Saratoga Business Journal - March 2023

Page 1

To Yet Undisclosed Group

Landmark Saratoga Springs Restaurant, Sperry’s, Is Sold

Bass Pro Shops Plans To Open Its Newest Store In Clifton Park, Its 4th In New York State

Scott Johnson and partners have welcomed guests to Sperry’s Restaurant since 2010 when they reopened the iconic Spa City landmark, which had been closed for about a year.

The popular eatery entertains a “Who’s Who” list of horse racing industry celebrities each summer.

“Anybody who’s anybody has eventually ended up at Sperry’s,” said Johnson, an attorney and former three-term (2008-13) Saratoga Springs mayor. “It would be easier to tell you

who hasn’t come here than who has.”

But after 13 years, his group is handing stewardship of the establishment to new undisclosed owners. He declined to identify the party’s identity pending completion of the sale, but said they’re experienced restaurant owners.

The sale is under contract with a closing date on or before April 15.

“It’s time for me to start downsizing what I deal with on a regular basis,” Johnson said. “The restaurant was one of those things. I

Continued On Page 4

Pavilion Grand Hotel On Lake Ave. Being Turned Into Boutique Apartment Community

A Hudson Valley-based company is in the process of converting the Pavilion Grand Hotel in downtown Saratoga Springs to a boutique apartment community called Perennial.

The property, at 30 Lake Avenue, previously a hotel before transitioning to extended stay residences, was purchased in December 2021 by Aker from Prime Companies.

Comprised of 48 residences, Perennial offers pet-friendly, comfortable living spaces including spacious studios, one- and two-bedroom residences and expansive penthouses. Its duplex penthouse apartments are designed for gathering, featuring open layouts with large private terraces, generous kitchens and separate wet bars.

Officials said the “Perennial” name is inspired by the year-round resident, an active participant in the community and a frequent consumer of local businesses and culture.

“Delivering this transition has been an exciting undertaking for us,” said Tina Ladd, Aker senior vice president. “The unique history of Saratoga Springs and the 19th century Pavilion Hotel, this property’s namesake, were inspiring elements to work with. It is our goal with all of our projects to engender a sense of community and encourage resident engagement.”

Aker’s vision for Perennial is to inspire its residents to “write their Saratoga Story, embrace the city’s downtown energy, stay in the know on the new and the interesting and meet friends, collaborators and creators,” a company statement said.

Perennial’s apartment interiors and common areas will receive a substantial upgrade as part of the rebranding. The existing fitness center will

be expanded and refurbished with new equipment; the entry lobby will be remodeled to accommodate residential living and include a café amenity; hallways will be redesigned; and the roof-top building amenity will be redesigned to include both interior and outdoor entertaining areas.

Common area improvements are currently in progress and newly renovated apartments are now available for lease.

To learn more about Perennial and book a tour, visit perennialny.com.

Bass Pro Shops, a national retailer for outdoor gear that bills itself as “North America’s premier outdoor and conservation company,” has plans to come to Clifton Park.

In February, Bass Pro Shops submitted an application to build a 70,000-square-foot “destination retail store” in Clifton Park at 400 Clifton Park Center Road, the former home of Northstar/ Mohawk Chevrolet.

If approved, the Bass Pro Shops Outpost store will employ approximately 100 full-time and

part-time workers.

The Clifton Park location—its fourth in New York state—will feature a custom design that will pay tribute to the great sporting heritage of the local region as well as to the sportsmen and women of New York, a company statement said. Within the store will be a large aquarium and water features stocked with native fish species, thousands of local antiques and artifacts, hundreds of trophy fish and wildlife mounts, and murals depicting local scenes.

Continued On Page 6

Chamber Of Commerce Presents ‘Restaurant Week’ Showcase From March 22 to 30

Saratoga County Restaurant Week is returning, being presented by the Saratoga County Chamber of Commerce from Wednesday, March 22, through Thursday, March 30.

The Chamber invites Saratoga County restaurants to participate for free in the popular event. Rather than set a fi xed price menu with limited options, restaurants have the flexibility to set their own prices and menus (for breakfast, lunch, dinner, and/or takeout) for customers to experience and enjoy.

“Th is event is designed to support all local restaurants in Saratoga County,” said Todd Shimkus, Chamber president. “Restaurants are still dealing with uncertainty and uncontrollable factors, such as staffi ng shortages, random food cost spikes, and packaging challenges. If this event can help them, then we want to make it as flexible and impactful as possible.”

“Driscoll Foods is thrilled to sponsor Saratoga County’s Restaurant Week,” said Steven Donnelly, division president, Driscoll Foods. “Our locally owned restaurants are an integral part of Saratoga’s thriving community, and we will do everything we can to support them. I look forward to seeing the menus these talented chefs come up with and enjoying a great meal with family and friends. I hope that others take this opportunity to experience all that Saratoga’s restaurants have to offer.”

Th is year, the event will include a gift card sweepstakes where no less than three lucky winners will receive prize packages of ten $100 gift cards to restaurants throughout Saratoga

County. Participants may enter the sweepstakes daily on the Chamber’s website, and winners will be selected and notified by email the fi rst week of April.

The Chamber would like to thank this year’s Restaurant Week Presenting Sponsors: Driscoll Foods, Capital Bank, WNYT, and My4.

“We are excited to work with the team at the Saratoga County Chamber to bring Restaurant Week back again this year,” said Scott Heff ner, senior vice president and director of marketing at Capital Bank. “With so many of our local restaurants offering exciting and unique options, we encourage the community to come out, especially this week, and support local dining.”

“We are proud supporters of local businesses in our communities, and Restaurant Week is a terrific way to extend our appreciation and partnership with the Saratoga Chamber,” said Jon Hitchcock, vice president and general manager, WNYT.

The Saratoga County Chamber of Commerce has been spearheading Restaurant Week for the last six years.

“We look forward to Restaurant Week every single year – as does the community,” said Shimkus. “When we dine in or take out at Saratoga County restaurants, we’re supporting local and ensuring restaurant owners can continue to keep their doors open to serve customers for years to come.”

For more and a list of participating restaurants and menus, please visit bit. ly/3YNsoXR.

BUSINESS
VOL. 28 NO. 01 ★★ The Business Newspaper of Saratoga County ★★ MARCH 2023 SBJ P.O. Box 766 Saratoga Springs, NY 12866 PRSRT STD U.S. POSTAGE PAID GLENS FALLS, NY 12801 PERMIT #600 www.saratogabusinessjournal.com
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JOURNAL
This is a rendering of an apartment that will be part of the Perennial housing community. Courtesy Aker The group that owns Sperry’s Restaurant on Caroline Street in Saratoga Springs has sold the establishment. It will remain a restaurant but new owners are as yet undisclosed. This is a rendering of the Bass Pro Shops store planned for Clifton Park. Proposed is a 70,000-squarefoot facility at the site of the former Northstar/Mohawk Chevrolet. Courtesy Bass Pro Shops

Personnel Briefs

Saratoga National Bank and Trust Co. announced the promotion of Leslie D’Angelico to business development sales manager.

D’Angelico will be responsible for day-to-day management of the business development team with a focus on developing, growing and deepening new and existing relationships across the bank’s footprint and business lines. She will also continue to support the bank’s retail branch teams.

D’Angelico has more than 20 years of experience in banking, 12 of which have been spent with Saratoga National Bank and the Arrow Family of Companies. In that time, she has successfully held leadership and individual producer roles within Retail Banking. She attended SUNY Adirondack and has completed several courses from the American Institute of Banking. She lives in Queensbury and is active in the community serving on two boards, Big Brothers Big Sisters of the Southern Adirondacks and Queensbury Community Scholarship Association.

Saratoga Hospital has appointed Scarlet Clement-Buffoline as the vice president of operations for ambulatory and physician services.

Clement-Buffoline has more than two decades of administrative experience in positions of increasing responsibility at Capital Region hospitals.

Most recently, she served as the executive director of Saratoga Hospital Medical Group, the hospital’s multidisciplinary practice. In that role, she was responsible for development

Items To Be Shipped In Crates To Prevent Damage Get Custom Care At Saratoga Crating

of a strategic plan for the Group, oversight of operations, and initiating processes to improve access to high-quality care in the region.

Clement-Buffoline will have oversight of the entire Saratoga Hospital Medical Group, as well as all outpatient services, including imaging, radiation oncology, regional therapy centers, and urgent care locations.

She holds a bachelor’s degree in psychology and health from SUNY Potsdam, and a master’s degree in counseling psychology from the University at Albany. A fellow of the American College of Healthcare Executives, she is board certified in healthcare management. She is also a member of the Association of Healthcare Management – Western New York and the National Council for Community Behavioral Healthcare.

The Saratoga County History Center announced the election of two new members to its board of trustees, Lynda Bryan and Karen James

The two new members are from Saratoga County and bring their longstanding knowledge of the region’s population to the History Center.

Bryan is the town clerk and municipal historian at Halfmoon. In addition, she is the president of the Halfmoon Historical Society, responsible for maintaining exhibits and a local research library in its building on the grounds of the town’s government campus

James has a 37-year career in information technology and has retired from New York

Continued On Page 15

Local entrepreneur John Bardino has expanded his shipping business brand with the opening of his newest business, Saratoga Crating.

He opened the new shop after his Mail Center USA pack-and-ship company, also in Clifton park, was hired to ship items that were sold at the Jim Taylor auction in Gloversville. That October auction included a collection of 131 classic vehicles, as well as tables full of automobilia—collectibles related to classic cars.

“It was a $21 million auction, and they called on us to pack and ship a lot of the stuff. It took two and half months, and there were some large neon signs and a lot of other things that needed to be crated rather than corrugated (packed in a box),” said Bardino. “So, we just ventured into crating right then and there. I hired my first subcontractor—a builder—and we started building the crates.”

Saratoga Crating operates out of Mail Center USA’s location at 641 Grooms Road in Clifton Park. Bardino also owns Saratoga Classics, an online used auto parts retailer, as well as Milton Pack and Ship at 15 Treible Ave. in Ballston Spa.

He relies on a staff of three employees to run his businesses and hires subcontractors to help with

large crating jobs.

Saratoga Crating specializes in shipping oversized, fragile, heavy items—everything from industrial machinery to medical equipment. The company builds crates that can be shipped by air, land, or sea.

Saratoga Crating utilizes spec-driven computer programs that determine the appropriate dimensions for each custom-built crate. Items within the crates are packed, blocked, and braced in order to ensure they are not damaged during shipping.

“They are custom crates, and we build them on-site,” said Bardino. “We can either pick up the customer’s merchandise and bring it back to our shop, or we can go to the client and measure the merchandise. When we do that, we come back to our shop and build the crate and then go back with the crate and load it.”

Since opening recently, Saratoga Crating has crated and shipped many interesting items including artwork bound for Hong Kong and a large neon Pegasus sign sent to North Carolina.

The three stores also provide document shredding and destruction of and hard drives.

The company can be reached at 518-310-6422. its website is saratogacratingcompany.com.

