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Witt Construction Plans A Development Featuring Group Of Three-Story Townhomes

Posted onFebruary 9, 2018
This shows a portion of the Excelsior Park Townhomes to be built by Witt Construction.
Courtesy Witt Construction

By Maureen Werther

Witt Construction expects to break ground soon and begin construction of Excelsior Park Townhomes located at 21-25 Whistler Court.

Company president John Witt said when the project is completed, there will be 18 units, ranging in size from 1,300 to 2,600 square feet, with prices beginning in the mid-$300,000 and up range. Two units will have an additional option of being constructed as an additional bedroom or as an efficiency-type “in-law” or guest apartment.

The townhomes will be three stories, with entrances through the garage level; a second-floor living, dining and kitchen area; and bedrooms on the third floor. The garages will be both one-and two-car. According to Witt, buyers will be able to choose from numerous amenities, working with Witt Construction’s in-house designer and customizing the homes to their liking.

The homes will be characterized by high ceilings, large double-glazed windows, open floor plans and signature detailing that has won Witt many awards over the years.

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Business Report: Contractors And The New Tax Reform

Posted onFebruary 9, 2018February 9, 2018
Robert L. Kind is a CPA and shareholder with Teal, Becker & Chiaramonte CPAs, PC.
Courtesy Teal, Becker & Chiaramonte

By robert l. kind

As the new tax reform took shape in late 2017 and then was approved just a few days before Christmas, contractor services team were examining what elements could have the most impact on contractors and small business owners.

What is commonly being called the Tax Cut and Jobs Act (TCJA) of 2017 has caused a lot of discussion on whether companies will come out as winners or losers in 2018. While it has enhanced some tax breaks for contractors, it has also reduced or eliminated others.

Let’s start with the good news first. Here are some of the positive outcomes we think may be coming contractors’ way with the new law.

Expanded use of cash basis accounting method

Many contractors with average receipts over $10,000,000 have been required to use the percentage of completion method for tax purposes. The TCJA provides that, for tax years beginning after Dec. 31, 2017, taxpayers that have average annual gross receipts of $25 million or less during the preceding three years are not required to report on the percentage of completion method and can elect to be treated on the cash basis of accounting. The cash basis of accounting should present a more favorable deferral of income for a contractor.

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Business Briefs

Posted onFebruary 9, 2018

The Ballston Spa Business & Professional Association will hold a networking breakfast 7:30-8:30 a.m. Tuesday, Jan. 9, hosted by Rebuilding Together Saratoga County at 132 Milton Ave. in Ballston Spa.

Rebuilding Together Saratoga County partners with volunteers year round to help homeowners in need live independently in safe and healthy homes and build healthy neighborhoods through their programs. Its resale shop in Ballston Spa sells donated items at a fraction of the cost and all proceeds are used to provide home repairs for veterans, seniors, individuals living with disabilities and families in need.

Cost for the breakfast is $5 with advance reservation—prepayment available at www.ballston.org—or RSVP to info@ballston.org and pay at the door. Non-reserved walk-ins pay $10.

Business and community members are welcome. They need not be a BSBPA member to attend this event.

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Saratoga Springs Chef Opens Pop-Up Eatery, ‘Buddha Noodle’ Inside Downtown Bar

Posted onFebruary 9, 2018
This is the logo of Brady Duhame’s new business inside Sinclair on Maple Avenue.
Courtesy Buddha Noodle

By Jennifer Farnsworth

Chef Brady Duhame has launched a pop-up eatery at Sinclair Saratoga, a game room and bar at 17 Maple Ave. in Saratoga Springs.

Duhame worked as the head chef at 15 Church, a  Saratoga Springs high-end restaurant, for three years before holding the title as director of culinary operations for Saratoga Hospitality Group. He said he always had a dream of one day being able to open an Asian-style restaurant and when the opportunity arose, he decided it was time to make that move.

“For as long as I can remember I wanted to combine my two loves, Asian cuisine and noodles,” said Duhame.

