Category Archives: Business News

OneJet will offer non-stop flights between Buffalo and Albany beginning Feb.1—a direct link between the Capital Region and New York state’s largest upstate city.

It will operate two times per day at convenient times for business travelers.

“The return of Buffalo-to-Albany air service is a testament to our efforts to revitalize the western New York economy that will only add to the momentum of this region’s renaissance,” Gov. Andrew Cuomo said. “OneJet is a brand new airline to the Queen City, one that caters to people who want to get their business done quickly and go back home to their families. We welcome the expanded service this company will provide and look forward to building upon it even further.”

Flights between Buffalo Niagara International Airport and Albany International Airport will be as follows:

The number of craft beverage manufacturers has grown by 50 percent since the enactment of the Craft New York Act three years ago, according to state officials.

The Craft Act went into effect on Dec. 13, 2014, continuing the state’s support of the growing craft beverage industry. Since then, 340 new craft beverage businesses have opened their doors across the state, officials said.

“This administration has worked hard to cut red tape, lower costs and roll back burdensome regulations for New York’s craft beverage industry – efforts that are clearly paying off in every corner of this great state,” Gov. Andrew Cuomo said. “I’m proud of the continued growth of this sector, which has created jobs, spurred tourism, supported New York farms and led to the creation of top-notch world-renowned products.”

New York state has implemented a series of legislative and policy changes to capitalize on the soaring consumer demand for locally produced craft beverages and to make it easier to open and run a craft manufacturing business, officials said. These improvements include lowering taxes and fees, providing support for research, creating new licenses for farm breweries and cideries, rolling back restrictive regulations, cutting the time it takes to obtain a license in half and overhauling the state’s antiquated Alcoholic Beverage Control law.

The Holiday Inn Saratoga Springs recently completed its $3.5 million renovation project, what is calls a “refresh of accommodations and amenities”

The hotel at 232 Broadway now features a new look popular with business travelers, corporate groups and associations, as well as families and social groups celebrating weddings, milestones and holidays.

“We are proud to have been at the forefront of Saratoga Springs’ revival over 53 years ago, and to remain so today as the city has blossomed to a year-round destination,” said Cindy Hollowood, general manager, who has 36 years of service at the property.

“Our substantial reinvestment shows we are committed to remaining a leading destination in Saratoga Springs well into the 21st century. Beginning with our founding when area residents invested $100 per share to bring the first modern era flag hotel and convention center to Saratoga Springs, through today, we are proud of our legacy of community leadership.

“You could say the Holiday Inn Saratoga Springs was all about crowd funding before crowd-sourcing for startup businesses became cool. We can’t wait for our many returning and new guests to experience our brand new look along with our renowned personal service.”

By Maureen Werther

The Saratoga Springs City Council unanimously approved a 30-year PILOT (payment in lieu of taxes) deal as part of its plans for the re-development of the old Saratoga Diner property on South Broadway, known as “SoBro.”

The incentive plan consists of waivers of various city fees and will support the project’s long-term (50-year) rent restrictions on its planned residential units.

The plan includes incentives of approximately $1.17 million over 30 years on an approximately $30 million investment in the 156,000 square-foot mixed use space and two-tiered parking, as well as waivers of $1,500 per unit recording fees and a waiver of building permit fees.

When completed, the project, which was issued a special use permit this summer by the city Planning Board, will contain 110 affordable one- and two-bedroom apartments- referred to as “workforce housing,” as well as professional and commercial properties. In total, the three-acre property will combine 96,000 square feet of residential space, according to DEW Ventures in Saratoga Springs, doing the project in conjunction with KCG Development of Indianapolis.

By Maureen Werther

Residents who have lived in Saratoga Springs since the mid-1970s will remember that, before it was Cantina or Professor Moriarty’s, the restaurant located at 430 Broadway was Lillian’s.

It opened in 1974 and was named after the famous actress, Lillian Russell, a famous actress and singer of the late 19th and early 20th centuries who made frequent trips to the Spa City during the heyday of her career.

