SARATOGA BUSINESS JOURNAL
HH The Business Newspaper of Saratoga County HH
As Construction At Saratoga YMCA Goes On, Public Phase Of Capital Campaign Begins
SPAC In The Black In 2022; CEO Touts Venue As Place Where ‘All Cultures Are Celebrated’
The Saratoga Regional YMCA launched the public phase of its capital campaign on May 5 at its Saratoga Springs branch on West Avenue.
YMCA staff, members, major donors, volunteers and community partners gathered for a kick-off celebration, followed by a tour of the construction site.
Officials said the pressing need for greater socialization, increased healthy living programming, and safe and affordable childcare options was apparent when the YMCA decided to embark on the expansion project.
Attendees at the May event were able to tour
the construction site to envision “a renewed, vibrant and connected intergenerational wellness hub,” officials said.
The expanded facilities will include a new wellness center that will have several spaces for weight training, group exercise classes, athletic training and chronic disease prevention programming.
A new gymnasium will help accommodate the growing demand for pickleball leagues, summer day camp, youth sports and before and after school programming. It will also
Continued On Page 18
David S. DeMarco Is Named The New CEO And President At Arrow Financial Corp.
Arrow Financial Corp.—the parent company of Saratoga National Bank and Glens Falls National Bank—announced that David S. DeMarco is the president and chief executive officer of the company.
DeMarco was chief banking officer and senior executive vice president at the company.
He replaces Thomas J. Murphy, who in May terminated his employment as president and CEO with Arrow.
The changes were made May 12.
DeMarco, who has been with the company for 35 years, continues to serve as president and chief executive officer of Arrow subsidiary Saratoga National Bank and Trust Co.
DeMarco joined the company in 1987 as a commercial lender and since that time has served in positions of increasing responsibility with the organization. He was named president and CEO of Saratoga National Bank in 2012.
“We are very pleased that Dave has agreed to serve as president and CEO of Arrow and Glens Falls National Bank. Dave has dedicated his career to the company, understands community banking and he is well-known throughout our organization and the communities we serve,” said William L. Owens, chairman of the Arrow board.
“It is an honor to be asked to serve as president and CEO of Arrow,” DeMarco said. “I look forward to working closely with our team to continue to serve our customers and advance our strategic and financial goals.”
Arrow Director Thomas L. Hoy, who recently retired as board chair and served as president and CEO of Arrow from 1995 to 2012, said DeMarco “is
extremely knowledgeable about the operation of our banks and the needs of our customers. He has been instrumental in the growth of our organization over his many years of service.”
Arrow Financial Corp. is a multi-bank holding company headquartered in Glens Falls, serving the financial needs of northeastern New York. In addition to being the parent of Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co., other subsidiaries include North Country Investment Advisers Inc.
“Transformation has changed and informed the very way we see the world and our place in it,” said Elizabeth Sobol, president and CEO of Saratoga Performing Arts Center at the board of directors annual meeting on May 18.
At the meeting, SPAC leadership and staff reflected upon a successful 2022 season and considered the trajectory of the institution’s collective efforts to serve art, artists, and the community of Saratoga Springs and the Capital Region.
“No longer just an amphitheater, we see SPAC as the perfect confluence of human-made and natural beauty,” Sobol said. “We see SPAC as a refuge, a place
of healing, a place where all people are welcome, and all cultures are celebrated. In our hearts, we understand our mission—to connect people to people— and to our planet. And we undertake this important work with recognition of the profound importance of beauty and art in the cultivation of compassion and the creation of a just world.”
SPAC announced that it ended the year with $470,000 of operating reserves. This was attributed to fundraising efforts supported by members, the board of directors, the general public and the utilization of $1.5 million in critical federal grants for budget relief
Continued On Page 19
Executive Director Of Local Preservation Foundation Elected Chair Of National Group
Samantha Bosshart, executive director of the Saratoga Springs Preservation Foundation, was elected chair of the National Preservation Partners Network (NPPN).
NPPN is a membership-based, independent association of non-profit organizations that advances the growth and effectiveness of the organized preservation movement through communication, education, training, and a common advocacy agenda. NPPN currently has 119 members, representing local, statewide, regional, and national organizations.
Bosshart joined the NPPN’s board of directors in 2018. She was appointed as the chair of the governance committee in 2020 and elected vice chair in 2022.
“It is an honor to serve as chair of the National Preservation Partners Network. I have benefitted so much from being a part of the network. It provides valuable educational and networking opportunities to allow historic preservation professionals to learn from one another and advocate for initiatives that will benefit the movement nationally.”
Bosshart has served for 15 years as executive director of the Saratoga Springs Preservation Foundation. Prior to joining the foundation, she was the director of preservation services at Historic Albany Foundation. She moved from Texas to New York to attend Cornell University, where she completed her Master of Arts
Historic Preservation Planning coursework. Prior to attending Cornell University, she worked at Galveston Historical Foundation where for five years she was manager of the Preservation Resource Center, which offered historic property research, neighborhood information, and technical rehabilitation guidance.
She also oversaw the nationally recognized Paint
Partnership and Paint Pals programs, which provided low-income homeowners of historic houses with free paint. Before working for the Galveston Historic Foundation, she was an independent contractor. She completed an extensive rehabilitation of four houses located in the East End National Historic Landmark District in Galveston. She moved to Galveston after graduating from Indiana University with a Bachelor of Arts in history and criminal justice.
Bosshart also serves on the board of directors of
VOL. 28 NO. 04
2023 SBJ P.O. Box 766 Saratoga Springs, NY 12866 PRSRT STD U.S. POSTAGE PAID GLENS FALLS, NY 12801 PERMIT #600
JUNE
www.saratogabusinessjournal.com
the Discover Saratoga.
David S. DeMarco is the new CEO and president at Arrow Financial Corp. Courtesy Arrow Financial Corp.
Samantha Bosshart was elected chair of the National Preservation Partners Network. Courtesy Saratoga Springs Preservation Foundation
Work continues at the Saratoga Regional YMCA branch on West Avenue where an addition will include a new location for the Saratoga Senior Center, as well as a new Youth Adventure Center. ©2023 Saratoga Photographer.com
A ballet performance last year at SPAC. Officials said 2022 ended with $470,000 of operating reserves, attributed to the support of members, the board of directors and the general public. Courtesy SPAC
Hui Peng Ko Is Named Vice President And General Manager At GlobalFoundries Plant
GlobalFoundries announced the appointment of Hui Peng Koh as vice president and general manager of the company’s semiconductor manufacturing facility in Malta.
Building on her experience in leading the 1,200 strong engineering team in Malta for the last three years, Koh is stepping up to lead GlobalFoundries’ most advanced U.S. fab that supports a wide range of customers.
She succeeds long time GlobalFoundries executive and industry veteran Peter Benyon who will retire in early July after more than 40 years in the semiconductor industry including being part of the GlobalFoundries team since the acquisition of Chartered Semiconductor in 2011.
Koh, an accomplished leader with more than 23 years of semiconductor manufacturing experience, currently serves as vice president of manufacturing engineering at GlobalFoundries.
Prior to her current role, she was the director of lithography and held various leadership positions at the company’s Malta facility. Previously, she served in several technology development roles at GlobalFoundries’ Singapore campus. Koh earned her master’s degree in materials engineering from Nanyang Technological University in Singapore.
Koh is also the executive sponsor of the GlobalFoundries Malta GlobalWomen chapter, an employee resource group comprised of a worldwide network of women and allies whose mission is to create a sustainable framework for the professional development of women at GlobalFoundries. Throughout her career, she has placed a strong emphasis on operational excellence, talent development, inclusion, and mentoring for GlobalFoundries team members as they grow their careers.
“GlobalFoundries and our NY Fab are leading the industry in delivering the feature-rich semiconductors needed to meet the world’s demand for these essential chips. I am so pleased to continue with our tradition of growing GlobalFoundries fab leaders from within our organization, whose leadership, expertise and com-
mitment are the bedrock of our business,” said Dr. Thomas Caulfield, GlobalFoundries president and CEO. “In her new role as the leader of our more than 2,000 strong manufacturing team in New York, Hui Peng will help ensure that we have the right capabilities and team in place to continue to drive operational excellence and exceed our customers’ expectations while executing on our growth strategy.”
Benyon has been leading the Malta facility since July 2019. Prior to that he ran GlobalFoundries’ world-scale 300mm fab in Singapore.
“On behalf of our entire global team, I want to thank and recognize Peter’s countless contributions to GlobalFoundries, which were pivotal in accelerating our growth and value creation, and have set the foundation for our future,” Caulfield said.
GlobalFoundries is a leading semiconductor manufacturers. For more information, visit www.gf.com.
Personnel Briefs
Ballston Spa Bancorp, Inc., parent company of Ballston Spa National Bank, announced that Richard P. Sleasman has been appointed the new chair of the company’s board of directors.
Sleasman joined the board in 2016 and was elected to the position of vice chair in October of 2022. He succeeds Robert E. Van Vranken Esq., who served as chair for nearly 19 years prior.
Sleasman is the managing director of CBREAlbany as well as the president of the newly formed CBRE-Upstate NY with offices in Albany, Syracuse, Rochester and Buffalo. He brings more than 35 years of leadership experience in commercial real estate brokerage and property management services to his new role as board chair.
Active in the community, Sleasman also serves as chair of the Society of Industrial & Office Realtors’ national foundation and as past chair of the board for both the Capital Region Chamber of Commerce and the Eastern New York Red Cross. He graduated from Siena College with a bachelor of science in marketing and management and remains active with the college in several capacities.
* * *
Brookhaven Golf Course head PGA professional Anthony errien has received an award from the Northeastern New York PGA.
The Roland Stafford Award is presented to a PGA professional who exemplifies the qualities in honor of the true traditions of the game of golf such as integrity, honesty, and sportsmanship, according to Northeastern New York PGA.
Brookhaven Golf Course is a municipal golf course owned and operated by the town of Greenfield. It will be presented at a NENY PGA special awards banquet in November.
Therrien joined Brookhaven in 2019. The course has grown significantly in recent years and is well known for its historic connection to LPGA golfing champion and television broadcaster Dottie Pepper, who started learning the game of golf at Brookhaven as a youth.
Therrien runs PGA Junior League, “Learn to Golf” sessions, private lessons, and a robust weekly league and summer tournament schedule.
* * *
Franklin Community Center has added two new members to its board of directors.
Joining the board for her first three-year term is local Saratoga resident Johanna Friedman Born and raised in Cherry Hill, N.J., Johanna moved to Saratoga Springs in 1994. She has spent that last 20 years with the Saratoga Springs City School District and is currently an assistant principal at the high school.
Returning to the board after a three-year hiatus is Karen D’Andrea.
She is newly elected to complete a three-year term. She is an attorney in private practice in Saratoga Springs and has served on many notfor-profit boards over the last 20 years and is a graduate of Leadership Saratoga.
She served on the center’s board from 2006-2020 where she then left the board after term limits were adopted as part of her work with board’s governance committee.
The Executive Committee for the 2023-2024 year will consist of Zachary Manz as president, Heather Straughter as vice president, Jeff Goliber as treasurer and Jason Lynch as secretary.
* * *
Empire State University announced that Kathleen Roberts accepted the assistant vice president for human resources position based in Saratoga Springs.
Roberts will be responsible for the strategic and collaborative leadership of the Department of Human Resources, including recruitment, employment, compensation, benefits, employee labor relations, policy implementation, staff training and development. She will develop and direct the strategic planning and long-range goals for the Office of Human Resources and will contribute to the institution’s organizational strategic planning goals.
Roberts will lead with integrity and embrace a culture that promotes the highest level of professional and ethical standards, in addition to partnering with the chief diversity officer to foster a climate of diversity, inclusiveness, and respect.
She currently works as a lead consultant for change and justice where she delivers intercultural education and advises equity consultant groups on frameworks and assessments for cultural change.
Roberts holds a J.D. from the University of Maine School of Law and a Ph.D. in leadership and change from Antioch University.
* * *
StoredTech in Queensbury has made three changes to its management team.
Tom Caramella was promoted to vice president of finance and Katie Roeder was promoted to vice president of operations.
2 • SARATOGA BUSINESS JOURNAL • JUNE 2023 • •
We Make IT Simple! MANAGED IT SERVICES (877) 331-5220 www.storedtech.com Tailored to your Business Needs No Contracts Secure your Environment & Meet Compliance Fast Resolutions 24/7/365 IT Support
Continued On Page 16
Hui Peng Koh, vice president and general manager, GlobalFoundries in Malta. Courtesy GlobalFoundries
Tech II Business Services In Saratoga Is Acquired By ADNET Technologies Firm
ADNET Technologies (ADNET), a managed IT services, cloud, and cybersecurity provider with offices in Rocky Hill, Conn., and Albany, has acquired Tech II Business Services (Tech II), a Saratoga Springs-based managed IT firm.
This strategic partnership brings together two teams of IT professionals to create a regional technology services company that combines national capabilities with a human-centered approach.
Officials said that by joining forces, ADNET and Tech II will accelerate the combined company’s growth in New York’s Capital Region and across the Northeast, while also creating significant opportunities for their employees and clients.
“Our decision to bring Tech II into ADNET Technologies was inspired by the strength of Tech II’s talented team of technologists, technical staff and administrative support members,” said Christopher Luise, CEO of ADNET Technologies. “Attracting, developing and retaining technology talent is the lifeblood of managed IT services providers—enabling innovation, accelerating our growth and ensuring outstanding customer service. With this acquisition, we gain access to new talent and resources that will enable us to serve our current and future clients even better in the Capital Region and beyond.”
ADNET will retain all Tech II employees and will continue to actively recruit additional technology professionals, as it ramps up local growth efforts.
Tech II CEO Daniel Bardin will join ADNET as general manager, allowing him to bring expanded solutions to clients and grow the firm’s regional operations alongside current ADNET General managers Ronald Gibson and Erin Peterson, vice president Lynette Maffei and Luise.
