Saratoga Business Journal - December 2023

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SARATOGA BUSINESS JOURNAL

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Area Ski Resorts Tout Significant Improvements Saratoga Race Course Slated To Host Belmont To Attract Slope-Bound Vacationers To Region Stakes to Allow for Belmont Park Construction

State-of-the-art snowmaking equipment is an integral part of West Mountain’s upgrades designed to attract winter vacationers to the slopes.

The area will see a significant economic impact when the Belmont Stakes comes to the Saratoga Race Course this summer to allow for construction at Belmont Park.

Coutesy West Mountain

BY PAUL POST Co-owners Spencer and Sara Montgomery, and financial backers, have spent nearly $20 million on capital upgrades since purchasing West Mountain 10 years ago.

In preparation for this winter they’ve added a $500,000 Winch Cat to the large fleet of grooming machines and covered base lodge floors with safe, clean carpeting.

But the biggest investment is in personnel with a new food and beverage director, rental shop manager, snow sports person, full-time ski tuner and a larger, more skilled snowmaking crew.

“It feels like we’re getting some really good professional people in here,” Spencer Montgomery said. “Hiring has been really tough the past three years. Now we’ve got a good overnight snowmaking crew. Really robust, hardworking guys. That

makes all the difference because nights are when you get all your production. Someone always has to be watching the pumps, pressure and guns.”

“Hiring and mild weather were very challenging last year,” he said. “We got through it and this year feels good. We’re looking forward to an awesome season.”

The Queensbury resort plans a Dec. 16 opening to get all the kinks out and be ready for Christmas week.

One of West Mountain’s biggest economic impacts is a $2 million annual payroll. It employs 350 people at peak times and has a full-time, year-round staff of 30.

“We try to provide hourly and salaried fulltime positions now so we don’t lose people in the off-season and then have to try to find good people again,” Montgomery said.

Continued On Page 6

Courtesy NYRA

BY PAUL POST Spa City merchants say track season is like having a second Christmas time because of all the extra business it generates.

Now they’re gearing up for yet another huge windfall with the announcement that Saratoga Race Course will host the June 6-9 Belmont Stakes Festival, which is expected to have a direct $37 million economic impact and generate untold future tourism by creating worldwide media exposure for one of thoroughbred racing’s most historic events.

The third leg of racing’s Triple Crown is moving upstate because of ongoing construction and renovations at Belmont Park in Queens. “That it gives us the opportunity to really showcase our area to people who have never been here before,” said Deanna Devitt, president of the 200-member Saratoga Springs Downtown Business Associa-

tion.

And excitement surrounding the Belmont Festival is expected to generate momentum and boost attendance for the regular, 40-day racecourse season that begins on Thursday, July 11.

“Just very, very excited for this opportunity. We can’t wait,” said Marianne Barker of Impressions of Saratoga, a popular Broadway gift and souvenir shop.

Local business leaders have already begun meeting to make sure Saratoga gets the biggest bang for its buck from this unprecedented opportunity, which Saratoga Chamber of Commerce President Todd Shimkus has likened to the Super Bowl.

“Economically, the reality is that people spend money where they stay and because we cannot accommodate everyone in Saratoga Springs, we Continued On Page 14

JPMorgan Chase Offers Retail Banking Services The Stewart’s Holiday Match Program Runs At Its First Branch Office in Saratoga Springs Through Christmas Day at All Area Locations JPMorgan Chase has announced the opening of its first retail branch in Saratoga Springs, located at 3086 Route 50. The bank officially opened on November 28 and will celebrate with a ribbon cutting on January 17 with local businesses and community groups.

“We’ve long viewed Saratoga Springs as a place we wanted to be,” said Jill Annunziato, branch manager for the Chase branch in Saratoga Springs. “We look forward to building new relationships and helping our customers during life’s most important moments, like opening their first savings account, buying their first home or planning for retirement.”

The branch is about 3,000-square-feet and features modern, bright designs with comfortable meeting areas and state-of-theart banking technology. A dedicated Chase Private Client team will provide premium banking services, personalized attention and access to the expertise and investment capabilities of J.P. Morgan to help families reach their most important goals. Customers may also meet with financial and home lending advisors and business banking relationship managers.

“We have a fantastic team of bankers here

JPMorgan Chase opened its first branch in Saratoga Springs to offer slate of retail banking services. in Saratoga Springs who are dedicated to meeting the needs of our customers,” said Annunziato. “We want to be where our customers live and work which is why we’re excited to be growing our presence here.”

Continued On Page 13

The 37th annual Stewart’s Holiday Match Campaign kicked off on Thanksgiving Day and runs through Christmas Day at all shop locations. The program supports nonprofit organizations benefiting children. To date, the program has raised over $36 million for children’s charities.

Last year, customers donated over $1 million to the program, doubling to more than $2 million with the Stewart’s match. The funds were able to support 1,939 local children’s organizations across the 32 counties where Stewart’s Shops are located.

“Sharing is a central focus of everything we do at Stewart’s. Holiday Match takes those efforts to another level by supporting children in the communities that we serve,” said Stewart’s Shops Director of Corporate Philanthropy Jennifer Frame.

Local organizations benefiting children are encouraged to apply for funding online beginning Thanksgiving Day. The deadline for submission is January 31, 2024. All groups applying must be locally based, benefit children, and be a qualified charitable 501c3 organization.

Stewart’s Shops thanks its customers, shop partners and media partners for their support

Stewart’s Holiday Match program is currently underway to benefit nonprofit organizations. each year. Stewart’s Holiday Match is a 501c3 foundation; all donations are tax deductible.

Stewart’s gladly accepts funds from groups or businesses, but only matches individual donations. For information go to https://www.stewartsshops.com

2 • SARATOGA BUSINESS JOURNAL • DECEMBER 2023

Personnel Briefs •

Julie & Co. Realty has announced Lillyann (Lilly) Hansen as the newest member of our brokerage in Saratoga Springs.

Born and raised in the southern region of New York, Ms. Hansen considers herself fortunate that she has been able to learn and explore the vibrant real estate market of Saratoga County. With a background in medicine and science, she brings a unique perspective to the world of real estate, marked by a love for problem-solving and out-of-the-box thinking.

Ms. Hansen’s client-centric approach turns real estate transactions into memorable experiences, where innovation meets tradition and client satisfaction is the top priority. Her commitment lies in fostering lasting relationships and understanding the unique needs of each client.

Ms. Hansen has a love for travel and exploring new places, whether it’s the bustle of a city or the tranquility of a hidden gem.

For her, calling this region home is not just a matter of geography; it’s a source of profound gratitude.

She is on a mission to share this deep appreciation with her clients, guiding them to discover the same sense of belonging and fulfillment in their real estate journey.

It is the mission of Julie & Co. Realty, LLC to provide clients with an exemplary experience, by the utmost attention to detail. Our agents will provide accurate, up to date market conditions, skilled analysis, and sound real estate advice.

For more information, call 518-350-SOLD (7653), email info@juliecorealty.com or visitwww.JulieCoRealty.com *

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Fenimore Asset Management, an independent, Capital Region-based investment advisory firm and manager of the FAM Funds family of mutual funds, announces that business leader Gary Dake has joined its board of directors.

MARCOM Recognizes Megan Baker As The Marketing/Communications Practitioner Of 2023 •

Mr. Dake is President of Stewart’s Shops Corporation.

Stewart’s is a large, privately owned, and vertically integrated chain of convenience stores and gas stations with more than 355 shops in New York and Vermont. Mr. Dake is an accomplished and acclaimed leader who heads a team of more than 5,000 partners (employees). These partners own more than 40% of the company through their Employee Stock Ownership Plan. Employed at Stewart’s since 1985, he holds a BA in Economics from St. Lawrence University.

“Gary is a well-respected and admired leader both within his company and throughout the Capital Region community,” said Tom Putnam, Founder and Executive Chairman of Fenimore Asset Management. “His integrity, expertise, success, and entrepreneurial spirit should benefit our investors over the long term.”

In addition to his extensive business career, Mr. Dake is very active as a community leader and Stewart’s Shops is dedicated to community giving and support. Between the company, Dake family foundations, and Stewart’s “Holiday Match Program,” millions of dollars have been donated to thousands of local charities. Mr. Dake is also the founder of the Dake Foundation for Children. The nonprofit was established “to provide opportunities for children with disabilities to enjoy more independence, inclusion, and fun.”

Founded in 1974, Fenimore Asset Management is an independent, nationally recognized investment manager with more than $4.12 billion in assets under management (as of September 30, 2023) through its Cobleskill and Albany offices. The firm’s team focuses on in-depth research, investing in the stocks of carefully selected quality businesses, and providing its investors with highly personalized investment services. Fenimore offers both individually managed portfolios and a family of mutual funds (FAM Funds) that can be used for retirement and other long-term investment planning.

Baker Public Relations, a full-service communications firm, has announced its President and CEO Megan Baker has been named the 2023 Capital Region MARCOM Marketing/Communications Practitioner of the Year.

The award recognizes a marketing or communications professional who has achieved exceptional success, displayed the highest ethics and has shown dedication to serving the community and the profession.

“Receiving an award for your work is rewarding, but being recognized by your peers makes it especially so,” said Baker. “I want to thank MARCOM for this honor and our clients who put their trust in us to tell their stories. Most importantly, I want to thank the entire Baker Public Relations team.

This award may have my name on it, but it is their extraordinary work that truly made it possible.”

The 2023 Capital Region MARCOM awards also recognized Baker Public Relations as a winner in the Printed Publication category and as a finalist in Public/Government Affairs Campaigns.

Baker began her career in journalism, where she enjoyed a highly visible 10-year run in television news. She helped launch Spectrum News (formerly Capital News 9), Charter Communication’s 24-hour news channel, serving as its weekday evening news anchor. During her tenure, she was awarded a New York State Emmy.

After stepping away from the news, Baker worked at a well-known public relations firm before starting Baker Public Relations in 2007.

In 2019, to accommodate its growing client base spanning nationwide, Baker Public Relations opened a second office in Pittsburgh. A year later, the agency invested significantly in video technology, staff and a state-of-the-art 1,000-square-foot production studio in Albany. It is now exploring opening a third office.

As a New York State-Certified Woman-Owned Business Enterprise (WBE), Baker Public Relations under Megan Baker’s leadership places a strong emphasis on mentoring women in the marketing and communications field. In conjunction with the firm’s 15th anniversary last year, two

Megan Baker has been named Marketing/ Communications Practioner of 2023.

Courtesy Baker Public Relations

scholarships were established for high school girls interested in pursuing a marketing career.

Knowing firsthand the hard work, sacrifice and dedication it takes to survive as a women-owned business, Baker also champions all women in the workplace and makes it a priority to mentor other women looking to get ahead. To empower women, her podcast, InfluenceHer, provides a platform for highlighting powerful stories of successful women.

