Saratoga Business Journal

Job Retention Is As Important As Job Creation When It Comes To A Strong Local Workforce

March 3, 2017

Martin Vanags is president of the Saratoga Prosperity Partnership.
Courtesy Saratoga Prosperity Partnership

By R.J. DeLuke

A huge component of economic development is helping existing businesses, looking to expand, find a local solution that meets their needs, and also connecting the right dots so that businesses looking to come into Saratoga County can do so with relative ease.

A key part of both of those situations is having a workforce that meets the needs of the employer, said Marty Vanags, president of the Saratoga County Prosperity Partnership.

The Prosperity Partnership, along with the Saratoga County Chamber of Commerce and Chamber of Southern Saratoga County, announced less than a year ago a business retention and expansion initiative dubbed Business First Saratoga.

It is intended to serve local business owners by developing relationships to better understand the opportunities and challenges of doing businesses in the region. An area that the program tries to assist businesses with is workforce development.

“Employers are having a difficult time finding employees to work at their facilities,” he said. “I hear it all the time.”

Some of the need to find employees comes as the work demographic changes, he said. Baby Boomers are getting to the point of retirement those jobs need to be filed.

Skills that are required today are different as technology put a stronger stamp on how things are accomplished.

Business Report: Trump Presidency And Tax Planning

March 3, 2017

Jane-Marie Schaeffer is a senior associate with the Herzog Law Firm.
Courtesy Herzog Law Firm

By Jane-Marie Schaeffer

How can you best tax plan in 2017? Will the proposals of the Trump campaign impact your immediate plans? The answer is “depends.”

There are certain changes that were already scheduled to happen in 2017 irrespective of the election results. In addition, while there will be more changes if President-Elect Trump’s proposed tax plan gets passed, most would not take effect until 2018.

Individual income tax – brackets and rates

Currently, there are seven income tax brackets and they are expected to remain in place in 2017. Income tax rates range from a low of 10 percent to the maximum of 39.6 percent. For married couples, the maximum tax rate of 39.6 percent will apply only after adjusted gross income reaches $470,700. Capital gains will continue to be taxed at 0 percent, 15 percent or 20 percent, depending on your income level.

If the tax proposals Trump’s campaign presented were enacted, it would simplify the tax code by reducing the number of income tax brackets from seven to three (12 percent, 25 percent and 33 percent), with the highest bracket starting when adjusted gross income reaches $225,000 for a married couple.

This would result in a significant reduction in taxes collected overall, however results at specific income levels would vary depending on the deductions and credits that would be available to each taxpayer. Capital gains tax rates would remain the same under Trump’s plan.

Individual income tax – deductions and misc.

The annual standard deduction gets a small increase in 2017, up to $6,350 for individuals and $12,700 for married couples. The personal exemption amount did not change and remains at $4,050 per person. Taxpayers have the choice of using either the standard deduction or the itemized deduction (whichever is higher).

State: Cybersecurity Rule Will Help Financial Services Industry Avoid Costly Cyber Attacks

March 3, 2017

New York state has adopted a cybersecurity regulation that officials say will protect New York’s financial services industry and consumers from the threat of cyber attacks. It took effect March 1.

The regulation requires banks, insurance companies and other financial services institutions regulated by the Department of Financial Services to establish and maintain a cybersecurity program designed to protect consumers’ private data and ensure the safety and soundness of New York’s financial services industry.

“New York is the financial capital of the world, and it is critical that we do everything in our power to protect consumers and our financial system from the ever increasing threat of cyber-attacks,” Gov. Andrew Cuomo said.

He said the protections “will help ensure this industry has the necessary safeguards in place in order to protect themselves and the New Yorkers they serve from the serious economic harm caused by these devastating cyber-crimes.”

State Department of Financial Services Superintendent Maria T. Vullo said the regulation “is ensuring that New York consumers can trust that their financial institutions have protocols in place to protect the security and privacy of their sensitive personal information. As our global financial network becomes even more interconnected and entities around the world increasingly suffer information breaches, New York is leading the charge to combat the ever-increasing risk of cyber-attacks.”

NYSERDA Website Provides Business Info For New Clean-Energy Companies Across The State

March 3, 2017

The New York State Energy Research and Development Authority (NYSERDA) in February launched a new website that provides early-stage, clean-energy entrepreneurs with individual, secure business assessments and resources to help them grow their companies.

Officials said the success of clean tech companies is vital to advancing the state’s Reforming the Energy Vision (REV) strategy to build a cleaner, more resilient and affordable energy system for all New Yorkers.

