, putting increased pressure on public financing options.

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

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

“This is an incredible opportunity for those interested in this rapidly growing field to get the training they need to secure a fulfilling, in-demand career,” said Caelynn Prylo, assistant dean for Continuing Education and Workforce Innovation at SUNY Adirondack.

“SUNY Adirondack knows Saratoga Hospital needs skilled, highly trained applicants, and we are thrilled to be able to provide them.”

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

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

Interested individuals must be at least

Expert electrical service.

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

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

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

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

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

To learn more about WRAP Reimagine Grant, visit www.sunyacc.edu/great-futureshigh-demand-careers-start-here. To find out if you qualify for the free training programs, visit form.jotform.com/220183711247146.

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12 • GLENS FALLS BUSINESS JOURNAL • APRIL 2022

REGIONAL STOCKWATCH Stock Name

Closing Price 3/4/2022

Closing Price Closing Price 3/11/2022 3/18/2022

Closing Price 3/25/2022

Closing Price 4/1/2022

Albany Int’l

85.43

84.09

86.99

87.47

85.81

Arrow

34.76

34.01

33.79

33.36

32.26

AT & T

23.87

23.19

23.22

23.84

23.98

Ball

90.20

85.56

93.00

94.23

89.22

Ballston Spa National Bank

51.34

51.67

51.67

51.67

51.67

Bank of America

40.95

40.33

42.90

43.73

40.90

Best Buy

106.10

94.59

101.84

96.30

90.38

Citizens Bank

48.17

46.88

49.25

48.70

44.19

Espey

13.00

13.05

13.70

14.15

13.86

General Electric

89.06

92.28

95.59

94.02

92.49

Hilton

137.67

141.77

151.79

151.50

150.71

Home Depot

324.26

316.79

340.74

310.68

301.89

Int’l Paper

42.21

42.23

45.01

46.32

46.30

Key Corp

23.22

22.92

23.93

23.89

21.66

Lowe’s

224.07

222.21

235.71

212.92

202.40

Martin Marietta

374.93

370.88

385.73

393.94

385.06

M&T Bank

176.22

172.22

179.29

183.57

164.66

McDonald’s

235.81

226.87

238.92

241.58

249.25

National Grid

74.08

72.72

74.98

74.89

77.02

NBT Bancorp Inc.

38.30

38.30

37.89

37.35

36.66

Plug Power

23.07

24.44

26.15

27.95

28.34

Quad Graphics

6.67

5.57

6.16

6.70

7.03

Starbucks

90.03

82.73

89.60

87.45

91.49

Sysco

84.96

77.82

81.24

80.91

82.41

Latham Group Inc

15.05

14.80

15.41

13.59

13.64

Target

224.10

206.97

226.05

218.61

210.54

The TorontoDominion Bank

77.45

76.96

80.92

81.71

79.50

Kaspien Holdings

7.58

7.10

8.28

7.37

7.08

Trustco Bank

33.45

33.71

32.85

32.60

32.39

Verizon

55.11

53.04

50.80

51.28

52.12

Walmart

142.82

142.07

145.44

143.45

151.01

This list of quotations is provided through the courtesy of Robert M. Schermerhorn, CFP®, Saratoga Financial Services, Securities offered through LPL Financial /Member FINRA & SIPC, located in Saratoga Springs, NY. www.SaratogaRetire.com

Officials In Region Work On Ways To House Temporary Workers Vital To The Economy

BY JILL NAGY Close to 900 university students are expected to arrive from overseas in the next few weeks to work at Lake George area hotels, restaurants, and resorts. Business people stress they all need housing, something that is always an issue but appears to be worse this year.

Several properties that were previously available for students have been sold or rented to other summer visitors, according to Gina Mintzer, executive director of the Lake George Regional Chamber of Commerce.

The Chamber is always on the lookout for available motel rooms, cabins, campsites and the like, especially properties with accessible public transportation, she said. They pass on the information to the students who, she pointed out, “are used to paying for housing.”

Usually, though, “before we know it, it’s already gone,” she said.

“The students are looking frantically,” she said. Some “couch surf ” with fellow students until they can find places of their own. “We try to make sure they are safe.”

One such employer, Lake George Steamship Co., tendered employment offers that were accepted by 22 students.

“I hope they can get here,” said Bill Wilson, who is in charge of food and beverages for the company. He uses two recruiting companies to assist him in finding student employees.