“Megan has been instrumental in helping to guide me to where I am today,” said Kelli Reilly, owner and operator of Grace Stables. “A true champion of other women, Megan helped me as I launched my own business and I find her insight to be invaluable. It was my honor to be present at the Capital Region MARCOM Awards and see Megan receive this much deserved award.”

Baker and her team were formally recognized at the 2023 Capital Region MARCOM Awards held Wednesday, November 29th at the GE Theater in Schenectady.

Continued On Page 13

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Saratoga New Year’s Fest Continues Its Quest The Saratoga Builders Association Donates the to Be a Major Winter Destination for the Area Showcase of Homes Proceeds to Local Charities

A full slate of entertainment activities is planned for this year’s Saratoga New Year’s Fest, a reimagining of the popular First Night celebration,

Habitat for Humanity and Building Together Saratoga were the recipients of the proceeds of the Showcase of Homes sponsored by the Saratoga Builders Association.

Last year’s Saratoga New Year’s Fest --- a postCOVID revival of what was formerly known as First Night --- was developed by its new organizers in the spirit of a “necessary reinvention and re-imagining” of an annual event that had simply run out of momentum after two-plus decades.

That turnaround strategy involved not only the name change and good financial planning, but also a new emphasis on higher profile, festival-style musical entertainment as the key draw to the Spa City’s downtown. The plan must have succeeded in hitting its benchmark goals, as evidenced by the seeming “now let’s go even bigger this year!”attitude behind the booking of this coming edition’s scheduled talent lineup.

That roster includes such luminaries as Joan Osborne of ‘What if God Was One of Us?’ fame, pedal steel maestro Robert Randolph, bluegrass superstars the Gibson Brothers, the Weight Band (fronted

by The Band’s fifteen-year guitarist), 90’s angst queen Tracy Bonham, turntable pioneer DJ Logic, the hottest jam band in the USA ….. and much, much more.

As producer Robert Millis of The 398Group describes this impressive set of bookings: “We’re bringing in three acts with Grammy cred, a member of a legendary Rock Hall of Fame inductee, the reigning international Artists of the Year in their genre, plus regional and statewide award winners.

Sprinkled about will be some of the best local and regional artists we could round up, plus comedy, dance and, of course: the legacy fireworks and 5K road race.”

Millis is one-fifth of that organizing consortium, along with Todd Shimkus (Saratoga County Chamber of Commerce) Darryl Leggieri (Discover Saratoga), Ryan McMahon (Saratoga City Center) and Dillon Moran (The City of Saratoga Springs).

Mr. Moran, representing the City with his title

The Saratoga Builders Association prented proceeds totaling $70,000 from the 2023 Saratoga Showcase of Homes to Rebuilding Together Saratoga County and Habitat for Humanity of Northern Saratoga, Warren and Washington Counties. The Saratoga Builders Association announced that the total contribution to local charities from this area’s premiere new home tour event is now over $1.5 million.

The 2023 edition of the Saratoga Showcase of Homes had nine homes from 11 builders on tour this year - Belmonte Builders (2), DeGraff Bloom Custom Homes, DSG Construction & Remodeling, Kodiak Construction (2), R & M Homes, Whitbeck Construction, and Witt Construction. R & M Homes won the People’s Choice Award for Executive Home and Witt Construction won the People’s Choice Award for Luxury Home. This year’s event attracted

of Commissioner of Accounts, adds: “We have reinvested our profits from last year into bringing this magnificent offering to our great town for the enjoyment of both our fellow residents as well as visitors that will no doubt come from near and far. Better yet, it is priced as an inexpensive outing and totally free for kids. I am incredibly proud to have joined the others in bringing this thing back and taking it to a whole new level.”

The Fest weekend begins with a Friday late-night dance set by DJ Logic in Putnam Place. Saturday kicks the Fest into high gear with a full concert by Woodstock’s the Weight Band and special guests the Nth Power (soul-rock) at Universal Preservation Hall.

Sunday (New Year’s Eve) starts with a wide array of smaller-venue local acts in a variety of venues downtown in the afternoon, followed by a new-thisyear mini Block Party alongside the City Center featuring a free performance by the very popular Family Tree band.

Then, at 6 p.m., that same street converts to a viewing area for the massively popular fireworks; once again launching from the top of the City Parking Garage there -- and still free!

Immediately after, the featured musical fireworks begin in several venues. The Headline Show (Ms Osborne and Mr Randolph with full bands) occurs in the City Center’s Ballroom, with two other rooms there also hosting exciting performances in themed Country and Jam settings. These performances require an inexpensive all-shows “Roaming Badge.”

Monday (New Year’s Day) will once again see the First Day 5K Road Run, sure to best last year’s tally of 610 participants.

Admission Badges are now on sale at an advancediscount rate at www.SaratogaNewYearsFest.com.

Full Fest info, schedule, bios and updates are also available there.

Courtesy Saratoga Builders Assoc

over 2,500 visitors to these new homes, which were on display over two weekends. In what has become an autumn tradition in the area, the Saratoga Builders Association is dedicated to this long running show being an integral part of the fabric in the fall season.

This annual community event is made possible with the generous support of over 75 corporate and media sponsors. The 2023 Saratoga Showcase of Homes, celebrating 27 years of exceptional homes, was held on October 7-8 and 14-15. Two of the homes were located outside Saratoga County and the proceeds benefited two local charities - Rebuilding Together Saratoga County and Habitat for Humanity of Northern Saratoga, Warren and Washington Counties. For more details on the homes, builders, award winners, and virtual tours of every home, please visit the interactive website at www.saratogashowcaseofhomes.com.

4 • SARATOGA BUSINESS JOURNAL • DECEMBER 2023

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Alpin Haus Finishes Build-Out Project and is Poised to Debut Expansive Ski and Pool Areas

Health / Fitness Economic Trends Tax / Business Planning

Publication Date: January 10, 2024

Office / Human Resources Employment Legal / Accounting Construction Planning Publication Date: February 7, 2024

Call Today To Reserve Space

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

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A significant expansion of the ski and pool departments marks the completion of renovations at Alpin Haus, one of the Northeast’s largest outdoor retailers.

On November 20, Alpin Haus held a ribboncutting to celebrate the completion of an expansion project spanning 15 months and nearly doubling the size of existing usable square footage at its flagship store in Amsterdam. One of the Northeast’s largest outdoor recreation retailers with six stores in the Capital Region, Hudson Valley and Northern New Jersey, Alpin Haus will celebrate its 60th anniversary in 2024.

The expansion increased the ski and pool departments at the flagship store by 60 percent, to 39,600 square feet from 24,800, resulting in nearly double the amount of showroom space for these two premier divisions of the company.

“The need for the build-out was driven by growing demand during ski and pool seasons, which have increasingly begun to overlap,” said Alpin Haus President Andy Heck. “Shopping for winter sports equipment now occurs August through April and for pools and patios year-round. We’ve incorporated many exciting enhancements and made the store more experiential, including a new observation area to complement our state-of-the-art ski-tuning machine and a custom space for taking selfies featuring a chairlift backdrop.”

The youth area in the main showroom will be fitted with an A-Frame replica of the flagship store’s original entrance dating back to 1964. Kids can be fitted for skis, select apparel, and engage in fun activities in their own area of the store.

Demolition work at the Amsterdam location began in August 2022, and the renovations resulted in a footprint of 61,400 square feet. The increased square footage will make it possible for the outdoor recreation retailer to showcase its entire four-season inventory year-round.

Alpin Haus’s ski business alone has doubled in the last five years, bringing with it the need for more showroom and storage space. Currently, approximately 6,000 skis are rented annually at the beginning of winter sports season, which are then returned each spring and tuned, generating the need for more showroom and storage space. Growing the ski business to 12,000 rental skis per year to accommodate the ever-increasing demand is just one of many goals now possible to achieve.

The expansion has also made it possible

Courtesy Alpin Haus

for the introduction of several new features, including a Coffee Haus, in-house pool and patio design center, enhanced office space, and expanded shipping, receiving, warehouse and storage areas.

During the planning phase the focus remained firmly on operational efficiency.

From enhancements to showroom space to warehouse build-out, the goal was to create an effective and seamless process that would streamline services and engender customer engagement.

“We wanted our flagship store to become the hub for our other stores, to make ordering, stocking and warehousing more structured and to provide ample space for our showrooms.

Additionally, we have opened up the space that was formerly home to Alpin Haus Fitness. That area now showcases a state-of-the-art swim and training spa, which is flanked by a variety of other spas and hot tubs on the main showroom floor and is something our customers have asked for.,” said Heck.

Additional highlights of the expansion include: A coffee nook with Wi-Fi, a television and fireplace; A ski-tuning machine behind an observation window with a customer seating area; A selfie spot with a chairlift backdrop; Staff offices along the perimeter of the showroom to better serve customers and colleagues; Mezzanine level pool and patio design center adjacent to executive offices; Pool locker room with cubbies; A sizeable warehouse area; Dedicated warehouse space for Amazon order fulfillment; Historic photos on display throughout customer common areas, including the Alpin Haus original ad circa 1964 announcing the grand opening of the flagship store.

“Throughout the expansion we were determined to use only local vendors, right down to the sign we had custom-made for our new Coffee Haus,” Heck said. “I think customers will reap huge benefits from this project through delivery of streamlined services, showrooms that allow us to have pools, boats, skis and equipment on display all year, faster inventory Continued On Page 5

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SARATOGA BUSINESS JOURNAL • DECEMBER 2023 • 5

Local Author’s First Book Provides Entertaining The Sienna Statewide Poll of Holiday Spending Way for Children to Learn Creative New Words Plans Shows Mixed Results Among New Yorkers

The Animal Menagerie, a children’s book written by local author Francine Dingman and illustrated by Marta Maszkiewicz, was recently launched at Saratoga Arts.

Local author Fran Dingeman has released her first book, called The Animal Menagerie.

The book was officially launched at a celebration for contributors, family, and friends at Saratoga Arts.

The Animal Menagerie, written by Francine Dingeman and illustrated by Marta Maszkiewicz, is an A-to-Z picture book for children ages 4-7. The characters are animals for each letter of the alphabet. The book is written to entertain and educate by introducing dozens of creative new words to a child’s vocabulary. The Animal Menagerie uses rhyme to help children learn and remember new words and animal names, and teaches their meanings through the use of imagery and animal tales.

“Writing a book was something I talked about doing for years,” said Dingeman. “In 2021, I decided to act on it. The Animal Menagerie was created with a goal of elevating a child’s vocabulary while entertaining them in the process. Fabian the Fly takes the young reader on a learning adventure to meet new animal friends and hear of their tales. Par-

ents will enjoy sharing this book with their children, and may even learn something new in the process.”