2 • SARATOGA BUSINESS JOURNAL • MARCH 2023
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Lake George Mayor, Saratoga Native, Key Tourism Official,Leaving Office After 52 Years

When Bob Blais—Saratoga Springs native and graduate of Saratoga High School—took the office of village of Lake George mayor there was only one special event in Lake George, a weekly Tuesday night band concert.

Now there’s an endless variety of year-round attractions such as Americade motorcycle rally, Adirondack Nationals car show, Ice Castles and a full lineup of events at Charles R. Wood Park’s Festival Commons like the Adirondack Wine & Food Festival and numerous concerts.

Together they draw tens of thousands of visitors to Lake George each year, which drives the local tourism economy. But without Blais' leadership, it may not have been possible.

“People say, ‘How come you’ve been mayor for 52 years?’ It just takes me longer,” he said. “But I like to think when we get it done, we do it right.”

Blais’ career as America’s longest-tenured mayor is scheduled to end March 31 when his retirement takes effect. But his contributions to the area’s economic development will be felt for many years to come.

“His greatest attribute is his clear passion for the area,” state Sen. Dan Stec said. “It comes through in everything he says and does. Any time you talk to Bob Blais you can see this true love of Lake George. He’s been so long-tenured there, he’s synonymous with Lake George. He’s an icon.”

“I’m astounded at his longevity, continued energy and health,” Stec said. “I always tell him, ‘Bob, you need to find a way to bottle and sell it.’ He should because he’s got the Fountain of Youth secret somewhere.”

Blais, 86, plans to keep promoting Lake George after he leaves office in a new $35,000 director of special events position funded by the village, town and Warren County.

A 2022 study conducted for a proposal to dissolve the village (it was voted down) found that the mayor spent more than half his time working on tourism and special events.

“We ran 82 special events out of this office last year,” Blais said.

Plans call for him to continue in this capacity, giving new Mayor Raymond Perry, who’s running unopposed, a chance to get acclimated to the job without losing any of the tourism momentum that’s been built up over the past several decades.

This impact pays huge dividends for the entire region, but especially for Village of Lake George residents.

“When I leave office the village will have somewhere around $9.3 million in its coffers,” Blais said. “Between $3 million and $4 million of this is in the general operating checking account and there’s more than $3 million in surplus funds, which comes principally from parking meter revenue ($1.4 million annually). We put that in a separate account. We don’t even use it.”

“Last year we only raised $1.5 million from taxpayers for our $7 million budget. That’s unheard of,” he said. “All the services and special events we developed bring us a tremendous amount of money. If somebody wants a street light in front of their house or a sidewalk, we’ve got the ability to do that because of the tourism and special event fees.

The village gets about $1 million annually from sales tax, occupancy tax and special events fees.

During his 14 terms in office, Lake George was honored with an unprecedented four Empire State Local Government Achievement Awards. One was for saving taxpayers large sums with an aggressive policy of shared services with the

GlobalFoundries Providing General Motors With Chips For Advanced Vehicle Technology

General Motors Co. and GlobalFoundries have entered into a strategic, long-term agreement for the Malta-based company to supply computer chips for the automobile maker.

Through this agreement, GlobalFoundries will manufacture for GM’s key chip suppliers at GlobalFoundries’ advanced semiconductor facility in upstate New York, bringing a critical process to the U.S., officials said.

The agreement supports GM’s strategy to reduce the number of unique chips needed to power increasingly complex and techladen vehicles, the company said. With this strategy, chips can be produced in higher volumes and are expected to offer better quality and predictability, maximizing high value content creation for the end customer.

“GlobalFoundries will expand its production capabilities exclusively for GM’s supply chain, enabling us to strengthen our partnership with the automotive industry and New York state, while further accelerating automotive innovation with U.S.based manufacturing for a more resilient supply chain.”

U.S. Sen. Charles Schumer called the pact a “first-of-its-kind agreement” that “is going to drive the Capital Region economy forward and ensure Upstate New York remains in the driver’s seat as one of the nation’s leading hubs for semiconductor manufacturing that is so critical to the supply chain of the auto industry.

town. In early February, the village and town boards and their department leaders met jointly to discuss every single shared service, looking for ways to make them better.

“That’s the type of cooperation you need between two communities,” Blais said. “We share more services than anywhere else in state.”

Lake George was the second village in the state to eliminate its police force, and relies solely now on Warren County Sheriff ’s Department and state police patrols.

Another award was for starting the Greater Glens Falls Trolley System that carries people between Lake George and Glens Falls during the summer months. In addition to tourists, it’s a primary mode of transportation for many seasonal employees who staff local restaurants and hotels, which are essential to healthy tourism industry.

A third award was for working with Student Connection, a program that brings many foreign exchange students to Lake George, filling muchneeded hospitality- and tourism-related jobs each summer.

Lastly, the village was recognized for creation of the Lake George Recreation Center, which was paid for strictly by grants, no local funding, and built with volunteer labor.

Things haven’t always come easy, though. For example, it took Blais a long time to convince property owners about the benefits of creating a lakefront walkway. “People said, ‘You want to put that in back of my business? I’ve got docks there with boats on it. People will steal boats, damage docks and damage my property’,” he said.

But it’s turned out to be a highly popular feature with visitors and brings foot traffic to numerous lakefront businesses.

“There’s been resistance any time we ever tried to do anything here that involved change,” Blais said.

However, he never quit and has never been one to rest on his laurels. Just a few weeks ago he oversaw the first meeting of a new Winter Task Force designed to create new activities for people to enjoy when visiting Lake George from December to March. The goal is to specifically give guests things to do when Mother Nature doesn’t cooperate, and there’s little snow or ice for outdoor festivities.

“We want to make sure there are stores and restaurants open,” Blais said. “We’re looking at a whole wide array of things like an indoor skating rink, and drive- or walk-through light show. We should always keep looking at something new.”

Semiconductors are the foundation of the technologies that are powering the electrification, autonomous driving and connectivity of the auto industry, and they have been center stage in the global chip shortage that has impacted automakers the last couple of years.

“We see our semiconductor requirements more than doubling over the next several years as vehicles become technology platforms,” said Doug Parks, GM executive vice president of global product development, purchasing and supply chain. “The supply agreement with GlobalFoundries will help establish a strong, resilient supply of critical technology in the U.S. that will help GM meet this demand, while delivering new technology and features to our customers.”

Dr. Thomas Caulfield, president and CEO of GlobalFoundries said his company is “committed to working with our customers in new and innovative ways to best address the challenges of today’s global supply chains.

“I have long said that Upstate New York’s semiconductor corridor will be a major engine powering America’s technological future, and now ‘Made in New York’ chips will help jumpstart the next generation of vehicles for GM across the country.”

Gov. Kathy Hochul said, “We’re making New York State not only the semiconductor capital of the country — but of the globe. This agreement will help to further establish New York state as a major hub for semiconductor manufacturing. With our nation-leading Green CHIPS legislation and the new Governor’s Office of Semiconductor Expansion, Management, and Integration, we are helping businesses like GM and GlobalFoundries expand the chips manufacturing ecosystem in our state, creating jobs and opportunities for generations to come.”

General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at www.gm.com.

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Bob Blais, a graduate of Saratoga High School, has been Lake George mayor since April, 1971. Paul Post

Publication Date: April 6, 2023

Nominations For Dalton Community Service Award Being Accepted By Saratoga Chamber

Publication Date: May 4, 2023

The Saratoga County Chamber of Commerce is now accepting nominations for the 2023 Joseph Dalton Community Service Award.

The winner will be honored at the Chamber annual gala on May 11.

Nominations should be emailed to Todd Shimkus, Chamber president, at tshimkus@ saratoga.org no later than Friday, March 24.

“Each and every day, we experience what it’s like to live in a thriving community thanks, in part, to individuals and organizations who work tirelessly to make Saratoga County one of the best places to live, work, and play,” said Shimkus. “It is an honor to have the opportunity to recognize a few select individuals who have made a remarkable commitment to our community.”

SARATOGA BUSINESS JOURNAL

Sperrys

Continued From Page 1

decided it was time to sell. We’ve been approached before by people who showed interest. The timing wasn’t’ right. Th is time around was different.”

“I’ve been assured that the Sperry’s name will continue and key staff will hopefully stay on board,” he said. “If you’re looking at buying a restaurant like Sperry’s with its longstanding history and reputation, you’d be foolish to do away with what’s worked for many years.”

The sale is for two separate entities, the restaurant business and the property at 30½ Caroline St., owned by JMO Partners. Johnson is managing partner of both.

He bought the restaurant with his wife, Julie, and partners Bob and Cheryl Ohanesian.

“We wouldn’t have bought Sperry’s Restaurant if the real estate wasn’t included,too,” Johnson said. “I’m a big believer in controlling my own destiny. We didn’t want to be at mercy of a landlord.”

First opened in 1932, Sperry’s was originally owned by Chubby and Cappy Sperry, which previously ran it as a Prohibition-era speakeasy before transitioning to a restaurant and bar. After Chubby Sperry’s passing, his wife ran things until 1979 when she sold it to John Rockwell and Ridge Qua.

Later, Qua became sole owner and eventually sold Sperry’s to Johnson’s group.

It is still the city’s second-oldest restaurant. Only Pennell’s, which recently celebrated its 90th anniversary, has been in business longer. Johnson’s group worked hard to maintain the site’s historic character, one of its most attractive qualities, while serving exceptionally fi ne fare in a casual, yet elegant atmosphere.

“Our history hangs on the wall,” he said. “There’s a lot of period photographs that go way

back. We wanted to preserve the tradition and ambience when you fi rst walk in the door, with the original black and white floor tiling and art deco lighting. We added red booths to make it more traditional looking.”

While the main dining room was kept the same, renovations to two other dining rooms, including one overlooking the back patio, have a more contemporary flair.

Johnson’s group also expanded the patio and had a 12-foot high acoustical wall built to keep noise out from nearby sources, so guests can enjoy themselves in a relaxed, outdoor setting.

The COVID-19 pandemic was challenging for the restaurant industry and Sperry’s wasn’t immune to such difficulties.

“But we survived and stayed open except for the time New York State forced us to close,” Johnson said. “We followed the guidelines to reopen and eventually got back to 100 percent capacity. Some diners are still apprehensive, but the pandemic’s biggest impact has more to do with a shorter labor supply.

“Previously, we were always at full capacity (about 85 employees) during the peak track season. The last couple of seasons we’ve been unable to fi ll all the positions because people just didn’t come back to the industry, they went elsewhere or the unemployment insurance was too good.”

In winter, Sperry’s has about three dozen workers.

However, Johnson said business has become more steady year round as Saratoga Springs’ popularity has grown as a four-season destination with a full slate of ongoing events on the calendar.

Johnson said COVID wasn’t the main reason for deciding to sell. He simply wants more time to pursue other interests such as partnering as co-owner of a small horse racing stable. “If we make money it will probably be lucky,” he said. “It’s a wonderful hobby. That’s part of what Saratoga is.”