“We’re excited to unite the ADNET and Tech II teams. Together, we’ll bring national capabilities and local market understanding to help our clients implement technology solutions that drive business outcomes,” Bardin said. “Tech II’s clients will continue to be served by the same outstanding IT professionals while securing access to ADNET’s extensive network of resources and partners.
“Joining ADNET also provides our team with access to new pathways to opportunities for professional development and growth. The potential is immense for us as we bridge together our two firms.”
Indulgence Bakery In Saratoga Springs Specializes In Cakes, Cupcakes And Cookies
In pursuing this partnership, Luise said ADNET valued the workplace culture at Tech II and recognized an opportunity to integrate the two teams, bringing them together as one unit with a shared mission.
“Culture alignment was a key factor in our decision to acquire Tech II,” Luise said. “In Tech II, we found a partner that cares deeply about its employees, clients, and communities — fitting together seamlessly with our people-first culture and approach to business.”
In its human-centered approach to serving clients, ADNET creates technology environments that help people thrive and enable their organizations to achieve their goals. This people-first mentality comes to life across three core service areas—managed IT services, cybersecurity, and cloud— which are now complemented by Tech II’s services and supplemented by its innovative solutions.
“This acquisition deepens ADNET’s investment into the Capital Region, a market we see as full of opportunity and talent,” Luise said. “We’re confident that doublingdown on our investment here will continue to drive our growth locally and across the northeast.”
The acquisition is also an outcome of ADNET’s decision to join the New Charter Technologies (New Charter) platform, which has enabled the firm to pursue growth opportunities through acquisitions.
By becoming part of ADNET Technologies, the Tech II team also gains access to the expansive New Charter Technologies platform, a network of 21 managed IT services providers that operate independently and serve markets across North America.
Collectively, the NCT network employs 900 people, and together, the MSPs that make up the network are constantly innovating and continuously growing by empowering talent with opportunities to learn and lead.
“We’re excited to support ADNET’s investment in the Capital Region and we welcome Daniel Bardin and the Tech II team,” said New Charter Technologies CEO Mitch Morgan. “The foundation of New Charter’s model is that the Managed IT industry is a ‘people business’ requiring a local touch. As a combined, locally led organization, ADNET and Tech II will create exciting opportunities for their team and deliver even more innovative offerings for their regional clients.”
BY JILL NAGY
A new bakery in Saratoga Springs has opened on Putnam Street.
After several years of baking in a rented kitchen and selling online, Alex Gaertner opened Indulgence Bakery at 63 Putnam St. The official opening took place in May.
Much of her business is still done online, but Gaertner said she wanted to be able to meet and talk to her customers, so she opened the shop.
She also plans classes, workshops, and parties at the new space.
House specialties include custom cakes, cupcakes, and sugar cookies.
Now that wedding season is getting into full swing, she and her staff are also creating a lot of wedding cakes. Indulgence has four employees, including Gaertner: bakers, a decorator, and someone to take orders and look after the online business.
In addition to the baked goods, Indulgence has a
coffee station. Seating is outside on the patio where there are four chairs and a ledge to perch on. The store sits back off the street and can be accessed in a walkway beside the building behind Wasabi Restaurant & Bar, whose address is also 63 Putnam St. Gaffney’s is across the walkway from the bakery.
Gaertner grew up in Schuylerville and returned to the area after a career in the corporate world living in Boston. She said that she “always had a passion for baking” and wanted to do it full time. At the moment, there are no plans for expansion.
“We’ll do this for a year or so and see how we feel after that,” she said.
Indulgence Bakery is open from 10 a.m. to 4 p.m. Thursday and Friday and from 10 a.m. to 2 p.m. Saturdays. As the summer gets into gear, she plans to expand those hours.
People can reach the bakery at 518 212-7269 or online at www.bitesofindulgence.com.
right
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 3
At NBT Bank, our goal is to help you reach yours. Our relationship managers have the expert guidance, capital and treasury management solutions it takes to help grow your business. Our local perspective builds strong partnerships that maximize your potential for success. Let our experienced commercial banking team create real opportunity for your business. Member FDIC
to the
team. Connect with us today by scanning the code below or visiting our website. Marc Monahan Regional Executive Cell: 518.698.9567 mmonahan@nbtbank.com Ruth Mahoney Regional President Phone: 518.419.5279 rmahoney@nbtbank.com
After selling baked goods online that she prepared in a rented kitchen, Alex Gaertner opened Indulgence Bakery at 63 Putnam St. in Saratoga Springs in a space that also has a coffee station. ©2023 Saratoga Photographer.com
Trust your goals
Three Honored At Saratoga County Chamber Of Commerce Reimagined Gala Event
Three special honorees were recognized at the Saratoga County Chamber of Commerce annual gala in May at the 1863 Club at Saratoga Race Course.
Representatives from area businesses and nonprofit organizations attended the gala, which this year was a newly reimagined event replacing the former annual dinner. The new trackside venue offered guests the chance to experience one of the New York Racing Association’s newer luxury facilities, located at the clubhouse turn of the race course.
Honored were 2023 Joseph Dalton Community Service Award recipient Dr. Bill Long, 2023 Impact Sector Volunteer of the Year Richard Ferguson and the Chamber’s immediate past chair of the board Tara Anne Pleat of Wilcenski & Pleat PLLC.
The gala also serves as a networking opportunity for event goers.
“Beyond the celebration and recognition of Tara, Bill, and Rich for their tremendous volunteer efforts, this gala is meant to be a powerful and productive networking event for the organizations who sponsored and the individuals who attended,” Chamber President Todd Shimkus said. “This is one of the Chamber’s signature events and an important fundraiser for our organization, so I want to thank NYRA, Mazzone Hospitality, our sponsors, and attendees for continuing to support
the work we do to help our members and the community to succeed, grow, and thrive.”
Long, one of the original founders of CAPTAIN Community Human Services and a significant force in the creation of what is now The Prevention Council of Saratoga County, was formally presented with the Joseph Dalton Community Service Award. “It’s a privilege to have the honor of representing a whole team of volunteers that are doing good things,” he said.
Ferguson, who in addition to his professional role at Glens Falls National Bank & Trust Co. & Saratoga National Bank & Trust Co., has served with numerous local organizations over the past 30 years.
“Every single person here tonight understands what a great community that we live in, and we’re blessed to be in it,” Ferguson said after the ceremony. “One of the reasons why it’s so great is the myriad of not-for-profits and community organizations and municipal organizations that work behind the scenes making this place better.”
Pleat was presented with the traditional gift of a lawn jockey, painted with the logo for Leadership Saratoga, a Chamber-sponsored program dedicated to the development of leaders who will serve their communities today and in the future. Bringing the program back after a two-year hiatus due to the pandemic
4 • SARATOGA BUSINESS JOURNAL • JUNE 2023
Area businesses people gathered at the Saratoga County Chamber of Commerce gala dinner event in May at the 1863 Club at Saratoga Race Course.
On Page 7 SPECIAL SECTION NEXT ISSUE Call Today To Reserve Space (518) 581-0600 Fax: (518) 430-3020 Summer Construction 50-Plus Office / Computer / New Media Publication Date: July 7, 2023 Environment / Development Senior Living / Retirement Planning Workplace / Security / Legal Publication Date: August 3, 2023 SARATOGA BUSINESS JOURNAL
Courtesy Saratoga County Chamber of Commerce
Continued
Olde Saratoga Coin In Saratoga Is Purchased By Owner Of Northeastern Fine Jewelry
Owner Of Kingpin’s Alley Family Fun Center Named Proprietor Of Year By National Group
The Bowling Proprietors Association of America (BPAA) has named Doug Bohannon of Queensbury its 2023 National Proprietor of the Year.
Bohannon, along with his wife Alison, own Kingpin’s Alley Family Fun Center in South Glens Falls along with Kingpin’s Alley in Latham.
Bohannon is a native of Glens Falls and is a 1985 graduate of Glens Falls High School. He has been in the bowling business for the past 25 years.
In 2013 Doug and Alison purchased their first bowling center in South Glens Falls. Over the past 10 years, the center has been transformed from a traditional bowling alley into a modern family fun center.
Bohannon credits his success primarily to his previous employer, Bowl New England, from which both of his centers were purchased.
“Having worked for one of the industry leaders for 13 years prepared me for what owning my own center would be like”, Bohannon said. “The knowledge and insight that I gained during my time with Bowl New England has been invaluable in growing a successful business.”
The owner of Northeastern Fine Jewelry, a destination for fi ne jewelry for more than four decades, has purchased Olde Saratoga Coin and upgraded his new stores.
Olde Saratoga Coin has storefronts at 1593 Central Ave. in Colonie and 385 Broadway in Saratoga Springs.
“Coins have always been one of my passions and how we got our start in business back in 1980,” said Ray Bleser, owner of Northeastern Fine Jewelry. “Our original store was Northeastern Coin Gallery in Schenectady. For me, returning to my roots is deeply nostalgic, intensely gratifying and truly exciting.”
In its heyday, Northeastern Coin Gallery carried an inventory of hard-to-fi nd currency, jewelry and estate pieces. In 1985, the business was reincorporated as Northeastern Fine Jewelry, which has evolved into one of the Capital Region’s leading, independently owned jewelers, featuring an extensive selection of world-renowned brands, diamonds, engagement rings, wedding bands, watches and estate items.
Northeastern Fine Jewelry will continue to operate under its own banner with three locations in Albany, Schenectady and Glens Falls, according to Bleser.
Olde Saratoga Coin & Jewelry has been rebranded and updated to reflect the addition of a wide selection of estate pieces and jewelry to supplement its expansive inventory of coins, precious metals, sterling silver, paper money, pocket watches and fi ne Swiss watches at its two locations, Bleser said.
In 2022, Olde Saratoga Coin & Jewelry in Colonie underwent extensive upgrades and renovations while its sister store in Saratoga
Springs was relocated from 219 Broadway to an all-new storefront at 385 Broadway in the heart of downtown Saratoga Springs.
Bleser said the enhanced storefronts offer an upgraded experience for guests to sell their precious metals, watches and estate jewelry for their highest market value, and to explore the substantial collection of gold, silver, silver dollars, coins, bullion, watches, diamonds and estate jewelry available for purchase.
The synergies between the two businesses also means that Northeastern Fine Jewelry is able to feature an expanded estate jewelry collection while Olde Saratoga Coin & Jewelry can showcase a larger selection of jewelry.
Olde Saratoga Coin & Jewelry was founded in 1988, only three years after Bleser changed the focus and name of his original coin store to Northeastern Fine Jewelry. Nearly four decades later, Bleser has come full circle with the addition of two well-established Capital Region coin stores that, much like Northeastern Fine Jewelry, are known for quality, expertise, fair prices and an extensive selection of inventory.
“When we initially turned our focus to fi ne jewelry back in 1985 it was to meet the growing demand of the times. But my love for coins has never waned,” Bleser said. “Coin collecting will never go out of style, nor will buying or selling vintage and estate jewelry, gold and silver jewelry or diamonds and gemstones from any era.”
The three Northeastern Fine Jewelry locations are at 1575 Western Ave. in Albany; 1607 Union St. in Schenectady; 167 Glen St. in Glens Falls; and online at NEFJ.com.
Olde Saratoga Coin & Jewelry is online at www.oldesaratogacoinandjewelry.com.
Bohannon is no stranger to award recognition as his South Glens Falls business was awarded the Adirondack Regional Chamber of Commerce Small Business of the Year in 2018. Also, in 2018 he was named the New York State Bowling Proprietor of the Year.
During his tenure with Bowl New England he won the 2011 Employee Of The Year, selected from within a company of 700-plus employees.
Bohannon is an accomplished bowler as well. He is a member of the Adirondack USBC Hall Of Fame.
He serves on a number of bowling related boards, including the national BPAA board of directors, the New York State USBC board of directors and the Adirondack USBC board of directors.
Bohannon will be presented his award by the BPAA at Bowl Expo on June 27 at the Rosen Center in Orlando, Fla.
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 5
Expert electrical service.
MrElectric.com/Queensbury Locally Owned and Operated Franchise
The owner of Northeastern Fine Jewelry has purchased Olde Saratoga Coin, which has a storefront on Broadway in Saratoga Springs and in Colonie. Both stores are being upgraded. ©2023 Saratoga Photographer.com
518.389.7411
Doug Bohannon will be honored by the Bowling Proprietors Association of America in June.
Courtesy Kingpin’s Alley Family Fun Center
Micro Brews, Nonprofits Among Those Who Can Apply In Latest Grant Funding Round
New York state has opened the application period for Round XIII of the Regional Economic Development Council Initiative.
Round XIII includes core capital grant and tax-credit funding combined with a wide range of programs from 10 state agencies, including $150 million in grant funds from Empire State Development, available to projects on a continuous basis.
The councils are encouraged to support projects that advance or address strategic State priorities—including green buildings and sustainable development, child care, distressed communities, and innovative public-private partnerships; those projects, will be eligible for additional award funding.
The deadline for applications is Friday, July 28, at 4 p.m. Open enrollment programs are not subject to the July 28 deadline and will continue to accept applications on an ongoing basis until funds are exhausted.
Officials said new this year, two new micro programs will award capital grants to support New York state craft beverage manufacturers and non-profit organizations, and a new $30 million Challenge competition will award $10 million to up to three regions to implement creative solutions to tackle persistent barriers to economic growth.
Also, for the fi rst time since 2015, the councils will be tasked with updating their strategic regional economic development plans.
“Our Regional Economic Development Council Initiative continues to transform communities across the state, creating jobs and driving private investment all over New York,” Gov. Kathy Hochul said. “The launch of this latest round builds on state efforts to address our most pressing economic priorities—from sustainable development to the growing demand for childcare—all while empowering communities to tap into their regional strengths. Thanks to the work of the REDCs, New York is continuing to make the catalytic investments that foster economic growth and continued success in every corner of our state.”