She continued, “I am grateful to so many who offered their guidance through the self-publishing process, and in particular to Saratoga Arts, who helped make this project financially possible through the Community Arts Regrant Program, funded by the New York State Council on the Arts with the support of the office of the Governor and the New York State Legislature.”

The Animal Menagerie is available for purchase locally at https://shop.celtictreasures. com/ , https://www.gwillikerstoys.com/, and https://saratogaoutdoors.com/ in downtown Saratoga Springs, as well as at https://www. allerdice.com/ in Malta. In addition, books can be purchased through the author’s website www.francinedingeman.com, designed

by Brand Science NY. The website includes a list of local events where Dingeman will be in-person throughout the holiday season with books for purchase including a Local Continued On Page 13

Forty-eight percent of New Yorkers plan to spend less than $500 on gifts during this holiday season, according to a new statewide survey of consumers released December 7 by the Siena College Research Institute (SCRI). Sixteen percent of all state residents, including a third of those making $100,000 or more, will spend more than $1,000 this season.

Over half, 51 percent, will conduct either between 50 percent-75 percent (29 percent) or between 75 percent-100 percent (22 percent) of their holiday shopping online this year. Over half, 54 percent, will buy gift cards for some on their holiday list.

While 23 percent of state residents say that their finances are improved from this time a year ago, 44 percent say that their finances are unchanged, and nearly a third, 31 percent, say that they are worse off.

Half of all New Yorkers say that all of their holiday spending combined, food, gifts and any other holiday spending will have a somewhat (34 percent) or very (15 percent) serious impact on their financial condition. One in five New Yorkers say that they will pay the bills for holiday spending over a period of time that could extend well into 2024.

“Nearly two-thirds of New Yorkers, regardless of how hard the spending will hit their wallet, are excited about the coming season. But, with one-third already feeling economic headwinds, half say ‘I’ll spend on food, gifts, decorations and parties but it’s gonna hurt’,” said SCRI Director, Don Levy. “Among New Yorkers making 50K or less, over 40 percent are worse off today financially than a year ago, nearly half hope to spend less than last year, and 62 percent say even with watching their spending, the holiday bills will hurt.”

A quarter of New Yorkers say that they believe in Santa Claus, down from 39 percent a year ago and tied for the all time low in this Siena survey with 2020, the pandemic year. Seventy-three percent plan to put up a Christmas tree in their home but by over two-to-one, 69 percent-31 percent, they prefer artificial to real. Half, 50 percent, say that they are hoping for snow for the winter holidays while 29 percent prefer not to shovel and 21 percent will take whatever comes.

• 37 perecent will be giving homemade gifts; 27 percent will be buying experience gifts such as concert or sporting event tickets or spa gift certificates.

• 30 percent will be traveling to visit family or friends for the holidays. Of those, 79 percent will be traveling by car, 37 perecent by plane and 24 percent by train; 43 percent will be traveling outside of New York within the U.S. • 33 percent will spend more on holiday food this year than they did last year. 76 percent are buying food for a holiday dinner or party. Only 11 percent of New Yorkers will neither host nor attend a holiday party or dinner; 37 percent will attend parties, 20 percent will host and 31 percent will both host and attend.

• Of those that say holiday spending will have a somewhat or very serious impact on their financial condition, 62 percent are excited about the holiday season, but 35 percent are less excited than they were last year. Half of these New Yorkers hope to spend less than last year as 48 percent say that they are already worse off financially this year than last and 26 percent know that they will carry holiday spending as debt well into next year.

Alpin Haus

New Jersey, Alpin Haus features a full line of RVs, snowmobiles, skis, boats, pools, and spas.

Alpin Haus is one of America’s largest RV dealers and has received the Snow Sports Retailer of the Year; National Top Quality RV Dealer of the Year; Ski-Doo District Dealer of the Year; and has been selected multiple times as one of the Best Places to Work by Capital District Business Review. For more information, visit www.alpinhaus.com or call (518) 954-2229.

Continued From Page 4 re-stocks and a more interactive experience overall.

For nearly 60 years, Alpin Haus has served as one of the Northeast’s largest outdoor recreation retailers. With six store locations in the Capital Region, Hudson Valley and Northern

Frosty the Snowman Reads

SARATOGA BUSINESS JOURNAL

6 • SARATOGA BUSINESS JOURNAL • DECEMBER 2023

Saratoga Smiles Offers Wide Range of Cosmetic Carpetland Offers a Wide Range of Flooring Services in Its New Location in Saratoga Springs Products As Well As Personal Customer Service

Dr. Richard Dennis, whose practice offers state-of-the-art dental services, has moved his practice to a new location in Saratoga Springs.

Cosmetic dentist Dr. Richard Dennis has relocated his practice, Saratoga Smiles, to 6 Carpenter Lane in Saratoga Springs. Prior to moving to the former Women’s Care building, his office was located at 176 Lake Avenue.

Dr. Dennis, a United States Marine Corps veteran, has been practicing dentistry for 26 years.

As part of his extensive post-graduate studies, he completed an Advanced Implant Fellowship at Rutgers School of Dentistry. He earned his Conscious Sedation Certification from the University of Pittsburgh and is a Master in the Academy of General Dentistry (MAGD). Less than 2 percent of general dentists in North America are AGD Masters.

Saratoga Smiles is one of the few dental practices in the area to offer a wide array of services under one roof. Services include single implants, implant dentures, IV Sedation, cosmetic procedures, Invisalign, all restorative services and oral surgery, as well as preventative care.

“We offer IV Sedation which very few offices in this area offer,” said Office Manager Patty

Courtesy of Saratoga Smiles

Humphrey. “There is extensive training involved as well as continuing education to renew certification to be able to offer IV Sedation. Our team is highly trained in working with patients with dental anxiety.”

According to Humphrey, significant renovations were made to the building at 6 Carpenter Lane after it was purchased by Dr. Dennis. As part of the renovations, a surgical room was constructed. “The doctor has a surgical room in this office which he did not have in the other location. He performs placement of implants and oral surgery as well. Patients do not have to go to multiple offices to have implant services performed,” she said.

The new office has ample on-site parking, something that the previous location was lacking. “Parking was a major problem at the other office,” said Humphrey. “Our new office has a spacious parking lot for all our patients.”

Saratoga Smiles is currently accepting new patients. For more information, visit www.saratogasmiles.com.

GLENS FALLS BUSINESS JOURNAL 2000 Business Of The Year

Adirondack Regional Chamber Of Commerce 9 Broad St. Glens Falls, NY 12803 (518) 581-0600 • Fax: (518) 430-3020 • www.glensfallsbusinessjournal.com

Editorial: RJDeLuke@glensfallsbusinessjournal.com Advertising: HarryW@glensfallsbusinessjournal.com Publisher & Editor Harry Weinhagen

Editor Emeritus Rod Bacon Sales and Customer Service Harry Weinhagen Mary Longley Production Manager Graphic Precision Contributing Writers Susan Campbell Jill Nagy Christine Graf Andrea Harwood 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, 9 Broad St, #7, Glens Falls, NY 12801 (518) 581-0600. Glens Falls Business Journal is a registered tradename in New York.

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Kate Morrell, the current owner of Carpetland, stands among the many flooring options available at the 77-year-old business started by her great grandfather.

BY CHRISTINE GRAF Carpetland recently celebrated the grand opening of its 5,800-square-foot showroom at 11 Aletta Street in Saratoga Springs. Prior to moving to Aletta Street, the business was located at 78 Church Street.

Carpetland was founded 77 years ago by owner Kate Morrell’s great-grandfather. The company’s flagship store was located in Amsterdam, and a Saratoga Springs branch was opened 50 years ago.

“He started it in Amsterdam in a 1,000-squarefoot building, and they just kept building and building until it ended up being about 20,000 square feet,” she said. “It ended up in the Mohawk River when Hurricane Irene hit.”

Over the course of seven decades, many members of the Morrell family have been involved in day-to-day operations of the business. Morrell’s father, the late James Morrell, bought out his partners after the Church Street property was sold for $1.4 million in October 2022.

Morrell worked alongside her father for eight years before taking over the business after he passed away in April 2023. Six months after his passing, she opened the Aletta Street showroom with a staff of three employees.

“People think that because we’re called Carpetland that we only have carpet. But, we have all types of flooring,” said Morrell. “We have hardwood, luxury vinyl planks, rollout vinyl, laminates, solid core vinyl, stair runners, and area rugs.”

One of Carpetland’s main distributors is NRS, a company based in Maine. NRS specializes in local-

ized products including northern hardwoods.

“Northern hardwoods are better because they are stronger because they grow slower,” said Morrell.

Carpetland is a member of Flooring Network, a network of retailers that stands behind their products with the best performance warranties in the business. Flooring Network members are dedicated to providing customer satisfaction that exceeds expectations, and they work with a team of accredited and professional installers.

Although big box home improvement stores sell flooring, Morrell said customers will find many advantages to shopping at Carpetland.

“When people bring in their estimates, those stores usually end up being more expensive. We also specialize in flooring, so it’s not like someone from the refrigerator section is going to be helping you with flooring. We are part of a flooring network that has access to all types of different flooring which gives the customers more options. We also are a family-owned business, so to get ahold of somebody, you don’t have to call a corporate office,” she said.

Since the company’s inception more than 75 years ago, Carpetland has relied on word-of-mouth to build its business. In fact, Morrell said her father never advertised.

Although she has no current plans for expansion, she hasn’t ruled out the possibility.

“Hopefully in the future I will, but right now I’m just getting settled,” she said.

West Mountain

would include condominiums, timeshares and custom-built, single-family homes.

The Montgomerys hope to submit a 250-page Planned Recreational Development proposal to the town board in January. Ultimate approval must come from the town planning board following extensive review.

“The earliest groundbreaking would be fall of 2024,” Montgomery said. “We’d probably start with the hotel and conference center. It’s complex because there’s a lot of moving parts. Some people from Glens Falls and Queensbury, such as empty-nesters, will want to downsize, get a nice condo and live in a resort-style development. It’s a real lifestyle type of thing. Then there’s the tourism element where people buy a condo or timeshare they can rent out when not using it.”

The business model hinges on being able to siphon off even a small percent of the many downstate residents who pass through Warren County en route to Vermont ski resorts each winter. By having a hotel, guests could unpack their bags and ski without ever having to leave the property.

“You can have a full resort experience similar to Stratton Village,” Montgomery said.

Continued From Page 1 The center sells about 100,000 lift tickets, but a recent study estimates that another 150,000 people such as parents watching ski races, and guests at West Mountain’s summer attractions (ropes course, children’s camp), come on the property each year. The racing program is led by Thomas Vonn, who coached his wife Lindsey to an Olympic gold medal, and former World Cup racer Steve Lathrop.

