Category Archives: Economic Development

By Christine Graf
A shortage of new, young talent in the workforce is one of the issues the Saratoga Prosperity Partnership deals with, said Shelby Schneider, its new president and CEO.
The economic development organization was established in 2014 to enhance economic growth in Saratoga County.
Schneider, a mother of four who lives in Wilton, earned a degree in management and business administration from Skidmore College. She entered the economic development field in 2000 and spent thirteen years working at Saratoga Economic Development Corporation (SEDC). During her early years at SEDC, she served as the Empire Zone Coordinator. The Empire Zone tax incentive program allowed qualified businesses to take advantage of a variety of tax credits.
“I oversaw the New York state tax incentive program and administered it on behalf of county,” she said.

By Kevin Hedley
I first became involved in the Saratoga County Chamber of Commerce at the invitation or more accurately the insistence of Jessica Petraccione of First National Bank of Scotia. The Chamber had just formed its Twin Bridges Council and Jessica was the first person to lead it.
Forming the Twin Bridges Council was part of a larger effort to get more business owners with operations in Clifton Park, Halfmoon, and Mechanicville more involved in the Saratoga County Chamber.
Soon after getting involved in the Twin Bridges Council, I was approached about serving on the Saratoga County Chamber’s board of directors and a year or so later became the organization’s treasurer.
And here we are in 2020 and I’m the volunteer chair of the board of directors of the Saratoga County Chamber of Commerce.
One of the reasons the Saratoga County Chamber of Commerce is still thriving as it enters its 102nd year of operation is the fact that it has had tremendous volunteer and professional staff leadership.

By Greg Hitchcock
Saratoga County has taken its place as an economic powerhouse trending to continue growing into 2019, with nearby Warren and Washington counties benefiting from this growth.
According to data from the Bureau of Economic Analysis, U.S. Department of Commerce, 17 counties in New York state had employment gains from June 2017 to June 2018 with Saratoga County having the largest gain up 2.7 percent.
“All three counties have grown their private sector over the last five years with GlobalFoundries kicking off this growth,” said Andrew Kennedy, president and chief executive officer of the Center for Economic Growth, an economic and business development agency serving as a primary point of contact for businesses interested in growing in or moving to the Capital Region.

By Christine Graf
The Saratoga County Industrial Development Agency, a public benefit corporation created to encourage the construction and expansion of industrial and commercial facilities, is a key cog in the economic development efforts in Saratoga County.
Since beginning operations in 1980, the IDA has approved financing arrangements for 119 projects.
“Those are the ones that have been approved and assisted financially. There have been a number that have not even been considered,” said IDA Administrator Michael Valentine. “There is an application process, a review process and certain standards that somebody coming in needing assistance has to go through.”

New York state is putting $23.6 million in infrastructure funding to support safety enhancements, modernization of facilities, operational improvements and local business development at 31 airports statewide.
These projects are funded through the state Aviation Capital Grant Program initiative and complement the Upstate Airport Economic Development and Revitalization Competition, which provided $200 million to modernize airports across Upstate.
“New York’s airports represent the front door to our local communities and are critical to facilitating tourism and business development,” Gov. Andrew Cuomo said. “A world-class airport is crucial to regional economic growth, and by investing in the modernization of our local airports we are creating vibrant communities where people want to live, work and play.”

Following through on a key element of its 2016  Advance Saratoga priorities, Saratoga Economic Development Corporation (SEDC) has formed an Advance Saratoga Startup Advisory Team to mentor early-stage businesses.

Officials said it supports SEDC’s mission to promote, retain and grow talent, investment and job opportunities.

Local entrepreneur networks like Sharatoga Tech Talks and similar regional tech executive meet ups revealed a desire among Saratoga area entrepreneurs for access to professional expertise to help overcome challenges to business growth, said Dennis Brobston, president of SEDC.

Clarkson University’s Shipley Center for Innovation operates six business incubators and has agreed to provide support services to new entrepreneurs and early-stage project teams and companies for the Advance Saratoga startup platform.

“Talent begets talent,” said Brobston. “Inspiring, mentoring and accelerating growth companies to do business here will be enhanced by facilitating access to the world-class talent and reach of our member investors and other area experts.”