The award was created by unanimous vote of the Chamber board of directors in 2017. It recognizes and honors Joseph Dalton, who served as president of the Chamber from 1970 to 2010. During his tenure, the Chamber’s membership, influence, and impact grew significantly as a direct result of Dalton’s leadership, passion, and commitment to establishing

Saratoga County as a great place to live, work, and play.

Past recipients include Steve Sullivan (2018), Tom Roohan (2019), John Munter Sr. (2020), Julie Stokes (2021) and Cliff Van Wagner (2022).

Th is is a community service-focused award to honor an individual who has served the community for a minimum of 25 years.

The Chamber said the individual selected will have proven, through their actions, “to be honorable, ready, relevant, innovative, and versatile, always doing what is right for the community.” They should have a legacy of “being forward deployed, meaning they’ve contributed to the community via volunteering their time, energy, and expertise, not just their money.

Ineligible individuals include people who currently work for the Chamber or are on its board of directors, and people whose work for the community was done as an elected or appointed public official.

The selection committee will use that criteria to choose one person from the list of nominations as this year’s honored recipient.

4 • SARATOGA BUSINESS JOURNAL • MARCH 2023
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Cliff Van Wagner accepts the Joseph Dalton Community Service Award last year. The Saratoga County Chamber of Commerce is accepting nominations for this year’s award through March 24. Courtesy Saratoga County Chamber of Commerce
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Owner Of Eddie F’s Seafood Expands With Opening Of 2nd Restaurant In Clifton Park

Business Briefs

The Saratoga Builders Association Inc. will be awarding two student scholarships in 2023.

One is the SBA $1,000 scholarship award and the other is the $1,000 Bob Best Memorial Scholarship award.

The organization makes the scholarships available annually to students who are planning to pursue a construction industry education. They are open to any high school senior or college undergraduate in Saratoga County planning to pursue a construction education at a two- or four-year accredited college or university; or to students who would like to purchase tools and/or equipment for employment/ career or to start a business in the construction industry.

Students must have a GPA of 3.0 or higher. They must demonstrate current or past involvement in the construction field, including classes taken in high school or college, to be eligible for these awards.

The 2023 Ballston Spa Farmers’ Market, sponsored by the Ballston Spa Business and Professional Association (BSBPA), will run from June 10 through Sept. 23. The market is now accepting vendors for the 2023 season. The markets will be held on Thursdays from 3-6 p.m. and Saturdays from 9 a.m. to 1 p.m. in Wiswall Park on Front Street, in downtown Ballston Spa.

The markets have been serving the local community since 2003. The mission is to bring together local farms and food/craft producers with consumers and to promote locally created products.

New and returning vendors can apply online at www.ballston.org/category/farmers-market.

Organizers are also looking for community volunteers to help on market days. Interested people can email nora@ballston.org to fi nd out more.

Eddie F’s New England Seafood, a Saratoga Springs mainstay, opened a second restaurant, in Clifton Park on Feb. 1.

The new outlet, at 1742 Route 9, is three times the size of the Saratoga restaurant and more of a conventional sit-down restaurant. The Saratoga restaurant, at 119 Clinton St. remains open.

In Saratoga, Eddie F’s specializes in what owner Eddie Fazzone calls “summer food.” In fact, in the past, he has closed during December and January.

Specialties at his restaurants include lobster rolls, fried fish, clams and similar seafood with most customers buying their food to take out. Orders can also be placed online at eddiefs.com. He offers gluten-free fried seafood, coated in corn flour. The regular fried items are lightly floured with no bread crumbs, he said. Most dishes come with a choice of onion rings or French fries.

During the Saratoga Race Course summer season in July and August, Fazzone operates a walk-up stand at the track.

In Clifton Park, he anticipates a somewhat older crowd, with a little less tolerance for fried foods. He said he expects more of a call for blackened and grilled seafood as well as chowders, salads, sandwiches, and burgers, in short, more of a conventional restaurant menu.

The new restaurant can seat 90, compared to about 35 in Saratoga Springs. In warmer weather, he will add outdoor picnic tables. There are about 18 employees, including four or five chefs, most of them new. While the staff learns the ropes, Fazzone

expects to spend most of his time in Clifton Park, overseeing the kitchen and doing much of the cooking.

“I’m in the kitchen a lot,” he said.

Eventually, he expects to divide his time about evenly between the two sites. Even now, he said, he starts his day in Saratoga, at 5 or 6 a.m.

The owner anticipates more of a yearround operation in Clifton Park than in Saratoga. He finds Saratoga Spring becoming increasingly seasonal with a lot of dark restaurants and shops on Monday evenings. He will be open on Mondays, in both locations, but closed on Sundays, at least for now. He will expand service to Sundays in the summer, if he can find enough qualified staff, he said.

On Tuesday, May 2, Eddie F’s in Clifton Park will host its first “cruise in,” welcoming classic cars and their drivers to assemble in the restaurant’s large parking lot. Sponsored by the Adirondack Mustang Club, the cruise-in was a regular feature of the Harbor House, Eddie F’s predecessor in the same space.

The gatherings will take place every Tuesday, beginning at 5 p.m., until September 26.

So far, Fazzone finds things pretty busy, especially during Fridays in Lent. There are not many places in either Saratoga or Clifton Park to get fish fry, especially for takeout, he said. His fish is sourced fresh from New England, mainly Massachusetts, but the lobsters come from Maine.

A native of Schenectady, Fazzone has been in the restaurant business “on and

Each applicant must also submit a high school or college transcript or list of construction classes taken plus a short essay describing why they are interested in a construction industry career and what events led to this decision.

Applications must be postmarked on or before April 1. Only the fi rst 25 completed applications will be accepted. The winner and their school will be notified by June 1.

To receive a scholarship application,contact Barry Potoker, executive director, at 518-3660946 or bpotoker@saratogabuilders.org.

off” for nearly 30 years. He has owned or worked at restaurants in Schenectady, Rotterdam, and elsewhere in upstate New York, and in Florida. His first New England seafood venture was a Florida restaurant called Bit of Boston. He brought the concept to

Updates on the market throughout the season can be found on the Ballston Spa Farmers’ Market Facebook page and at ballston.org.

* * *

The Saratoga County History Center is seeking vendors of handmade crafts, antiques, and farm products for the annual craft fair on Saturday, June 24, from 10 a.m. to 3 p.m.

No mass produced or commercially manufactured products will be permitted. Spaces are available outdoors, with limited spaces available indoors.

Visit brooksidemuseum.org/events/2022craft-fair for more information, or contact Beth Silvestri at (518) 885-4000 or bsilvestri@brooksidemuseum.org.

Saratoga Springs in 2016.

The restaurants are open from 11 a.m. to 8 p.m. Monday through Saturday. Closed on Sunday. The telephone number is 518 2806372. People can study the menu, with pictures, and order online at eddiefs.com.

SARATOGA BUSINESS JOURNAL • MARCH 2023 • 5
• •
Eddie Fazzone has opened a second Eddie F’s New England seafood restaurant, located at 1742 Route 9 in Clifton Park. His first restaurant is at 119 Clinton St. in Saratoga Springs. ©2023 Saratoga Photographer.com
* * *
SARATOGA BUSINESS JOURNAL ©2021 Saratoga Photographer.com
O’Donnell
Treasurers Reads
Paul
Owner Celtic

Bass Pro Shop Continued From Page 1

A gift and nature center will feature a wide variety of outdoor-themed and related items, including Big Cedar Home & Cabin décor and accessories. men’s, ladies’ and children’s apparel sections will offer a wide assortment of brands including RedHead, TrueTimber, ASCEND, Worldwide Sportsman, and Natural Reflections, along with other popular brands.

The Clifton Park Bass Pro Shops Outpost will showcase industry-leading boat brands as well as Tracker Off Road ATV’s and side-by-side vehicles. It will also host dozens of events throughout the year, many of which will be designed for children.

“The Adirondacks have played a huge role in our nation’s sporting heritage and our country’s world-leading history of conservation. We are honored to open our newest Bass Pro Shops in Clifton Park,” said Johnny Morris, a noted conservationist and founder of Bass Pro Shops. “This location will not only pay tribute to the region’s past, but will proudly outfit the sportsmen, women and families who continue to enjoy the Adirondacks today. For that, we are humbled, excited and deep down proud.”

Clifton Park Town Supervisor Phil Barrett said the Bass Pro Shops announcement was the culmination of several years of discussions with the retailer. Prior to that, the town had tried to attract Cabela’s to Clifton Park. Bass Pro Shops acquired Cabela’s for $4 billion in 2017, and they operate 160 stores throughout the country including the three in New York.

“For more than two decades, we have worked hard to revitalize our (Northway) Exit 9 commerce area. Along the way, we’ve been able to attract and diversify our economy to ensure that we can sustain the success of the economic driver that Exit 9 is for Clifton Park and Saratoga County,” he said.

“I’ve spoken with executives from Bass Pro and Cabela’s for a number of years. Both companies had interest in this marketplace, and now they are one company. They found the perfect location that they were looking for in Clifton Park, and the renderings that I have seen for the store are just incredible. It will be beautifully done and would be a great addition to our town.”

The next step will be for Bass Pro Shops to submit an application to the town planning department. After that, there will be a thorough review during which town officials will ensure that the company meets all town, state, and federal regulations.

Although it’s difficult to predict a timeline for the review process, Barrett expects it to proceed quickly.

“Probably in the four to six month time frame,” he said. “How long it takes depends on the project. A lot of it depends on how quickly the applicant is able to come forth with information. The only reason why an application has a lengthier review over and above what you might expect is when they aren’t expedient in providing requested information to the town.

“Since Bass Pro is a national company that is opening locations on a regular basis, I would expect them to be able to provide information quickly when requested.”

In addition to providing customers with outdoor products, the company said a team of artists and craftsmen will design the store’s localized imagery to reinforce its immersive outdoor theme. Its exterior and interior motifs have branded Bass Pro Shops as visually appealing, high quality outdoor retail destinations that customers love. Its website is www.basspro.com. Employment information, when available, will be posted at www.basspro.com/careers.