While anticipating a strong winter season, the Montgomerys are eagerly awaiting development of a roughly $200 million project that would make West Mountain one of upstate New York’s only true ski-and-stay resorts.

Plans call for a 60-80 room hotel in a villagetype setting with a full-service ski store, grocery market, spa, athletic club, coffee shop and restaurant surrounding a new high-speed chairlift, all located near the existing Northwest base lodge.

Additional phases working up the mountain

SARATOGA BUSINESS JOURNAL • DECEMBER 2023 • 7

The Former Mountainman Outdoor Supply Stillwater Completes A Five-Year Building Company Is Rebranded As Saratoga Outdoors Program on New Library in Former Fiber Mill

While Mountainman has changed its name to Saratoga Outdoors, it still offers the same extensive selection of quality outdoor gear it has since it’s founding in 1993.

BY JILL NAGY The former Mountainman Outdoor Supply Company on Broadway in Saratoga Springs is now Saratoga Outdoors, but its owner, John Nemjo, said it is still the same business, same owner, same quality outdoor gear, and same knowledgable staff. The store needed a new name because Nemjo sold the old one, along with several outlets in Old Forge, NY. Mountainman began in 1993 as a store in Old Forge. Nemjo came to Old Forge from New Jersey by way of Florida “I came back with $6,000 in my pocket” to start a business. “It was rough,” he recalled.

The business expanded to three outlets in Old Forge and in 2008 he added the Saratoga Springs store. Recently, Nemjo sold the Old Forge stores, along with the name, to a former employee. The Old Forge stores will continue to specialize in canoes—more than 20 brands of them—and kayaks, along with other outdoor gear. He expects that he and the new owner will work together.

Saratoga’s boating department will stock only one brand, Swift Canoe and Kayak, a Canadian brand and “the prettiest and nicest built and nicest paddling” boats around, according to Nemjo.

As far as boats are concerned, it will be a “boutique,” selling only the one luxury brand.

Otherwise, Nemjo said, Saratoga Outdoors will continue to be “one of the leading independent specialty dealers in the Northeast.” It will continue to sell hiking, camping, and backpack-

ing gear as well as clothing and footwear. They can also outfit cross-country skiers and snowshoers, but no downhill skis or snowboards. He noted that Saratoga Today voted his store the best men’s clothing and footwear store in town.

It sells Patagonia, NorthFace, Marmot, and several Swedish and Norwegian brands.

Shopping at Saratoga Outdoors can be addictive. Nemjo said that one survey found that 60 percent of his customers, both local folks and out-of-towners, shop there three or more times a year. “It only takes getting a person here once and they are hooked,” he noted. He prides himself on offering quality product and name brands.

Before he sold the Old Forge stores, the company was making $6-7 million per year, Nemjo said.

Nemjo is aware of the growing competition for the Capital Region outdoor dollar, with several new national brands coming to the Albany area. They may give L.L.Bean a run for the their money, he predicted, but “I’m up here in Saratoga and I have a great location, so I’m not worried about growing competition.” That location is at 2008 Broadway, between City Hall and the City Center.

Saratoga Outdoors is open from 10 a.m. to 8 p.m. Monday through Saturday and from 10 a.m. to 5 p.m. on Sunday. For holiday shopping, hours will be extended to 9 a.m. to 9 p.m. everyday. The telephone number is 518 935-3161.

Stillwater is culminating a 5-year library building project at their new library location at 712 Hudson Avenue, Stillwater. A grand opening celebration is planned for Saturday, December 2, from 3pm to 5pm, beginning with a formal ceremony, including opening remarks by community leaders, followed by a ribbon-cutting, facilitated by the Capital Region Chamber, starting at 3:30pm. The afternoon event will include an Open House and tours of the new library. Light refreshments will be served.

The opening of the new library was years in the making beginning with multiple focus group meetings and public forums in 2019 to assess the ability of the 147-year-old former St John’s Episcopal Church location (that held the former library since 1959) to meet the continuing needs of the community. It was determined that the space was not sufficient to accommodate what the community requested, including meeting and class spaces, as well as accessibility for individuals with limited mobility. It was deemed that an alternative space was necessary to be able to offer what residents were looking for. Site reviews began in July, and an identification of the Fiber Mill at 712 Hudson Avenue as the most fiscally responsible space to move the library into, came in December. Next came COVID, which slowed the library project’s progress significantly.

In October of 2021, a referendum was voted on by the residents of the Stillwater Central School District as to whether to purchase and renovate a new library facility. The vote in favor of the project won by a landslide of 350 to 191.

“Our new library has been a labor of love for quite some time,” said Library Board President, Heather Frank. “This project has evolved over the years from building an addition to our existing building to the realization that we need a new building to truly meet the needs of our community. We couldn’t be more proud of the end result.

We still have some finishing touches that will help to make this house our home, but we can’t wait for the community to take full advantage of what our new library has to offer. Sara Kipp, Director of the Library, has really been the engine that has kept this project moving forward and we are so proud of the end result!”

The Fiber Mill, the former Stillwater tissue mill, has made double the number of books and 27 parking spaces possible. The move to the new space has

Chuck Ciaccia 29 years

Jude Gosh 34 years

Stillwater residents now have a new library at which they can access a variety of services.

Courtesy of Stillwater Libray

allowed for an 8528 square foot facility compared to the former 2650 square foot library. The project was estimated as $4.4 million dollars in scope and is funded by NYS Construction Grants, public and private donations, and support from taxpayers.

This new fully accessible site is now a dedicated space for local history, allowing the children’s room to be larger and allowing full accessibility to all patrons. The new expanded library can now offer many new programs and services.

“After surveying the public as to what they needed and assessing the best way to do it, we are very excited to present this iconic building!” said Library Director Sara Kipp. “The project was paid for by Stillwater School District residents, grants, and donations. We are grateful to the Dake Family Foundation, who donated $75,000 for windows in the children’s section of the library, and to the Canal Way Corporation, who donated $100,000 toward the project. It was great to witness the tremendous community interest in the move to the Fiber Mill.

This new location celebrates an appreciation of life around the River and Stillwater’s role in the history of the canal. We invite the community to come and celebrate the opening of our new community library with us!”

Dave Weiss 23 years

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8 • SARATOGA BUSINESS JOURNAL • DECEMBER 2023

SARATOGA BUSINESS JOURNAL

SPECIAL SECTION

Cyber/Tech

Forget the Gym Membership—It’s time to Newlogiq Provides Cutting-Edge AI Solutions Commit to Cybersecurity For The New Year to Small and Mid-Sized Businesses in Region

BY REG HARNISH It’s that time of year when many of us start evaluating the past year and what goals we want to aspire to in the next. And although cybersecurity might not have as much allure as a sixpack (depending on who you ask), it’s crucial for your business’s well-being.

With an estimated $3.1B in losses and rising from cybercrime--whether from financial fraud, ransomware, or breach-- it’s important to understand the sheer scope of the challenge. Although small businesses are increasingly adopting and investing in cybersecurity, 62% of small businesses are affected by cybercrime because the reality is that the bad guys are getting better faster than we are.

Embarking on a cybersecurity strategy can seem daunting, but at the core, we believe that cybersecurity success comes from doing the absolute minimum necessary to achieve your business mission. At a high level that means understanding how cybersecurity is affecting and contributing to your mission, and proactively and methodically thinking about how to apply controls (whether HIPAA, PCI, or other industry regulations) to: Protect your intellectual property Combat cybercrime Minimize disruption and loss Protect against reputational issues To understand how cybersecurity can best contribute to your mission, follow these 8 recommendations: 1. Understand Your Goals Establishing the right goals is about understanding your business: a. What is the mission? (Protecting intellectual property? Patient data, etc.?) b. What does your risk tolerance look like, including your business culture? c. Regulatory mandates (HIPAA, NIST 171, PCI, etc.) are important, but what is the right defensible goal for your business?

2. Do a Risk Assessment When considering risk in cybersecurity, it’s all about the risks to your data. Do you have a remote or hybrid workforce, or process a lot of financial transactions?

Do you send and receive sensitive data? Identify the areas of greatest data risk in your business.

3. Build an Incident Response Plan Even with a strong cybersecurity strategy in place, breaches can and will happen. Prepare for breaches with a strategic plan for detection, response, and recovery. When an incident occurs you want to be in a position of defensibility – did you put in reasonable protections and respond effectively – and resilience – how did the breach impact your business? We recommend yearly Incident

Reg Harnish is CEO of OrbitalFire Cybersecurity.

Response Tabletops. Incidents can be chaotic and emotional, and drills simulating financial fraud, breach of regulated data, or loss or theft of a device in a safe environment can prepare your team like few things can.

4. Conduct Employee Awareness Training Empowering your team to recognize and prevent cyber threats, like phishing attacks, is the single biggest way to minimize your chance of experiencing cyber incidents. Cybersecurity awareness programs should be frequent. That’s because we know that short continuous drips of training, testing, and skills assessment are much more effective than a single annual training. Training every month combined with the expectation that it’s part of an employee’s job description is a powerful and effective combination.

5. Get a Cyber Insurance Policy For the same reasons I discussed needing an incident response plan, and why we get fire insurance, getting cyber insurance is crucial to mitigating potential financial losses and aiding in incident response. The cyber insurance industry is changing quickly as cybercrime needs change, and it’s important to work with an insurance company that focuses on cyber insurance.

6. Reinforce your Financial Processes When you evaluate the resilience of your financial processes, it’s important to review both the technology you’re using, such as Multi-factor authentication and alerts on email rule changes, as well as your people processes. Strong employee training and testing, a Culture of Security focused on Continued On Page 9

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BY CHRISTINE GRAF After spending more than a decade at the helm of Jolt Consulting Group, Jeff Oskin sold the IT consultancy fi rm in February 2022. By that time, his company had grown exponentially and had a staff of 50 employees.

“I grew that company both organically and through acquisitions,” he said. “We did IT consulting, specifically sales force implementation consulting work for service-oriented organizations.”

While operating Jolt, Oskin also began working as an executive coach, establishing a peer advisory group for executives in the Capital Region.

“Many of the most well-known executives in the Capital District are in that group,” said Oskin.

After selling Jolt Consultancy, he established Newlogiq, a business that provides cutting-edge AI consulting solutions to small and mid-sized businesses.

“I wanted to continue this entrepreneurial bent,” he said. “When I was contemplating my next move, I ultimately landed on going to market with a consulting company that sat at the intersection of three things: people, process, and technology.”

“From the people side, it’s helping organizations through executive coaching and leadership development—helping that next generation leader to develop skills to help them elevate their capabilities so as to improve the overall health of the company they work for.”

When referring to process, Oskin said he has long been a believer that technology should support business process.