Buddha Noodle is located at 17 Maple Avenue and is open daily from 5-10 p.m.

“I was in California and a connection from Sinclair called. Once I was back, I looked at the space, walked through the arcade room and felt it was the perfect scenario, so we partnered up,” said Duhame.

He said he plans to make some renovations in the near future, especially as the business grows, but for now he is happy that his vision has a home.

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City Surplus Funding Is Being Applied To Development Projects In Saratoga Springs

Posted onJanuary 4, 2018January 4, 2018
Commissioner of Finance Michele Madigan, left, with Teddy Foster of UPH.
©2017 Saratoga Photographer.com

By Susan E. Campbell

Saratoga Springs is reinvesting in the community by making $150,000 available to three different housing and restoration projects in the city, according to Commissioner of Finance Michele Madigan.

“We were at the high end of our fund balance and several economic development projects had come forward,” she said. “The City Council decided to break the reserves into three equal funding grants of $50,000 each.”

The recipients of the grants are the Saratoga Springs Housing Authority, the developers of a mixed use project on South Broadway, and reonovation  of the historic Universal Preservation Hall.

Receipt of these funds is contingent on each recipient obtaining grants or tax incentives from the state to move forward on the respective projects.

“We have the unique opportunity to increase the likelihood that multiple-million-dollar projects occur within the city with only a modest contribution [from the city],” said Madigan.

Saratoga Housing will construct a new workforce housing project behind Stonequist Apartments on South Federal Street.

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Tedisco: State Needs To Create A Better Environment For Growing Small Businesses

Posted onJanuary 4, 2018July 8, 2019
State Sen. Jim Tedisco represents the 49th District that includes part of Saratoga County.

By State Sen. Jim Tedisco

New York state needs a New Year’s resolution and stick to it to go on a diet from taxation, spending, borrowing, mandating and regulating to turn our state’s economy around and truly open the state for business.

Since 2010, more than 1 million people have left New York state—over 190,000 people in just the past year, according to the U.S. Census Bureau. New York ranks 48th in the nation for Tax Freedom Day, when people symbolically pay off all of their federal, state and local taxes and start taking home their paychecks to pay necessary things like mortgage, health care, tuition and food.

Much of the research shows that New York has one of the worst environments in the nation for the development and growth of small businesses and jobs. And recently, to add insult to injury, New York was picked as one of the worst places to retire.

Though we’ve taken some positive steps by passing the property tax cap to put a lid on out of control property tax increases, limiting the rate of Medicaid growth costs for local governments, and capping state spending to no more than 2 percent, there are still miles to go to keep New York working and open for business.

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Economic Outlook 2018: Todd Shimkus

Posted onJanuary 4, 2018July 8, 2019

By Todd Shimkus

Todd Shimkus, president, Saratoga County Chamber of Commerce.

In 2018, the Saratoga County Chamber of Commerce will celebrate 100 years of leadership getting positive things done for the betterment of our community and our members.

Our Chamber’s first president was Joseph H. Clark, the head of the Clark Textile Co. He hosted the first Chamber annual dinner at Newman’s Lake House, on June 7, 1918. The dinner’s “toastmaster” was Charles C. Van Deusen, president of the Adirondack Trust Co.

In 1918, on the 11th hour, of the 11th day, of the 11th month, World War I came to an end. It was the year that Howard Cosell, Ted Williams, Nelson Mandela, and Paul Harvey, to name a few, were born. The president of the United States at the time was a Democrat, Woodrow Wilson.

The Chamber’s mission 100 years ago was simple: Foster trade and commerce; promote friendly cooperation between local businesses; and forward the interests of Saratoga as a health resort and a seat of learning. Today, this original mission remains at the core of our efforts.

We continue to help local companies to open doors and close deals at events like our annual B2B Expo and through ribbon cuttings where we celebrate a dream come true.

We still believe that being a healthy place to live is good for our economy as witnessed by our leadership of the #HealthySaratoga movement.

