Saratoga Business Journal

Cooperstown Distillery Moving Ahead With Plans To Open A Saratoga Shop On Broadway

July 16, 2020July 16, 2020

This storefront at 453 Broadway, that used to be home to a Bruegger’s Bagels shop, will become the site of a Cooperstown Distillery outlet that will sell its crafted artisanal spirits and some food.

By Jill Nagy
Work is ongoing to transform the former Bruegger’s Bagels shop at 453 Broadway into a Cooperstown Distillery tavern, bar, tasting room, and retail outlet.
The original distillery in Cooperstown will continue to produce vodka, gin, bourbon, rye whiskey and rum.
Owner Gene Mara visualizes several deliveries a week from the distillery to the Saratoga tavern. All the liquors are produced from grains grown at Inverness Farms, a small farm in Canajoharie.
The Saratoga tavern will be the second satellite serving Cooperstown Distillery products. The first one is in downtown Cooperstown. The original distillery has been in business for seven and a half years.
A small wooden bar, constructed in Morocco and purchased from a local attorney, is waiting to be installed as the tasting bar, Mara said.

Continued COVID-19 Concerns Cancels Americade; Event Hopes To Return In 2021

July 16, 2020July 16, 2020

Continued health and safety concerns resulted in cancellation of Americade.
Courtesy Americade

Americade, the motorcycle touring rally and a Lake George tradition of nearly 40 years, will not take place this summer, Americade organizer Christian Dutcher announced.
The event was originally moved from June to July because of the COVID-19 pandemic. But it has now been canceled. Officials hope it will return next year.
“When we rescheduled Americade to July, I knew that it was a bit of a long shot. Attempting to create a safe event in the face of a global pandemic was a big challenge and would require numerous changes to ensure everyone’s wellbeing,” said Dutcher.
“The odds of it being financially worthwhile were near zero, but we wanted to give it a try for several reasons. We didn’t want to be yet another event that canceled in 2020 (there was already enough depressing news). We knew that all of our partners (vendors and the local community) needed every bit of help we could give them. And we didn’t want to interrupt the 37-year tradition of Americade,” he said.

Despite Building Closures, Senior Centers Provide Food Delivery And Virtual Activities

July 16, 2020July 16, 2020

The Saratoga Senior Center has been running virtual programs for members.
©2020 Saratoga Photographer.com

By Susan E. Campbell
The high-risk elderly population has faced greater challenges than most other demographic groups during the coronavirus pandemic. But although their doors are temporarily closed, local senior citizens centers have made sure their members stay safe through outreach and by shifting programs into the digital realm.
The Saratoga Senior Center did one-on-one phone calls to nearly 2,000 seniors who were either active members or who had recently not renewed memberships, according to Lois Celeste, executive director.
“Our first step was reassurance calls, then needs assessment,” Celeste said. “This resulted in a list of several hundred we have been calling daily.”

Business Report: Lower ‘Reliance Rate’ During Retirement

July 16, 2020July 16, 2020

Robert Snell, financial adviser with Edward Jones Financial in Saratoga Springs.

By Robert Snell
If you have decades to go until you retire, you don’t need to panic over volatile financial markets. You have plenty of time to regain lost ground and potentially achieve more growth in your investment portfolio.
But what if you are nearing retirement or already retired? After all, you will probably need to draw on your investments to pay for some of the costs associated with housing, food and the many other expenses you incur in daily life. So, is a down market cause for alarm?
It shouldn’t be. And you can help reduce your stress level by understanding your “reliance rate.” As its name suggests, your reliance rate tells you how much you rely on your portfolio—rather than other sources, such as Social Security or a pension—to meet your income needs during retirement.
Your reliance rate can influence your emotions and investment behavior. A higher reliance rate may tempt you to make emotional decisions during a market decline, since your portfolio is supplying more of your needs.

‘Share A Step For Seniors’ Event Raises A Record Amount In Excess Of $30,000

July 16, 2020July 16, 2020

The Wesley Foundation, the philanthropic arm of The Wesley Community, said its recent Share A Step For Seniors virtual fundraiser raised more than $30,000 to support local seniors served by The Wesley Community.
That figure is a record for the event since its inception in 2018, officials said.
Donations were received via the virtual fundraiser, which invited community members to work toward a fitness-oriented goal while raising funds. The money will support continued efforts to serve residents and staff during the coronavirus global health pandemic.
The Wesley Community is a nonprofit senior living campus in Saratoga Springs with more than 700 residents.