“I believe AI—artificial intelligence—is a huge opportunity moving forward for organizations to leverage technology to simplify, automate, and streamline business processes.”

Oskin received his certification as an AI expert from Blockchain, a large non-profit that sets the standards for the blockchain industry.

“Blockchain itself is a type of technology, and Blockchain.org is a kind of a regulatory body from which AI has evolved,” he said.

Th rough his work at Newlogiq, Oskin helps companies streamline their processes through the use of AI and other technologies.

“Largely, my focus has been bringing AI capabilities to small and mid-size businesses in the region,” he said. “My goal is to ultimately build a center of excellence here in the Capital District area that businesses can rely on to help develop their talent and/or their

Jeff Oskin has launched Newlogiq to offer AI solutions to area businesses. process and technology infrastructure. I think this is something that is sorely lacking in our region.”

Oskin is fi nalizing negotiations to lease a facility in Clifton Park. It is there that he plans to establish his corporate center.

He continues to operate peer advisory groups and plans to launch five leadership groups in the new year. Oskin also offers executive coaching to individuals.

On the AI side of his consultancy, he offers corporate educational workshops. He has been busy presenting these workshops to companies throughout the Capital Region.

“I educate organizations on what is possible,” he said. “We also help organizations identify and ultimately implement AI applications specific to their business.

Newlogiq also works with companies through a retainer-based model.

“We can work in-house as an extension of their team by leading projects or doing whatever it is that they might need assistance with,” said Oskin.

He acknowledged that many people are leery of or even afraid of utilizing AI in their businesses.

“People who are scared are scared because they don’t understand it, so part of my effort is to educate people on what AI is and how it works. Once you demystify how it works, people become inherently much more comfortable with it.”

“I then launch into showing about 20 difContinued On Page 9

SARATOGA BUSINESS JOURNAL • DECEMBER 2023 • 9

Mahoney Alarms Provides the Full Range of Residential, Commercial, Industrial Services

Cybersecurity

Continued From Page 8 protecting your data, and procedural measures that inherently reduce risk, like segregation of duties, are critical to preventing breaches. For example, a vendor calls and wants to update their ACH routing number. What processes will you use to ensure that is a legitimate request?

7. Use Grit Cybersecurity isn’t about going toe to toe with bad actors from a technological standpoint, it comes down to building a ‘Culture of Security’ in your organization that fosters a collective commitment to cybersecurity, making it a fundamental part of every role.

8. Find a Good Cybersecurity Partner There are thousands of cybersecurity tools out there to

buy, and just as many IT and cybersecurity services companies saying they can help you. Find a cybersecurity partner that works specifically with small businesses, understands cybersecurity is only 1/3 technology, and focuses on what I started with – what is the absolute minimum necessary to achieve your business mission.

Anything else is overkill.

Ensuring a more secure organization is all about the fundamentals. It’s also important to ask for guidance and help where you need it.

When writing your 2024 resolutions, I hope you consider the cyber resilience of your business as an important goal worth creating a plan.

Newlogiq

Many of the 49 employees of Mahoney Alarms Inc have been with the company for more than 20 years, making it a true family enterprise.

BY CHRISTINE GRAF World War II veteran Raymond Mahoney, Sr., was working as a Glens Falls City fireman when he founded Mahoney Alarms in the 1950s. On his days off, he operated the alarm business out of his basement. Nearly 70 years later, his son, Kevin Mahoney, serves as president of the company which is headquartered at 15 Cooper Street in Glens Falls.

Mahoney can’t say for sure exactly when he started working for his father at the family business. He remembers riding his bicycle to repair telephone pole alarm boxes when he was a teenager.

Mahoney Alarms is a true family business, and its staff of 49 employees includes Mahoney’s sister, Colleen McGuirk, his cousin, Benjamin Chapman, and his son, Kyle Mahoney.

“It’s a family business, and it’s treated as a family business,” said Mahoney. “We have very, very long-term employees, and they are as much of a family member as my own family.”

“The bulk of our long-term employees have been here for at least 20 years. This is a tremendous advantage for customers because you have a consistent flow of information.”

The majority of the company’s suppliers are also family businesses, and unlike most of its competitors, Mahoney Alarms maintains a large, well-equipped stockroom.

“If you have a problem with an alarm at your house, you want it taken care of when the problem happens, not in 2 weeks when the part comes in,” said Mahoney.

The company also has its own central station for monitoring alarms. It is manned by company employees 24 hours a day, 7 days a week, 365 days a year.

“Most companies send their information to a general central station,” he said. “Because we have our own central station, you are talking to the people who take care of your alarms any time there is an issue.”

According to Mahoney, his company also has its own in-house engineering and technology support staff.

“With most alarm companies, you don’t have that benefit. When a technician goes out and gets stuck with something, he has no place to go. He has to wait for someone from the manufacturer call him back. It’s a tremendous advantage for us. We are a real service-based company.”

Mahoney Alarms installs residential, commercial, and industrial alarm systems. The company’s business is split evenly between the

Courtesy Mohoney Alarms Inc.

three sectors.

“We do top to bottom,” said Mahoney. “We design, we sell, we service, we install, and we maintain monitoring. The bulk of our customers have been with us for years and years and years. Our customers have become our friends.”

Each one of the systems they install is custom designed to meet the specific needs of each customer.

“Each home and each office is different, so you design each and every one to be special to you,” he said. “Everything we do is built to the specific and unique needs of the customer. There are a million things you can put into your house to watch it.”

For example, he said customers can incorporate access control into their systems. With access control, doors are not operated with keys.

Instead, they are opened with key fobs or other types of sensors.

“We do systems that have hundreds of doors or systems that do one or two doors. Businesses love it.”

Homeowners who spend weeks or months away from home during the winter can choose to incorporate water and temperature sensors into their systems. Water sensors are installed into floors to detect leaks, and temperature sensors are used to detect dangerously low temperatures.

“Think of the damage that can happen to a home if your furnace has a problem” said Mahoney. “If you are away for a few weeks and have a furnace problem, your house is going to be a block of ice when you get home. And, now you are talking about hundreds of thousands of dollars of damage to your home.”

Mahoney Alarms also offers security systems, fire systems, carbon monoxide detection, and medical pendant systems for the elderly or infirmed.

“People think of alarm systems as security systems, but they are truly home systems.

Alarm systems can keep an eye on so many things for you. It’s total peace of mind,” he said.

When it comes to alarm system technology, Mahoney said systems are becoming more reliable, more intuitive, and more efficient.

“Our products are unique, and we use cutting edge technology. Every year, things get a little better. Some of these technologies are coming so fast that instead of having a life cycle of what used to be 5 years, the life cycle can now be 6 months. It’s exciting to see the new things that are coming out.”

For more information, visit mahoneyalarms.com.

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Continued From Page 8 ferent applications that are used throughout different aspects of business—from marketing to HR to operations to customer service.

I show them the possibilities that are out there.”

One of these applications is Jasper AI, an application used to help companies write marketing material.

“Jasper is all about writing marketing content,” said Oskin. “It’s an application you pay for, and it can write anything you want from press releases to blog posts to Google ads to job postings.”

Although the use of Jasper and other AI application can result in cost savings for businesses, Oskin points to other benefits.

“There are huge opportunities for efficiency improvements in an organization— allowing people who are doing mundane,

repetitive tasks to elevate their capability to provide more value to customers. There is also an opportunity to monetize AI services for revenue purposes. That’s really where the biggest opportunity for AI in the market is.”

For example, Oskin said that a car wash business could profit by harnessing customer data that they accumulated over time.

“If the company has years and years worth of data that is relevant to their customer base, they can build and incorporate a machine learning AI algorithm on top of that data to predict pattern of customers. They could sell that trend data to other car wash companies.”

Because AI is constantly evolving, Newlogiq continuously researches, tests, and refines its AI solutions. For more information, visit newlogiq.com.

10 • SARATOGA BUSINESS JOURNAL • DECEMBER 2023

SPECIAL SECTION

SARATOGA BUSINESS JOURNAL

Nonprofit

Southern Adirondack Independent Living Has Programs to Fill the Needs of Disabled Clients •

Among its many equipment offerings, Southern Adirondack Independent Living has a beach wheelchair that allows challenged individuals to enjoy time in the sun and sand.

Courtesy SAIL

BY SUSAN ELISE CAMPBELL From its main campus in Queensbury, Southern Adirondack Independent Living is making programs and services accessible to residents of 17 counties across New York. SAIL’s main goal is to help the elderly and those with disabilities remain safely in their homes and avoid skilled nursing care or institutional placement. While this non-profit has built on that objective for 35 years, executive director Tyler Whitney said the needs of the community are ever-changing, and especially so with a growing senior population in the post-COVID world.

“We have come a very long way in letting people know about what we can do for people with disabilities or those looking for services for their families,” Whitney said. “Before COVID people would say to me, ‘You’re the best kept secret.’ But that was like a sword in my heart because we want people to come to us. We are here to help.”

Over recent years the team at SAIL has done much to broaden awareness and build their brand, hiring Cam Cardinale as director of community relations. Whitney said Cardinale’s role is to engage with stakeholders, both community members and partner agencies, to show how SAIL ties into different facets of the community, such as recreation, tourism, independent living, health insurance and more.

“People coming to our center don’t know the

extent of what we do until they meet us,” said Cardinale.

“Let’s say they need an aide in the house and want to look into our waiver program, by which the state authorizes SAIL to divert Medicaid dollars to home care,” Whitney said. “If they don’t have Medicaid, it could be up to six months to get them on the program.”

There are 600 people on waiver right now, according to Whitney, and the waiver program is one of 13 different programs SAIL operates.

The others revolve around such areas as health insurance, assessing options and applying for insurance; advocacy, accessing social services, disability programs, transportation and housing, and other programs as needed; and transitions, helping individuals review options for community living and long-term care.

There are 12 staff dedicated year round to helping clients enroll in Medicare, Medicaid and evaluate the features and benefits of different Medicare Advantage plans.

Especially in the last 15 years has SAIL added aging-in-place specialists to the staff and helped companies make their place of business more accessible to the aged, vision impaired and those with low mobility.

All programs and services are without cost.

Much of the counseling provided could cost hunContinued On Page 15

Business Report

Action Plan Key to Nonprofit Strategic Plan •

BY SABRINA HOUSER Where is your organization’s strategic plan and how are you using it in your day-to-day operations? You know the strategic plan we’re referring to: the 3-5 year plan that took many, many person hours to develop, refine and write.

The one that brought together staff, board, and stakeholders to articulate a common vision and a path forward toward that vision.

Is it sitting on a shelf in your office in a nicely tabbed binder never to be seen again until you need space on the shelf for something else?