So, it is something of an “organic evolution,” said Cantina owner Jeff Ames, that the very popular Cantina will once again open for business at Lillian’s Restaurant—this time, at its last and longest-occupied location at 408 Broadway.

Lillian’s owner Ray Morris closed the restaurant in December 2015, after selling it to Dan Pickett, CEO of nfrastructure and his wife, Jennifer. The building remained closed following the transaction.

“If it had been any other space that was available, I may not have done it,” said Ames, referring to the deal that closed in November. “I’ve leased Cantina for 10 years and it’s been a great business.”

By Maureen Werther

The Downtowner Hotel on Broadway in Saratoga Springs has been sold and closed in October while its new owners—Lark Hotels, a Massachusetts-based company—completes as-yet-undisclosed renovations and updates to the property.

Lark Hotels founder and CEO Rob Blood chose the Downtowner to add to his company’s growing list of “boutique” properties because it sits squarely in the heart of downtown Saratoga Springs, at 413 Broadway. Blood said that he and his team are excited about their first hotel project in Saratoga. He said the area has been on their radar for a long time and they are thrilled to be part of “what is already such a vibrant community.”

The company paid former owners, husband-and-wife team, Mary Cae and William Asay, $4.55 million for the motel. The sale was financed with a $6.1 million mortgage and construction loan through M&T Bank. Lark Hotels completed the purchase of the property through its real estate holding company, 413 Broadway Holdings Company,LLC, according to documents filed with the Saratoga County Clerk’s office.

The New York State Energy Research and Development Authority (NYSERDA) announced the availability of up to $1.8 million for community campaigns to help residents and businesses install clean heating and cooling systems.

Increasing the use of clean heating and cooling technology will play a major role in achieving the state goal of reducing greenhouse gas emissions 40 percent by 2030, officials said.

Alicia Barton, NYSERDA president and CEO, said, “Clean heating and cooling systems will provide users with energy bill savings, increased comfort levels and health benefits compared to conventional heating and cooling technologies. It’s a win-win for consumers and the environment and is vital to meeting Governor Cuomo’s nation-leading goal to reduce greenhouse gas emissions.”

Officials said the Clean Heating and Cooling Community Campaign initiative will bring together groups of potential customers so they can obtain discounts for air and ground source heat pumps, biomass heating and solar heating through aggregated purchases and a simplified procurement process.

Community campaigns can be proposed by municipalities or community based organizations and will receive up to $150,000 for each campaign, with additional funds available for workforce development ($50,000) and low-to-moderate income engagement ($150,000) strategies. Community campaigns should be in a county, city, borough or region with at least 40,000 residents and are encouraged to include local financial institutions, colleges/universities and local utilities.

The Saratoga County Prosperity Partnership will launch its job-creating Next Wave Center in the Saratoga Technology + Energy Park in Malta.

Officials said it will include an office for the Global Semiconductor Alliance (GSA). The initiative will then expand into multiple sites throughout Saratoga County through creation of the Next Wave Network (NWnet).

The announcement was made during the second annual Saratoga County Prosperity Summit, which attracted more than 150 attendees to the Saratoga City Center.

Prosperity Partnership officials said the NWnet will provide short-term flex space as a landing pad for companies working with GlobalFoundries, and serve as a launch pad for firms to grow business relationships in Saratoga County and the Capital Region. The initial center, at 107 Hermes Road in the STEP Park, will provide 10,500 square feet of space over two floors for companies seeking flexible configurations for office, warehouse, and light manufacturing activities.

The Saratoga Partnership secured the first building by working with the United Group of Companies, which has set aside space for short-term leases—generally from three months to two years—for companies that are just beginning to build business in the marketplace.

Conversations are underway to engage additional real estate developers and landlords to participate in the NWnet, which will be marketed by the Saratoga Partnership to supply chain companies working with GlobalFoundries, among other potential tenants, officials said.