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Economic Outlook 2018: Dennis Brobston

Posted onJanuary 4, 2018July 8, 2019
Dennis Brobston, president/CEO, Saratoga Economic Development Corp.

By Dennis Brobston

The 2018 economic outlook for Saratoga County and the greater region remains strong. It also marks Saratoga Economic Development Corp.’s 40th anniversary of boosting Saratoga County’s readiness for success.

Our community-led member network positions us close to market realities to set priorities. To build on our legacy of success and stay prepared for future opportunities, the need can be summed up in one word; capacity.

Talent, both a workforce incorporating needed technical skills, and an inspired culture of entrepreneurs, will boost Saratoga’s competitive standing. Building and infrastructure flexible enough to support earlier stage small businesses, as well as capital-intensive needs for mature companies, are critical assets. This combination of innovators supported by a prepared, modern workforce and appealing locations for them to be productive, enhances Saratoga’s competitive capacity.

Promoting Saratoga County, retaining, and growing jobs and wages are SEDC’s mission and 2017 was a productive year. Publicly reporting progress against economic development goals helps keep SEDC accountable for delivering tangible results. From 2014 through 2017, SEDC efforts have stimulated over $2.54 billion of new investment generating over 1,800 new and retained jobs and $48.7 million in added employee payroll. 2017 alone produced $30.3 million of new investment leading to 430 jobs. These jobs will add over $8.6 million of annual household income in area communities.

We realized job retention goals by supporting local small and mid-sized business expansions. SEDC helped homegrown manufacturer Greenfield Manufacturing, Inc. expand in Saratoga Springs even while being recruited nationally. SEDC supported one of the newest additions to the Saratoga business community, Arnoff Logistics, expand their Malta facility creating 20 new jobs.

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Economic Outlook 2018: Pete Bardunias

Posted onJanuary 4, 2018July 8, 2019
Peter Bardunias, president/CEO, Chamber of Southern Saratoga County.

BY PETE BARDUNIAS

Every year January prognostications touch on the same themes: workforce (we need more of it), collaboration (how to achieve it), corporate investment (how to attract it) and innovation (how to encourage it).

I’ll add another one: regulation (how to reduce it).

After seven years at the helm of the Capital Region’s third largest chamber (based on number of members), I am convinced that our business community has both the tools and desire to succeed, if we can get government out of the way and encourage a disruption in the pre-conceived notion of what it means to be successful in terms of workforce education and in economic development. The measurements we have been using to guide our efforts are, at least in some cases, flawed or incomplete.

For example, when the Saratoga County Prosperity Partnership’s Marty Vanags stood before the cameras in December to discuss the proposed Area 3 Halfmoon Industrial Complex, he was justifiably proud of the collaborative study effort that led to the announcement. I was excited to be standing alongside him as well as officials from the town of Halfmoon, volunteers and property owners from the community, and representatives of National Grid, which had partially financed the project.

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Economic Outlook 2018: Mark Shaw

Posted onJanuary 4, 2018July 8, 2019
Mark Shaw, president and CEO of Stored Technology Solutions Inc. (StoredTech).

By Mark Shaw

2018 will bring about the “everything” as a service.

What does that mean to us as business owners? It means that everything, and I do mean everything, technology wise for your business will become an app, a cloud, and a service.

In 2016, in an article, we wrote about the cloud coming in to its own for servers and applications. This meant as a business, you no longer needed to worry about energy sucking, dedicated-room needing, heavy-on-the-local maintenance hardware. It all went up to the cloud and became someone else’s problem. Email was the first to go.

Then in 2017, this same space covered the conversation of the desktops and laptops in to an operating expense model. This is where hardware was rented and not owned. You as a business owner no longer needed to have a basement or room full of old computer junk.

It also meant that everyone, on a regular basis, all at the same time, could receive new desktops, laptops and tablets. Gone were the days of rolling down the CEO’s laptop to the receptionist and the receptionist’s desktop down to maintenance. It became a truly global replacement of hardware. Everyone was delighted.

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