Empire State Development President, CEO and Commissioner Hope Knight said, “While the Regional Economic Development Council Initiative has been a successful model for economic growth in New York state, we have been tasked to improve and enhance key programs that will expand on our many successes. Each region will update their strategic plans to reestablish their priorities for growth, continue to guide the deployment of resources, and create an updated road map for each region to
achieve its economic vision for the future.”
The 10 REDCs are guided by their regional strategic economic development plans, which emphasize each region’s unique assets and provide strategies to harness local resources to stimulate regional economic development and create jobs statewide.
Th is year, the regional councils will review and update their plans to re-establish each region’s priorities for growth, guide the deployment of resources, and create an updated road map to achieving its economic vision.
As part of the updated strategic plan, the councils will be tasked with analyzing specific challenges to economic growth. Each REDC will develop a proposal that outlines creative and innovative solutions to address one specific challenge of their choice. These proposals will be reviewed by the state and up to three winning proposals will be awarded up to $10 million funding to implement the proposed solutions.
Th is year, funding is available from 10 state agencies across 30 programs. Regional councils will review projects and provide scores that reflect how well a project aligns with a region’s goals and strategies.
In Round XIII, ESD is launching two new micro grant programs: the Craft Beverage Micro Grant Program and the Not-for-Profit Capital Grant Program. Up to $5 million will be available through the Craft Beverage Micro Grant Program, designed to increase the production capacity, business infrastructure and profitability of businesses licensed to produce wine, beer, spirits, hard cider and mead in New York State. Grants ranging from $25,000 to $50,000 would support equipment purchases and facility upgrades.
Up to $5 million will be available through the Not-for-Profit Capital Grant program, which will award matching funds grants to nonprofit organizations who provide economic and community benefits in their region to assist with facility improvements and upgrades. Grant awards would range from $25,000 to $100,000.
The Regional Economic Development Council initiative is a key component of the state’s approach to investment and economic development. In 2011, 10 Regional Councils were established to develop long-term strategic plans for economic growth for their regions. The councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. Learn more at regionalcouncils.ny.gov.
6 • SARATOGA BUSINESS JOURNAL • JUNE 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
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. SARATOGA BUSINESS
Go on our website www.SaratogaBusinessJournal.com www.GlensFallsBusinessJournal.com to subscribe to our email for the release of the the virutal edition. You may also mail your check in the amount of $25.00 for 12 issues made payable to Weinhagen Associates LLC to receive your paper by mail. Visit our website for the latest articles each month. www.SaratogaBusinessJournal.com 9 Broad Street #7 Glens Falls, NY 12801 9 Broad Street #7 Glens Falls, NY 12801
Editorial:
JOURNAL
United Ag & Turf, United Construction & Forestry Now Operate Under One Roof
‘Malta Business Works’ Created To Help Local Companies Network, Address Their Needs
BY SUSAN ELISE CAMPBELL
Malta Business Works is a new organization formed to help promote business in the town.
The group provides a forum for “a collective network of businesses to exchange ideas and talk about their needs and struggles,” said David Rosenberg of Brix Wine & Liquor, an officer of the nonprofit’s five-person board of directors.
According to Rosenberg, there are upward of 300 businesses in Malta. Malta Business Works is reaching as many as possible by piggybacking on the business-to-business calls of one of its member businesses, by word-of-mouth, and by using social media to advertise the event.
“We need a strong membership base to serve the community and help our businesses do business,” he said. “We are letting them know they can be a part of something to support local, grow their business, and meet with other businesses.”
Malta’s businesses represent a diverse group of products and services and range from working from home to a small independent business to large local employers.
“One of the members said something the other day that meant a lot to me,” said Rosenberg. “He said there is no water cooler for him to bounce ideas off of.”
draw customers for different reasons.”
Each monthly Malta Business Works Monday will feature a different subject matter relevant to the host business and invite a guest to speak on the topic, Rosenberg said.
Rosenberg said that many residents do not realize the Town of Malta got its name from the malt that was once grown and malted in malt houses along the shores of Round Lake. “And now we have two local breweries that use New York malt.”
Future guest speakers may cover such subjects as job posting ideas, credit card fees, social media marketing and ways to improve on different aspects of operating a business while helping drive the town’s economic growth.
The organization meets the second Thursday of the month at 8:30 a.m. and rotates the location so “that particular member can showcase what their business has to offer, too,” Rosenberg said.
The mission of Malta Business Works is “to cultivate a thriving, diverse and sustainable business community that positively impacts its members and the community.”
BY CHRISTINE GRAF
United Ag & Turf and United Construction & Forestry are now located under one roof in a brand-new facility located at 20 Deere Lane in Clifton Park. The 27,000-square-foot retail store is located just a short distance from Northway Exit 10.
Prior to relocating, United Construction & Forestry was located at 14 Crossing Boulevard in Clifton Park. The store operated as Nortrax before being acquired by Fernandez Holdings in 2021. Fernandez Holdings’ portfolio includes both United Construction & Forestry and United Ag & Turf.
Before moving to Deere Lane, United Ag & Turf was located on Route 9 in Clifton Park, the longtime home of Hudson River Tractor.
Prior to selling the company in 2020, Hudson River Tractor operated five stores in the Capital Region.
Headquartered in Fairfield, Maine, United Ag & Turf has 42 locations throughout the northeast. In addition to offering a full line of John Deere equipment dealer, they sell and support other brands including Stihl, Honda, Western Plow, and Ariens.
United Construction & Forestry is headquartered in Scarborough, Maine, and has 14 locations throughout the northeast. That side of the business sells new and used forestry and construction equipment.
“You can buy everything from a weed wacker to a big 1050K (John Deere) bulldozer,” said store manager Patrick Mullahey. “We also have over $1.5 million in parts inventory on hand to keep everybody up and running.”
Construction & Forestry is geared toward contractors. Although they do offer rentals with purchase options, their focus is on sales and service.
The Ag & Turf side of the business caters
to homeowners. The store’s product offerings include weed wackers, string trimmers, leaf blowers, riding lawn equipment, compact tractors, and push mower. They also offer parts and service for the equipment that they sell.
The stores have a total of 34 employees including four road technicians. All but two of these employees were on staff before United Ag & Turf and United Construction & Forestry were consolidated into one location. Finding qualified employees continues to be problematic, said Mullahey.
“We are looking at hiring an inventory control specialist because we have so much inventory. We’re also looking for another road technician—a mechanic,” said Mullahey. “The labor shortage has made things tough for the last couple of years. It’s hard to find good people that want to work.”
Although the labor market remains tight, he said supply chain issues have improved.
“We’re starting to have a lot more machines on the property which is great. Going through COVID, we couldn’t get machines, and since we couldn’t, we basically sold out our whole rental fleet.”
“And on the parts side, parts were hard to come by. It was a rocky couple of years. The business was still there but being able to capture it and deliver was very difficult. Things aren’t back to 100 percent, but we are definitely taking a step in the right direction.”
Mullahey said sales for equipment remain strong, especially with larger customers in the areas of heavy road work. Demand for forestry equipment has declined slightly as has demand for equipment form smaller excavation companies.
“It depends on the company. Some people are still buying and working hard, and others are holding their cards and seeing how the economy plays out.”
According to Rosenberg, businesses can rely on the support of other similar business to benefit one another.
“For example, just because there are two bakeries in town doesn’t mean they can’t co-exist,” he said. “They are similar businesses but they
Gala Event
Continued From Page 4
was a major goal for Pleat in her role as chairperson.
“I think that program really creates a lot of strength in our not-for-profit organizations. Better board members, better boards,” she said. “It was important to us to get it back,
The organization’s board of directors includes, in addition to Rosenberg, includes Jim Trainor of Trainor Law PLLC, Erika Anderson of Unified Beerworks and Paul Loomis of Roundabout Runners Club.
Businesses can learn more about the organization and upcoming events at maltabusinessworks.com.
especially at a time when our nonprofits need good, active, strong leaders.”
Since 1918, the Saratoga County Chamber of Commerce has been opening doors and closing deals for businesses throughout the Saratoga County community. Guided by a strong and sustainable vision, the Chamber leads the way in maintaining and strengthening a healthy business climate, initiating constructive community action, and creating a community where all can thrive.
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 7
SARATOGA BUSINESS JOURNAL ©2021 Saratoga Photographer.com Carol Hinman Co-Owner,
and Design Hinman Construction Reads
Marketing
Store manager Patrick Mullahey poses at United Ag & Turf and United Construction & Forestry, businesses that are now both located at 20 Deere Lane in Clifton Park in one large retail store. ©2023 Saratoga Photographer.com
REGIONAL STOCKWATCH
PROVIDED BY: ROBERT SCHERMERHORN, CFP
18 DIVISION ST.-SUITE 305, SARATOGA SPRINGS, NY 12866 (518) 584-2555
SECURITIES OFFERED THROUGH: LPL FINANCIAL / MEMBER: FINRA AND SIPC *DatasourcedfromMorningstar
investing includes risks, including fluctuating prices and loss of principal. This is for informational purposes only andnotintendedtoprovidespecificadviceorrecommendationforanyindividual.
Retirement Planing With SECURE Act 2.0
BY MARK PRIAN
The original Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was designed to expand access to tax-advantaged retirement savings accounts, and it made changes to existing laws to ensure that older Americans are less likely to outlive their retirement assets.
The intent of this act was also to improve the way businesses provide retirement benefits to employees. In 2022, some long-awaited changes to the original act were introduced, and, in December, what is now known as SECURE 2.0 was passed by Congress and signed into law by President Biden.
SECURE 2.0 builds on the original objectives and makes some important adjustments to the 2019 legislation. With more than 100 provisions in the law, these new changes are bound to impact just about everyone who is saving for retirement. So, whether your employees are close to retiring or have many more years to save, here are some highlights you need to know.
Starting in 2023, the biggest change in SECURE 2.0 might be the adjustments to Required Minimum Distributions (RMDs). Under the 2019 act, a plan participant had to begin withdrawing retirement savings at the age of 72. The 2022 law increases this to age 73, that began on Jan. 1, 2023. By 2033, the starting age for RMDs will be 75.
Also starting this year, the penalties for failing to take the RMD are cut from 50 percent of the amount not taken down to 25 percent. If you correct this mistake in a timely manner within an IRA, the penalty drops to 10 percent.
Employers may now choose to offer matching or nonelective contributions as Roth contributions.
The legislation permits employers to offer small financial incentives, like low-dollar-amount gift cards, to help boost employee participation.
For new retirement plans, companies may be able to take advantage of tax credits on start-up administration costs. There may also be company tax credits available for each employee that enrolls. Limits do apply.
Starting in 2024:
If you have employees who are putting off participating in a retirement plan because they have student loans to pay back, starting in 2024 employers can “match” those employee student loan payments as contributions to a retirement account. This provision may help the employee save for retirement while getting out of debt.
Catch-up contributions for those participants over age 50 may be required to be Roth contributions. This is dependent on employee income.
RMDs will not be required for Roth 401(k) and Roth 403(b) accounts. Employees’ accounts can continue to grow tax-free.
Employees may claim a personal emergency withdrawal of up to $1,000. Restrictions apply.
A “Side-Car” Emergency Savings Account can be established within the plan. Employees can access this additional Roth savings account tax and penalty free.
Plan Force-Out and Portability rules, which guide how employers manage the retirement accounts of former employees, are also changing.
Starting in 2025:
Upcoming changes in catch-up contributions might help you reach your retirement savings goals
faster. For employees ages 60 to 63, the catch-up limit increases to $10,000 effective January 1, 2025.
SECURE 2.0 expands automatic enrollment in retirement plans. The new legislation requires employers who introduce new plans to automatically enroll any eligible new employees. Small businesses with 10 or fewer employees are exempt, as are new businesses, defined in the bill as those which have been in business for three or less years.
Long-term, part-time employees will be allowed to save through the company’s retirement plan.
Starting in 2027:
The Saver’s Match program will reward low-tomoderate income workers for saving in a retirement plan. The Treasury will reward eligible savers with up to $1,000 in free match into their retirement account. The program currently in existence is the Saver’s Credit which allows for retirement savings-related tax credits.
One other interesting and potentially very helpful provision in the new law relates to lost 401(k) plans. If concern about dormant accounts due to staff turnover has kept you from offering your employees a retirement plan, this provision could help. For past employees who may have changed jobs and subsequently lost track of their 401(k) accounts, the new law establishes a retirement savings “lost and found” database to help people track down their missing and forgotten accounts. The database is anticipated to be up and running in about two years.
The original SECURE Act sought to make it easier for small businesses to create retirement accounts for employees, which was difficult and expensive in the past. With nearly half of all U.S. workers employed by small businesses, Congress recognizes that this is an important sector to reach and encouraging small businesses to offer retirement plans is critical. According to the U.S. Bureau of Labor Statistics, 67 percent of private industry workers have access to an employer provided retirement plan as of March 2020.
The intent behind the original SECURE Act was to encourage working Americans to plan for retirement. SECURE 2.0 builds on that by enhancing incentives for small business owners to motivate employees to participate. If you are interested in setting up a retirement plan for your small business, your financial institution is ready to help you get your employees on the road to saving for their retirement.
8 • SARATOGA BUSINESS JOURNAL • JUNE 2023
Courtesy NBT • • Business Report
Mark Prian, institutional wealth management consultant, NBT Wealth Management.