He reviews resumes and listens to prerecorded interviews online.

The steamship company itself does not provide housing. However, Wilson is aware of some viable apartments behind the Lobster Pot restaurant on Canada Street and some cabins on Route 9—three miles away on busy Route 9 with no public transportation available.

The students, according to Mintzer, come from “all around the world.”

In 2019, the last summer before COVID travel restrictions, employees came from 53 countries. In a typical year, there are close to 1,000 of them, she said.

Lake George employers also hire local young people, both high school and college students. Mintzer said there is a slight preference for the international students because their schedules are more flexible and they can stay on into the fall—sometimes beyond that. In fact, she recalled some students who worked through the winter and are back for this summer.

The housing shortage is partly the result of boom times in the Lake George area. Mintzer noted that Lake George had a very good season last year and she expects the same this year. Rooms that used to be available for students have been rented to others, usually for more money.

She is aware of several properties near Bolton Landing that used to house students

that have recently been sold. In short, she summed up, “it’s a tighter situation than in the past.” “We need more inventory.”

There has been some discussion of the town and village buying and rehabilitating old motels for student use or building dormitories. However, there are no current plans in place to do that.

Future plans may require grant money to pay for the purchase of vacant property along Route 9 between the village and the outlet stores.

However Jim Siplon, EDC Warren County CEO and president, thinks that the situation for this summer’s student workers in Lake George is, pretty much, under control. “The right people are working on it,” he said.

After a two-year hiatus, it was necessary to “reopen the pipeline” and start bringing international student employees to Lake George again. The next problem was finding housing for them. In the short term, this summer’s student workers have to be housed.

“They have a handle on that.”

Beyond the immediate housing emergency, he sees a larger issue for the region. Midterm, he noted, there is a need for a more enduring home for hospitality workers in Lake George.

The next set of discussions, he said, has to bring in other entities. “This is not just a hospitality problem,” he said. Housing is needed for other temporary workers coming into the area—such as traveling nurses, other short-term medical personnel, farm workers, and others who are part of the economy but not part of the permanent population.

“The need is universal, not just Lake George and the Great Escape,” he said, “It’s one giant regional challenge.” He sees it as a long-term problem as the size of the workforce shrinks.

Michael Bittel, president and CEO of the Adirondack Regional Chamber of Commerce, agreed with Siplon’s analysis of short-term housing, whether for summer student workers or for other short-term workers and families. It is “a vital piece” of the area’s development needs, he said.

“We have to be able to house people and, more important, attract people to come here,” he said. “It’s an issue all the way around,” not just in Lake George, he noted. “We are all working together to develop short-term and long-term plans.”

Bittel said his organization, the EDC Warren County and the Warren-Washington County IDA are partners in the project.

Bittel noted that there are many issues, such as reviewing zoning regulations and encouraging private builders to get involved.

“We have to see that things are done properly and in good order and quickly ... We are talking about standard, not low-income, housing.”

GLENS FALLS BUSINESS JOURNAL • APRIL 2022 • 13

Study: Most New Yorkers Feel Ukraine War NYS Liquor Authority Accepting Permits For Will Lead To Long-Term Economic Problems Craft Brewers To Sell While License Pending Some 54 percent of New Yorkers say the war in Ukraine and the international response to it will lead to long-term economic problems resulting in financial difficulties that all Americans will face for years, according to a new statewide survey of consumers by the Siena College Research Institute (SCRI).

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

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

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

In response to price increases due to inflation, 69 percent will buy less in general, 67 percent will buy less expensive items and 28 percent plan to dip into savings to pay for everyday expenses.

Over a third, 35 percent plan to get a second job or generate another source of income while 34 percent now say that they will postpone or cancel a vacation in the next six months.

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

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

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

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

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

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

Juckett Award

Continued From Page 1 “Carl Baker exudes all that the J. Walter Juckett award stands for. Carl’s passion, commitment, and leadership in our region is second to none. The ARCC is blessed to bestow this lifetime achievement award to Carl,” said ARCC President Michael Bittel.

Baker’s contributions to our community include service on multiple boards, councils, and committees including: Kiwanis Club of Glens Falls; Glens Falls Kiwanis Foundation; board of governors of Glens Falls Hospital; Planned Giving Council of Glens Falls Hospital; Glens Falls Hospital Foundation; Widowed Persons Service of Greater Glens Falls Area; Compre-Care Inc; Glens Falls YMCA Legacy Club Committee; WAMC Gift Planning Advisory Committee.