Card Catalog

SARATOGA BUSINESS JOURNAL

6 • SARATOGA BUSINESS JOURNAL • MARCH 2023 2002 Business Of e Year e Chamber of Southern Saratoga County P.O. Box 766 • Saratoga Springs, New York 12866 (518) 581-0600 • Fax: (518) 430-3020 • www.saratogabusinessjournal.com Editorial: RJDeLuke@saratogabusinessjournal.com Advertising: HarryW@saratogabusinessjournal.com Publisher & Editor Harry Weinhagen Associate Editor R.J. DeLuke Editor Emeritus Rod Bacon Sales and Customer Service Harry Weinhagen Production Manager Graphic Precision Photographer Stock Studios Photography Contributing Writers Susan Campbell Jill Nagy Christine Graf Andrea Palmer Paul Post Saratoga Business Journal is published monthly the second week of each month, by Weinhagen Associates, LLC and mailed to business and professional people in Saratoga county Saratoga Business Journal is independently owned and is a registered tradename of Weinhagen Associates, LLC, 9 Broad St. #7, Glens Falls, NY 12801 (518) 581-0600. Saratoga Business Journal is a registered tradename in New York. Saratoga Business Journal has been founded to promote business in Saratoga county and to provide a forum that will increase the awareness of issues and activities that are of interest to the business community Subscription price is $25.00 per year. ird class postage paid at Glens Falls, New York. Rights to editorial content and layouts of advertising placed with Saratoga Business Journal which are the creative e ort of its contractors, and printing materials supplied by Saratoga Business Journal are the property of Saratoga Business Journal and may not be reproduced by photographic or similar methods, or otherwise, without the specific authorization of Saratoga Business Journal.
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PDT Market In Downtown Saratoga Springs

Combines Grocery, Fresh Meals And A Bar

Skidmore College Names New VP For Finance And Administration, Treasurer

Daniel T. Konstalid, an experienced senior fi nancial officer with an extensive background in higher education, has been appointed vice president for fi nance and administration and treasurer at Skidmore College.

Konstalid will begin his role on June 15 and serve as the college’s senior officer in all fi nancial and business matters. He joins Skidmore from Gettysburg College, where he has served as vice president for fi nance and administration and treasurer since 2006.

At Gettysburg, Konstalid has led the formation of a fi nancial strategy for the college to advance key programmatic initiatives and ensure its continuing fi nancial stability while overseeing fi nancial, accounting, budget, treasury, and endowment management; facilities planning and operations; human resources; risk management; and auxiliary services.

Among his many duties, he also served as a member of the faculty fi nance committee and the campus emergency response team.

When Adam Foti’s PDT Marketplace opens later this month, it will be “not like any supermarket you have ever seen,” he said.

The market, in the former Price Chopper store at 55 Railroad Place in downtown Saratoga Springs, will have seven aisles of groceries surrounded by prepared foods, flowers and plants, a variety of personal care and household products. It will also have a bar and places to sit and eat.

PDT stands for Pomme de Terre, translated on the PDT Marketplace website as “apple of the earth,” but more commonly, a potato.

Foti combines his skills and experience as a trained chef with what he has learned in more than 20 years in corporate retail.

He describes the atmosphere of his business as having a “French and Italian feeling.” To produce that feeling, he had the building completely gutted and renovated.

“We just kept the shell of the old store,” he said. Bonacio Construction did the work, guided by ABN Design.

When he opens, a staff of 62 will include chefs, bar tenders, and other specialists as well as sales staff. Foti said he is already fully staffed “but we always take applications.”

The chefs and cooks will work in an open kitchen, preparing food to be eaten on the premises or taken out, either ready to eat or ready to be warmed up and served. In addition, they will offer cooking demonstrations and classes.

Bar tenders will serve up a menu of four wines and craft beers. The bar and other locations in the store will offer limited menus of food to be eaten on the premises.

The cafe will have a rotating menu: comfort food on Monday, Latin menu on Tuesday, Italian specialties on Wednesday, “world cuisine” on Thursday, pub food on Friday, and brunch on Saturday and Sunday.

The store’s dairy section will offer cheeses and other dairy products from around the world as well as locally made products. The candy section combines old-fashioned penny candy with high end chocolates.

A produce section, at the center of the store, will stock “high end really super fresh” products, locally sourced when available. There will be a butcher on the premises. Fish and seafood will come largely from the Boston area. Fans of charcuterie can purchase them at the deli counter by the pound or create their own charcuterie boards to take home.

Foti is the founder and owner of PDT Catering. That company was created in 2012 and is headquartered in Ballston Lake. He will continue to offer catering services as well as private parties.

Foti said, he already has private parties booked.

For customers to serve up what they buy, Foti will sell “earth-friendly” dishes and flatware—compostable, made from bamboo or palm leaf or recycled materials, no styrofoam. The Marketplace will also sell flowers for the table and plants for more permanent display.

PDT Marketplace will open quietly in midMarch, if all goes according to plan. “Once we have our feet under us,” we will have a formal opening, probably in mid-April, Foti said. In the meantime, there is further information on the marketplace website, pdtmarket. com, or by telephone at 518-636-9404.

“Skidmore will benefit greatly from Dan’s strategic insight and management skills, and he brings exceptional expertise to this important leadership role,” said Skidmore College President Marc C. Conner. “His keen judgement, fi nancial acumen, and exceptional understanding of the value of the liberal arts in today’s world will help ensure that Skidmore College continues to prosper and that our students thrive.”

Konstalid previously served as vice president for fi nance and administration at Le Moyne College in Syracuse; controller and director of budgets at Hamilton College in Clinton, N.Y.; and senior audit manager at Pricewaterhouse Coopers in Syracuse.

He holds a Master of Business Administration degree from the Whitman School of Management at Syracuse University and a

Bachelor of Science in accounting from Le Moyne College.

“I am both honored and delighted to join Skidmore College as its next vice president for fi nance and administration. I have long admired Skidmore’s unique ability to balance its commitment to the liberal arts with its emphasis on preparation for professions, leadership, and lifelong learning,” Konstalid said. “I look forward to working with the entire Skidmore community as the college continues to implement its comprehensive Campus Master Plan and lays the foundation for a strategic planning process that will continue to enhance its educational mission.” His appointment is the result of a national search that began in October. The search for this position was assisted by Steve Leo, managing director of Storbeck Search.

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Dennis Choiniere 48 years Adam Foti poses in his PDT Marketplace in Saratoga Springs, which he describes as having a ‘French and Italian feeling.’ He had the building completely gutted and renovated. ©2023 Saratoga Photographer.com
More To Read . . . More Leads For You. SARATOGA BUSINESS JOURNAL (518) 581-0600
Daniel T. Konstalid, VP for finance and administration, treasurer at Skidmore College. Courtesy Skidmore College

Women in Business

Amy Roman’s Company Helps Businesses By Providing Specialized Staff And Training

Small businesses need as much, if not more, support than their larger counterparts. CEO’s and business owners often fi nd themselves struggling with balancing cash flow, managing teams of staff, attracting banks and investors, and so much more.

The Saratoga Springs -based company, CEFO Advisors, provides a variety of professional staff members that specialize in meeting those needs on a part-time basis. CEFO was built on the very premise that they can put a strong team in place to properly support their client needs using effective and innovative processes.

Amy Roman has owned the company for 10 years. For the fi rst five years, however, Roman was the only employee. Eventually, she realized that her clients “needed more than just me,” and for the past five years, she has been hiring CFO’s, controllers, and additional support staff to place with clients, working within their businesses.

Early on, Roman recognized the benefit she could offer her clients by providing focused CFO support and strategic services that can be achieved through outsourced, forward-thinking business and accounting solutions. One of her clients commented that “Amy did a good job closing the gap between the CEO and CFO” and thus the company name CEFO Advisors was born.

Fast forward to 2023, Roman’s company supports over 65 businesses both locally and out of state. Roman currently has 18 employees including managers, accountants, bookkeepers, controllers, CFOs, and staff training specialists, which she matches with companies needing their specialized skills and expertise. Many are part-timers, working parents, or semi-retired professionals ready for a second career. They work flexible, hybrid hours that include working at home or in the CEFO offices, while maintaining the availability to work on site at the client’s company as needed, Roman said.

Roman creates a team of specialists for each individual client and hires people who will be the best fit for that specific company, “we see ourselves as part of the fabric of the company,” she said. She begins with an assessment of the potential client’s company by determining “where the pain points are” and how to remedy them.

She also examines the company’s culture and atmosphere by utilizing a framework called Culture Talk, which she then uses to match clients with employees who will col-

laborate most successfully in their work environment.

The Culture Talk framework identifies 12 fundamental archetypes which are based on the research of Carl Jung and Carol Pearson. Roman’s top three archetypes are hero, innocent and caregiver which translate to her being goal driven, hardworking, and tenacious, an exemplar of optimism and someone possessing a strong sense of passion to help others.

Roman feels that it is also important to be able to communicate well and to assimilate into a company’s culture, the Culture Talk survey system helps to predict those successful partnerships. Roman herself, is a Culture Talk certified partner.

CEFO Advisors also acts in an advisory capacity, as needed. They can provide staff training, coaching, and consulting, and conduct employee workshops. They do not do payroll processing or tax work, despite the fact that there are several CPAs on staff, including Roman.

Before moving to Saratoga, Roman spent 20 years working in New York City, mainly in CFO positions with fi nancial and private equity companies. At one point, she realized that only a fraction of her time was devoted to CFO duties. The rest of the time, she did other tasks, including answering the telephone and seeing that used coffee cups went into the dishwasher.

“You do what you have to do because you are there,” she said. That experience was the seed from which the idea for CEFO Advisors

Continued On Page 9

DeAngelus, Goralczyk PPLC Constitutes One Of Largest Women-Owned Firms In The Area

Attorneys Karen DeAngelus and Jacqueline Goralczyk opened DeAngelus Goralczyk, PLLC in Clifton Park in 2019, and since that time, they have expanded their firm significantly.

Their law practice now employs 11 attorneys and 10 support staff members and has offices in Schenectady and Saratoga Springs.

Although there are other women-owned law office in the area, there are few that are as large as DeAngelus Goralczyk.

“I think that being a women-owned firm of our size is unusual. We credit our success to keeping a laser focus on customer service and trying to serve our clients in a way that allows them to meet their goals,” said Goralczyk.

The pair decided to open their own firm after working in real estate law at different law practices in area. Having worked on opposite sides of transactions, they realized that had very similar ways of conducting business.

DeAngelus Goralczyk had been operating for just 11 months when the COVID-19 pandemic hit. In the early days of the pandemic, the partners worried they would not be able to keep the new firm afloat.

“We were very nervous and had no idea what would happen,” said Goralczyk.

Because residential and commercial real estate is one of DeAngelus Goralczyk’s core practice areas, the pandemic-triggered real estate boom resulted in a surge in an unexpected business.

“There were many horrible things about the pandemic, but it certainly showed us an unprecedented real estate market,” she said.

In addition to real estate, the firm specializes in corporate law, privacy and cybersecurity, and trust and estates.

“We help people through the big transitions in life—buying and selling real estate, starting businesses, and planning for their futures. We hit all of those core services,” said Goralczyk.

DeAngelus Goralczyk is unique in that they are one of a small number of local firms that specialize in privacy and cybersecurity. Goralczyk received a Masters of Legal Letters (LL.M) in cybersecurity and data privacy from Albany Law School where she is now an instructor. She and her team help clients navigate state and federal regulations, reduce their overall risk, and minimize damages in the event of a cybersecurity breach or incident.

“There are an increasing number of regulations on businesses from both the state and federal perspective. The state regulations that are in place have become more cumbersome over the past two to three years,” she said. “What we do is work with the business and work with their IT provider or their managed service provider and their insurance company to try to put them in a place that not only do they meet the regulations but they are meeting security benchmarks.”

Although a growing number of small and medium-sized business owners have recognized the need to focus on cybersecurity, Goralczyk said that many have not.