Stock Name Closing Price Closing Price Closing Price Closing Price Closing Price 05/05/2023 05/12/2023 05/19/2023 05/26/2023 06/02/2023 Albany International Corp. 91.97 90.54 89.92 86.88 90.73 Arrow Financial Corporation 20.44 19.30 18.90 19.04 20.02 AT & T Inc. 17.13 17.03 16.31 15.50 15.21 Ball Corporation 58.37 55.98 54.39 53.60 54.44 Ballston Spa Bancorp, Inc 51.50 51.50 50.50 50.25 51.50 Bank of America Corporation 27.49 26.88 27.89 28.09 28.71 Best Buy Co., Inc 73.57 71.73 70.53 74.33 73.21 Citizens Financial Group, Inc. 26.44 24.80 26.18 27.01 27.79 Espey Manufacturing & Electronics Corp 21.45 20.71 18.02 16.30 16.80 General Electric Company 100.24 98.80 104.26 102.74 105.80 Hilton Worldwide Holdings Inc. 144.46 141.58 144.18 138.09 142.80 The Home Depot, Inc. 287.55 288.39 288.80 290.74 295.94 International Paper Company 287.55 288.39 288.80 290.74 295.94 KeyCorp 9.63 8.81 9.62 9.89 10.28 Lowe’s Companies, Inc. 205.81 203.26 206.27 206.52 209.81 Martin Marietta Materials, Inc. 397.00 401.90 407.72 398.50 415.08 M&T Bank Corporation 117.35 110.27 120.35 122.32 125.59 McDonald’s Corporation 295.03 294.58 293.99 284.53 289.91 National Grid Plc 70.76 71.71 66.98 65.89 66.68 NBT Bancorp Inc. 31.46 32.17 33.99 34.58 36.73 Plug Power Inc. 9.29 7.48 7.73 8.25 8.77 Quad/Graphics, Inc. 2.82 3.21 3.99 3.24 3.60 Starbucks Corporation 106.68 106.12 105.51 98.53 99.50 Sysco Corporation 76.77 74.64 73.13 70.72 72.64 Latham Group, Inc. 2.42 3.33 3.55 3.83 3.73 Target Corporation 155.25 156.93 152.28 138.93 133.22 The TorontoDominion Bank 62.25 60.75 60.92 57.50 58.77 Kaspien Holdings Inc. 0.63 0.67 0.62 0.33 0.30 Trustco Bank Corp NY 28.57 27.26 28.04 28.44 29.45 Verizon Communications Inc. 37.83 37.59 36.05 35.00 34.58 Walmart Inc. 151.77 153.07 149.91 146.42 148.82
**Stock
Business Report
How You Can Help Your Kids Financially
SHERRY FINKEL MURPHY, CFP, RICP, CHFC
As a parent of adult children, there’s an ongoing tug of war between your values, your finances, and your time, with respect to your family.
True story: Last week, my husband hopped into his truck, and drove three states west on zero notice, to provide grandpa coverage for 5-year-old grandchild number four, while our daughter and son-in-law juggled careers, pregnancy, selling a house, and relocating. Their careers are taking them where they need to go; and we are monitoring where they land to see how we can best provide support.
We are feeling blessed to have the time and geographic flexibility that so many of our peers don’t have. It was a great case study in offering resources “besides” money, that are meaningful value-adds to the kids.
As your financial planner, I will always recommend that you “secure your own oxygen mask” (fund your own retirement) before you turn to the seat next to you and assist. That part certainly has not changed. What might be different for this generation is the notion of what “helping the kids” looks like. While once you were determined to fund a wedding or provide a down payment on a home, today you might be more creative—or even return to the intergenerational assistance of days gone by.
Here are some ideas for helping your kids that can be as rewarding for you as for your adult children: Combine an opportunity to see the grandkids with a destination family vacation and pay your own way.
Take the grandkids in the evenings or at certain hours to give your children a break without increasing the cost of their travel childcare. I have clients who love to travel separately and converge on a destination with their children and grandkids.
The grandparents split the cost of the rental with the adult children, for which the kids are grateful. Everyone gets a little rest. The adult children get a few muchneeded date nights, and the grandkids have quality grandparent time.
Start 529s for your grandkids’ education. The beauty of grandparent tax-preferred 529s is that they’re not necessarily visible on the financial need form. But they may come with a state tax benefit for you. The gift of education, no matter where it’s applied, is never wasted. Plus, courtesy of the SECURE Act 2.0, long-open 529 accounts that go unused may be able to fund a Roth IRA for the beneficiary, instead.
If the goal is for you to downsize, maybe pay for a mother-in-law suite or a tiny house in your adult children’s backyard. I know many people want to help their adult children purchase a house.
This worries me a little, because the house may be too much of a stretch for the adult children’s cash flow (and may result in the loss of flexibility for relocation.)
AARP Report: Two-Th irds Of Adults In U.S. Believe Consumer Fraud Is At A Crisis Level
Two-thirds of adults in the United States believe fraud has hit a crisis level, according to a new AARP Fraud Watch Network report.
The report also highlights the methods criminals use to steal money, such as cryptocurrency, gift cards and peer-to-peer payment apps. The findings suggest the need for Americans to share what they know about scams with their friends and family.
“Financial predators use a playbook to get us into a heightened emotional state,” said Kathy Stokes, AARP director of fraud prevention programs. “They know it’s hard to access our logical thinking when we are panicked, excited or scared. But knowing about specific scams makes it far less likely that we will engage with them.”
Criminals often turn to atypical payment options in their scams like gift cards, peer-topeer payment apps and cryptocurrency, because these forms of payment are processed quickly and cannot be reversed.
Peer-to-peer apps like Venmo, Zelle and CashApp are also used in scams. These apps do not offer consumers the same level of fraud protection as credit cards, but our research showed that 63 percent of adults are not aware of this distinction. These types of apps should be used as they are intended to provide payment to a known and trusted contact.
Fraud is a severely under reported crime, even as nearly nine in 10 adults feel people should report incidents, the report said. Nearly 40 percent of Americans still don’t understand that victims do not lose money to scams because they are gullible.
I know that for you, the parent, the American Dream was home ownership. But it may not be the first thing your kids should invest in. How about a creative compromise?
One client added funds to her daughter’s homebuilding budget to create a separate suite. Pre-pandemic, she summered in Europe, and everyone would visit her. Then she’d return home to her family for the winter, providing weekend babysitting coverage and an extra set of wheels for school and activity pick-ups.
Consider acquiring whole life insurance for your children and grandchildren, while they are young and insurable. Whole life insurance is a great utility player in a financial plan. It’s inexpensive to provide when young and the cash accumulation and/or long-term care rider can be critical to a retirement plan’s success. But your adult children, who have many competing obligations, may feel that it’s a bucket they can’t afford to fill until it’s too late and too expensive.
While you’re at it, acquire whole life insurance for yourselves and name your children as the beneficiaries.
Here’s what wealthy people know: They can spend or give away every dime of what they have, living later life to the fullest. It doesn’t matter if you have nothing left if you’ve already arranged for a tax-free transfer of wealth to the next generation via a life insurance death benefit.
Last, Ryan Frederick, author of “Right Place, Right Time,” is a longevity specialist who believes that geography—the right place to live—is critical to your health and wellbeing in retirement; and that living with or near family can be a multigenerational boon. Be strategic about your own resources, your community, and your activity. Is ‘aging in place’ really the right solution for you? Does maintaining the family
The AARP report showed one third of adults do not know it is a scam when someone directs you to use a cryptocurrency ATM to address some financial concern. In 2022 alone, the FBI says reported losses from fraud involving cryptocurrency reached $2.57 billion, a 183 percent increase from the previous year.
Gift cards also continue to be a common tool for criminals. About 25 percent of adults reported being unaware that being asked to make a payment or send money by gift card is a scam. A separate AARP report looking at the victim experience with gift card-related fraud emphasizes the emotional cost of these crimes in addition to the financial cost. Focus group participants felt there is little empathy for a crime that stole a reported $228 million from consumers in 2022 (FTC).
home worry your adult children? There’s a complementary body of research that indicates how important ‘grandparents’ are to the development of the youngest generation. Weekly wisdom and extra family time from Grandma and Grandpa (and help around the house) may be just what your adult children need, but something for which they would never think to ask. And there’s a great longevity benefit in it for you. Of course, living near family requires setting boundaries and the rules of drop-ins. I am simply encouraging you to rule out nothing in your search for the perfect way to help your children, financially. As for me, I’m off
Victimization from a scam can happen to anyone. Such language subtly blames the victim, underscoring the need for society to shift how we talk about victimization. Previous AARP research found that placing the blame for fraud on the criminal and not on the victim could lead to more reporting of these crimes and could ultimately lead to more law enforcement action to combat the fraud epidemic.
To read the full report visit Americans Are Aware of Fraud But Remain Vulnerable (aarp. org)
The AARP Fraud Watch Network is a free resource that equips consumers with up-to-date knowledge to spot and avoid scams, and connects those targeted by scams with our fraud helpline specialists who provide support and guidance on what to do next. Anyone can call the helpline at 877-908-3360.
The Fraud Watch Network also offers free, facilitated peer discussion groups that seek to provide emotional support for those experiencing fraud; and advocates at the federal, state, and local levels to enact policy changes that protect consumers and enforce laws.
to search for a small pied-a-terre exactly 20 minutes away from my kids’ new hometown on Zillow.
The primary purpose of permanent life insurance is to provide a death benefit. Using permanent life insurance accumulated value to supplement retirement income will reduce the death benefit and may affect other aspects of the policy.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM) and its subsidiaries, including Northwestern Long Term Care Insurance Company (NLTC) in Milwaukee, WI.
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 9
• •
Sherry Finkel Murphy is a private wealth advisor with the Atrium Financial Group. Courtesy Atrium Financial Group
Saratoga Hospital CEO Wants Facility To Stay Strong In The Community As It Grows
BY SUSAN ELISE CAMPBELL Saratoga
Hospital brought on a new CEO last fall, Jill Johnson VanKuren, who with the end of her first year approaching has expressed her goal to “protect the integrity of the hospital while advancing the future needs of the community.”
VanKuren left her position as COO of MedStar Franklin Square Medical Center in Baltimore to accept her first CEO role.
“I was looking for an opportunity more in line with a traditional community hospital,” she said. “Here in Saratoga, there is one hospital in the county and people live, work and play in the same area, so staff are truly committed to the community.”
Although Saratoga Hospital has been affiliated with Albany Medical Center since 2017, VanKuren said it is “right at the beginning of the journey” of joining forces with the Capital District’s top hospital system.
“I had been with MedStar since its early inception and helped facilitate its progress of becoming a larger system,” she said. “The relationship with Albany Medical Center and Saratoga Hospital forming as a system was a unique opportunity for me.”
One of the things Van Karen brings to the table as a leader is experience in successfully integrating hospitals like Saratoga Hospital, she said. “The way you do that is by focusing on the benefits of the system.”
It can be difficult for a community hospital to blend into a system while still feeling like “its culture and its commitment to the local community are preserved and its identity stays intact,” she said. “Integrating into the larger system while keeping the integrity of the community hospital is about maintaining the spirit of how we do things. Saratoga stands for family orientation and kindness and going above and beyond to make people feel welcomed and cared for.”
VanKuren said affiliation is not acquisition, but some have the mistaken impression that the hospital was purchased by or merged into Albany Med. Saratoga Hospital remains independent while benefiting from affiliation with a system having vast resources.
How the public perceives the change is “one of the hospital’s struggles,” she said. “A community hospital cannot provide everything to everyone. What does change is the availability of services, a common EMR to share information, more seamless collaboration across multiple hospitals, lower costs, and negotiation power on contracts.”
The hospital’s biggest challenge today is staffing, which VanKuren said is not unique to Saratoga.
“Every hospital is struggling,” she said. “Urgent care centers in other areas are closing to preserve staff.”
The root problem is rising costs.
Regional Medical Partnerships Provide Students Early Exposure To Patient Care
A new partnership between Albany Medical College and several regional health organizations provides a unique opportunity for medical students to gain early clinical exposure.
The Introductory Longitudinal Clerkship (ILC), part of the Medical College’s major curriculum modification, places first year medical students with primary care physicians throughout the community.
Since January, 145 medical students have attended regular half-day sessions with primary care physicians from Community Care Physicians, St. Peter’s Health Partners (SPHP), the Stratton VA Medical Center, Albany Med Health System members Columbia Memorial Health and Saratoga Hospital, as well as several private practices.
The ILC gives students the opportunity to work with the same physician preceptors as they provide care to their patients over time. Traditionally, medical students would not start clinical patient care training until the third year of medical school.
mutual benefit that such a strategic medical education partnership provides.
“Community Care Physicians has long been committed to educating the physicians and advanced care practitioners of the future both in our offices and in the Family Practice and Radiology Training programs we share with Albany Medical Center. We have been pleased to extend our collaboration to include the Longitudinal Clerkship,” said Dr. Ronald V. Musto, MPH, MBA, deputy CEO and internist, Community Care Physicians. “The looming physician shortage, particularly in the Capital Region, is well known. We encourage more practices to familiarize students early in their careers not only to the rewards of practicing medicine, but of practicing medicine in the Capital Region.”
“When labor or supply costs go up, we cannot increase our prices,” said VanKuren. “The health care industry cannot do what other businesses do and pass on our rising labor and supply costs to consumers because revenue is set by Medicare, Medicaid and the private insurers.”
She said paying higher wages without the ability to generate more revenue is a particular problem in New York state.
Had it not been for the COVID-19 pandemic, more practitioners may have retired over the past three years. But VanKuren said those who were planning to retire “hung on during the pandemic until things stabilized. Nobody gets into health care for the money. They do it for the service.”
People who want to go into the nursing profession are finding there are not enough seats in the classrooms to enroll into nursing school. The interest is there, but nursing programs have been shrinking, she said.
“We need to open up more access in the school systems to train more physicians, more nurses, more laboratory technicians,” she said.
They will be needed to serve an influx of retirees who will consume more health care in years ahead. Saratoga county is one of the few counties in the state that continues to grow.