Born in Gloversville, Baker went on to pursue a career practicing law, achieving a B.A. from Cornell University in 1973, then his J.D. from Albany Law School in 1978. He was admitted to the bar in 1979. Baker is married

to Sandra Stoffolano and has two children, Christopher and Jessica. He is a founding shareholder of FitzGerald Morris Baker Firth PC, and former managing partner and current head of the firm’s Trusts and Estates practice group.

His professional achievements include authoring multiple publications, lecturing for the New York State Bar Association (NYSBA) Continuing Legal Education (CLE) programs and chairing several of its CLE programs. In 2013 he led the 4,000-plus members of Trusts and Estates Law Section of the NYSBA as the Section Chair and in 2015 he was elected to the American College of Trusts and Estates Counsel, among other lawyering awards.

The J. Walter Juckett Award, named in honor of the longtime chairman of the Sandy Hill Corp., was created 33 years ago to recognize and honor a deserving member of the community who has selflessly gone above and beyond by contributing time and energy to help others.

Washington County New Business Registrations MARCH Fortunate Ewe Farm 910 King Rd. Cambridge, NY 12816

Virtue Lawn Care 54 Burgoyne Ave. Fort Edward, NY 12828

Kelly Omalley 12 Driscoll Way Cambridge, NY 12816

Hali Winch Intuitive Healer 10376 State Route 22 Granville, NY 12832

Son Rise Prpoerty Management 14160 State Route 22 Dresden, NY 14441

On Call Cleaners 183 Darfler Rd. Granville, NY 12832

L N B Mobile Detailing 76 Buttermilk Falls Rd. Fort Ann, NY 12827

Brookside Farmhouse 3991 County Route 30 Hebron, NY 12865

Two Busy Dusters 1187 Baldwins Corners Rd. Fort Ann, NY 12827

Jurnaks Vintage Repair 76 Higgins Rd. Hebron, NY 12832

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

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

The permits allow businesses to manufacture and sell alcoholic beverages for a period of six months, or until the full application is approved, for a fee of just $125. The new permits may be extended for a three-month period for an additional $50 fee if necessary.

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

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

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

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

beverage industry, and these fast-tracked permits will no doubt help ensure this trend continues,” he said.

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

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

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

Additionally, in the last year twenty-eight farm-based manufacturers have extended their footprints by opening new, no-fee, offsite retail locations across the state in the last year alone, a 17 percent increase over 2021. These branch stores, which now number 198 statewide, allow farm manufacturers to sell their own products, in addition to any other NYS labeled product by the glass or by the bottle to consumers at an offsite location.

Dockside Marina

on to successful, local entrepreneurs like Paul Bricoccoli, Jason Krogmann, Dave Krogmann, and Scott Endieveri. I think their teaming up with Rich Stolen and Scott Olson will take the marina to the next level. I wish them all many prosperous years ahead.”

“This is a new adventure and there will be somewhat of a learning curve for us this summer but we’re very excited to work with Scott, Rich, and Stephanie who will continue to lead the day-to-day operation and keep us on our toes,” concluded Bricoccoli Jr. The on-site condo features two bedrooms, a den, one-and-a-half baths, a full kitchen, living room, dining area, a natural stone fireplace, washer and dryer, dishwasher, fresh linens and towels and WIFI. The marina website is www.lakegeorgeboats. com.

The phone number is 518-543-8888.

Continued From Page 1

is just an awesome thing for us personally,” said Endieveri. “All of Lake George is beautiful but the northern end in particular is not quite as developed, so it’s just that much more pristine.”

Said Krogmann, “The business has done really very well over the last few years. Boat rentals have been up, even last season with a stretch of cold, rainy weather. The rental upstairs is booked for the whole season. Every year, the former owners had put aside funds for capital improvements which we plan to continue doing as well. There is a second building above the docks right now that is being used for storage. That second building has good potential to be developed into something more.”

