Category Archives: Business News

Feigenbaum Cleaners Moves Its Saratoga Store From Railroad Place To 18 Congress Street

November 1, 2017November 13, 2017

Feigenbaum Cleaners has moved to a new downtown Saratoga Springs store at 18 Congress St. The 100-year-old company has other locations in Queensbury, Glens Falls and Wilton. ©2017 Saratoga Photographer.com

By Liz Witbeck

Feigenbaum Cleaners has moved to a new location. Its downtown Saratoga Springs store is now at 18 Congress St., on the corner of Congress and Hamilton Streets.

Previously they were located on Railroad Place, in between Price Chopper and Bowtie Cinemas. This proved to be a challenging site for the store, because there was little parking available, according to ownership.

“Convenience is the number one thing for our customers,” said Todd Feigenbaum, president of the company.

The new location will offer much more parking for customers.

“There is plenty of parking,” he said. “People can park right at the door and come in. This is much easier for people who have their hands full of clothes.”

It is located near businesses such as the Colwell Computers LLC, the Saratoga Visitors Center, Wendy’s, FedEx and CVS.

A grand opening ceremony was held in early October.

The company believes that this relocation will be helpful for their customers, and allow them to create a more pleasurable, customer service friendly experience.

Blackmer Building On Clinton Avenue Sold To Rod And Amy Sutton; No Major Changes Eyed

November 1, 2017November 2, 2017

This building at 28 Clinton Ave. in Saratoga Springs was sold to the Suttons.
©2017 Saratoga Photographer.com

By Susan E. Campbell

Rod and Amy Sutton have purchased the two-story, 34,000-square-foot Blackmer Building at 28 Clinton Ave. In Saratoga Springs.

Sale price was $2.54 million, according to a deed recorded Oct. 6 in the Saratoga County Clerk’s office.

Tenants include the Saratoga County Chamber of Commerce and Clements Insurance Brokers Inc.

Sutton is president of Sutton and Tarantino Insurance Agency Inc., which was sold a month ago to Adirondack Trust Co. under a succession plan that would assure the continuation of jobs for the firm’s employees.

As a native Saratogian, Sutton said he believes in the economic welfare of the community.

“I have seen and helped this community to grow, so we are reinvesting in it,“ he said.

Greenfield Manufacturing Expansion Plans Grow; Company Plans To Invest $2.5 Million

November 1, 2017November 2, 2017

Greenfield Manufacturing Inc. (GMI) is preparing to nearly double its 2016 expansion, investing another $2.5 million to add product innovation, production and materials warehouse and packaging facilities to its Saratoga Springs-based chemical manufacturing and services facility, according to the Saratoga Economic Development Corp. (SEDC).

The investment will retain its 13 employees and add seven additional full-time employees, according to SEDC, which has been leading the company’s request for local incentives of nearly $459,000.

“It’s always great seeing entrepreneurs grow their business, and it is especially satisfying to support GMI’s continued growth in Saratoga,” said Dennis Brobston, SEDC president.

“This is a prime example of why we focus first on homegrown small business because as they continue to innovate, they are more likely to expand here and our communities retain their talent, investments and job creation. We will continue promoting the area to attract companies relocating here, but as we noted in launching Spark Saratoga, boosting area entrepreneurs to grow business is a far more efficient path to grow future opportunities and investments,” he said.

GMI was established in February, 1998 in Corinth as a competitive custom chemical manufacturer of specialty lubricants and additives that improve materials performance. It continues serve major clients like Dow Chemical, Momentive Performance Materials, General Electric and Castrol.

After Equifax, State Proposes Law To Make Credit Agencies Meet Cybersecurity Standard

November 1, 2017November 2, 2017

In response to the recent cyberattack that exposed the personal private data of nearly 150 million consumers nationwide, the state Department of Financial Services has proposed a regulation making credit-reporting agencies have to register with New York for the first time and comply with this state’s first-in-the-nation cybersecurity standard.

The annual reporting obligation also provides the DFS superintendent with the authority to deny and potentially revoke a consumer credit reporting agency’s authorization to do business with New York’s regulated financial institutions and consumers if the agency is found to be out of compliance with certain prohibited practices, including engaging in unfair, deceptive or predatory practices.