“We need to look at how we are going to meet the needs of a growing and aging population,” she said. “Folks moving to Saratoga are active and they want to age successfully. Our seniors need to be supported through the aging process and have access to preventative care as well as acute care when they become ill.”
Thus, the hospital’s strategic planning over the
“Such early longitudinal clinical experiences with positive physician role models have been shown to help students develop foundational clinical skills, self-confidence, empathy toward patients, and a sense of professional identity,” said Dr. Alan Boulos. “We’re grateful to our community partners who have so generously volunteered their time to help us educate the next generation of physicians.”
The early exposure to patient care has also been shown to promote student career interest in primary care fields such as family practice, internal medicine, and pediatrics. This is of particular importance to area health organizations and the medical community as they try to meet the challenges of an ongoing shortage of primary care physicians, officials said.
The organizations participating recognize the
next few years addresses how to develop a Center for Successful Aging in Saratoga, she said.
VanKuren would like to shift focus from building an ambulatory care center off Myrtle Street— which has been stuck in the approval process with the city for several years—to a Center for Successful Aging. The operation would cohort all the supportive services for that population. She said she would like to see it coming together in five years.
“The community has always expected Saratoga Hospital to be a high quality organization,” she said. It has delivered, with four-star ratings from Medicare and Medicare, a Leapfrog Hospital Aranking, and recognition as an ANCC Magnet Hospital, a high-level designation for nursing excellence, according to VanKuren.
“We are proud of these awards. They show the community that they come with a high level of
First-year Albany Medical College students, who have completed the first semester of the ILC, have embraced the new clerkship as an opportunity to apply their growing medical knowledge to patient care at an early point in their education.
Students will continue their clerkships during the first semester of their second year from August until December.
“St. Peter’s Health Partners Medical Associates was pleased to support Albany Medical College this year with its inaugural clerkship program for first year medical students,” said Dr. William Kowal, a primary care physician with SPHP Medical Arts and the physician group’s chief medical officer. “During my time as a medical student, the impact that teachers and mentors had on my growth and development as a physician cannot be overstated. Given the current nationwide shortage of future physicians choosing to go into primary and family care, providing this cohort an opportunity to explore the many career opportunities available in this care setting was a true privilege.”
service,” said VanKuren. “And with that comes our culture, and those things don’t go away because that is who we are. The affiliation with Albany Med further gives us access to more than we could ever provide on our own.”
With the pandemic “in recession,” VanKuren said more people are coming into the hospital for maintenance care that they put off during the many months of isolation.
“Now that people are getting their screening tests or annual visits to their primary care provider, we find they are sicker than expected,” she said. “We’re also dealing with people with long-term effects of COVID and these are also new challenges for us, in addition to the standard care we provide.”
VanKuren said she would like the community to know the hospital appreciates the support through the pandemic.
10 • SARATOGA BUSINESS JOURNAL • JUNE 2023
Jill Johnson VanKuren became the CEO of Saratoga Hospital last September. Courtesy Saratoga Hospital
"Locally Run Since 1981"
Restaurants Must Post Allergy Awareness Lists
Two state agencies are marking Allergy Awareness Month by informing the public about a new law affecting New York restaurants and other food service establishments.
Beginning May 20, any business that serves food in New York is required to post an allergy notice that is visible for employees involved in preparing and serving food. The notice also includes information on how staff should respond to a customer who reveals they have a food allergy, how to prevent cross-contamination in food preparation and service, and directs them to call 911 if a customer has an allergic reaction.
The policy is the product of a bill sponsored by state Sen. Cordell Cleare and Assemblywoman Linda Rosenthal. Gov. Kathy Hochul signed the legislation in November. The legislators explained that the bill’s intent is to “educate restaurant personnel and ensure that safety mechanisms are utilized in food preparation and service.”
The new law also requires restaurants and food delivery services to label the eight major food allergens on menus.
The state Department of Agriculture and Markets, along with the state Department of Health, are raising awareness about the policy. Food safety is a priority for both agencies. The departments have inspectors who check food service establishments, restaurants and manufacturing plants.
“For people with food allergies, eating something that has been cross-contaminated with potential allergens can have serious consequences,” acting state Health Commissioner Dr. James McDonald said. “This new initiative will help inform food service workers about the dangers of food allergens and protect their customers with food allergies, while also giving consumers comfort in knowing that staff is prepared to assist them in case of an emergency.”
Melissa Autilio Fleischut, president and CEO of the New York State Restaurant Association, views the initiative as a benefit for food service establishments and customers.
“This program will allow diners to take back some confidence when dining out, as well as allow restaurants to better protect patrons from potential allergen exposure and educate their food service workers,” she said.
Student Nurses Can Use Simulated Experiences
Gov. Kathy Hochul signed legislation into law in May that officials say strengthens New York’s health care workforce by permitting nursing students to complete up to one-third of their clinical training through simulation experiences.
Overseen by the state Education Department, simulation training gives students hands-on experience in clinical environments while allowing nursing education programs to offer more options for clinical education. As New York currently faces a nursing shortage, expanding simulation experiences can help expedite training and deliver an influx of nurses where they are needed most.
“Our nurses have been invaluable to our health care system, especially throughout the pandemic, but too often feel overworked doing the jobs that they love, which has only been amplified by the current nursing shortage,” Hochul said. “I’m proud to sign legislation strengthening our health care workforce expediting training and allowing more capable nurses into the workforce improving care for all and creating a safer, healthier New York.”
Legislation allows for up to one-third of clinical education in nursing certificate and degree education programs to be completed through simulation experience. It will make nursing education more accessible, helping to address New York’s nursing shortage, which is projected to reach a workforce need of nearly 40,000 employees by 2030.
Training needed to become a highly skilled nurse in New York limits clinical placements in a hospital setting, and until students complete those placements, they cannot receive their nursing license and join the workforce. Instead of forcing eager students to wait for an open spot in a hospital, expanding simulated training will help clear the logjam, address the shortage, and ensure high quality care for millions of New Yorkers. High-tech, high-quality simulation training is already in place in 31 states.
Acting State Health Commissioner Dr. James McDonald said the legislation “will add morequalified and practice-ready nurses into the healthcare workforce.”
Board of Regents Chancellor Lester W. Young, Jr. said, “Nurses are dedicated, vital healthcare professionals who serve some of our most vulnerable populations. The Board of Regents is committed to doing everything it can to help assuage the nursing shortage that is gripping our healthcare system with policies to improve and enhance clinical education to prepare more future nurses for real-world, life-saving situations.”
Malta Med Emergent Care Expands As It Meets Diverse Community Health Care Needs
In June 2013, Albany Medical Center and Saratoga Hospital entered a partnership to bring cutting-edge health care closer to the homes of Capital Region residents.
The vision was to provide surgical, urgent, and specialty care outside the hospital and in a place that was more comfortable and convenient. Today, officials say Malta Med Emergent Care is a pivotal point of access to the broad scope of services throughout the Albany Med Health System, including those provided by the Bernard & Millie Duker Children’s Hospital at Albany Medical Center and the region’s only Level 1 trauma center.
The system practices more of the most advanced medical specialties than any other local health care network, according to Albany Med.
“In its first year, Malta Med Emergent Care saw more than 28,000 visits, underscoring its role in the community,” said medical director Dr. Joanne McDonough. “Today, we are providing care for more than 45,000 visits annually, offering a reliable alternative to the emergency department for all but the most critical conditions.”
The success of Malta Med fueled expansion. The complex now includes facilities for same-day orthopedic surgery in collaboration with Capital Region Orthopedic Associates through the Center of Advanced Ambulatory Surgery, which opened on the Malta Med campus in 2021. Care and treatment for oncology, physical therapy, and other services are also performed at Malta Med.
“We are committed to meeting the diverse health care needs of our community,” McDonough said. “For emergency medicine, our round-theclock team ensures that patients receive the highest level of attention and expertise, reinforcing our dedication to their well-being.”
Advanced technologies at Malta Med allow physicians to make accurate diagnoses and initiate timely treatment. “Our access to technologies such as CT, ultrasound, x-ray, as well as an on-site pharmacy and lab is unlike any ambulatory facility in the region, enabling our physicians to deliver prompt care,” explains McDonough said. “Should our patients require a higher level of specialized treatment, we can seamlessly transport them to one of our Albany Med Health System hospitals, ensuring they receive the comprehensive care they need.”
“We are immensely grateful for the trust and support we have received over the years,” said Saratoga Hospital chief medical officer Richard Falivena. “As we reflect on our journey, we look forward to the future, where we will continue to deliver the highest standards of care and compassion. Malta Med stands as a testament to the power of collaboration and to the Albany Med Health System.”
The Albany Med Health System is the region’s only locally governed health care system. It includes four hospitals, Albany Medical College, the Visiting Nurses, and more than 900 physicians caring for patients in more than 125 locations.
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 11
Officials say Malta Med Emergent Care is a pivotal point of access to the broad scope of services throughout the Albany Med Health System.
Courtesy Albany Med
Contractors Say Inability To Fill Jobs Drives Up Costs And Brings About Project Delays
At Local Plumbers & Steamfitters Union, ‘People See They Have A Future’ Manager Says
BY PAUL POST
In the 1989 baseball classic, “Field of Dreams,” a mysterious voice tells character Ray Kinsella (Kevin Costner), “If you build it, they will come.”
These days, Kinsella might have a hard time finding the help he needs as a nationwide labor shortage continues to impact the building trades industry, a problem that’s especially acute in the Greater Capital Region.
“There’s not nearly enough bodies to fill the openings,” said Chris Dudley, a heavy equipment instructor at the WSWHE BOCES center in Hudson Falls. “All the big employers like DA Collins and Peckham Materials are really hurting for heavy equipment operators, truck drivers and laborers. State, county and town highway departments are reaching out to us, looking to hire kids directly out of high school. They’ve never had to do that before. Everybody’s really having issues.”
There are so few truck drivers that the state recently lowered the age for obtaining a Class A commercial drivers license from 21 to 18, allowing more young adults to drive tractor-trailers.
A recent U.S. Labor Department study says there were 7.6 million unfilled trades jobs and
only 6.5 million people looking for work.
The problem stems from large numbers of Baby Boomers retiring out of the workforce, particularly during COVID, officials say. At the same time, school enrollments have steadily decreased the past few years and New York state in particular is faced with a declining population. More than 650,000 people have left for more economically friendly, warm weather states since 2020.
“The shortage has been bad for several years and is continuing to get worse as more businesses have suffered from the labor shortage post-COVID,” said Doug Ford, vice president of sales and purchasing at Ballston Spa-based Curtis Lumber Co. “It’s going to drive up costs and the building completion timeline. The biggest challenge is educating students, counselors and parents about the lucrative opportunities in trades. There are many misconceptions about our industry.”
The stereotype is one of long hours, doing physically hard work at relatively low pay. In reality, within 10 years a skilled equipment operator or electrician can make up to $100,000 per year or more, while their friends who went to a four-year
Continued On Page 13
BY CHRISTINE GRAF
At a time when local contractors are struggling to fi nd qualified skilled trade workers, Local 773 Plumbers & Steamfitters has at least 40 qualified applicants anxious to join the union’s five-year apprenticeship program.
The union represents more than 450 plumbers, pipe fitters, steam fitters, refrigeration fitters, and service technicians in Clinton, Essex, Franklin, Hamilton, Saratoga, Warren and Washington counties. The local headquarters is in Glens Falls.
“I am seeing no shortage, and I know that I can recruit the people I need because we pay a living wage,” said Mike Jarvis, business manager at Local 773. “People see that they will have a future with us. They know they will be treated right.”
Despite being overwhelmed with applicants, Local 773 has been able to accept just three people into the Glens Falls apprenticeship program so far this year. Jarvis expects that number to top out at six, with an additional three apprentices likely be selected from another large applicant pool in Plattsburgh where the union has its second location, he said.
Expanding its apprenticeship program will be possible only if the union is able to secure additional signatory union contractors.
In recent years, Jarvis and Brian Kill, business agent at Local 773, have been working to
attract contractors from the residential and light commercial sectors.
“We realized we are missing a lot of market share within the residential and light commercial market space, so Brian and I sat down and came up with a wage rate and benefits package to fit the local economy,” said Jarvis.
“We spent a lot of time talking to contractors, and we came up with an agreement that would make the contractors competitive but would also offer benefits to their employees. The wage was geared more towards a fi rst year trainee, and the all-in package was less than that of a standard apprentice. Contractors loved it because it allowed them to still be competitive while paying employees what they were worth.”
Under that agreement, Local 773 workers were contracted to work on the apartments at Fowler Square in Queensbury where Albanybased BBL Construction was the contractor.
“It started off like a bang, but after they completed Fowler Square, I didn’t have jobs to send them to afterwards,” said Jarvis. “Now I’m working diligently with a lot of my contractors to try to get them to bid on more of this residential/light commercial work.”
Most independent contractors are reluctant to hire union workers because doing so cuts into their bottom line.
According to the Brookings Institution, BrookfieldrenewableUS.com
Continued On Page 13
12 • SARATOGA BUSINESS JOURNAL • JUNE 2023
MEMBER OF THE SARATOGA CHAMBER OF COMMERCE
Brookfield is proud to be an active community partner of the businesses that serve the Saratoga region
People earn good wages via construction jobs in the area, but contractors continue to report that there are not enough people to fill the positions that are needed.
©2023 Saratoga Photographer.com
Officials at Local 773 Plumbers & Steamfitter say they have union members ready to take on jobs in an industry that complains of worker shortages.
Courtesy Local 773 Plumbers & Steamfitters
Labor Issues
Continued From Page 12
college with no specific career in mind, are still paying off loans.
“A lot of kids aren’t really college-bound, but just think it’s the right thing to do,” said Nancy DeStefano, BOCES assistant superintendent for instructional programs. “We try to help them understand they can have very good careers by taking a Career & Technical Education (CTE) program and going right into the workforce, or a year or two our of trade school, with no college debt. There’s tons of building trades opportunities out there such as electrical, plumbing, HVAC, roofing, siding, concrete work and excavation.”