This, unfortunately, is the fate of many strategic plans. It is something of an in-joke in the nonprofit sector that the fate of most strategic plans, despite the effort that went into their creation, is to gather dust on a shelf in the office until it is time to develop a new strategic plan to replace it.

When done with purpose, strategic planning is an invigorating, energizing and community building process. It is an inherently motivating and hopeful activity to connect goals and objectives to a shared vision for your organization.

Everyone involved feels a sense of accomplishment and shared purpose when the plan is complete.

The truth is that your strategic plan is not an end product: it is a starting point. It is the beginning of your organization’s journey toward the shared vision that has been created.

Unfortunately, because staff, Board and the Strategic Planning committee feel their work is finished after the strategic plan is written, the implementation of the completed plan is often left as solely the Executive Director’s responsibility. With no clear plan for implementation, this feels overwhelming. Lack of clarity about authority and coordination of communication and accountability are a death knell for even the most well-developed strategic plan.

Is it any wonder that many strategic plans go on the shelf?

The solution is to develop an action plan as the final step in the strategic planning process.

Once your strategic plan is written, and goals have been agreed upon and adopted, that next step is to build an action plan.

How To Build and Action Plan 1. Break each goal down into actionable steps.

2. Identify the measurable outcome of each step. The acronym SMART is useful here. Specific, Measurable, Attainable, Realistic, Timebound.

3. Identify who/what group is responsible for each step. This ensures someone is accountable for each initiative or measure, so nothing falls to the wayside.

4. Place a deadline for completion of each step.

Here is an example of a broad goal and three potential action steps: Goal: All Board members are engaged in fundraising Action Item: Revise existing Board training to include fundraising responsibilities Responsible: Development Committee

Sabrina Houser is the owner of Capital CFO+ in Saratoga Springs.

Courtesy Capital DFO+

Timeline: End of Q3 2024 Action Item: Create Individual board member annual fundraising plan template Responsible: Development Committee Chair, Executive Director Timeline: End of Q2 2024 Action Item: Each Board Member complete individual annual plan Responsible: Board Members, Board Chair, Executive Director Timeline: End of Q4 2024 Your action plan should be clear and laid out in a manner that makes it easy to identify who is responsible for each action item and the associated timeline for each. Excel or Google Sheets are an excellent format for your action plan.

There are many templates available online, as well.

An additional best practice is to integrate your action plan into the agenda for each Board meeting.

We are a firm believer in the consent agenda.

A consent agenda is an opportunity to collapse much of what we use our time in meetings into a very brief approval process. Minutes, financials, reports, and the like can all be approved at the same time with little or no discussion.

Prioritize the first part of the meeting for strategic matters. Rather than an Executive Director Report, create an ED and Executive Team Report on Strategic Priorities and align it to Strategic Plan deliverables. Check in on progress of action items in your strategic plan action plan. This keeps the goals and objectives of your strategic plan top of mind, promotes accountability, and ensures that barriers to completion are identified, and solutions or adjustments discussed.

These two things: an action plan and integrating your action plan into regular Board meetings can help ensure that your strategic plan becomes the driver for organizational growth and increased impact that it was meant to be, rather than a dusty volume on an office shelf.

SARATOGA BUSINESS JOURNAL • DECEMBER 2023 • 11

Saratoga Joinery Offers Woodworkers of all The Not So Common Players is Seeking A New Skill Levels Space and Tools to Ply Their Craft Venue For Its Slate of Free Theater Presentations

BY JILL NAGY Not So Common Players is looking for a new home. The group had scarcely completed a very successful run of “Little Shop of Horrors,” when they had to pack their gear—props, costumes, technical equipment, the works—and get ready to move it to The Grange for temporary storage.

For 15 or 20 years, the Players were “blessed” to have donated space in a building owned by Windsor Development. Windsor recently sold the building and the new owner plans to rent the space the Players were occupying.

The Grange is an older building with electricity but no running water and really not suitable for longterm storage, explained David Rossi, chair of the theater company’s board. “Anybody who has space, give us a call,” Rossi urged. By the way, they are looking for something free but, if necessary, they will consider a rental.

The Players have been presenting free theater

John Haller has opened Saratoga Joinery, a community space where novice woodworkers can hone their creative skills.

BY SUSAN ELISE CAMPBELL One of Saratoga’s newest non-profit organizations will launch in January to help woodworking novices and experienced hobbyists “build, collaborate and learn” skills in the community workshops at 69 Caroline Street, former home of The Children’s Museum.

Saratoga Joinery is the latest endeavor of entrepreneur John Haller, who personally purchased the 8,500 square foot building in March of 2022 when he learned the museum would relocate.

“Some of the equipment and even the dust collector takes a lot of space,” said Haller, who has designed the first floor as a machine room and the second floor as a quieter workspace with benches and tables. “The whole building is coming out as nice as we expected.”

Haller is doing some of the construction and finishing himself, along with a number of local tradespeople and a mass of volunteers who share his compassion for the project, he said.

He is not a woodworker by trade but a self-described “type A” personality who had a career in soft ware beginning with his first start-up after graduation from RPI. Several businesses later, Haller is “devoted full-time” as president of an eight-person board of directors from within the community and “doesn’t mind spending a day sanding a piece,” he said.

Haller’s interest in woodcrafts began when he and his wife purchased an “1883 Victorian home that needed a lot of work.” He said that he observed different master craftsmen as they renovated the house and the experience helped him “understand and appreciate how the house was built and how to make repairs and improvements while keeping the beauty that has been there all along.”

As he looked around for access to a shop where he could practice his new skills, he found there was no such place in the area.

“I thought, why not create a communal environment with machines that can be used by lots of people, since it is hard to justify buying nice equipment for yourself as a hobbyist,” he said. “That is the mission we set out on.”

Haller had a “life changing experience” two years ago when he sold his last business and with his free time went back to school, enrolling in a three-month woodworking program in Maine.

“The school is a non-profit focusing on furniture making,” he said. “There are a few of these in the country and I could immerse myself full-time with amazing teachers and 10 other students.”

“Now we are building a bright, welcoming

Expert electrical service.

Courtesy Saratoga Joinery

space here in Saratoga,” said Haller. “There is a lot of talent in the community and woodworkers who want to share what they have learned.”

Whether a bowl or a desk, many who are new to wood crafts can learn how to make an object as well as how to avoid pitfalls at the Joinery. Haller said he hopes to bring many different types of instructors on board and that shop stewards will train people in safety and help them feel comfortable using the equipment.

Saratoga Joinery has employed two stewards and an executive director, Victoria Colarusso, who Haller describes as “the face of the organization.” Colarusso has not-for-profit experience managing communications and community leadership development for the Burlington, VT chamber of commerce.

Membership allows access to the space and equipment.

“Starting in January, we will be selling memberships starting at $85 a month with a discount for purchasing a full year,” she said.

The Joinery has every type of hand tool, saw and heavy machinery one would need as a woodworker. Such an investment is out of reach for most hobbyists, she said.

“A lot of woodworkers need their own shop in their basement or garage in order to do what they want to do, and many don’t live in a place where they have that luxury,” said Colarusso.

“Our goal is to make the space and the tools available to anybody who is a new woodworker or hobbyist looking to hone their skills,” she said. “We are not offering access to do commercial work.”

Hours have not yet been confirmed, but Colarusso said there will be weekend and evening hours to accommodate people with jobs during the regular work week.

The space also features a large conference area that will be rented out as a meeting space or a workspace, perhaps for a quilting group or other hobbyists, Haller said.

There will also be a curriculum of low-cost courses and training, such as introduction to woodworking, make-and-take classes to come in and finish a project in a few hours, how to mill rough wood, and other skills, she said.

“The feedback we have gotten from the community has been education,” she said. “Newcomers can take a class while they decide on a membership.”

Woodworking is an essential craft that “empowers people to build and repair instead of throwing away and buying new,” according to Colarusso. It also offers transformative life skills and mental health benefits.

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Haller said he knows of a seriously ill man who credits his recovery to the focus he put on woodworking because “it gave him purpose and hope.”

Throughout his career Haller has been “a tech guy” but when operating a new non-profit organization “there are still problems that need to be resolved,” he said. The big difference between these divergent careers is that now there is “a tactile element. You see and smell the wood, immerse yourself in a project, and see the art in it.”

Most of the equipment and machines were purchased new or used and some were donated. Haller said “there is still a need for lots of hand tools and people are dropping off donations regularly.”

People from the community are also donating their time and skills as electricians, painters and general workers, an outpouring that is helping Haller and the team prepare for opening in the weeks ahead.

“Community support has been incredible,” said Colarusso. “We envision Saratoga Joinery as a hub for everyone to create, become inspired and connect with each other.”

Hence the name “Joinery,” Haller said. It means not only the ways two pieces of wood join together but also the ways people can join together “in a safe, inclusive and collaborative environment here in the Capital District.”

Colarusso said that any local non-profit organization that needs help with a project that the Saratoga Joinery can help tackle, it should contact her at tori@saratogajoinery.org or submit a proposal on the website.

in Clifton Park for about 25 years. They receive a modest grant from the town but otherwise depend upon volunteer workers and donations to keep going. The town is also helping with the move and provides some rehearsal space.

“We try to be wise in the way we spend,” Rossi said. They also plan to continue offering free theater. “We are not at a place where we are looking to charge admission,” he pledged.

Shows are presented in schools, a library, and an outdoor theater stage. The last show was staged at the Edison Club, a private golf club. The club has a restaurant and offered dinner and theater packages and a bar at intermission. If all goes well, the company’s next show, “Gypsy,” will also be presented at the Edison Club. That is scheduled for April and May. The summer production of “Footloose” is schedule for late July at the outdoor stage, “a really great venue,” where people bring blankets and chairs.

12 • SARATOGA BUSINESS JOURNAL • DECEMBER 2023

SPECIAL SECTION

SARATOGA BUSINESS JOURNAL

Retirement Planning

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Business Report Know the Key Benefits of a Roth IRA

BY ROB SNELL As you save for retirement, you’ll want to take full advantage of the investment vehicles available to you — and one of the best is a Roth IRA. But what sets it apart from other accounts?

Three key factors distinguish the Roth IRA: • Tax-free earnings – When you invest in a Roth IRA, your earnings can grow tax free, provided you don’t begin taking withdrawals until you’re 59½ and you’ve had your account at least five years. If you don’t meet these criteria, withdrawals of earnings will be subject to taxes and a possible 10 percent penalty.

• No penalties on withdrawals of contributions – You fund a Roth IRA with after-tax dollars, which means you can withdraw your contributions — not the earnings — at any time for any reason, without facing taxes or penalties. So, you could use some of your Roth IRA money for non-retirement purposes, such as helping pay for a child’s college education.

