Sixty-seven percent of Upstate New York CEOs say business conditions are getting worse while 29% say they are staying the same and only 4% believe conditions are getting better according to the 17th annual Upstate New York Business Leader Survey from Siena College Research Institute (SCRI) sponsored by the Business Council of New York State, Inc, UHY Advisors, Inc. and HVEDC. Only 18% of CEOs expect the economy to improve in 2024 while 55% see worsening conditions in the next year.

Twenty-nine percent, down from 38% last year and 47% two years ago, predict increasing revenues in 2024 while 21%, down from 26% a year ago and 34% two years ago, anticipate growing profits in the year ahead.

The index of CEO Sentiment, computed by considering all CEOs assessment of both current and future conditions across New York and within their industry sector is down 8 points reaching the lowest point this survey has found since the all-time low in 2008.

Twenty-nine percent of CEOs, down from 33% last year and 44% two years ago, plan to increase the size of their workforce this year, but again this year 80% say that there is not an ample supply of appropriately trained local workers. And for the second consecutive year, 75% are having difficulty recruiting for their open positions. Asked to assess the quality of recent applicants on seven job skills, large majorities of CEOs give negatives grades on each: realistic about compensation (77%), work ethic (73%), initiative (73%), writing skills (69%), professionalism (67%), verbal skills (60%) and technical skills (60%). While 26% describe New York’s workforce as an asset to doing business here, a majority, 51% say the workforce is a detriment to succeeding here in New York.

“Despite increasing consumer sentiment, lessening inflation and recent stock market gains, the CEOs of Upstate New York are decreasingly positive about business conditions and fewer than 1 in 5 expect a rebound this year,” said Siena College Research Institute Director Don Levy. “Troubled by the lack of suitably trained workers and feeling as though neither the federal or state government contribute to their success, CEOs expect a year of lower revenues and profits.”

By Jill Nagy

Wait House, an emergency and crisis center for families and youth, is celebrating 20 years in the Glens Falls community with a ribbon cutting for a new Family Opportunities Center and a party.

The agency opened the new center, at 333 Glen Street, near Monument Square, about two months ago. 

“We are still trying to settle in,” said Wait House Executive Director Jason McLaughlin.  

It will serve families in crisis with case management services, mental health treatment, nutrition classes, a playroom for children, and similar services. Walk-ins are welcome, McLaughlin said, but an appointment is better, either through the agency’s website, www.HYCWaitHouse.org, or by telephone at 518 246-5579.

Funding for the new center was provided by grants from the New York State Department of Education and Office of Family and Children’s Services. The agency itself receives some funding from the U.S. Department of Housing and Urban Development and from the City of Glens Falls.

Wait House continues to provide services and shelter for homeless and runaway youth at its original house at 12 Wait Street.

The non-profit organization has a staff of 34, 11 of whom will be at the new center. It focuses on Washington and Warren Counties but also sees clients from Hamilton and Saratoga Counties. Services are provided to families and youth up to the age of 21. Among recent accomplishments, McLaughlin noted, Wait House placed 287 formerly homeless families in their own homes last year. It also provides food and toiletries and has a street outreach program. Work with area schools is also central to the agency’s mission.

The 2024 Saratoga Showcase of Homes Committee has begun the planning this year’s edition of the area’s premiere new home tour. Celebrating its 28th year, this annual community tradition has contributed over $1.5 million dollars to our local charities.

We are excited to announce this year’s dates and look forward to presenting an outstanding line-up of magnificent homes on display this fall. The 2024 Saratoga Showcase of Homes event will be held on 4 days over two spectacular weekends this fall on October 5-6 & October 12-13 featuring the regions finest, award-winning builders showcasing their new construction.

Be a part of the area’s premiere new home tour!

The Showcase of Homes Committee will have an extensive marketing and promotional campaign, which will include official media sponsors in newspapers, magazines, television, online, social media and more! If you are interested in entering a new home in the event or becoming a showcase sponsor, please contact Barry Potoker, Executive Director at 518.366.0946 or bpotoker@saratogabuilders.org.

The 2024 Saratoga Showcase of Homes event will benefit Rebuilding Together Saratoga County and Habitat for Humanity of Northern Saratoga, Warren and Washington Counties. Last year $70,000 was raised for these two important organizations. Through this event, the Saratoga Builders Association has now contributed over $1.5 million to our local charities. For more information, please visit www.saratogashowcaseofhomes.com. Follow us this year on our BLOG & FACEBOOK for all the details and updates!

About Saratoga Builders Association

Arrow Financial Corporation (NasdaqGS® – AROW) has announced that its bank subsidiary, Glens Falls National Bank and Trust Company, has entered into a definitive agreement with Berkshire Bank, a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE: BHLB), under which Glens Falls National Bank will acquire the branch office at 184 Broadway in Whitehall.

The sale is targeted for completion by the end of the third quarter of 2024, subject to customary regulatory approvals. Following the anticipated completion of the sale, Glens Falls National Bank will operate a total of nine branches in Washington County.

“We are thrilled to announce the acquisition of the Whitehall location from Berkshire Bank, and we are eager to welcome its customers to our Arrow Family of Companies,” said Dave DeMarco, President and CEO of Arrow Financial Corporation and Glens Falls National Bank. “This strategic move marks a milestone in our growth and underscores our commitment to expanding our market presence, allowing us to further enhance our offerings and drive value for our shareholders. We have a long history of meeting diverse financial needs in Washington County and communities like Whitehall. With our commitment to the area and our local expertise, we are confident this will be a smooth transition for our new customers.”