One union, the Niskayuna-based International Brotherhood of Electrical Workers 236, is an apparent anomaly in the local labor shortage crisis. Assistant Business Manager Mike Martell said that all 1,600 of his union’s positions are filled with more applicants waiting in the wings.
“We have a bargaining agreement with about 100 employers in the region,” he said. “If they need manpower they call us up. We work in 13 counties, mostly Schenectady, Albany, Rensselaer and Saratoga counties. Projects are kind of all over the board. We do commercial, industrial, solar farms, wind farms, a variety of things.”
“We have our own five-year apprenticeship training program,” Martell said. “We do some high school recruiting and attend trade shows and career days. But that’s not exclusively the pool we draw from. We also get people in their 30s and 40s who maybe tried something else that didn’t work out and want a fresh start. They can get into our program and be as successful as anybody else.”
“People come here looking for a career and they’re able to find one and support their family,” he said. “They don’t have to make any payments toward healthcare or retirement. That’s all covered.”
Education and building trades leaders alike are pursuing multiple efforts to address the labor shortage.
Six years ago, Saratoga Builders Association formed a Task Force, co-chaired by Ford and
fellow Curtis Lumber official Pamela Stott, with a goal of educating students and helping them make informed decisions about their industry.
The Task Force has since evolved into the nearly 50-member Capital Coalition for the Trades, with firms from several counties. It’s currently seeking non-profit status with plans to create its own board.
Specific efforts at reaching young people have included work site tours, job shadowing and trades people visiting schools to talk to young about their jobs, benefits and rewards.
“There is no quick fix to this problem, which is why we are even working with elementary students now to start the learning process much earlier, in hopes that by the time they graduate more kids will consider the trades as a viable option,” Ford said. “We have a ‘Build a Toolbox’ program. Members from the trades and Curtis Lumber employees go into the elementary schools and help kids assemble the toolbox while talking to them about all the various trades that help build a house.”
On another front, the Coalition helps school counselors learn about trades with hopes they’ll encourage more students to consider the industry. In March, 88 counselors from throughout the area attended a 2.5-hour workshop hosted by BOCES, and left with the tools needed to inform young people about trades.
Also, a Women in Trades Initiative, highlighting opportunities for female building trades workers, is just finishing up its second year. Women represent a huge untapped pool of potential employees as females account for a very small percentage of the building trades workforce.
Several dozen girls in grades eight to 10 took part in hands-on opportunities at BOCES this year to see what the industry is like, in addition to hearing from female workers who visited local middle schools and high schools.
And recruitment efforts aren’t just aimed at students.
BOCES holds twice-a-week evening classes, from six to eight weeks long, giving adults the training they need to qualify for building trades jobs, also.
“We can all do something to change the course we’re on,” Ford said. “Talking about the problem without acting solves nothing.”
Plumbers
Continued From Page 12
union workers earn 11 percent more than nonunion works. They also received an attractive benefits package which includes health insurance and a pension.
“It’s very unusual for contractors to use union employees,” said Jarvis. “I’m not saying that this applies to all contractors, but many want to get rich on the backs of their employees.”
According to Jarvis, Boyce and Drake Plumbing in Saratoga Springs is one of the few small local contractors that relies on workers from Local 773.
“Boyce and Drake does residential and light commercial heating, cooling, and plumbing, and their charge out rate is the same as the other eight or ten non-union companies that they compete with,” said Jarvis. “That means that the homeowner still pays the same price, and the only difference is that Boyce and Drake doesn’t make as much because they are paying their employees a living wage. Their employees don’t make as much as my A-rate guys at GlobalFoundries do. But they make a great wage and have health insurance and the complete pension that 773 offers.
“With 773, you are getting quality employees. Our workers are trained professionals who went to school for five years in our apprenticeship program and receive continuous training. And, if there is an issue with an
employee on the job, you make one call, and I come down and sort it out. We get it done.”
Studies have also indicated that union workers are more likely to engage in safety practices than their non-union counterparts. Union workers are also able to express concerns over workplace safety without fear of retaliation.
Jarvis warns developers to be wary of what he refers to as the “fly-by-night” general contractors. In order to cut costs, these contractors often hire subcontractors who do sub-par work, something that can lead to costly mistakes.
“You get a lot of cut-rate general contractors who sub out the work. The cheaper he can get the subcontracting done, the more money he will make,” he said. “At the end of the day, if the work that is being performed on your job isn’t quality, you need to start asking questions. It may have been cheaper up front, but in the long run, was it really cheaper?”
When it comes to the skilled trades labor shortage, Jarvis said it comes down to dollars and sense.
“If you pay their worth and treat them properly, I don’t think we would have the shortage in the trades.
Local 773 has no shortage of skilled workers, and Jarvis is hopeful that contractors in the residential and light commercial sectors will take advantage of the competitive wage agreements that are available.
“I need to get the message out that we have no shortage and that we could man these projects if they gave us a chance,” said Jarvis.
Every Door Direct Mail
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 13 Since 1945 Eastern Heating and Cooling, Inc. has been serving commercial and industrial customers through Upstate New York, Western Massachusetts and Southern Vermont with designs, installation and maintenance service. When faced with difficult complex problems, experience matters. Quality People. Buildin g Solutions
29
Chuck Ciaccia
years
34
Jude Gosh
years
OVER 159 YEARS COMBINED EXPERIENCE
Dave Weiss
23
years Spencer Agan 25 years
A Division of Mechanical Design Service & Maintenance Facility Automation Services Sheet Metal Fabrication easternheatingcooling.com 518-465-8878
Dennis Choiniere 48 years
TARGET CUSTOMERS IN THE COMMUNITY AROUND YOUR BUSINESS. GRAPHIC PRECISION 518-232-8695 • GraphicPrecision.com EDDM
Minimum Effort • Maximum Results
North Country Commons Shopping Center Gets New Look, Working On New Tenants
BY JILL NAGY
North Country Commons, one of Clifton Park’s oldest shopping centers, is in the midst of a major facelift— a new facade and a new layout—and is welcoming new tenants, including a swim school and computer games parlor.
Part of the center, at 1206 Route 146, is a former church that once housed an Albany Public Market. That has been divided into four smaller spaces. The occupant of one of them, Flipside Gaming, opened in November and already has customers lined up every morning waiting for the video and computer game facility to open, according to Howard F. Carr, a broker with Berkshire Hathaway Real Estate, who is managing the center and the renovation project.
Goldfish Swim School, a swim school, already has 600 children signed up for lessons, Carr said. He represents the owners, Whitney Lane Holdings LLC of New York City.
Another tenant new to the center is Clifton Park Beverage Center. The center already has outlets in Colonie and South Troy.
Carr said the facelift project might be completed by the end of the summer. It has been a long haul—two and a half years just to get necessary municipal approvals—made longer by shortages of materials.
For example, it took three weeks to get plywood for the facade, something that normally takes two days, he said. Materials like plywood, steel studs, and electrical switching soft ware are not manufactured locally and are in short supply.
“We can’t ask for price anymore,” he said, “It’s just, ‘Can I get it?’,” he said.
One local roofing supplier has about 60 percent of his shelves empty, Carr estimated. Usually it is more like 2 percent. For another project, Carr is still waiting for 266 lighting fi xtures he ordered in January.
The total cost of updating the center was estimated at $1.5 million. Carr now calls that the minimum cost. “Everything you purchase today has gotten much higher” including such items as concrete, copper wire, and steel stud
work.
The investor group in New York City that owns the center “is not balking at added costs, but they are not happy about it,” he said. While the renovation “was not a total gut,” electrical work, plumbing and improved air conditioning are included in the project.
So far, no tenants are leaving and space is renting quickly, Carr said. Still, space is available and “we are always looking for tenants.” If they run out of space, “we can build,” he said. A new restaurant is a probable addition to the center.
“We are talking to a couple of different ones. We’ll see what works out. I’d like to get some food in there,” Carr said.
Carr took over the management and leasing of North Country Commons 14 years ago, when the current owners bought it. He has been in the commercial real estate business for 54 years, he said, and was involved in the construction and management of several other well established shopping centers and malls.
Caruso Builders Plans To Build Townhomes In Malta; Some 68 Units Are Projected
BY CHRISTINE GRAF
Anthony Caruso, president of Saratoga-Springs based Caruso Builders, has plans to build townhomes at Sage Estates, a subdivision at 2782 Route 9 in Malta.
Caruso purchased the land for the subdivision for $2.38 million from 3D Lundy LTD, a company controlled by Dean DeVito. DeVito, principal of Prime Companies, first submitted the proposal for Sage Estates to the Malta Planning Board in November 2018. In 2022, he received approval to build 34 two-family homes on the property.
Although this will be the first townhouse project for Caruso, his company has been building homes throughout the Capital Region since 2009. For the past five years, the majority of the projects have been in Saratoga County and downtown Saratoga Springs.
“I mostly do semi-custom to full-custom builds, and we’ve got a very high-end project in phase 2 of Oak Ridge,” he said.
Oak Ridge, an upscale residential development, is located just east of Saratoga National Golf Course. One of Caruso’s Oak Ridge homes, a 3,700-squarefoot house located at 23 Jenna Jo Avenue, will be featured in the 2023 Saratoga Showcase of Homes.
Sage Estates will be comprised of 34 two-family residential lots, and there will be several different floor plans for the 68 units that will be available for sale.
He said one of these plans will feature a master bedroom on the first floor, something that is expected to appeal to empty nesters and snowbirds who are looking for a less expensive alternative to living in downtown Saratoga Springs.
“Sage Estates has such nice proximity to downtown Saratoga and SPAC and the Northway,” said Caruso. “It’s going to be a beautiful project, and my plan is to do a slightly higher-end townhome. We’re still working out the details of exactly what will be included in the HOA (homeowners association) — whether it will be a fully maintenance-free exterior.”
Because the design work is in the early stages, a selling price for the units has not been finalized. Caruso anticipates that it will be at or around $600,000.
“We are going to try to stay between the $500,000 and $600,000 range, and we are working on having a few different floor plans. I would like to keep it under $600,000, but it’s hard to say exactly where they are going to land,” he said.
Infrastructure work at Sage Estates is already underway, and construction for a model home is expected to begin in the fall.
“I’m going to get rolling right away, and I’ll probably build 4 to 6 units whether they are sold or not,” said Caruso, noting that demand for new construction remains strong.
“We’re not a homebuilder that relies on 40 to 50 closings a year, so I can’t speak for those who have high volume. We range between 15 and 20 homes at any given time, and our demand is steady. I think Saratoga County as a whole is in somewhat of a bubble when it comes to the real estate market. There’s still a lot of pent up demand,” he said.
According to Caruso, his company continues to struggle with supply chain issues that originated at the height of the COVID pandemic. “They’ve gotten better in some areas, but for the most part, it’s still somewhat difficult. We’ve more or less adapted to it by changing the way we process things on our end.”
While lumber costs have come down, they have not returned to pre-pandemic levels. As for other materials, he said prices continue to rise.
“I’m getting price increases every week on various things, most recently roofing material and accessories have spiked another 10 percent,” he said.
“It’s causing real problems for people who are looking for affordable housing. Thirty years ago, a developer didn’t have to go through the things we have to go through today to get a piece of property developed. Between all of the studies, engineering, back and forth with town for months or years on end, the price of land, the skyrocketing material costs—when you put that all together, there’s nothing a builder can do to today to provide people with affordable housing unless there is some sort of grant or incentive provided by the state or government.”
The skilled labor shortage adds an additional challenge to builders such as Caruso who rely on subcontractors.
“The labor pool for my vendors and subcontractors is not improving whatsoever,” he said.
14 • SARATOGA BUSINESS JOURNAL • JUNE 2023
Navigating your Project to Success! 105 Lakehill Rd., Ste 2, PO Box 210 Burnt Hills, NY 12027 www.kbengineeringandconsulting.com 518-280-0046 Kurt Bedore, PE, MBA, Owner Civil & Environmental Engineering Project Management & Planning
Work is ongoing at North Country Commons, 1206 Route 146, Clifton Park. ©2023 Saratoga Photographer.com
Make-A-Wish Northeast New York To Make Saratoga Springs Its New Headquarters
Company Plans To Build 60 Apartments, 40 Garages At 1471 Route 9 In Clifton Park
BY CHRISTINE GRAF
MRK Real Property, a Clifton Park-based real estate development company, plans to invest between $4 million and $5 million to build apartments at Crescent Commons. Located at 1471 Route 9, the retail and office plaza is currently home to several businesses.
According to MRK’s Michael Klimkewicz, “the units will be built on top of the existing plaza’s footprint. All of the existing tenants will remain, and there will be a new roadway going out to Plank Road which will be done this fall.”
The current tenants occupy the first floor of the two-story building, and the second floor is currently vacant. The second floor will be converted into apartments, and a third floor will be added to the building. The residential component of the building will have access to Plank Road while the retail component will face Route 9.
MRK owns several office buildings in the area, and Klimkewicz said it was the decline in demand for office space that was the impetus for the company’s decision to build apartments. At one time, the second floor of Crescent Plaza was occupied by office tenants.
lected.
Make-A-Wish Northeast New York is moving its office from Albany to Saratoga Springs this summer.
Its new headquarters, will be in downtown Saratoga, right off Broadway next door to Fat Paulie’s Delicatessen, 92 Congress St. It will serve as the heart of MakeA-Wish Northeast New York’s community of wish families, volunteers, and staff. The organization also welcomes back Kirsten Broschinsky as director of development. Broschinsky brings with her nearly a decade of experience building crucial community and corporate partnerships
“Saratoga, with its cultural heritage, beautiful scenery, and abundant recreational opportunities, provides an ideal stage for creating inspirational wish experiences for children with critical illnesses, their families, and the people that love them,” agency officials said about the move.