Whittemore said Dockside Landing Marina “was a good investment that I am thrilled to pass

14 • GLENS FALLS BUSINESS JOURNAL • APRIL 2022

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Great Escape

Continued From Page 1 “That means those visitors, whether to the park and-or the Lodge also enjoyed other aspects of the region such as shopping, dining, things to do both indoors and out,” said Gina Mintzer, Lake George Regional Chamber of Commerce executive director. “All of these add up to significant economic impact when you put a dollar figure to each person’s spending.”

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

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

The theme park and Lodge & Indoor Waterpark employ up to 1,500 people at peak times.

The firm recently filled hundreds of summer positions such as lifeguards, food and beverage staff, and ride operators during a pair of lateMarch job fairs.

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

For some positions, such as security and lifeguards, Great Escape pays for required training

and licensing. Employees are also given in-park discounts, free tickets and are treated to special gatherings, when they get to be a theme park guest for a day.

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

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

No new rides have been added, but guests will be greeted by an entirely new front entrance that allows people to start enjoying the theme park much quicker. Old ticket booths have been removed, replaced by a building that houses metal detectors for guests to pass through.

The structure will include rest rooms, a welcome addition for people who have just driven a considerable distance. The redesigned entrance will have nearly 35 percent more green space and a colorful fountain.

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

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

Population Growth

Closed Tuesdays!

Continued From Page 1

Glen Lake 298 Glen Lake Rd., Lake George 1.3 miles from the Light at The Great Escape Check us out on Facebook!

(518) 792-3534 • Open Year Round • docksiderrestaurant.com

in April 2021 using the CapNY brand. The talent campaign works collaboratively across target industry sectors and organizations to attract and retain talented, diverse people who want to live in New York’s Capital Region because of its lifestyle and opportunity.

The CapNY website—GoCapNY.com—and its associated social media channels are key elements of CEG’s talent campaign, which markets New York’s eight-county, millionresident Capital Region as a destination of choice, specifically highlighting its quality of place. To achieve these objectives, CEG is also targeting out of market social media placements, piloting outreach to universities and colleges to engage students and local companies to engage interns, as well as

O’Toole’s Restaurant Pub

Queensbury, NY Whether you’re looking for a relaxed meal or a night of fun and excitement, you’ll want to come to O’Toole’s. We’ve got the best food, drinks and entertainment in the area! Come on in and experience dining at it’s best. We look forward to seeing you.

The Silo Restaurant

Queensbury, NY We hate to brag, but The Silo has a reputation for being one of the best places in the region for breakfast, lunch and delicious cider donuts.

Looking for jewelry and gifts? The Silo is also the area’s largest retailer of Ed Levin Jewelry

Doc’s Restaurant

Glens Falls Area Restaurants Glens Falls and surrounding towns have a variety of casual dining opportunities for every taste, budget and occasion. Find a Glens Falls NY restaurant from the list below.

Park 26

Glens Falls, NY Park 26 is an innovative restaurant that offers locally-inspired, modern American cuisine that’s perfect for a date night, business dinner or family celebration. Located inside The Queensbury Hotel in Glens Falls.

Jack’s American Bistro

Queensbury, NY Jack’s American Bistro was the culmination of a lifetime spent in the restaurant business.

After several months of planning in June 2004 the doors were open to a new dining experience in the Glens Falls/Queensbury area.

Glens Falls, NY Doc’s Restaurant is an upscale restaurant and cocktail bar in the historic Park Theater in Glens Falls, NY. They offer a delicious modern take on classic dishes, along with a handpicked selection of wines, craft beers, and creative cocktails!

The Log Jam Restaurant

Lake George, NY Experience lunch and dinner daily in an authentic log cabin. Enjoy signature sandwiches at lunch and succulent prime rib, juicy hand cut steaks, live lobsters, fresh seafood, chicken, and more at dinner. All entrees include our bountiful salad bar.

connecting regional companies and HR professionals to tools for recruitment.

As the nonprofit regional economic development organization, CEG seeks growth by attracting investment and talent; growing manufacturing and workforce capabilities, leveraging industry clusters, and developing the entrepreneurial ecosystem. It works with partners and stakeholders to prepare the region to compete and move high-impact strategies and projects forward.

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

The Grateful Den

Glens Falls, NY The Grateful Den offers a different take on traditional pub grub, as well as classic favorites like chicken wings, burgers, and salads. Their menu also includes specialty appetizers, sandwiches, and plenty of craft beer options on tap.