The website, www.StartupGPS.org, features an interactive survey enabling entrepreneurs to supply information that will be used to assess their team skills, product development, marketing and internal operations. Upon completion of the survey, users receive a report showing core business development areas that are the most complete and which ones need attention.

Technologies developed by new and emerging clean energy companies will help New York meet the Clean Energy Standard to have 50 percent of electricity used in the state come from renewable sources by 2030, officials said.

“New York State is attracting more and more clean tech entrepreneurs,” said John B. Rhodes, president and CEO, NYSERDA. “StartupGPS.org is another state resource to help these innovative companies create jobs here as we continue to build a robust clean energy economy.”

Along with the survey report, companies are guided toward the most helpful resources in the StartupGPS.org library of more than 300 documents, templates, articles and presentations organized by topic. Website visitors do not need to complete the survey to access the library. Reports with the private, secure results of the business assessments are stored by the website so each company can track its progress. The reports can be deleted at the company’s request at any time.

New Gaffney’s Owners Keep Old Feel, Bring New Menu To Caroline Street Establishment

March 3, 2017June 13, 2018

Zach Cutler, corporate executive chef for Saratoga Hospitality, raises at glass at Gaffney’s on Caroline Street in Saratoga Springs. The group recently took over ownership of the establishment.
©2017 Saratoga Photographer.com

By Liz Witbeck

Saratoga Springs has many iconic establishments, from the race course to the Saratoga Performing Arts Center. The restaurants downtown are also well known by locals and tourists alike. Perhaps one of the most beloved is Gaffney’s, a restaurant and bar at 16 Caroline Street.

The establishment is now under new ownership, with a new menu after longtime owner John Baker sold the business recently.

The business was purchased by Saratoga Hospitality. The company also owns Max London’s Restaurant, Mrs. London’s Bakery and Café, and the Saratoga Stadium, all in Saratoga Springs.

Saratoga Hospitality officially took over in late January 2017.

Zach Cutler is corporate executive chef, working with each of the Saratoga Hospitality locations. He is excited for the transition of ownership and has been hard at work crafting a new vision for the dining experience at Gaffney’s. Cutler is confident his team will continue to make the Gaffney’s brand proud, and build on what has already been established.

“He wanted to make sure it went into the right hands,” Cutler said of Baker. “It’s a Saratoga staple. It’s a place that resonates around the country and around the world. It’s a brand that John built and that we want to build upon.”

Craft Beer Pub With Food, Coin-Operated Video Games, Coming To Former Metro Site

February 3, 2017February 3, 2017

This building at 17 Maple Ave. in Saratoga Springs will be revived with a look owner Hillary Morrison says will be ‘almost entirely unrecognizable to what it was before.’

By R.J. DeLuke

The vacant building at 17 Maple Ave. in Saratoga Springs—long a nightclub and most recently a high-end restaurant—is coming back to life.

A new craft beer garden and restaurant, with an old-fashioned coin-operated game room—the Sinclair—is set to open perhaps by early this summer, according to Hillary Morrison, who will be the owner and operator.

Morrison recently moved to the area from Los Angeles with her husband and two children. After years in operations management in Los Angeles at some of the city’s top venues, she said she is ready to realize her vision in the Sinclair. She is the daughter-in-law of local business owners Mark and Betty Straus.

“Saratoga has an incredible sense of community and I am so excited to be a part of such a great town. The beer garden and game room will be a place where everyone can enjoy outdoor vibes, and have some nostalgic fun,” she said.

The name, she said, comes from a restaurant of the same name that her great-great grandfather operated in Manhattan that was closed in 1925 for serving alcohol during the Prohibition.

Progress Made In Cuomo’s Proposal For NYRA, But Officials Are Hoping For Some Changes

February 3, 2017February 3, 2017

The latest proposal to privatize NYRA, which operates Saratoga Race Course, is ‘a step forward,’ says Todd Shimkus, Saratoga County Chamber of Commerce president, but needs some amending. Courtesy NYRA — The latest proposal to privatize NYRA, which operates Saratoga Race Course, is ‘a step forward,’ says Todd Shimkus, Saratoga County Chamber of Commerce president, but needs some amending.
Courtesy NYRA

By R.J. DeLuke

Gov. Andrew Cuomo’s executive budget proposal includes a provision that would return New York Racing Association (NYRA) to private control. While those in the racing industry, including the Saratoga County Chamber of Commerce and the Concerned Citizens For Saratoga Racing, are not satisfied with its content.

Todd Shimkus, president of the Saratoga County Chamber of Commerce, said the governor’s proposal is “a step forward … It’s better than what the governor submitted in 2016, but not something, as written, that we would support.”