“Unfortunately, it hasn’t been as prevalent as I would like it to be, and people are getting hit with cybersecurity incidents. People haven’t been as proactive as we would hope they would be. Surprisingly there is some lack of awareness. People tend to think that it only happens to large busi-

nesses with a lot of assets,” she said. “But, I think if they realize that small to medium-sized business are one of main targets, people may be more apt to take a more proactive approach.”

Goralczyk said business owners who have not been proactive are putting their businesses at risk.

“It’s not uncommon for small- to mediumsized businesses to have some sort of privacy or cybersecurity event that causes them to go out of business for one of three reasons. One, they are not insured or insurance denies their claim. Two, they did not have the proper precautions in place, and they get some sort of regulatory fine. And three, if they have some sort of financial loss outside of a loss of data, most organizations can’t come back from that.”

When working in the area of privacy and cybersecurity, the attorneys at DeAngelus Goralczyk work in conjunction with a business MSP or IT provider.

“It’s a good partnership because we aren’t selling IT services or hardware or software. We really aim to be a partner with the IT company to help the client succeed,” said Goralczyk. “There’s no magic bullet in the privacy/cybersecurity game.”

8 • SARATOGA BUSINESS JOURNAL • MARCH 2023 SPECIAL SECTION SARATOGA BUSINESS JOURNAL
Amy Roman has owned CEFO Advisors for 10 years. Courtesy CEFO Advisors Karen DeAngelus is a partner in DeAngelus Goralczyk, PLLC in Clifton Park. Courtesy DeAngelus, Goralczyk PPLC Jacqueline Goralczyk, partner in DeAngelus Goralczyk, PLLC in Clifton Park. Courtesy DeAngelus, Goralczyk PPLC

Gerald Davis wants to open a second location for his successful heating and cooling business, and document its growth with a long-range goal of having employees partner up with him as franchise owners.

JoAnna Schwartz felt the need for more structure and better processes at Name Bubbles, an e-commerce company that makes personalized waterproof name labels and decals, to ensure the firm’s future prosperity.

These are just two of many area business leaders that have turned to Wendy Waldron to teach, facilitate, coach, lead and direct them through critical phases of their respective operations.

She owns Glens Falls-based WaldronWorks, and is a Professional EOS Implementer for the Entrepreneurial Operating System (EOS), whose principles have helped clients around the world overcome business problems as well as identify and take advantage of new opportunities.

“We need Wendy’s help coaching and teaching us to be a great company, not just a good company,” said Davis, owner of Cambridge-based Superior Co-Op HVAC. The firm specializes in heating and cooling systems, using Mitsubishi hyper heat pumps, which maintain a desired temperature without the use of fossil fuels

Davis began working with Waldron in January after discovering that other successful companies use EOS, too.

Schwartz, Name Bubbles vice president, said the leadership team started the EOS process in spring 2021.

“Since working with Wendy, we have implemented structure and tools that help our leadership team identify, simplify and solve issues,” she said. “Wendy helps us reinforce the EOS format to keep our team streamlined and focused on achieving our company’s goals and future success.”

A Queensbury native and Colgate University alum, Waldron spent 20 years in the medical practice management field, often overseeing multi-million-dollar budgets. She returned home to lead Hudson Headwaters Ancillary Services.

For almost 10 years, she was administrative director of the Charles R. Wood Cancer Center at Glens Falls Hospital before striking out on her own. She trained to become an EOS Professionsal Implementer in 2019.

EOS is a “set of simple concepts and practice tools used by more than 170,000 companies around the world to clarify, simplify and achieve their vision,” says its website.

“I have taken all of the training available,” Waldron said. “But the truth is, I will be learning and studying how to be a better implementer forever. That’s one of our core values—grow or die—which means getting better all the time, being conscious of what we’re doing; adding as

much value as possible to my clients’ businesses; giving them back control to what they’re doing.”’

As companies grow, owners and managers might feel they’re losing a grip on financial matters, time management and/or human resources.

“They used to know what was going on in their business,” Waldron said. “Now they’ve grown and need a new set of tools.”

During a 90-minute initial consultation, clients tell Waldron about their business and specific problems they’re experiencing. Then Waldron explains how she can help. Clients contract for services. Leaders attend regular eight-hour training sessions where they learn principles and practices to bring back to their business.

Each case is different, but it typically takes 18 to 24 months to implement the EOS system throughout a company.

“The foundation of EOS is that all of those things that seem like problems are symptoms of a weakness somewhere in the structure of your company; things you’ve been putting band-aids on for a long time,” she said.

Waldron recently moved into a new 1,200-square-foot EOS Session Room spe-

cifically designed for training small groups. Located at Union Square, 9-11 Broad St. in Glens Falls, it is now the only EOS Session Room between Plattsburgh and the NYC area. Tom O’Neill and Union Square Properties managed the remodeling of the new space.

“I could work with clients remotely anywhere around the world. But most clients are within driving distance, from Albany to Plattsburgh,” she said.

Waldron said her “sweet spot” is working with small- to mid-size companies..

“Usually, they have some sort of change happening,” she said. “For example, the family business is transitioning from one generation to the next. Or in a transitioning economy, they might need restructuring. I’ll try to get them to focus on something new they hadn’t done before. A good company needs to have everyone all aligned, moving in the same direction, executing a plan and be accountable to each other. You need to have a healthy team. We help you get through all the stuff getting in your way.”

Her website is eosworldwide.com/wendy-waldron. The telephone number is 518-288-6864.

Specialized Staff And Training

Continued From Page 8

was grown—that a company could have a CFO just for the time it took to perform CFO duties, letting other employees answer the phone and clean up the break room.

Typically, a CEFO employee works for several clients concurrently, with everyone protected by confidentiality agreements. CEFO staff typically remain with a client for about a year or until the company possesses the systems, staff, and structure needed to succeed on their own.

A “successful exit” occurs when the company grows to the point that they need somebody

full-time in the position and have the support structure in place to maintain a profitable business, Roman said.

Roman majored in accounting and computer science at SUNY Geneseo and despite her computer science studies, she takes her own advice and outsources CEFO’s IT work to Groff Networks. CEFO Advisors does not specialize in human resources, which prompted Roman to outsource her HR needs to Integra HR.

Company offices are at 125 High Rock Ave., Suite 103, in Saratoga Springs. CEFO Advisors can be reached by telephone at 518-693-7446.

SARATOGA BUSINESS JOURNAL • MARCH 2023 • 9 When choosing a trusted business advisor, relationships matter. uhy-us.com | 518-241-5106 CONTACT US TODAY! Only EOS Session Room Between NYC Area and Plattsburgh Now Open
Wendy Waldron owns WaldronWorks and is a Professional EOS Implementor. Seen here in her new 1,200-square-foot office and EOS Session Room in Union Square, 9-11 Broad Street, Glens Falls.

Economic Development Corporations

SEDC Stakeholders ‘Have A Seat At The Table’ That Helps Bring Its Projects To Fruition

The Saratoga Economic Development Corp. (SEDC) has been a driving force in the economic development in the area for more than four decades.

Functioning as an independent, nonprofit group, its purpose is to create jobs and diversify the tax base. It is always examining what business or industry might be a good fit for the community and how to entice them to the area.

To that end it has helped attract companies like QUAD/Graphics, SYSCO Food Service, Ball Metal Corp., the Ace Hardware and Target distribution centers, Arnoff Global Logistics, Greenfield Manufacturing, AgroChem and many more to the area.

It was also a key player in the development of the $200 million Luther Forest Technology Campus.

Business retention is also important. SEDC works with state and regional officials on economic development programs available to encourage continued growth of existing industries.

Funding from the organization comes from businesses who pay memberships and thereby help the SEDC continue to work for a stronger economy that benefits all businesses. It also receives some funding from Saratoga County (though SEDC remains politically neutral).

Those that pay the SEDC fees are called “stakeholders.” And to retain and grow those entities, having tangible benefits is important. Retaining stakeholders (and growing them) is on a par with keeping Saratoga County’s existing businesses within the thriving business community.

“Stakeholders are imperative to our organization in many ways,” said Tori Riley SEDC vice president. “Our stakeholders are well-respected professional service providers that work throughout the region, across the United States and even around the world in a myriad of industries. The information, networks and connections are reciprocal and we elevate each other’s accomplishments by providing an inclusive platform that situates everyone at the table of opportunity.”

She said SEDC was founded by private sector

leaders and “our mission has not deviated for over 44 years. As businesses do, we have adapted to how we accomplish our goal; which is to provide the best possible quality of life for the residents of Saratoga County.”

For the stakeholders, SEDC staff works diligently “to afford them opportunities to stay in the know and make a bid for business. In return, we are informed and connected to best serve SEDC’s overall mission to promote retain and grow our county responsibly and sustainably.”

There are also challenges to membership retention. Riley said stakeholders recognize that their membership is an investment in the overall economic vitality of the county. One stakeholder benefit that may not seem as tangible as others is that when SEDC works with people in other areas, they shine a light on the existing businesses.

“We take great pride in showcasing Saratoga County on national and international stages and that includes knowing and sharing our stakeholders abilities and scopes of service and/or

Continued On Page 12

Capital District Chamber’s ‘Unprecedented Array Of Resources’ Benefits Its Membership

For decades, Saratoga County has been blessed with multiple large organizations supporting economic development, including chambers of commerce, EDCs, local development agencies, IDAs, and more.

One of these, the Chamber of Southern Saratoga County (CSSC), was founded in 1967 to promote Clifton Park and Halfmoon, eventually providing support for the towns, villages and suburbs just north of the Mohawk River. By its 50th anniversary, the organization had grown to be in the top 10-12 percent of chambers statewide, despite still being the “small” chamber in Saratoga County.

Like many nonprofits in the past decade, the CSSC board evaluated potential partners for collaboration, affiliation or outright merger, culminating with affiliation into the 2600 member Capital Region Chamber in 2020, just weeks before the onset of the COVID pandemic.

As one of three large chambers making up the Capital Region Chamber (along with the eightcounty Center for Economic Growth), the CSSC continues to be the official chamber of commerce of Clifton Park and Halfmoon, the administrator of the Saratoga County Community Development Program (funded in part by the Saratoga County Board of Supervisors) and the operator of the visitor center inside of the Clifton Park rest area at Northway Exit 8 that sees over 200,000 visitors annually.

It remains committed to supporting events such as the festivals in Waterford, the Great Upstate Boat Show, the Saratoga County Fair, Clifton Park July 4, movies, concerts and car show in the village of Ballston Spa, the Burnt Hills Flag Day parade, the Malta Business Community Alliance, and much more.

Additionally, because all members of the CSSC are also members of the Capital Region Chamber and vice versa, local businesses are connected to networking events across the region. Programs, initiatives, technical advice, education, compliance, advocacy and even financial support are also within reach thanks to the regional Chamber’s large staff and resources. By being grant-funded, some Capital Region Chamber functions are even available to non-members, extending the organization’s reach still further.