• No required withdrawals at age 73 – With a traditional IRA or a 401(k), you must start taking withdrawals — called required minimum distributions, or RMDs — once you reach 73.

But this rule doesn’t apply to a Roth IRA — you can keep it intact as long as you like. You may need to tap into it for some of your retirement income, but if you don’t use it all, the remainder could benefit your beneficiaries.

A Roth IRA does share one similarity to a traditional IRA: It can be funded with virtually any type of investment, including stocks, bonds, mutual funds, certificates of deposit (CDs) and so on.

However, unlike a traditional IRA, a Roth IRA does have income limits.

For the 2023 tax year, if your modified adjusted gross income was less than $138,000 (for a single fi ler) or $218,000 (married fi ling jointly), you can put in the full amount of $6,500 and an additional $1,000 catch-up contribution if you’re 50 or older. The amounts you can contribute will gradually decline at higher income levels and are phased out entirely at $153,000 for single fi lers and $228,000 if you’re married and fi le jointly. These income ranges will likely change for the 2024 tax year, so you’ll want to

• •

Rob Snell, financial advisor, Edward Jones Financial in Saratoga Springs. consult with your tax advisor for details.

Still, even if you’ve contributed to a traditional IRA or a 401(k) for many years, you may have a chance to eventually “convert” some, or all, of these funds to a Roth IRA and gain its benefits. It’s not hard to do this conversion — it involves minimal paperwork from your traditional IRA or 401(k) provider — but it does come with tax issues.

Any money that’s converted from a traditional IRA or 401(k) to a Roth IRA will be treated as ordinary taxable income. This can trigger a large tax bill, so, unless you have the money available from other accounts to pay the taxes, the conversion may or may not make sense for you. But you don’t have to convert all the funds at once. By spreading the conversion over several years, you could reduce the effect of a large tax hit in any single year. You may want to consult with your tax advisor before converting any funds to a Roth IRA. If you can find a way to contribute to a Roth IRA, either directly or through a conversion, consider it carefully — you’ll find a lot of upsides to this investment account.

More To Read . . . More Leads For You. (518) 581-0600

SARATOGA BUSINESS JOURNAL

Business Report Long-term Care and Care Giver Considerations

BRIAN M. JOHNSON, MBA, CLTC It’s no secret that Long-Term Care services such as In-Home Care, Assisted Living, Memory Care and Skilled Nursing can be financially devastating. Depending on the need, these costs can easily surpass $10,000-$15,000 per month. The high cost means that not everyone will be able to get professional care. In those cases, who will provide care and what does that mean for those care providers? Today’s care environment is both a challenge for giving and receiving care. Whether by necessity or preference – care is often provided by loved ones (informal, unlicensed) at home.

According to “Long-Term Care in America: Americans want to age at home” and a 2020 study by AARP, 88 percent of Americans would prefer to receive ongoing living assistance as they stay at home, 70 percent of people who provide care do so out of necessity, and 21 percent of Americans are currently caregivers. As the Baby Boom generation ages, these numbers are only going to increase.

According to “Caregiving in the U.S., AARP, 2020,” 36 percent of caregivers report high emotional stress and more than half of caregivers report financial strain from caregiving.

This includes an end or pause to saving for their own future, taking on more debt, using personal savings and paying bills late or sometimes not paying them at all. In a 2018 report by the Harvard Business School, it’s estimated that if a caregiver is of working age, there is a 32 percent chance he or she will have to leave the workforce all together due to their caregiving responsibilities. If a caregiver remains employed, his or her work often suffers as they are typically tired, stressed and not able to fully concentrate on their job.

So what are our solutions? There’s no “silver bullet” here, but there are tools that can help Americans finance their potential need for care so they’re not a burden to those they love.

Medicare and Medicaid Pros: It’s a government funded program.

Cons: The system is difficult to navigate and getting more restrictive. Medicare generally only covers acute care on a short-term basis (less than 100-days). Medicaid typically pays for care in a nursing home and requires an individual to financially qualify.

Personal Savings / Retirement Assets Pros: If care is never needed, assets remain intact, creating a legacy for heirs.

Cons: If care is needed younger in life, there are steep penalties for accessing tax-deferred

•

Br ian John s on , direc tor, bu siness development at Advisors Insurance Brokers. retirement accounts early. This can disrupt retirement plans or greatly impact a spouse’s standard of living if assets are needed to pay for care.

Insurance (Long-Term Care and Hybrid) Pros: These policies often have robust benefits to pay for Long-Term Care services and will typically last longer than using one’s personal assets.

Cons: There are few companies offering such coverage, premiums are often cost prohibitive for most Americans, premiums in many cases are not guaranteed, and qualifying medically for coverage can be difficult.

Home Healthcare Plans Pros: These policies are a new innovation in planning and act more of a subscription-based plan like AAA. There’s no medical underwriting, premiums are much more affordable than Long-Term Care insurance and offer subscribers up to a maximum of 10,000 hours of home healthcare.

Cons: These policies only pay for home healthcare. If assisted living or nursing home is needed, these plans do not pay.

So where do you go from here? Many of us have experienced the impacts of care firsthand.

Whether it’s seeing the financial cost of care for a family member or witnessing the strain put on a friend caring for a loved one – the care crisis is all around us. The question is: what will we do about it? There are options, but one size does not fit all. To start, call our office and ask for our free planning guide. The telephone number is 518-688-8154.

SARATOGA BUSINESS JOURNAL • DECEMBER 2023 • 13

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Business Report Be Retirement Ready in 2024

BY DAVE KOPYC Eventually in life we must face the reality of building out our own personal retirement plan for the golden years. We live in a society today where most of us will not have a pension benefit from our employer and we will have to take our life’s savings to create a paycheck once we lose the employer’s weekly or biweekly payment we receive in our working years.

For some of you that are reading this article it will send a chill up your spine with anxiety to think that this daunting task can be handled with great concern and respect for you, the individual that is receiving the payment and it is specific to you and your individual needs. The cookie cutter approach where you are grouped into an investment or specific type of investment program can cause you to lose some of the personal touch that you may have had during your accumulation years.

Retirement income distribution is probably the most important decision you will make in your pre- and post-retirement years. There have been many different strategies and concepts to accomplish retirement income in my 42 years of being in the financial services industry, and every strategy has pros and cons and should be specific to you and your family - no matter what the strategy may be. It is critical that 100 percent of your hard-earned assets do not go into any investment program. Diversification is your friend and low cost and flexibility follow closely behind.

For many years we have had very little opportunity in yields that are sufficient to pay your bills and protect your principal. That is not the case now and we have investments that exceed 5 percent as I write this article, and having money market accounts that are approximately the same rate with liquidity and flexibility to get to the assets. Risk assets was a choice that was selected by a lot of individuals because of the financial markets and the circumstances we were in with the Federal Reserve and the prolonged low interest rate environment. Most individuals that wanted safety and guarantees had very few choices, so they gravitated to risk assets. That is not the situation today and you need to be aware of the opportunities that exist.

I have seen many individuals that allocated retirement assets into investments that were not suitable for them for risk that they wanted for their retirement years. There should be a careful understanding that these hard-earned assets need to last a lifetime which for some of us could be three to four decades. Many investment banking firms are now developing programs that will address lifetime income and will be available to participants in 401k programs dur-

JPMorgan Chase Continued From Page 1

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Chase’s expansion in Saratoga Springs adds retail and business banking to New York’s Capital Region where the fi rm already has eight branches operating. The branch team of six employees are from and live around Saratoga Springs.

“When Chase enters a community, we bring the resources of a global institution

with a focus on local solutions,” said Elliot Edwards, Market Director for JPMorgan Chase’s Consumer Bank in the Capital Region. “In addition to going above and beyond to serve our customers, we are going to engage and collaborate with our neighbors to create more equitable economic growth here in Saratoga Springs.”

Local Author's First Book Continued From Page 5

Dave Kopyc is President at Retirement Planning Group, LLC ing your accumulation years. I am a major advocate for baseline income for all individuals that reach retirement to pay for their basic expenses, so you have comfort and very little stress in the golden years of your life.

Once you have allocated your retirement assets into your baseline income, we look to allocate assets for growth and purchasing power, so dollars today have the same purchasing power over the next two to three decades. This article will not address these concepts but in future articles, I will discuss them in greater detail.

I’ve been fortunate to work in the financial services business for 42 years and to say it has changed is an understatement. Most of the firms today have teams that work together to facilitate the needs and complexity of not only investment management, but also estate and asset protection during your retirement years. It is estimated that the “Boomer” generation will transfer the greatest wealth in the history of mankind, estimated to be more than 70 trillion dollars.

Women are poised to inherit a large portion of this wealth, and it is imperative that they feel comfortable with their advisor and legal team that will help facilitate the ultimate destination of this wealth transfer. A lot of this wealth is in qualified assets such as IRA, 401K, and 403B plans which are complicated assets at death and need considerable amount of attention for legacy planning purposes. These assets also need to be considered when your advisor discusses wealth transfer that will ultimately come to them.

If you are young and just getting started building out your retirement plan, it is important to find someone to help you through this

Author Fair at the Saratoga Farmer’s Market at the Wilton Mall on Saturday, December 16 from 9-1 p.m.; Nacre’s performance of the Nutcracker at the Egg in Albany on Saturday, December 16, prior to the 7:30 performance; and Saratoga Outdoors, 490 Broadway, on Sunday, December 17, from noon to 3 p.m.

The new release retails for $21.99 plus tax Francine Dingeman is a first-time author who passionately enjoys the art of rhyme and has a deep appreciation for the creative use of words. She is the owner of the event development/marketing company, Network Saratoga ( https://www.networksaratoga. com/), and General Manager of Loud Media

(Star Radio 93.3FM and Lake George Radio 93.5FM).

Originally a “Jersey Girl” from Secaucus, NJ, Dingeman lives in Saratoga Springs where she enjoyed raising her three children and now delights in sharing her beautiful surroundings with her five grandchildren, all of whom reside in the area.

The completion of this book is the fulfillment of a lifelong dream for Dingeman and reaffirms her belief that the possibilities in life are endless. Visit www.francinedingeman.com for more information. Follow The Animal Menagerie on Facebook https:// www.facebook.com/TheAnimalMenagerie

ever-changing landscape. I am a major advocate of working with an independent financial advisor who works through an open architecture platform that has no bias to any one investment or insurance product. Not everyone is suited to risk assets and some individuals have a hard time riding the roller coaster of volatility in the markets. It is imperative to ask questions and make sure the team you select has the capabili-

ties to meet your personal investment needs and provides you guidance through all stages of your life.

We are at the end of 2023, and we tend to make new year’s resolutions. My suggestion is to stop procrastinating and find a team of professionals to help you achieve your goals for the future and make 2024 the year that you get it completed.

Merry Christmas and Happy New Year to all!