“A person’s credit history affects virtually every part of their lives and we will not sit idle by while New Yorkers remain unprotected from cyberattacks due to lax security,” Gov. Andrew Cuomo said. “Oversight of credit reporting agencies will help ensure that personal information is less vulnerable to cyberattacks and other nefarious acts in this rapidly changing digital world. The Equifax breach was a wake-up call and with this action New York is raising the bar for consumer protections that we hope will be replicated across the nation.”

Under the proposed regulation, all consumer credit reporting agencies that operate in New York must register annually with DFS beginning on or before Feb. 1, 2018 and by Feb. 1 of each successive year for the calendar year thereafter. The registration form must include an agency’s officers or directors who will be responsible for compliance with the financial services, banking, and insurance laws, and regulations.

Saratoga National Bank Opens Branch In Schenectady, Its 10th Location In The Region

November 1, 2017November 2, 2017

Officials of Saratoga National Bank cut a ribbon at the opening of its branch at 251 State St. in Schenectady. The new office is its first in Schenectady County.
©2017 Saratoga Photographer.com

Saratoga National Bank and Trust Co. recently opened its 10th location, a new office in the city of Schenectady.

The branch, which is situated in a newly remodeled suite at 251 State St., offers a full range of financial services that are easily accessible with off-street parking available. It is also the only financial institution on State Street downtown with both a drive-up teller and ATM, bank officials said.

This marks the fourth time in five years that Saratoga National Bank has opened a new location, and it is the bank’s first office in Schenectady County.

Schenectady Mayor Gary McCarthy helped commemorate the opening by attending the ribbon cutting ceremony and state Assemblyman Angelo Santabarbara presented the bank with a Certificate of Merit.

Regal Barbershop In Saratoga Springs Offers Grooming Services In An Upscale Setting

November 1, 2017November 2, 2017

George Jacob, right, Sam Jacob, left, and Francois Jacob provide haircuts and other grooming services at Regal Barbershop at 35 Van Dam St. in Saratoga Springs. ©2017 Saratoga Photographer.com

It’s a family affair at Regal Barbershop in Saratoga Springs, where the Jacob family is busy at work, making their mark in the business of grooming.

The business at 35 Van Dam St. is jointly owned by three brothers—Joseph Jacob, an attorney with an office in Albany, long with George and Sam Jacob, who both are master barbers.

“George and Sam learned the trade at my father’s barbershop back when they were teens, in Aleppo, Syria,” said Joseph Jacob.

He said George, Sam and their families, immigrated to the United States in October of 2014, after the war conflict had started in Syria. Jacob said they settled initially in New Jersey, and both worked in barber shops in Manhattan and Nyack, N.Y. During this time, they had their eye on any possible opportunities in the Spa City.

“We have been searching for a vacant retail shop in Saratoga Springs, for long time, and we finally found the ideal location,” said Jacob.

Parent Co. Of Upstate Transit Of Saratoga Wins Award From International Organization

November 1, 2017November 2, 2017

The International Motorcoach Group (IMG) named Brown Coach of Amsterdam as its 2017 Operator of the Year. IMG unveiled this motorcoach with a collage depicting area travel images.
Courtesy Brown Coach

The International Motorcoach Group (IMG) named Brown Coach of Amsterdam as its 2017 Operator of the Year at the Strategic Alliance and Marketing Meeting’s awards banquet sponsored by Prevost and held at its Nashville, Tenn., service center.

Brown Coach is thee parent company of Upstate Transit of Saratoga LLC.

In December 2005, Upstate Transit of Saratoga was purchased and became part of the Brown family of transportation. Upstate Transit of Saratoga LLC, with over 20 years of tour planning experience, offers chartered bus service, tours and line service in the Capital/Saratoga region.

The award was accepted by Stephen Brown, vice president of Brown Coach, on behalf of his brother Robert, their families, and the team at Brown Coach.

Each year, IMG recognizes one of its own for the honor. The award is based on a criteria of operational excellence, safety performance, best practices, community and motorcoach industry involvement and engagement within IMG.

“Over 17 years ago, we were invited to become a shareholder company of IMG,” said Brown. “Our involvement in the IMG organization has helped Brown Coach achieve many milestones, raise the bar in service excellence, and grow to where we are today. I am truly honored to receive this award.”