Simply put, there is an unprecedented array of resources available through a chamber of commerce for businesses in Saratoga County thanks

to the combination of the local affiliate with the greater regional organization.

The Capital Region Chamber runs Entrepreneur Bootcamp, an award-winning 60-hour intensive training program that guides would-be entrepreneurs and existing businesses through the step-by-step process of starting, operating and managing a business. When a business is having a problem or needs connection to professionals with expertise, the chamber offers technical assistance to overcome those roadblocks.

The Chamber offers assistance with MWBE Certification, is a nationally recognized leader in Diversity, Equity and Inclusion and its implications for businesses, and was the recent recipient of a $1.5 million grant from Key Bank, CDPHP and Business for Good for a BIPOC Business Growth Initiative that provides targeted, customized, nocost assistance and growth acceleration support to small and mid-sized BIPOC-owned businesses in the Capital Region.

The Capital Region Chamber administers several loan programs to help fuel business development, including microloans and larger low-interest loan programs. At the other end of the spectrum, the Center for Economic Growth affiliate works with the Saratoga Economic Development Corp. and others to attract investment and talent, grow

Continued On Page 15

10 • SARATOGA BUSINESS JOURNAL • MARCH 2023 SPECIAL SECTION SARATOGA BUSINESS JOURNAL
Tori Riley, vice president, Saratoga Economic Development Corp. Courtesy SEDC Peter Bardunias, Senior VP, Community Advancement, Capital Region Chamber. Courtesy Capital Region Chamber

Proposed Project Would Add 382 Luxury Apartments To The Wilton Mall Property

EDC, Our Communities And The Way Forward

Earlier this year EDC Warren County shared a stark view of the future economy as we age, try to compete with a smaller and smaller workforce, and still build a community and economy that works.

To help catalyze the needed investments, public policy work, and collective actions needed to attract new, younger residents that can support our diversified economy for the long haul, EDC is adding “convener” to our list of roles we play supporting our businesses and communities.

Last year we brought Dr. Rachel Sederberg to Warren County from leading labor market research firm EMSI Burning Glass to share deep insights on the “demographic drought” we are all experiencing. Using that groundbreaking research and aggregating it with local economic data that is current and novel, EDC is now engaged in meeting with as many audiences as we can to share the underlying foundation for our position.

The Wilton Mall ownership and Paramount Development have proposed adding new multifamily housing to the shopping center property as part of its transformation from strictly a retail facility to a more community centric mixed-use destination.

The project includes 382 new luxury, market-rate rental residences, including both apartments and townhomes. The enhancement to the community will feature premium resident amenities and sophisticated design.

Officials said the $120 million investment in Wilton will drive significant new sales and property tax revenue for Saratoga County and the Town of Wilton.

The housing community’s new residents will translate to new customers spending money at the Wilton Mall as well as surrounding retail, restaurants and entertainment facilities.

According to the developers, recent years have seen unprecedented changes in the retail industry, requiring shopping malls to evolve in response or risk going out of business. In July 2007, Wilton Mall backfi lled the former retail space with a grocery store and fitness center. It marked the fi rst steps towards the mall’s mixed use evolution.

In 2018, Wilton Mall experienced two anchor store closings—Sears and Bon Ton. Within two years the Saratoga Hospital opened in the former Sears store. Now Wilton Mall has an opportunity to further expand upon its uses and plans to repurpose the former Bon Ton site with amenity-rich apartments and townhouses.

The Macerich Corp. based in California and Paramount Development of Florida have proposed adding the new multifamily housing to

the Wilton Mall as part of its transformation from a community retail center to a more community centric mixed-use destination.

The new housing community will replace a vacant department store site, transforming the east end of the shopping mall into a welcoming, attractive, walkable neighborhood environment adjacent to unique amenities.

Developers said the renovations will proceed across two phases of development. Phase one will include apartments immediately adjacent to the mall. Phase two will include threestory townhomes in the northeast corner of the property.

The new apartment buildings are designed to maximize views of the county forest or courtyard. Both apartment buildings will have an amenity-rich club house located in its courtyard. There will be surface parking and basement parking spaces dedicated to the residents and their guests.

Officials said phase two will include 86 townhomes for a total combined 382 units at the Wilton Mall. The townhome project will replace an area presently known as a borrow pit. Much of the material excavated from Phase one, for the basement and under the building parking structure, will be used as fi ll in this borrow-pit area. Each townhome will have its own garage space as well as surface parking.

According to the plans, resident amenities will include a card key to control access and provide safety to the community, the clubhouse, the amenities and to each apartment and townhome; private storage units; elevators; a resort-style, seasonally heated pool; summer kitchen and multiple grilling stations;

Continued On Page 16

Convening as many groups as we can, EDC is sharing the data over the last 50 years that led to where we are so we can have informed discussions and public discourse on what we must do to navigate and adapt to our new normal.

One lesson I learned over and over in my previous chapters as a military, business and sustainability leader was the value of not rushing to action, especially on problems that took generations to develop.

Change is an emotional and psychological process as much as it is a business and policy one, often generating intense reactions akin to grieving. We need to allow business, community, and elected leaders all an opportunity to engage with the data, mourn the loss of what has changed and get to a productive place for the policy and investment decisions that lay in front of us. These include the need to make ourselves attractive to new younger workers and residents, creating housing capacity to receive them, transportation and childcare to support them and the many other aspects we need to work on together to step into this next chapter of our sustain-

able economy.

Fulfilling our role as leaders and partners in creating a long term, sustainable community and economy means more than recruiting new businesses and helping current ones succeed-it means sharing our data and analysis with CEOs, business groups like chambers of commerce, economic development partners, school leaders and boards, community service groups and any audiences that will have us.

The EDC will be looking to bring this critical information to as many forums and places as we can, to inform and elevate the dialogue that will be needed for years.

Investing in this long-term process is needed for us all to succeed. Please consider how you can join us in this work. We need old members to renew their memberships, new ones to join us, new residents to share their experiences and needs, community groups to share their platforms and our municipal and government partners to continue to fund this critical work so we can thrive together in an ever changing economic world.

SARATOGA BUSINESS JOURNAL • MARCH 2023 • 11
Jim Siplon, president and CEO of EDC Warren County.
• • Business
Courtesy EDC Warren County
Report
This is a rendering of the luxury apartment complex proposed as part of the ‘re-imagined’ Wilton Mall property two development firms are seeking to create. Courtesy Paramount Development

Banking / Asset Management

Asset Location: Should I Be Using It?

Asset location pertains to the types of investment assets that are best held in various types of accounts. Asset location is a tax minimization strategy that matches various types of investments with the type of account best suited for that type of investment holding.

Asset location is about strategically holding investments in accounts where you are likely to achieve the highest after-tax returns. This includes taxable investment accounts, taxdeferred accounts such as a traditional IRA or 401(k), or tax-free accounts which are usually Roth accounts.

Due to the nature of dividends, interest, or capital gains connected with certain types of investments, it might be most tax-efficient to hold them in one type of account versus another. This is the essence of asset location.

While it is not always possible to align your entire portfolio in a perfect fashion in terms of asset location for each holding, it does make sense to pay attention to this when deciding which investment holdings fit best into your various accounts.

The following types of holdings can be wellsuited for a taxable account:

• Municipal bonds or mutual funds holding muni bonds. The interest on these bonds is exempt from federal income taxes, and in some cases from state taxes if they are issued by an entity in the state in which you reside.

• Individual stocks that you plan to hold for a year or more. After this time period, any capital gains from the sale of the shares will be taxed at preferential long-term capital gains rates.

• Equity index ETFs. Due to the passive management of these types of equity funds, they tend to throw off fewer capital gain distributions than actively managed equity funds or ETFs.

• Tax-managed ETFs, mutual funds, and

separately managed accounts. These are mutual funds, ETFs, and SMAs that are managed to specifically limit capital gains and other taxable distributions.

Certain types of investments may be best suited for tax-deferred retirement accounts such as traditional IRA and 401(k) accounts or tax-free Roth accounts. Some examples include:

• Taxable bonds, both individual bonds as well as mutual funds and ETFs that invest in them. Interest paid on bonds is generally taxed at ordinary income tax rates for federal and state tax purposes. Income on Treasury bonds and other debt securities is generally fully taxable at the federal level but exempt from state income taxes.

• REITs (Real Estate Investment Trusts) including mutual funds and ETFs that invest in them. Generally, up to 80 percent of the income generated by a REIT can be taxable as ordinary

Continued On Page 13

Do Millennials Need An Estate Plan?

As the largest living generation in the U.S.— making up 22 percent of the population—and collectively having lived through several “once-in-alifetime” crises, the millennial generation has been forged into some of the most adaptable planners to date.

From setting personal and professional goals, managing and interacting with their finances and investments, to purchasing their first homes and starting families, many in this group are committed to planning further into the future than ever before.

Despite this, 41 percent of individuals ages 18-34 have never discussed estate planning with anyone. While grim, this number did see some downward motion in part due to the COVID-19 pandemic, as 32 percent of adults under the age of 35 said they only engaged in estate planning due to the pandemic.

So, with these numbers, are millennials right in thinking that they do not need estate plans? What are some of the most common concerns that millennials have when looking to plan their futures? While it’s impossible to capture all aspects of an estate plan in a single article, below is a brief snapshot of why estate plans might be the logical next step for any millennial looking to secure their future.

Broadening our scope, just 33 percent of Americans have a will or living trust, despite the fact that more than 50 percent believe estate planning to be at least somewhat significant. One in three respondents, when asked why they don’t have a will, said they don’t have enough assets to leave behind.

The notion that “I don’t have enough assets to make it worth it” is one of the most common reasons that millennials don’t want to pursue making some sort of estate plan. This notion doesn’t appear to be changing anytime soon, as the fears of ever-growing inflation still weigh heavily on the American populous—no more so than for millennials. According to a New York Times survey, nine9 out of 10 U.S. adults are concerned about inflation.

While an understandable sentiment—with ongoing economic uncertainties as we emerge from the pandemic—this mentality may have costly, long-term consequences if left unaddressed. It’s a natural reaction, as when things become more expensive, you value what you own less and look to cut costs where possible.

However, estate plans aren’t just for those with expensive houses and larger IRA accounts. Even if you don’t have much in terms of value, you still own possessions and have some money. Creating a will can let you decide where things go once you’re gone and save your loved ones the burden of trying to figure it out themselves.

As hinted at earlier, there is more to an estate plan than high-value assets. A will can not only plan out how your money is taken care of if you pass but also your belongings, such as a car or heirlooms. In addition to the more regular belongings you own, many wills today include provisions about digital assets. From more personal items like photos, videos, and email and social media accounts to balances and accounts such as PayPal, Venmo, Netflix, and Spotify, all of these digital assets can be specifically bequeathed, which is often overlooked when thinking about traditional estate plans.

Outside of your property and assets, establishing guardianship for your children is another part of estate planning that could be of great benefit for those starting a family.

In the event that something were to happen to both you and the other parent, you would want to have a say in who would raise your children. Guardianship of the child and their inheritance are frequently contested by opposing family members, driving them further apart at a time when they should be coming together.