“On behalf of all Saratogians, I extend a joyful welcome to Make-A-Wish Northeast New York,” said Saratoga Mayor Ron Kim in a release. “We are thrilled they have chosen Saratoga Springs as their new home to pursue their all-important mission of making dreams come true to children and their families.”
Jamie Hathaway, interim president and CEO of Make-A-Wish Northeast New York, said the opportunities afforded to the agency by Saratoga Springs “will bring magic to wishes as we give families the unforgettable experiences that only Make-A-Wish can provide. We look forward to creating
new partnerships with like-minded organizations, businesses, and donors as our program enters a new era in the Saratoga region.”
Make-A-Wish Northeast New York is a nonprofit organization dedicated to granting the wishes of children with critical illnesses. Since 1987, the chapter has brought hope, strength, and joy to thousands of wish kids across 15 counties in Northeast New York.
Broschinsky’s reappointment signifies the organization’s continued commitment to fulfilling the wishes of children facing critical illnesses, officials said.
“Sometimes a mission embeds itself right into your soul, and that’s what the mission of Make-A-Wish has done for me,” said Broschinsky. “I’m excited to be back with the wonderful families, volunteers, supporters, and community that make up Make-A-Wish Northeast New York.”
She will lead Make-A-Wish Northeast New York’s efforts in building and nurturing relationships with community and corporate partners, as well as working closely with donors to generate vital support for its wish-granting initiatives.
“I am happy to welcome Kirsten Broschinsky back to Make-A-Wish Northeast New York,” said Hathaway. “Just as she has done for nearly a decade, Kirsten’s exceptional ability to call on her deep-rooted connections in the Capital Region and engage with donors will undoubtedly enhance our ability to grant life-changing wishes to children facing critical illnesses.”
“The medical market is very strong, but the demand for general office space has been in decline for the past four to five years, and we found that it was becoming more difficult to keep those spaces occupied long term. So, we looked at alternatives, and one of them was to convert that space into apartments. It just made sense,” he said.
The company received Planned Development District approval from the town of Halfmoon to construct 60 apartments, 40 garages, two new means of access to the plaza, expansion of the Fred the Butcher business, expansion of Emma Jayne’s Restaurant, and a new commercial building on Route 236. Emma Janye’s has already added a 1,400-square-foot deck to the restaurant.
Phase one of development will include construction of 28 apartments and 35 garages, and work on the project is expected to begin in September.
The architect for Crescent Commons is Ken Syvertsen of Syvertsen Rigosu Architects of Clifton Park, and a general contractor has not yet been se-
The luxury apartments will vary in size from 700 square feet to 1,500 square feet. There will be a variety of floor plans available including one bedrooms, one bedrooms with dens, and two bedrooms. Rents are expected to range from $1,500 to $2,500, and if all goes as plan, the units will be available for occupancy by fall 2024.
“Our market will be empty nesters and young professionals. It will be an upscale facility,” said Klimkewicz.
“It’s going to be a walkable community. You will be able to walk to Fred the Butcher, Emma Jane’s, Rite Aid, the liquor store, the dog groomer, the barber shop. That’s the beauty of it. There’s also new ATM that will be built on the southwest corner during the first phase,” he said.
He said the second phase of the project will include construction of additional apartments.
“The first phase is easier because it’s a framing project, and we are just going up. We will do phase two when the environment is right based on construction costs and interest rates,” Klimkewicz said.
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 15 saratogashowcaseofhomes.com SHOWCASE PROCEEDS BENEFIT:
Saratoga
of
- Belmonte Builders - Degraff-Bloom Custom Builders - Kodiak Construction - R & M Homes - Whitbeck Construction - Witt Construction ... and more to come! OCTOBER 7-8 & OCTOBER 14-15 PARTICIPATING BUILDERS SPONSORSHIPS NOW AVAILABLE!
2023
Showcase
Homes
This is a rendering of what some of Crescent Commons development will look like.
Courtesy MRK Real Property
This space, next door to Fat Paulie’s Delicatessen, 92 Congress St. in Saratoga Springs, will be the new headquarters for Make-A-Wish Northeast New York.
Courtesy Make-A-Wish Northeast New York
Personnel Briefs
Continued From Page 2
StoredTech also appointed Kimberly Frustere to vice president of sales.
Caramella joined StoredTech in December 2022 as finance manager. In his new role, he will be responsible for the entire accounting department consisting of five team members. He will help continue driving StoredTech’s growth while maximizing profits.
Beginning as vice president of finance in June 2021, Roeder played a role in beginning to automate financial and reporting systems and assisted in measures that helped drive overall growth by 19 percent while increasing the bottom line by 86 percent in 2022.
She will play a crucial role in standardizing policies and procedures across the entire organization. She will help ensure the development and implementation of efficient and cost-effective processes, both internal and external.
Frustere will lead and oversee sales teams in the company’s corporate headquarters in Queensbury and offices in Raleigh, N.C.
Before joining StoredTech, Frustere was vice president of sales for iHeartMedia in Latham. She brings over 30 years of experience building and leading successful sales teams that delivered revenue growth by fostering a culture of accountability, commitment, a focus on customer satisfaction, and shared success. She managed and oversaw all advertising sales activities and lead a sales
Cooperative Extension Breaks Ground On New Community STEM And Ag Building
team for iHeartMedia’s Albany market.
She also spent nine years as general sales manager at Media One Group in Jefferson, Ohio. She held various executive management positions during her 15-year career working in the newspaper industry, including nine years as director of advertising at The Saratogian in Saratoga Springs.
cb20 Inc., Saratoga Springs, announced that Matthew Authier has joined the organization as the MSP sales executive.
He will be the frontline client interface of the company, and will be responsible for managed services business development.
After graduating from Merrimack College, Authier completed his MBA from Norwich University with a concentration in organizational behavior.
Authier has been active in the technology solutions channel for four years, previously managed sales operations centers in the LP industry throughout the northeast, and a successful seal business owner.
Cornell Cooperative Extension of Saratoga County has broken ground on a new Community STEM and Agricultural Educational Center at the 4-H Training Center on Middleline Road in Ballston Spa.
The 3,650-square-foot facility will encompass three state-of-the-art classrooms and will increase opportunities for the Saratoga County 4-H program as well as outside youth organizations, officials said. The project has been on the table for over eight years.
“The Program Committee and I saw a need for increased classroom space. We had outgrown the meeting space that we currently have, which is utilized by our 4-H clubs, as well as many other organizations from across the county,” said Greg Stevens, 4-H program leader.
The program looked at many options and landed on expansion via a totally new educational center. The CCE/Saratoga County board of directors gave their approval for the project, and the committee quickly got to work and began to design.
When the pandemic hit, the capital campaign to raise funds for building was put on
DIGITAL MARKETING AGENCY
hold.
“It wasn’t fiscally or socially appropriate to be asking businesses and the community to donate who were struggling themselves for money,” Stevens said.
When the effects from the pandemic slowed down, 4-H and dedicated volunteers reignited the project. Led by fi nancial support from Stewarts and the Dake Family Foundation, Curtis Lumber, the Golub Foundation, the Alfred Z. Solomon Charitable Trust, and others, 4-H has raised nearly $400,000.
Officials said more fundraising is needed to reach their ultimate goal of $500,000.
“We have made fantastic progress, and we appreciate the help to date, but we still need more support,” said Meg Soden, the 4-H Program Committee chair.
People wanting to donate can visit ccesaratoga.org. There are naming opportunities for companies donating to the project.
For more information about the 4-H program or the campaign, call 518-885-8995. The 4-H Youth Development Program is the youth education component of Cornell Cooperative Extension.
Card Catalog
16 • SARATOGA BUSINESS JOURNAL • JUNE 2023
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
* * *
Consu t Now Superior Customer Service YOUR PAYROLL, OUR PRIORITY 518-363-0600 priorityonepayroll com Competitive Rates Tax Filing Direct Deposit Garnishment Services 401(k)/Simple IRA Reporting Workers Comp Pay by Pay WOMAN OWNED, LOCALLY SERVICED
4-H volunteer Paul Laskey, left, and 4-H program leader Greg Stevens pose at the site of the new STEM and Agricultural Educational Center at the 4-H Training Center in Ballston Spa. Courtesy Cornell Cooperative Extension of Saratoga County
Halfmoon Sunoco Sells A Line Of Race Fuels That Power Vintage Autos, ATVs, And More
U.S. Department Of Defense Accredits Malta GlobalFoundries Plant As ‘Trusted Supplier’
The U.S. Department of Defense, through the Defense Microelectronics Activity, Trusted Access Program Office, has accredited GlobalFoundries’ advanced manufacturing facility in Malta as a Category 1A Trusted Supplier with the ability to manufacture secure semiconductors for a range of critical aerospace and defense applications.
The latest milestone in the longstanding partnership between the government and GlobalFoundries, the accreditation was enabled by GlobalFoundries’ ability to meet requirements for having stringent security processes, equipment, and oversight in place to accept and protect sensitive information and manufacture trusted chips in a way that ensures they are secure and uncompromised.
These securely manufactured chips include those manufactured on GlobalFoundries’ most advanced 12nm FinFET technologies, and will be used in DoD systems on land, air, sea, and in space, officials said.
BY PAUL POST
A husband-and-wife business couple has a whole new revenue stream created by simply responding to customers who can’t find the product they need elsewhere.
Halfmoon Sunoco introduced the new line of race fuels in April that power everything from classic vintage automobiles to snowmobiles, ATVs and motocross bikes.
“This was one of those amazing opportunities to show our customers, ‘Hey, we hear you. Let’s figure out if we can do this and how’,” said Marilyn Lupo-Sehgal. “We’re really close with a lot of our customers so whenever there’s a void for some type of service they come to us. Being that we’re Sunoco, we try our best to see how we can utilize our connections and provide what they want.”
She and her husband, Ankit, purchased the store, across from Halfmoon Diner at the corner of Route 9 and Grooms Road, in 2015.
Previously, Sunoco race fuels were sold at a station in Malta. But when Stewart’s Shops took the site over, it stopped offering this type of fuel, creating a void between Queensbury and Albany.
It took the Sehgals about a year to obtain required approvals, including a rigorous review by town officials, and retrofit of their store to offer race fuels, which they buy from a Connecticut supplier and sell in five-gallon containers priced from $90 to $125.
They offer several blends. The most expensive is 116 octane that’s needed for extreme performance such as drag racing and pulling trucks.
By selling in containers, rather than at the pump, customers can take fuel to wherever they plan to use a high-performance vehicle rather than bringing the vehicle to the store.
“It required totally resurveying the store to make sure there’s still handicap access and enough square
footage to sell race fuels along with propane and gasoline,” Marilyn said. “We also had to get a building permit. Even though we just put a cage in front of the store (where race fuel is kept), you also have to have this huge six-foot cylinder block in front to protect it as a barrier. So there’s a lot of licenses and permits that had to be acquired. Through a lot of hard work we were able to get them.”
Albany-Saratoga Speedway is only a few miles away on Route 9, but many race car owners get their fuel directly at the track, she said.
Most demand for Sunoco Race Fuels came from other types of customers.
“So many different types of vehicles need this specialty fuel,” Marilyn said. “There’s some really big vintage car owners in our area.”
On Saturday, June 3, Saratoga Automobile Museum is hosting a special Muscle Cars at the Museum and Collector Car Forum along with a Cadilllac Buick Lawn Show.
“We plan to be there, also,” she said.
The Sehgals have had opportunities to buy other service stations in the area, but have decided to simply keep reinvesting and improving the one they own now. In early May, work began on putting in a brandnew parking lot.
“Once that’s done we’re in talks for having one or two electric charging stations put in because it is important,” Marilyn said. “Sunoco is such a big company, it isn’t blind to the fact that green cars are coming. It’s just a matter knowing when and how to adjust. They have a huge team that’s studying and watching this.”
“Equally important, there’s still a lot of cars out there that use gasoline,” she said. “With spring coming, classic car owners are getting ready to bring them out. We wanted to make sure we had everything out there for the sports cars, motocross and vintage cars.”
Catalog
“The secure manufacturing of semiconductors is critical to safeguarding the confidentiality, integrity, and reliability of the technology that powers our modern world, and nowhere is this more important than aerospace, defense, and critical infrastructure systems,” said Dr. Thomas Caulfield, president and CEO of GlobalFoundries. “We are proud to deepen our relationship with the Defense Department, and to receive DMEA accreditation at our New York manufacturing facility. GlobalFoundries differentiated chip technologies provide optimized performance for critical DoD systems, and we are uniquely positioned by our ability to provide secure semiconductor manufacturing at scale.”
Dr. Nicholas Martin, DMEA director, said the accreditation at the Malta site will enable Defense Microelectronics Activity “to have access to the most advanced ASIC technology node available from a DMEA accredited trusted supplier. Accrediting GlobalFoundries to manufacture our country’s sensitive chips strengthens the domestic microelectronics industrial base and our nation’s efforts to fortify its semiconductor supply chain for national and economic security.
“Trusted supplier accreditation continues to be
The GlobalFoundries facility in Malta is accredited as a Category 1A Trusted Supplier. Courtesy GlobalFoundries
a benchmark in semiconductor assurance and will ensure the DoD has reliable access to a range of securely manufactured chips it needs for its defense systems and is the latest collaboration in the longstanding partnership between the DoD and GlobalFoundries to provide silicon-based semiconductors for defense and aerospace applications.”
In 2022, the Defense Department, through the Manufacturing Capability Expansion and Investment Prioritization (MCEIP) Directorate, entered a $117 million agreement with GF to provide a strategic supply of U.S.-made semiconductors built in Malta on GlobalFoundries’ differentiated 45nm SOI platform.