In 2012, Cuomo took control NYRA when it was $25 million in debt and had no systematic plan for investing in its facilities and improving customer amenities. A reorganization board was formed and was to serve through October 2015. But in June 2016, after being unable to agree to a legislative deal that would end NYRA’s state-mandated oversight, Cuomo extended state control for an additional year.

There was mounting criticism for failing to return to the private sector control of the organization that operates Aqueduct, Belmont Park and Saratoga.

Saratoga Home & Lifestyle Show To Include Art Show During March 3-5 Run At City Center

February 3, 2017February 3, 2017

This booth of Saratoga Modular Homes LLC was part of last year’s show. Courtesy Rotary Club — This booth of Saratoga Modular Homes LLC was part of last year’s show.
Courtesy Rotary Club

The Saratoga Home & Lifestyle Show, the Saratoga Springs Rotary Club’s largest annual fundraiser since 1973, will take place Friday through Sunday, March 3-5, at the Saratoga Springs City Center.

Again this year, admission to the show is free of charge, courtesy of the show’s major sponsor, the Adirondack Trust Co.

The event features 120 regional exhibitors showcasing a wide range of home improvement services, décor and furnishings, energy-saving products, outdoor living and landscaping, family recreation, and lifestyle products and services, as well as great prizes.

The Rotary Club has organized an arts and fine crafts show on the second floor of the City Center, with artisans such painters, photographers, wood crafters, sculptors, jewelers, botanical artists, and wine and spirits makers selling their work. Also on display will be artwork from Saratoga Springs High School students.

Other event sponsors include Allerdice ACE Building Supply (door prizes), The Saratogian (advertising), Saratoga Today (magazine), and Mannix Marketing (media).

Jenifer Martin Leads Chamber Of Southern Saratoga County In Its 50th Anniversary Year

February 3, 2017February 3, 2017

Jenifer Lynne Martin is chairperson of the Chamber of Southern Saratoga County board. Courtesy Chamber of Southern Saratoga County — Jenifer Lynne Martin is chairperson of the Chamber of Southern Saratoga County board.
Courtesy Chamber of Southern Saratoga County

The Chamber of Southern Saratoga County (CSSC) traces its roots to a local business organization founded in 1967 to support the twin towns of Clifton Park and Halfmoon, once considered rural “flyover country” to people headed to more popular destinations.

Some 50 years later, the 1,070-member organization is the Capital Region’s third largest chamber, serving 18 communities. It is a leader in the marine, manufacturing, agriculture and transportation sectors, and its Saratoga County Community Development Program has provided a new perspective on “bottom-up” economic development, according to its president and CEO, Pete Bardunias.

He said to better direct the organization’s programs, the Chamber 2017 strategic plan is based on the “3Cs”—Connections, Commerce and Community. This approach looks at things from the voice of the “customer” (member), concentrating chamber efforts in areas that provide the most value for the membership investment, based on input from focus groups and workshops.

To facilitate these changes, staff roles and responsibilities have changed also, he said. Working alongside Bardunias are Vice President of Marketing and Membership Connections Nigar Hale, Vice President of Community and Professional Development Liz Roggenbuck, Operations Manager Sheila Whinnery, Membership Consultant Sandy McAlonie and several part-time staff for the Information Center at the Northway Exit 9 rest area.

Leading the board this year is Chairwoman Jenifer Lynne Marten, an AVP/commercial relationship manager at Ballston Spa National Bank (BSNB).

Personnel Briefs: February 2017

February 3, 2017February 3, 2017

The Summit at Saratoga, an independent senior-living community for adults 55-plus in Saratoga Springs, promoted Christy Durant from senior living consultant to community manager.

In her new position, the Wilton resident will supervise the day-to-day property management, including hiring and training new staff. She is also responsible for leasing the facility’s 110 apartments, as well as overseeing all aspects of the community’s marketing activities.

Durant, a graduate of Providence College, launched her career as director of resident services at Sakonnet Bay Manor in Tiverton, R.I. She held other positions in Rhode Island, including director of marketing and sales at East Bay Manor in East Providence and executive director of Greenwich Bay Manor in East Greenwich.

Upon returning to the Capital Region, the Amsterdam native worked as executive director of the Crossings at Saratoga Springs, director at Avila Retirement Community in Albany and director at Woodlawn Retirement Community in Saratoga Springs.

She holds an MBA from the University at Albany.

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First New York Federal Credit Union announced that Heather Parent has been promoted to assistant branch manager of the company’s Saratoga branch.

She was previously the support services supervisor of the Operations and Support Services Department at First New York’s Headquarters from 2015-2016.

Prior to joining First New York Federal Credit Union, Parent worked for Community Resource Federal Credit Union in Latham as a Visa coordinator, member service representative and member service/operations supervisor.

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