Another reason why millennials should consider making an estate plan is that when you’re young, it’s difficult to imagine being gravely ill and unable to make your own medical decisions, leaving you unprepared should the worst happen. Accidents happen that could leave you gravely ill. In the event you become incapacitated, who will pay your rent or deal with your health insurance company? What about making your other loan payments or depositing your checks? A healthcare or durable power of

Continued On Page 13

12 • SARATOGA BUSINESS JOURNAL • MARCH 2023 SPECIAL SECTION SARATOGA BUSINESS JOURNAL
Bill Canty, CPA, CFP, founder, CFM Tax and Investment Advisors.
Courtesy CFM Tax and Investment Advisors. Courtesy Tully Rinckey PLLC • • Business Report • • Business Report
Jason Snyder is a senior associate at Tully Rinckey PLLC.

In-House Credit Union Branch

Local High School Students Learn Banking Skills With

First New York Federal Credit Union has opened a new in-school branch at Burnt HillsBallston Lake High School.

The new branch is staffed by student volunteers, who will gain valuable experience by providing basic banking services to their fellow students and staff from the school and district, officials said.

The Spartan Branch joins Schenectady High School’s Patriot Branch as area high schools that now have First New York branches. Bank officials said the in-school branches provide a safe environment for student volunteers to practice real-world skills in banking, marketing, business and more.

Students in the Personal Finance Management and Investing 101 classes, which are focused on teaching fi nancial literacy, money management and responsibility as well as how to be fi nancial savvy with investments, will run the bank for their peers and BH-BL staff. Banking practices can begin for many students at the elementary schools where student banking options are available. And, in sixth grade, students take a fi nancial literacy course that touches upon money saving, how to manage a checking account, interest rates, taxes and much more.

“Running a bank branch is a great way to take what we are teaching our students about personal money management and put it into play,” said Business Department chair Stephanie Andrejcak.

School officials said students who take finance courses will take a deeper dive into the world of fi nance but with a keen focus on personal money management. The courses help students understand how interest rates and late or minimum payments on credit cards impact credit scores and cost much more in the long run.

high school library.

Anyone interested in joining First New York KIDS Banking Program at the elementary, middle, or high school level, can contact membership development officer Michelle LaVoy at michelle.lavoy@fi rstneyork.org or (518) 3931326, ext. 1802.

Founded in 1937, First New York Federal Credit Union offers a full suite of fi nancial services, including checking and savings accounts, auto, home and personal loans, credit cards, online and mobile banking, business services, and commercial lending and investment services.

Asset Location

Continued From Page 12

income to investors with the other 20 percent qualifying as pass-through income in most cases under the Tax Cut and Jobs Act. Th is exemption is scheduled to expire in 2025.

• Actively managed stock ETFs or mutual funds. Many of these funds generate a high level of short-term capital gains income due to the frequent turnover of holdings in their portfolio. Short-term capital gains do not receive preferential tax treatment and are taxed at ordinary income tax rates.

Asset location can be an important consideration in investing as we all want to invest in the most tax-efficient way possible.

In our opinion, however, asset allocation should govern your investing strategy. Th is includes the types of investment vehicles, the asset classes included in your portfolio, and the percentage amounts allocated to each of the various asset classes.

Sometimes your situation doesn’t allow you to perfectly align the asset location of every holding within your portfolio. Th is might be a function of the relative size of the balances in your various types of accounts or other factors.

Where appropriate and feasible, we feel that using asset location principles to determine which holdings are located in various types of accounts makes sense for most investors. However, we would caution investors to use good common sense in implementing an asset location strategy.

For example, incurring unnecessary taxable

Estate Plan

income to realign your portfolio generally defeats the whole purpose of asset location which is tax savings.

There are a number of ways to realign your portfolio to be more in line with an asset location strategy that best fits your situation. These include:

• Make adjustments in tax-deferred and taxfree retirement accounts whenever possible.

• Use new money to add to positions to help implement an asset location strategy when possible.

When rebalancing your portfolio on a periodic basis, keep your goal of improving your portfolio’s asset location strategy in mind. If you can utilize any tax losses you harvest from taxable accounts in the process, so much the better.

When considering an asset location strategy for your portfolio, it’s important to keep both current and future tax implications in mind. For example, will you be in a higher or lower tax bracket in retirement?

Asset location should be implemented as part of your overall fi nancial plan and your investing strategy. If done correctly, asset location can be a key tool in your tax planning efforts.

If you are looking for a fee-only fiduciary fi nancial advisor who will always put your interests fi rst, please give us a call to discuss asset location or any other fi nancial issues. We are here to help.

Students also dive into real-world fi nances, such as household budgets, taxes, learning about paychecks, saving for the future via IRAs, 401ks, and much more.

The Spartan Bank is open every Friday from 9-9:30 a.m. and is located at the back of the

SEDC Stakeholders

Continued From Page 10

“Our accomplishments, in partnership with county and IDA leadership, as well as business and educational leaders, would not be possible without stakeholders that are respected experts in their fields,” she said. “It takes a well-rounded community with altruism to understand and employ best business practices.

“SEDC stakeholders are above and beyond in altruism in community, expertise in development/professional services as well as generous in creating returns for all industries investment without sacrificing any quality of life.”

Riley said stakeholders are retained by keeping them engaged and connected, providing the

With $450 million in assets and over 32,000 members, First New York has branches in Albany, Cobleskill, Glenville, Halfmoon, Niskayuna, North Greenbush, Rotterdam, and Saratoga. Members also have access to stand-alone kiosks in Colonie, Rotterdam and Saratoga, and more than 30,000 fee-free network

For more information, call 518-393-1326, 1800, or visit FirstNewYork.org.

necessary knowledge and networks to assist their growth opportunities.

“Our stakeholders know their investment isn’t used for any other purpose but to promote complementary industries to accent our existing, vibrant and diverse base,” she said.

Continued From Page 12 products,” said Riley. “Because that is a large part of what makes our region absolutely incredible. I think the greatest challenge in retaining stakeholders comes when we aren’t elevating and diversifying the economy for the benefit of all.”

Retained businesses continually invest in the community, “which leads to growing well-paying jobs for current and future residents. It is a responsibility we do not take lightly and our stakeholders recognize that while we are accomplishing these achievements, we are utilizing their expertise to do so,” Riley said.

“Our stakeholders have a seat at the table that make these projects come to fruition. We couldn’t do it without them and we are not shy to share that. We are proud to say our stakeholders know us before they need us. And they know when they need us, we show up with the expertise they rely upon, connections they are in need of and programs/resources that are applicable to the project at hand. And we see it through with them.”

attorney can ensure that you have designated people who care about you making decisions on your behalf should the worst befall you.

While a gross oversimplification of everything an estate plan can take care of, it is important for the younger generation to realize everything that an estate plan can offer them when it comes to fully tran-

sitioning into adulthood outside of the traditional house and stock accounts. While it’s easy to push off the thought of estate planning till you get older, life comes at you fast. As an estate planning lawyer, one of the most common phrases I hear is, “I regret not taking care of this when I was young and healthy.” Whether it is actually creating this roadmap towards protecting your ideal future or just having a conversation about where to start, taking these steps earlier on in your life will certainly pay dividends in the future.

SARATOGA BUSINESS JOURNAL • MARCH 2023 • 13 DIGITAL MARKETING AGENCY CONTACT ME FOR A FREE MARKETING CONSULTATION Now is the perfect time to get ahead of the competition and put a strategic plan in place. Contact Valleri James 518-935-3209 Valleri@MannixMarketing.com READY TO GROW YOUR BUSINESS? Mannnix Ad for SS SBJ & GFBJ.indd 1 12/15/20 2:32 PM
First New York Federal Credit Union opened an in-school branch at BH-BL high school. Courtesy Burnt Hills-Ballston lake High School

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The Saratoga Area Abounds With Great Food & Drink Options

Saratoga Springs and Saratoga County are home to many amazing restaurants featuring a variety of cuisines. The diversity of menus and settings ensures that even the pickiest diner will find something to please their palate. In addition, downtown Saratoga Springs' nightlife scene is always hopping, whether you are looking for a friendly pub and a pint, some wine and some jazz, or a place to dance the night away. In addition, there are an abundance of craft breweries, wineries, and distilleries to help quench your thirst. Below are some of our favorite restaurants, nightlife hotspots, and craft beverage producers. Always contact your destination restaurant for current hours of operation.

The Brook Tavern

Saratoga Springs, NY

Just a short walk from the Saratoga Race Course and walking distance from Congress Park, The Brook Tavern is a favorite neighborhood gathering spot nestled at the intersection of Union and Nelson Ave., right in the heart of historic Saratoga Springs.

Carson's Woodside Tavern

Malta, NY

With spectacular views of Saratoga Lake and the Vermont mountains, our amazing outside patio, deck, fire pits, and bar are the place to be all summer long. Great food, drinks, entertainment, and fun await! Only 7 miles from Saratoga Springs.

Sushi Thai Garden

Saratoga Springs, NY

Experience fine Japanese and Thai cuisine, prepared and presented in an artistic manner, using all fresh ingredients. Open for both lunch and dinner; don't forget to ask about our take-out and gift certificates too!

Harvey's Restaurant and Bar

Saratoga Springs, NY

At Harvey's Restaurant and Bar, we are proud to be at the forefront of hospitality in the downtown Saratoga region!

Winslow's Restaurant Gansevoort, NY

Open since 1948, Winslow's Restaurant is steeped in heritage and tradition. Located just a few minutes north of Saratoga Springs, Winslow's serves up classic American cuisine like steak, grilled pork chops, and oven roasted turkey.

The Hideaway

Saratoga Springs, NY

The Hideaway at Saratoga Lake Golf Club is open to the public seven days a week and features a menu with something for everyone. Indoor and outdoor seating is available, and they offer a banquet space for weddings and events.

Lake Ridge Restaurant

Round Lake, NY

Only minutes away from Saratoga Lake, we're the food critics' choice (4.5 out of 5 stars), offering first-rate Continental cuisine in an elegant setting. Exceptional food, great prices and friendly service will keep you coming again and again.

The Wishing Well Restaurant

Gansevoort, NY

Award winning restaurant Serving the Saratoga region's finest selection of premium steaks, live lobsters, fresh seafood & wines. Stone fireplaces, a piano bar & attentive service are hallmarks of The Wishing Well.

Moby

Rick’s In Mechanicville has Extensive Menu, Take-Out Counter And Bar Space

Moby Rick’s Seafood recently opened its doors at 251 North Main St. in Mechanicville, the second restaurant in Saratoga County owned and operated by Rick Lofstad.

According to Lofstad, by combining fresh product with good marketing, he and his chefs aim to get local patrons hooked on a variety of seafood dishes.

“Right now you can’t put in a net 20 to 80 miles off the east coast without pulling up all kinds of delicious seafood,” he said. Lofstad wants to introduce people’s palates to a wider taste of the sea.