U.S. Census Bureau: Age Group Of 65 And Older Exhibits Rapid Growth Since 2010

July 16, 2020July 16, 2020

The U.S. Census Bureau released estimates showing the nation’s 65-and-older population has grown rapidly since 2010, driven by the aging of Baby Boomers born between 1946 and 1964.
The 65-and-older population grew by over a third (34.2 percent or 13,787,044) during the past decade, and by 3.2 percent (1,688,924) from 2018 to 2019. The growth of this population contributed to an increase in the national median age from 37.2 years in 2010 to 38.4 in 2019, according to the Census Bureau’s 2019 population estimates.
“The first Baby Boomers reached 65 years old in 2011,” said Dr. Luke Rogers, chief of the Census Bureau’s Population Estimates Branch. “Since then, there’s been a rapid increase in the size of the 65-and-older population, which grew by over a third since 2010. No other age group saw such a fast increase. In fact, the under-18 population was smaller in 2019 than it was in 2010, in part due to lower fertility in the United States.”

MLB Construction In Malta Remained Busy Despite Statewide Coronavirus Shutdown

July 16, 2020July 21, 2020

MLB Construction did the renovations at Saratoga Springs City Hall on Broadway after the building was extensively damaged by fire in 2018.
Courtesy MLB

by Lisa Balschunat
The COVID-19 ramifications and restrictions may have delayed commercial construction projects in the region, but Malta-based MLB Construction Services has been busy.
The company recently completed or is nearing completion on five projects in the area, totaling about $56 million.
Saratoga Performing Arts Center (SPAC), located within Saratoga Springs State Park, experienced a makeover on a grand scale when MLB got involved 12 months ago.
“This design-build project was true collaboration at its best,” James Dawsey, company president, said.
It involved demolition of the concession and restroom facilities and construction of concession areas, new restrooms, a VIP area in the new two-story building, room for small indoor performances and an outdoor pavilion.

Renovation, Rebuild Of Thruway Rest Stops Will Start This Year By Investment Group

July 16, 2020July 16, 2020

This is a rendering of what new rest stops along the State Thruway will look like. Courtesy State Thruway Authority

New York’s Thruway rest areas are in line for a major makeover.
The state Thruway Authority board of directors has approved a $450 million, 33-year deal that will require a private consortium to revamp all 27 service plazas along the 570-mile superhighway system in the coming years.
Officials said the upfront costs will not fall on toll payers.
Instead, a consortium, known as Empire State Thruway Partners, will spend $300 million to rebuild 23 rest stops and extensively renovate the remaining four, with construction set to begin next year.
It will also be required to pay the Thruway Authority at least $51 million in rent and invest another $103 million in improving the rest stops over the course of the three-decade-long contract, according to the Thruway Authority.
In exchange, the consortium led by the John Laing Group, a private investment firm, will get to operate the restaurants, shops and facilities at the rest stops for 33 years.

Core Tech’s 140,000 SF Expansion Project At Its Ballston Spa Facility Nearing Completion

July 16, 2020July 16, 2020

By Jennifer Farnsworth
Core Tech Industrial Corp. is looking to wrap up the construction of a $1.7 million expansion of its Ballston facility factory by late summer.
The just over 140,000 square foot project is a reflection of the growing demand for equipment at power plants in both the Capital Region and across the country, according to the company, located at 2 McCrea Hill Road.
Owner George Hubschmidtt said Core Tech designs and produces mechanical, electrical, and fire suppression equipment for several large manufacturers. Many of those customers, he said, have a strong need for power generation equipment. The demand has not wavered during the pandemic.

Designers Of Office Space Help Safely Get Employees Back Into Their Work Spaces

July 16, 2020July 16, 2020

Lisa Boyle of the Boyle Group advises clients on how to reorganize their work space. ©2020 Saratoga Photographer.com

By Jill Nagy
As business owners prepare to re-open in a changed world, many are turning to office designers for guidance in meeting new requirements for minimizing the spread of COVID-19.
Dorothy Rogers-Bullis and her business drb Business Interiors in Saratoga Springs offers her own office as an example. Several employees are still working remotely. She encourages others to work in the office at alternate times. When clients arrive, they are asked to sign in and out, wear face masks and have their temperatures taken.
“People want to get back to work,” she said. “Some people work really well at home” but, in general, “not a lot of good work gets done at home.”
There are too many distractions. In addition, people working at home miss the connections, collaboration and creativity of a shared workplace.
Lisa Boyle of the Boyle Group in Ballston Spa advises clients on how to reorganize their work space.
For example, in an open office plan with everybody at eye level, desk and tables have to be moved apart, she said. Often, barriers are needed. The result is a reduced capacity.