Davidson Brothers Restaurant

Glens Falls, NY Located in downtown Glens Falls, NY, Davidson Brothers Restaurant & Brewery is a hotspot for unique craft beer and delicious food in a laid-back atmosphere.

Birch Bark Eatery

Glens Falls, NY Birch Bark Eatery offers a wide variety of soups, sandwiches, burgers, salads, and baked goods - and it’s all 100% plant-based. They also offer catering!

Raul’s Mexican Grill

Glens Falls, NY Enjoy everything Mexican at Raul’s Mexican Grill in downtown Glens Falls, where the ingredients are always fresh and the margaritas always flowing! From the tortilla chips to the tacos to the churros, everything on the menu is created with care.

Courtesy of GlensFalls.com

GLENS FALLS BUSINESS JOURNAL • APRIL 2022 • 15

Available Commercial & Residential Properties

Otis Named Corporate Responsibility Officer, Community Relations Manager At KeyBank •

G LI ST IN Courtesy KeyBank

resourced business owners.

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

She also serves as an advisor to the Upstate New York Black Chamber of Commerce headquartered in Albany.

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Zobel & Co. Kitchens, located at 11 Broad Street in the Union Square Building in Glens Falls, won the Best of Houzz Customer Service award on Houzz, a leading platform for home remodeling and design.

The custom kitchen and cabinetry design firm was chosen by the millions of homeowners that comprise the Houzz community from among more than 2.7 million active home building, remodeling

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

Business Briefs The Adirondack Thunder raised more than $31,000 from its Stick it to Cancer Weekend in late March to benefit the C.R. Wood Cancer Center at Glens Falls Hospital.

With the totals from a 50/50 raff le, a paint the ice event, a postgame jersey auction and other various donations the Thunder raised over $10,000 more than the previous season’s Stick it to Cancer Weekend.

All the funds go to patients in the community to help cover the cost of gas, transportation, and medical copays.

“The staff and patients of the C.R. Wood Cancer Center greatly appreciate the community support during the Stick it to Cancer Hockey Weekend,” said Vickie Yattaw, oncology education and support services manager for the C.R. Wood Cancer Center.

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

N

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

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

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

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

and design industry professionals.

This is the 10-year anniversary of the Best of Houzz awards program, and the eighth consecutive year that Arthur Zobel and Zobel & Co. Kitchens received this award. The Customer Service award honor is based on several factors, including a pro’s overall rating on Houzz and client reviews submitted in 2021. *

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Lake Champlain - Lake George Regional Planning Board (LCLGRPB) is this year’s recipient of the chamber’s Economic Development Partner of the Year Award.

Over the course of 2021, LCLGRPB, which represents five counties—Essex, Clinton, Hamilton, Warren and Washington—helped 209 businesses obtain over $3 million in loans, as well as using $5.1 million in grant funding to help communities throughout the COVID crisis.

In 2020, LCLGRPB was awarded a $2,940,000 Revolving Loan Fund CARES Act grant from the Economic Development Administration to assist small businesses.

The agency said the ADK Small Business Resiliency Fund is there to help businesses that were negatively affected by COVID or are looking for a way to increase their business resiliency.

TARGET CUSTOMERS IN THE COMMUNITY AROUND YOUR BUSINESS.

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

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

16 • GLENS FALLS BUSINESS JOURNAL • APRIL 2022

Hospital Awarded For Excellence

Local Entrepreneurs

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are reviewed annually and provide high quality diagnostic and assessment services for patients with dementia or Alzheimer’s; patient management and care; referral of patients and their caregivers to community services; and training and continuing education to medical professionals and

students on the detection, diagnosis and treatment of Alzheimer’s and dementia.

According to the DOH, 410,000 New Yorkers age 65 and older are living with Alzheimer’s disease. By 2025, this number is expected to increase to 460,000 New Yorkers needing care for Alzheimer’s disease.

The new space is the most ambitious project Queensbury Hotel’s owner and managers have handled to date. But it’s not the last. Plans call for “crowning the Queen” with a rooftop bar, giving guests a birds-eye view of the cityscape set against a backdrop of picturesque Adirondack scenery.

“COVID delayed everything, but it will happen,” Herrick said. “It’s going to be a great feature. When you go up there and watch the sun set over West Mountain, it’s beautiful. Zack and I are both 41 and have young families. We aren’t going anywhere soon. It’s something we both definitely want to get done.”

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

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