“Craft beer brewers have a tasting room,” he said. “Why can’t a fisherman?”

His idea is to serve smaller flights of fish, not unlike flights of craft beers, for tasting. These are the “ugly fish with spines and horns to protect them from predators,” he said, whose flavors and textures have yet to be discovered by restaurant-goers.

Lofstad said he is still planning out how the tasting room concept will work. One way is to host a tasting night and have local chefs invent recipes that highlight the seafood. He said he would deliver portions of different species “and see what they and my chefs come up with.”

“Maybe I’ll put the fish right on the bar so diners can see what they look like, or a picture of the sea robins, skate, porgies, sand shark and whatever other seafoods customers are sampling,” he said.

The bar at Moby Rick’s seats 18. It was built by Lofstad out of benches from an old brewery. But it had some deep cracks in it that he filled with blue sand and resin, reminiscent of the fishing waters that have long been part of his personal and professional life.

“I am a third generation fisherman,” he said. “My grandfather came over from Norway on a boat and ended up in New York.”

All three of his grandfather’s sons came into the fishing business with him. Another generation later, working with Lofstad and his cousins, the family was producing six million pounds of fish per year.

By age 25 Lofstad was managing a dock in the Hamptons. He said he was the first fisherman to export fluke to Japan. But he lost his business as a result of 9/11.

“Eventually I was invited to Troy, where I sold $3,500 worth of fish the first day at the farmer’s market,” he said. “Later I was lured to Saratoga by a local cheese maker, and I sold $4,000 my first day.”

Farmers markets remained lucrative for Lofstad, but when he learned he was about

The Adelphi Wine & Beer Garden

Saratoga Springs, NY

Located at The Adelphi Hotel in downtown Saratoga Springs, the Adelphi Wine & Beer Garden offers sommelier-selected wines, delicious craft beer, and the region’s most inventive and flavorful sushi.

Wheatfields Restaurant

Saratoga Springs, NY

You can't go wrong with freshly made pasta prepared right on-site using local ingredients! But Wheatfields is much more than pasta: Patrons rave about the hand-stretched pizza, the salmon entrée, and the fried calamari appetizer, to name a few.

Salt & Char

Saratoga Springs, NY

Salt & Char is a Modern American Steakhouse with an inviting and stylish atmosphere that cre-

to become father to his daughter, he opened the first Moby Rick’s restaurant and seafood market, now located at 26 Congress St. in Saratoga Springs.

Later he took another location in Clifton Park. When COVID hit, Lofstad turned the space into a packing area for products heading to market.

“We were selling $1.25 million pre-COVID at farmer’s markets and $4 million in 2020 and 2021,” he said.

Sales dropped off as restaurants reopened, but Lofstad said his “farmer’s market customers still want fresh fish in the winter,” so his newest restaurant was conceived.

“COVID shuttered Hildreth’s Restaurant after 42 years, and I was able to lease the building with a turnkey kitchen,” said Lofstad.

The space has been re-designed with an extensive fresh seafood market, a counter for chowder and other take-out items, and dine-in seating for 60, in addition to the bar space.

Lofstad spent two months remodeling and changing the former 1970s décor. He added knotty pine paneling throughout that, along with a fireplace, gives the space an Adirondack ambiance.

Lofstad owns and operates Pura Vida Fisheries, which supplies his restaurants, retail stores and 25 farmer’s markets in the Capital Region and Hudson Valley. The challenge is to keep prices reasonable while making a profit, Lofstad said

The business website is www.mobyricks. com/clifton-park.

ates the perfect dining experience. Step inside or join us on the veranda for second to none views of Broadway while dining for lunch or dinner.

Beer Wine Pizza

Saratoga Springs, NY

Hang out and enjoy some of the region's best pub food at Beer Wine Pizza in Saratoga Springs, NY. This local bar and grille offers burgers, pizza, boutique wines and craft beer, and more!

Morrissey's Lounge & Bistro

Saratoga Springs, NY

Morrissey's Lounge & Bistro in Saratoga Springs is located within The Adelphi Hotel and is the perfect place for good food, drinks, and conversation. They offer an all day menu and three unique dining areas.

Courtesy of Saratoga.com

14 • SARATOGA BUSINESS JOURNAL • MARCH 2023
( 5 1 8 ) 5 8 4 - 5 4 0 0 • 7 0 - 7 2 C o n g r e s s S t r e e t P l a z a , S a r a t o g a S p r i n g s p u r d y s w i n e . c o m • 1 B l o c k O f f B r o a d w a y • N e x t T o E m b a s s y S u i t e s
Rick Lofstrad has opened a second Moby Rick’s Seafood restaurant in Mechanicville. ©2023 Saratoga Photographer.com

Personnel Briefs

Continued From Page 2

state as a manager of data technology services. As part of Wilton’s 200th anniversary in 2018, James authored the script for the play, “First Town Meeting: 1818.” After four years as Wilton’s town historian, she decided to downsize and move south of Ballston Spa.

Larry Dana and Matthew Miczek were elected as co-chairs of the Wilton Wildlife Preserve & Park board of directors at its recent annual meeting.

They replace Jennifer Benaman, who stepped down as chair after serving for four years.

Dana has been an active volunteer for over a decade. He serves as a trail steward for the Opdahl Farm parcel and volunteers for the Historic Cornell Hill Fire Tower at Camp Saratoga.

Miczek served as vice chair and has been a trail steward for the Fox parcel for more than 15 years. He also has a “legacy” standing with Wilton Preserve, meaning he has over 1,500 lifetime volunteer hours.

To replace Miczek as vice chair, board member Kim Marsella was elected. Board member Nina Russo also joined Marne Onderdonk as the cosecretary.

Kurt Smemo will continue in his position as the Treasurer.

Four new board members elected were Bradley Birge, Jaclyn S. Hakes, Howard Lester, and Steve Wilcox

Birge recently retired after 32 years of public service, including 25 years with the City of Saratoga Springs Office of Planning and Economic Development. His duties ranged from grant writing and administration to long-range planning, short-range project development, oversight of local land use boards, and lots of relationshipbuilding. Birge is a steward for the Kalabus-Perry Trail.

Hakes is the director of planning services at MJ Engineering and Land Surveying, PC. She has assisted communities for over 22 years in balancing land use, transportation, environmental and

quality of life issues through consensus-based planning.

Lester has an M.A. Ed. in counseling and guidance from Idaho State University, and a B.A. in psychology from the University of Bridgeport, with advanced studies in psychopathology at the University of Arizona. Lester had a 30-year career at the University of Arizona as a business manager in the astronomy department at the MMT Observatory before settling in Gansevoort.

Wilcox is a civil engineer with a focus in environmental and water resources. He spent nearly 39 years with the state Department of Transportation as a bureau director in maintenance. He now works for Mott MacDonald, a global civil engineering firm on establishing investment strategies that are environmentally sustainable, and establishing treatment strategies that minimize carbon production.

* * *

Sean Kelleher, vice president of the Saratoga County History Center, was appointed to the Erie Canalway National Heritage Corridor Commission. This federal commission works with communities along the Erie Canal to celebrate and promote the Canal’s heritage.

Kelleher directs communications and is a project director for special events at the History Center based in Ballston Spa. He is also the historian for the town of Saratoga and the vice chair of the Saratoga County 250th American Revolution Commission.

The Erie Canalway National Heritage Corridor Commission is a 27-member, community–based federal commission appointed by the U.S. Secretary of the Interior that works with 234 communities along the Erie Canal route. They plan and direct activities that preserve and celebrate the historical, natural, scenic, and recreational resources of the Erie Canalway National Heritage Corridor.

Kelleher’s appointment is for a three-year term.

Capital District Chamber

Continued From Page 10

manufacturing and workforce capabilities, leverage industry clusters, and develop the entrepreneurial ecosystem.

Looking ahead, the Chamber sees significant workforce, supply chain, energy, infrastructure and compliance issues. Its 2023 Advocacy Agenda for Prosperity supports members of all sizes and types, including area farms, the marine industry, and entrepreneurs and huge global companies. The Capital Region Chamber’s reputation as a trusted public policy advocate goes a long way in influencing outcomes and shaping polices that make the region more competitive and lead to job creation.

The regional Chamber is definitely involved in the big picture and helps Saratoga County have a seat at the table for large, regional discussions. At the same time, the Chamber of Southern Saratoga County facilitates everything from local cleanup and maintenance projects to literature distribution, attending town meetings, hosting community forums and leading ribbon cutting celebrations.

Big and small, the affiliation between southern Saratoga County’s local chamber and the Capital Region Chamber has proven to be a rewarding and beneficial one for the business communities north of the Twin Bridges.

New York

Price: $8,500,000

• Incredible 35 Acre Property (245 Acres Adjacent for Additional Cost)

• Regions most complete convention & meeting resort for all groups

• $5,000,000 in renovations and capital improvements in last 3 years

• Four Season Resort for Conference and Social Events up to 700

• Enormous Potential to introduce and rebrand this amazing Resort

• Stunning Views and Incomparable Event Space in the Adirondacks

SARATOGA BUSINESS JOURNAL • MARCH 2023 • 15 • • Available Commercial & Residential Properties We’d like to promote your commercial or residential property. Call us, 581-0600. Located two blocks from Broadway in downtown Saratoga Springs. A wraparound Saratoga porch perfect for entertaining guests during warm August evenings. Built in 1860 with one addition. A spacious kitchen with cherry countertops and fireplace is the heart of the home and leads to a family room with bonus full bath, wet bar and back stairs with three more bedrooms and full bath. The home features beautiful hardwood floors, and a 3-car garage. Call Kate to schedule a tour today! 49 Franklin Street, Saratoga Springs, NY 12866 $1,499,000 Kate R. Naughton, Assoc. Real Estate Broker 518.441.8527 | katernaughton@gmail.com FORSALE
George,
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* * *

Wilton Mall Property

Continued From Page 11

EV car charging stations, and a children’s playground

The 24-hour clubhouse will feature a twostory fitness center featuring a cardio mezzanine, commercial gym equipment and a yoga/ spinning studio with “Fitness-on-Demand”.

A resident lounge will have a business center, cybercafé, golf simulator, pet grooming station, wine tasting club, multimedia room, game room with big screen TV, 24-hour package lockers, and an indoor bicycle storage and repair facility.

Unit amenities will include nine-foot ceilings, a stainless-steel, granite or quartz, window treatments, washers and dryers, and ceiling fans in the living room and bedrooms. There will also be high-speed Internet.

The apartment buildings will have sunken garages with elevator access to residential floors and each townhome will have its own garage.

The community will have pedestrian connections to the adjacent County Forest and

| BOAT

its network of walking trails as well as to the Wilton Mall complex of services/businesses.

If the development is approved, construction will begin by Spring 2024 and the fi rst housing units will be ready for occupancy within 34 months, developers said.

The project will bring eight permanent jobs and contracts with local services such as: a management company, landscaping, pool, valet and trash. Many temp jobs will be created during construction.

16 • SARATOGA BUSINESS JOURNAL • MARCH 2023
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