Representatives Of High-Tech Firms To Speak At Nov. 16 Prosperity Summit At City Center

November 1, 2017November 2, 2017

A leader of an influential semiconductor trade association will deliver a keynote address at the second annual Saratoga County Prosperity Summit to be held Thursday, Nov. 16 at the Saratoga Springs City Center.

With a theme of “Exploring the Next Wave of Opportunity for Saratoga County,” the event will also feature comments from CEOs of top technology firms with a presence and impact in the region.

Jodi Shelton, co-founder, president and board director of the Global Semiconductor Alliance (GSA) will speak to attendees about the significant impact and importance of the region’s technology sector, led by the continued growth of GlobalFoundries and its Fab 8 advanced manufacturing facility in Malta.

She will also discuss emerging trends in the worldwide semiconductor market, and highlight opportunities for businesses in Tech Valley and across the Northeast to capitalize on the integration of computer chip technology in nearly every industry.

“We are delighted to welcome Jodi Shelton, a recognized and respected leader in the global semiconductor industry,” said Marty Vanags, president of the Saratoga County Prosperity Partnership. “Her perspective will provide vital insight that is perfectly aligned with our focus: ensuring that businesses and the regional economy are well prepared for the next wave of semiconductor-driven economic opportunity and growth.”

Business Report: Educational Assistance Plans

November 1, 2017November 2, 2017

Frank Mayer, a member of Bond Schoeneck & King, deals with tax-related matters. Courtesy Bond Schoeneck & King

By Frank Mayer

Many human resources professionals are struggling to fill open positions these days. At the same time, the tuition cost for individuals who are pursuing undergraduate or graduate degrees is daunting. One solution that may be a “win-win” for employers and employees is an educational assistance plan.

An educational assistance plan involves the employer agreeing to pay on behalf of, or reimburse, the employee for tuition costs when the employee is taking certain qualifying courses. If structured properly, employer-paid educational expenses may be excluded from the gross income of an employee if provided to the employee under an Internal Revenue Code, Section 127 educational assistance plan, commonly referred to as a “127 Plan,” or if the expenses qualify as a working condition fringe benefit to the employee, under Code Section 132.

This type of educational assistance is a much greater benefit to the employee, and a better retention tool, if the employee doesn’t have to pay income tax on the amount of assistance they receive.

Section 127 Plan. A properly drafted 127 Plan provides an exclusion of up to $5,250 annually from an employee’s gross income for the payment by an employer of certain educational expenses incurred by or on behalf of an employee. The amount excluded from the employee’s gross income includes the cost of tuition, fees, books, supplies and certain equipment.

While the excludable coursework does not need to be job related, no exclusion is available for education involving sports, games or hobbies (unless the education involves the business of the employer or is required as part of a degree program). In addition, no exclusion is available for the cost of meals, lodging and transportation or any payment for the cost of tools or supplies that may be retained by the employee after completion of a course. A qualifying 127 Plan must be a separate written plan and must satisfy certain employee nondiscrimination requirements.

Clients Come For Healing But Can Leave Spiritually Uplifted At Ageless Acupuncture

November 1, 2017November 2, 2017

Bridgette Shea is the owner of Ageless Acupuncture in Saratoga Springs which offers acupuncture and various other types of Eastern medicine. ©2017 Saratoga Photographer.com

By Rachel Phillips

After years of working as a yoga instructor, Bridgette Shea, owner of Ageless Acupuncture in Saratoga Springs, felt that it was time for a change.

Though she loved helping people heal physically and spiritually, she wanted to work one-on-one with her clients. Due to her interest in obtaining a deeper understanding of how the body works from an energetic perspective, she said she was drawn to Ayurvedic medicine. However, like yoga, it wasn’t licensed or recognized by the medical community. Opening up an acupuncture clinic afforded her the opportunity to make her aspirations a reality.

Shea’s business has been in Saratoga since 2009. She had been operating out of her home, but has opened a clinic at 2 Franklin Square in Saratoga Springs.

Shea said despite many people’s assumptions, acupuncture isn’t scary.

“Though you may feel the needles, it won’t hurt. If you feel any discomfort, the needles can be removed immediately,” she said.

Many of her clients come in for stress relief and relaxation.

“The intention behind the clinic is to create a space where people can come in and relax, because relaxing is a big part of the healing process … A lot of people come in the door with very physical complaints, but even they are surprised when leaving at how spiritually uplifted they feel.”