14 • SARATOGA BUSINESS JOURNAL • DECEMBER 2023

Belmont Stakes

Continued From Page 1 will have people staying and spending money in Malta, Clifton Park, Moreau, Glens Falls, Albany, Lake George and Schenectady,” Shimkus said.

The Belmont Stakes attendance record of 120,139 was set in 2004 when Marylou Whitney’s horse, Birdstone, upset Smarty Jones. Birdstone was trained by Hall of Famer Nick Zito whose horse, Da’Tara, won the 2008 Belmont, too.

The 2024 Belmont Stakes will have a $2 millin purse, but its length will be reduced from 1.5 miles to 1-¼ miles because of the Saratoga track’s smaller size, and crowds will be capped at 50,000 people.

Rachel Boggan, of Saratoga Arms Hotel, said, “We’ve been fielding interest about these dates for quite some time, had a list of some guests who’ve been ready and waiting in the wings for the official announcement.”

On Travers Stakes Weekend, in late August, many people stay downtown on Friday and Sunday, but spend all day Saturday at the track, Shimkus said.

“It’s our job to try to keep people downtown,” Devitt said. “We’re working on trying to get watch parties and different activities during the actual races. A group of us are going to brainstorm, working as a united front on media exposure here in town and countywide, to showcase everything the best we can. We have a lot of planning to do in a short amount of time. It’s going to be awesome.”

Devitt said that she and Shimkus, Saratoga Economic Development Corp. President Greg Connors and Discover Saratoga (Convention and Tourism Bureau) President Darryl Leggieri will be working with New York Racing Association to plan for and promote the Belmont Festival.

In addition to local businesses, the festival could shine media exposure on the Saratoga area’s arts, cultural and historic attractions, open spaces and state parks, furthering enhancing future tourism, Shimkus said.

“No doubt, more people will watch the Belmont Stakes at Saratoga on television and online versus in-person, so we’re working to make sure that media from around the world showcases our community so people watching at home, wher-

ever that is,decide they want to visit Saratoga one day in person,” he said.

In 2023, Saratoga Race Course had an average daily attendance of about 27,000. The four-day Belmont festival is expected to feature more than 40 races including 23 stakes races with purses totaling $9.7 million.

New York-bred Tiz The Law, owned by Saratoga Springs-based Sackatoga Stable, won the 2020 Belmont Stakes and Travers. Managing Partner Jack Knowlton said crowds on Thursday, Friday and Sunday of the festival will be much larger in Saratoga than they would be at Belmont Park.

“It’s going to be a huge national and international story for four days,” he said. “People all over the country are going to be betting Saratoga, just like they do in the summertime. There will likely be some European horses in turf races and you might see a Japanese horse in the Belmont.”

Sackatoga Stable has 10 horses, each one owned by a syndicate of multiple investors totaling 114 different people. “Hopefully the condition book will work so we can have our people come and have their horses participate in this four-day racing festival,” Knowlton said. “Saratoga is really the big time for Sackatoga and our partners from all over the country to come in and see their horses.

We’ll be able to do a couple of social events around this four-day meet. It’s a big boost for racing.”

Prior to the Belmont festival, the regular Belmont spring and early-summer meet will be held at Aqueduct Race Track and return there after the festival. The Belmont fall meet will again be shifted to Aqueduct in 2024 while construction of a new Belmont Park continues.

Normally, trainers that race in Florida during the winter ship horses north to Belmont in April and May for the spring and early-summer meet there. This year, some trainers might ship directly to Saratoga and keep horses here longer, which would benefit local farms and businesses that provide feed and hay.

“It should be the best summer of all time for businesses in Saratoga Springs,” said Patrick McKenna, NYRA vice president for communications.

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•

Business Report Keeping Compliant: 4 Changes to 2024 Payroll

BY MARTIN PATRICK, SPHR, SHRM-SCP As we approach the start of the new year, key updates to the way you manage your business payroll are on the horizon. Here’s a closer look at four of these changes and how they will affect both employers and employees.

1. Salary Threshold for Certain Wage Protections: On March 13, 2024, the salary threshold for certain wage protections will increase from $900 to $1,300 per week.

Right now, employers are exempt from some requirements when employing workers in executive, administrative, or professional capacities and whose earnings exceed $900 per week.

These include paying clerical or other workers “not less frequently than semimonthly;” obtaining the advance, written consent of employees before paying wages via direct deposit; and being guilty of a misdemeanor for failing to provide benefits or wage supplements within 30 days after they are due.

The exemption from these requirements will now apply to employees with earnings that exceed $1,3000 per week.

Employers should review their current payroll practices and make any adjustments to help ensure compliance. For example, an employer could increase employee compensation to meet the new threshold or ensure that employees below the threshold are no longer exempt from these employer obligations.

2. Paid Family Leave Contributions: New York State employers are required to provide paid family leave (PFL) to covered employees. Paid leave can be taken for various family or medical reasons. The program is paid for by employees through an additional payroll deduction. Or employers can pay the cost on their employees’ behalf.

Beginning January 1, 2024, the employee contribution rate will decrease to 0.373 percent of gross wages. The annual maximum contribution will be $333.25. Employees utilizing PFL benefits will continue to receive 67 percent of their average weekly wage, up to a cap of 67 percent of the New York State Average Weekly Wage (NYSAWW) of $1,718.15 meaning the maximum weekly benefit for 2024 will increase to $1,151.16.

Employees earning less than the NYSAWW will contribute less than the annual cap of $333.25, consistent with their actual wages.

3. Minimum Wage Increases: The minimum wage rate will be on the rise once again across the state. For New York State (outside of New York City, Long Island, and Westchester County), the mini-

•

Martin Patrick, SPHR, SHRM-SCP is HR Consultant Practice Leader at GTM HR Consulting, Inc. Courtesy of GTM HR Consulting, Inc.

mum wage will increase from $14.20/hour to $15/hour on January 1, 2024. In 2025, this rate increases to $15.50/hour and then to $16/hour in 2026.

Starting in 2027, annual minimum wage increases will be based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), keeping pace with inflation and regional living costs.

Employers who pay at or close to minimum wage should evaluate regular and overtime pay rates to make sure they meet the new rates for 2024.

4. Wage Theft Claims: Governor Hochul recently signed legislation that will go into effect March 13, 2024, limiting the exemption status and expanding the number of employees who can bring claims for wage theft.

With this amendment, employees who make less than $1,300 per week (about $67,600 per year) can bring wage theft claims in court or before the New York State Department of Labor. Previously, only employees who made $900 per week or less could bring such claims before the labor department.

Governor Hochul also signed the Wage Theft Accountability Act, which includes “wage theft” in the definition of larceny. The nonpayment or underpayment of wages will be considered a felony offense.

The aim of these pieces of legislation is to protect employees and their wages. However, employers could now face criminal penalties for noncompliance.

Claims for wage theft include unpaid wages, illegal deductions, unpaid wage supplements, minimum wage, and overtime pay.

Clerical and other non-exempt workers must be paid not less frequently than semiContinued On Page 14

SARATOGA BUSINESS JOURNAL • DECEMBER 2023 • 15

Southern Adirondack Independent Living Continued From Page 10

• dred of dollars through the private home care sector.

One of the agency’s most well known services is the equipment loan program, where people can come in and borrow medical equipment.

“Most people go to SAIL to get their walkers or wheelchairs, but we have so many other devices available for loan for recreational activities as well, such as a beautiful beach wheelchair,” said Whitney.

But there are other types of equipment on loan, too. Whitney said SAIL has devices available to help someone to school or get back to work or to continue working. These include technical equipment such as readers, translators, enlarged keyboards, ergonomic supplies, large monitors and monitor stands, to name a few examples.

Whitney said people in the community don’t know SAIL is essentially in the employment industry because programs and services are helping people with disabilities become employed or keep them in their jobs.

“Sometimes disabilities happen later in life,” he said. “We are one bad car accident away from being in a wheelchair. Trying to figure out life after that can be hard.”

For children with disabilities at a young age,

SAIL has an early intervention room at the Queensbury center.

“A lot of that service has to do with sensory material,” said Whitney. “We had a representative from a school district here who said the items from SAIL were ‘a game changer’ for their students.”

This meant that students in the district who had otherwise had behavioral issues were getting the kind of stimulation they needed to be calm and learn, he said.

SAIL has a staff of 45 working from locations in Queensbury, Plattsburgh and the Wilton Mall.

Equipment is on loan from the Queensbury and Wilton centers.

Whitney said that there are so many ways SAIL helps the community, it is not easy to know how to best utilize its services. That is why he said, “Just call us. Tell us what your problem is, what you are facing, and we will help you understand all the support services available to you.”

SAIL serves such a large geographic area, at times they need rooms or offices for staff to meet with community members or to hold an event.

Any business willing to donate space is encouraged to reach out by calling Cam Cardinale at (518) 792-3537 or visiting www.sailhelps.org.

Keeping Compliant Continued From Page 14

monthly. Employers must obtain advance written consent before paying wages via direct deposit.

If an employer is found liable for wage theft, potential penalties can range from $500 to $20,000 per offense, depending on the severity of the violation.

New York employers may now have a larger group of employees who can bring wage theft claims and should work with their human resources department to make

any necessary changes to payroll procedures before the law goes into effect. For example, employers should obtain written consent for direct deposit from this new group of nonexempt employees.

Updates and information provided by GTM Payroll Services are not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.

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16 • SARATOGA BUSINESS JOURNAL • DECEMBER 2023

SARATOGA’S LARGEST AND BEST SELECTION OF FINE WINES & SPIRITS WITH OVER 9,000 PRODUCTS.

WINE PAIRINGS FOR CHRISTMAS DINNER HAM

PRIME RIB

SEAFOOD

The sweet and salty notes of ham often pair well with wines that feature a little sweetness, including Moscato, Zinfandel and Rieslings.

The bold and hearty flavors of steak often pair excellently with cabernets and Malbec wine. You can also serve steak with Zinfandel or merlot.

When looking at seafood and wine pairings, things can get a bit more tricky. This is our recommendation to go with your variety of 7 fishes.

DOMAINE FONT SARADE VACQUEYRAS LES HAUTS DE LA PONCHE 2020

ANCIENT PEAKS PASO ROBLES CABERNET SAUVIGNON 2020

2022 ALPHONSE MELLOT LA MOUSSIERE BLANC

750 ML

750 ML

$19.99

$18.99

750 ML

$39.99

Elevate your festive feast with more personalized wine pairings— tell our specialists what you’re having to ensure a perfect match for your holiday dinner!

Browse over 30 different Gift Sets. Priced the same as if you were just buying the bottle!

Wine Tastings are 4-7pm on Dec. 8, 15, 19, 20, 21, 22 & 29. Perfect to try before you buy!

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