By Marty Vanags, CEcD

In 2017, Saratoga County continued to be one of the fastest-growing counties in New York state, and for good reason. With talented people, great companies, and a vibrant quality of life, we possess all the attributes that make our community a coveted destination to live, work, and recreate.

Our future is bright but it is important that we continue to look forward and not rest on our laurels. The public and private sectors working together to plan for long-term growth, invest in infrastructure, and lay the foundation for future growth is key to maintaining our economic prosperity today and long into the future.

In 2017, the economy in Saratoga County was strong and based on the strength of the national economy, low unemployment, low inflation, high growth, high stock prices, and high confidence, we can expect the economy to hit the ground running in 2018. We are fortunate to have a strong, diversified manufacturing sector, and one of the most advanced semiconductor manufacturers in the world,  GlobalFoundries, right in our back yard.

Since the invention of the integrated circuit, the semiconductor industry served as a driver, enabler and indicator of technological progress. Developments in the semiconductor industry determine the way we work, learn, communicate, and entertain ourselves. It enables our transportation, healthcare, and how we respond to our environment. Growth in this industry is being driven by our use of devices like smartphones, tablets, the vast array of devises called the “Internet of Things” or IoT, throughout our home, office, and vehicle.

By Teddy Foster

The year 2018 promises to be a year of transformation for Universal Preservation Hall and, we believe, for downtown Saratoga Springs.

Since aligning with Proctors Theatre in Schenectady in 2015, we have been driving toward a major renovation of the nearly 150-year-old hall, which was built in 1871.

That time is now. We have closed the doors at UPH and are now ensconced in temporary offices in Franklin Square. Not to worry, our friends from Universal Baptist Church are able to hold their services in the office suite, so their worship will not be interrupted. And we will launch a new public campaign in the spring, accompanied by fun fundraising events at various locations throughout the city and the county during the new year.

But the doors are closed?

Yes, because we’ve finally arrived at the point we’ve been waiting for—construction. Our vision will now be realized. All of the high Victorian gothic beauty of Universal Preservation Hall—from the Tiffany-inspired, stained-glass windows, to the sweeping arc of the great room, to the warm intimacy of the community room—will be maintained. The facility will also become a state-of-the-art, year-round arts venue and meeting place for downtown Saratoga.

We’re grateful for the many friends we’ve made in the past few years as we have been moving towards this goal. Restaurants, hotels, downtown businesses and colleagues in the arts are as excited as we are to take this giant step.

By Janet Besheer

Last year was another record year in real estate throughout the entire Capital Region. The total homes sold in 2017 outpaced the record total in 2016, in spite of a 22 percent drop in inventory.

Home prices rose 3-4 percent over last year. So, what does that mean for 2018?

Equitas Realty is focused on five major real estate trends to watch in 2018: (1) mortgage interest rates; (2) inventory decline; (3) affordability; (4) millennials; (5) Freddie Mac and Fannie Mae reform.

Interest rates have stayed at historically low rates for several years now; the current average is 3.9 percent. The big question is how fast and how far will they rise in 2018?

Most economists agree that we will see an uptick in rates throughout the year. This is due to stronger economic growth, inflationary pressure and monetary policy “normalization.” On average, we are expecting several increases in the coming year and interest rates to rise modestly up to 4.4 to 5 percent. Now is still a great time to buy/sell real estate.

By Todd Garafano

They say it takes a village. This is never more true when it comes to building a successful tourist destination.

Each year, the Convention and Tourism Bureau, Chamber of Commerce, City Center Authority, Downtown Business Association and many other community organizations work tirelessly to promote and market Saratoga Springs and Saratoga County as a year-round destination for tourism, meetings, conventions, sports tournaments, weddings, special events and more.

Each organization has different funding, but the common thread among all of us is membership. It takes members of our community to volunteer their time and expertise to serve on our boards of directors and committees.

It takes members to create new ideas to attract more visitors and it takes members to commit dollars to help offset the cost of doing this work; to generate revenue for local businesses; to create and support the 9,000-plus jobs within the touriåsm industry; and to generate tax revenue to pay for municipal services to keep our city and county clean, safe and attractive to visitors.

2017 was a successful year, not only due to the efforts of what I call the best staff in the business, but also because of the engagement and support of our members.