This accreditation adds to GlobalFoundries’ New York Facility’s compliance with U.S. International Traffic in Arms Regulations (ITAR) and highly restrictive Export Control Classification Numbers under the Export Administration Regulations (EAR).
GlobalFoundries employs approximately 2,500 people in Malta and has invested more than $15 billion in the facility.
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 17 Professional office space available on the busy West Ave corridor. This well maintained building features a private parking lot, heated sidewalks and elevator. Suite 304 is located on the third floor and offers a flexible1000 SF with reception, open work area and 2 private offices (1 is large enough to be a conference room). Features great natural light, exposed ductwork, neutral carpet and wood laminate floors. All inclusive rent. COMMERCIAL FORLEASE 120 West Ave. Suite 304 | Saratoga Springs, NY $2,500 / Month Highly visible medical building within ½ mile of Saratoga Hospital. 300 car private parking with covered patient drop off. Common areas within the building have been updated and include new flooring, wall coverings and lighting. Suite 315 is located on the third floor and has 2390 SF. Space is light and bright with reception/waiting area, exam rooms with sinks, private offices and plenty of storage. Current layout available in docs. Landlord will provide Tenant improvement allowance. Lease + CAM and utilities. 1 West Ave. Suite 315 | Saratoga Springs, NY $15.95/SF Gerard Wise | 518.2652420 | gwise@roohanrealty.com FORLEASE Amy Sutton | 518.527.3564 | alsuttonone@gmail.com
Halfmoon Sunoco on Route 9 offers race fuels, which they buy from a Connecticut supplier and sell in five-gallon containers priced from $90 to $125.
Courtesy Halfmoon Sunoco
Card
.03¢ B/W Copies .25¢ Color Copies Everyday Low Prices NO Suprises 12 Fire Road Clifton Park, NY 12065 PrintGraphicsShop.com printproduction@aol.com 518-371-4649 Fax 518-371-1554 Full Service Print, Copy & Direct Mailing Center
Ballston Spa Restaurant, 42 Fusion, Offers Unexpected Dishes Along With The Classics
BY SUSAN ELISE CAMPBELL
A new eatery downtown Ballston Spa is inventing fresh ways to satisfy the palates of a variety of customers, whether their tastes are more traditional or more adventurous.
It’s called 42 Fusion, and owners Alicia Halse and Tino Lopez soft-launched their concept restaurant at 42 Front St. in May.
“When people hear the word ‘fusion’ they usually think about Asian cuisine,” said Halse. “But we are blending the flavors and spices of Mexico with classic Italian ingredients.”
Halse and Lopez became family friends in recent years. The first time Lopez’s daughter told Halse about her father’s Mexican lasagna, she thought, “No way, I love my ricotta,” she said.
But the oaxaca cheese with chorizo sausage —along with traditional meat and mozzarella — formed a flavor profile that Halse said was better than any lasagna she had tasted before.
Now the dish is a customer favorite at the restaurant, the first such enterprise for Halse and Lopez.
Lopez moved from Mexico in 2006 and has cooked at a number of restaurants in Saratoga. Halse, a Saratogian, also worked at several area restaurants. Halse and Lopez were on staff together at Three Vines Bistro.
“I always dreamed of opening my own kitchen,” the chef said.
They found the opportunity at 42 Front St., formerly a Mexican restaurant that had more of a café feel. The owners are taking their time renovating to make the space more upscale. Halse said they have kept the bar and are awaiting their liquor license.
For lunchtime, Halse said the atmosphere at 42 Fusion could be described as family oriented. For the dinner crowd, she said “it’s a good place for date night, romantic, where customers can sit and relax.”
“Getting to know our customers and connecting with them is all we want to do,” she said. “Ballston Spa is a lovely town, lower key and slower paced than Saratoga Springs. It is a smaller
community and very friendly.”
Lopez is head chef and his brother is working with him in the kitchen, while Halse operates the front of the house.
“It took six months to pull the restaurant together and we are taking our time working on the menu,” Halse said. “We want to make sure our customers like it.”
Fusion dishes include such Italian favorites as calamari, but with jalapeño peppers and ancho chili aioli in place of marinara sauce. There are also frutti de mare with roasted serrano tomato sauce and seared cod served over risotto with a spicy qcapulco citrus topping.
Not every dish mixes the cuisine of two countries, Lopez said, but “are authentic to themselves.” The chef prepares more traditional appetizers and entrées such as filet mignon and chicken Milanese as well as some raw fish dishes.
If hungry for beef tacos, Lopez uses tenderloin tips instead of the usual chopped meat, he said. Customers choose from five different Taco fillings.
The chef said he is simultaneously building a menu for a second restaurant. “This is our first restaurant, but in the future there will be one more,” said Lopez.
42 Fusion is open seven days a week from 10:30 a.m. until 9:30 p.m. Learn more at 42fusion.com
New YMCA
Continued From Page 1
include a new Youth Adventure Center, which will be an indoor play space with a horse racing theme. Parents may use the space for supervised play for children six weeks to 10 years, enabling more families to take advantage of the YMCA.
Officials said the idea to expand its services through a capital campaign developed last year, when the Saratoga Regional Y and the Saratoga Senior Center partnered up for the project’s fi rst phase. The Senior Center, in need of a larger space to provide for its ever-growing senior population, will move onto the Saratoga Springs YMCA’s West Avenue campus in a new 14,500-square-foot home. A new shared intergenerational lobby will connect the Y and the Senior Center, creating a central meeting space for active older adults to easily access the valuable resources that both nonprofits offer.
The lobby area will also be an integral way to connect all generations, from infant to elder, that the YMCA serves daily, officials said.
To begin the project, $3 million was donated last year by Bill and Susan Dake and Stewart’s Shops.
Also, the Charles R. Wood Foundation made a matching grant of $300,000 to support this endeavor. Th is grant’s purpose is to encourage local community members to support of the capital project. As of May, the Saratoga Regional Y had raised 76 percent of its $8.9 million goal. The YMCA is asking the community to consider donating toward the remaining $2 million.
Those interested can contact Scott Clark, CEO, at (518) 583-9622, ext. 106, or at scott. clark@srymca.org, or visit srymca.org/main/ capital-campaign/ to learn more.
18 • SARATOGA BUSINESS JOURNAL • JUNE 2023 ORDER ONLINE FOR LOCAL DELIVERY & PICK-UP! BROWSE OVER 8,000 PRODUCTS ON PURDYSWINE.COM (518) 584-5400 70 CONGRESS PLAZA, SARATOGA ONE BLOCK OFF BROADWAY
A new restaurant in downtown Ballston Spa is 42 Fusion, located at 42 Front St. ©2023 Saratoga Photographer.com
Southern Adirondack Realtors Names Sarah Wisdorf As Its Interim Executive/CEO
Southern Adirondack Realtors announced the appointment of Sarah Wisdorf as the interim association executive/CEO.
With experience in senior management positions and leadership skills, Wisdorf is wellsuited to guide SAR during this transition period, the organization said.
As interim CEO, Wisdorf will oversee the daily operations of SAR, focusing on fi nancial and legal oversight, public relations, and compliance. She will be responsible for executing the organization's strategic plan, ensuring the smooth functioning of the association, and fostering growth and development within the real estate industry in the Southern Adirondack region.
SAR President-Elect Jessica Sherry, who also served as the chair of the Search Committee, said Wisdorf "brings a wealth of knowledge and expertise to SAR. Her strategic thinking, strong leadership skills, and dedication to our industry make her an ideal fit for the interim CEO role. We are confident that under Sarah's guidance, SAR will continue to thrive and provide exceptional support to our members."
"We are thrilled to welcome Sarah to our team," said SAR President Eden Whitaker. "Her track record of success and her commitment to excellence make her an outstanding choice for this critical role. We believe her leadership will drive SAR forward and help us achieve our goals of serving our members and promoting the real estate profession."
Wisdorf brings decades of real estate industry experience in senior management positions and is a Realtor Association Certified Executive (RCE). She holds bachelor and master’s degrees in business administration, and has a strong background in staff management, membership growth, and community outreach.
"I am excited and grateful to be joining the
Southern Adirondack Realtors Inc. Team," said Wisdorf. "I am looking forward to helping SAR during this transition period and my hope is to minimize member impacts, foster growth within this great organization and make sure SAR continues to be a trusted resource for the real estate community in the Southern Adirondack region. I hope to meet many of the SAR members and can't wait to start this journey together."
SAR promotes and protects private property rights for local real estate consumers while enhancing the careers of its members through education, advocacy, and professional development. SAR represents hundreds of real estate professionals, including industry and affi liate members, in Warren and northern Washington and Saratoga counties.
SPAC Continued From Page 1
from COVID.
The reserves will be used to help SPAC navigate the challenging 2023 season ahead, officials said.
The transformation at SPAC is evident in programming initiatives, said Chris Shiley, vice president of artistic planning. In addition to sustaining summer residencies with companies like the New York City Ballet, The Philadelphia Orchestra and Chamber Music Society of Lincoln Center and hosting the 46th Freihofer’s Saratoga Jazz Festival, “the depth and scope of SPAC programming has exploded,” said Shiley.
“SPAC continues to honor its unique history and cultural roots, while simultaneously finding new and innovative ways to broaden our artistic scope and connect our community,” said Shiley. “The 2023 summer season will span three months, with 28 performances, 24 debuts and 11 premieres, continuing our commitment to evolving and expanding our programming. Anchored by our theme ‘EARTH,’ we will pay homage to our unique position in the incomparably beautiful Spa State Park, as we explore, through the arts, the connections between people and planet.”
In addition to offerings from resident companies, the season includes LiteraryArts@SPAC, presenting insightful conversations with renowned authors, thinkers, and poets; CulinaryArts@SPAC, offering culinary experiences with an emphasis on sustainability, community, and socially conscious cultivation and consumption; and VisualArts@SPAC, with works of art coming alive in various locations
throughout the SPAC campus and via collaborations in the Capital Region with community and cultural partners.
Shiley announced dates for SPAC residencies in 2024: The New York City Ballet will return to SPAC July 9-13, 2024 and The Philadelphia Orchestra residency will take place July 31-Aug. 17.
Sobol outlined key improvements at the SPAC facilities. Last year, with partners at Live Nation, SPAC began the crucial renovation of the amphitheater backstage—which had still been in its original state from 1966—making the backstage a modern, comfortable and inviting place for the artists appearing at SPAC.
Also, the performer’s road, also from 1966 – and travelled by patrons, artists and numerous vehicles of all sizes - has been widened, regraded, and repaved.
MLB Construction is handling all the improvement work.
After extensive renovations, done in collaboration with New York State Parks, the Spa Little Theater is now home to a year-round schedule of concerts, presenting 25 events and welcoming more than 8,000 guests to what Sobol described as a “jewel of a venue.”
As part of SPAC’s mission to give equitable access to the arts, SPAC expanded its Classical Kids program, which reaches about 12,000 students and provides two free tickets per participating family. SPAC also continues its Summer Nights at SPAC, which provides free transportation, meals, and amphitheater seating to hundreds of children and family members at select performances during the summer season.
The board also welcomed Keeley Ardman DeSalvo, Sharyn Hiter Neble, Chet Opalka, Dr. Jeffrey Ridha, and Sujata N. Chaudhry as new members.
For Sale - $2,350,000
Union Square - 48,000 SF restored mixed use building with 85 parking spaces. Home to multiple businesses and unfinished space with approvals for 6 apartments to be built. A must see!
JoAnn Potrzuski Cassidy Lic. Assoc. RE Broker c: 518.470.3281
Valerie M.
SARATOGA BUSINESS JOURNAL • JUNE 2023 • 19
Beautiful safe haven that offers a peaceful and private oasis set on 21+ treed acres complete with walking trails, orchards and gardens only minutes from world class dining and all the amenities that Saratoga Springs has to offer. A meticulous renovation, guided by renowned architect Jeff DeGraw, upgraded every inch of this contemporary French-style chateau and no expense was spared. The latest home designs and technological upgrades are too numerous to list. Professionally decorated and move-in-ready, this 5-bedroom 6-bath home has floor-to-ceiling windows allowing a burst of sunlight to showcase the spacious luxury on all three floors. This one-of-a-kind hilltop retreat provides sweeping views of the area that are complimented by stunning sunrises and sunsets.
100 Nat Hill Road | Greenfield Center, NY $3,499,000 Kate R Naughton, Associate Real Estate Broker 518.441.8527 |
katernaughton@gmail.com
JulieCoRealty.com | o: 518.350.7653
9-15 Broad Street, Glens Falls
Napoli Lic. RE Salesperson c: 518.248.4191
Sarah Wisdorf, Southern Adirondack Realtors interim executive/CEO.
More To Read . . . More Leads For You. SARATOGA BUSINESS JOURNAL (518) 581-0600
Courtesy Southern Adirondack Realtors
20 • SARATOGA BUSINESS JOURNAL • JUNE 2023 AdirondackTrust.com LIFE IS COMPLICATED. YOUR MORTGAGE SHOULDN’T BE. We’ve been helping our customers navigate the financial complexities of life for well over a century, creating home loan solutions personalized to you and the needs of your growing family. We listen and seek answers to your challenges. We also offer an online application* to save you time. Since we manage all of our mortgages right here, we’re available when you need us. 473 Broadway Saratoga Springs, NY 12866 (518) 584-5844 NMLS #645688 Member FDIC * Credit approval is required. ATC MoverUppers Mortgage Ad SBJ GFBJ 10 25x7 875 2022 indd 1 ATC_MoverUppers Ad_SBJ_GFBJ_10.25x7.875_2022.indd 1 2/23/2022 3:34:52 PM RELATIONSHIPS MATTER. One West Avenue, Suite 205 Saratoga Springs, NY 12866 (518) 583-1234 www uhy-us com Audit & Assurance Business Valuation Estate Planning Tax Planning & Compliance Transaction Services