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Economic Outlook 2017 – Janet Besheer

Posted onJanuary 6, 2017January 9, 2017

eco-outlook-janet-besheer-cBy Janet Besheer

As we herald in 2017, I am taking a moment to reflect on 2016 and the many changes that occurred in our region.

It was the year of “moving up the Northway.” New construction projects began, including new or improved hotels/motels, contract on upgrading Northway Exit 17, upgrading at the outlets in Queensbury, new apartments in downtown Glens Falls and an uptick in sales throughout Warren, Washington and northern Saratoga Counties.  So what lies ahead?

A month ago, the report came out that Glens Falls is on the top of the lists of best places to live in the U.S. Glens Falls has been on the top of lists for upcoming cities for years.  2017 could be the year that the promise of a Glens Falls “Renaissance” will come to fruition.

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Economic Outlook 2017 – Dennis Brobston

Posted onJanuary 6, 2017January 9, 2017

eco-outlook-brobston-cBy Dennis Brobston

It’s hard to recall a year with as many twists, turns and unexpected news as 2016. Amid the turmoil, Saratoga Economic Development Corporation (SEDC) remained a steady hand delivering tangible job creation and economic growth results. In the four years through 2016, SEDC efforts have stimulated over $2.4 billion of new investment generating nearly 2,000 new and retained jobs and $71 million in employee payroll. 2016 alone produced $51 million of new investment leading to 627 jobs. These jobs will add over $23 million of annual household income in area communities.

Promoting Saratoga county, retaining, and growing jobs and wages are SEDC’s mission. We are pleased to report our progress in 2016 because it previews expectations for success in 2017. SEDC helped homegrown advanced manufacturers like AgroChem stay and expand in Saratoga Springs even as they could have been recruited across the country. SEDC attracted key semiconductor supply chain investment through PeroxyChem’s new plant. We realized job retention supporting local small and mid-sized business expansions and landed corporate headquarters with operations of Arnoff & SKS moving to Saratoga county. JW Danforth expanded into Halfmoon with SEDC’s help, adding good jobs and diversifying its tax base.

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Economic Outlook 2017 – Stephen Kyne

Posted onJanuary 6, 2017January 9, 2017

eco-outlook-kyne-cBy Stephen Kyne

If there’s a consensus about 2016, it seems to be that it was entirely too long. It wasn’t bad enough that it was a leap year. There was even a “leap second” on Dec. 31.

The year that killed the celebrities we loved  just wouldn’t seem to die. Now that it’s over, and Betty White is safe, we can reflect on the year that was and turn an eye toward the new year.

Once again, U.S. GDP grew as expected last year, with annual figures likely to come in somewhere in the 2.1-2.5 percent range, which has been the average growth rate since the recession. We do anticipate potential for increased growth in the coming year as many economic, policy, and regulatory headwinds dissipate. At worst, we expect the same slow growth to continue and expect the likelihood of an imminent recession to be extremely low.

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Economic Outlook 2017 – Marty Vanags, CECD

Posted onJanuary 6, 2017January 9, 2017

eco-outlook-marty-vanags-cBy Marty Vanags, CECD

Toward the end of 2016, the Dow Jones was edging close to 20,000 points. At the beginning of 2016 no one would have predicted it could get so high. No one thought Donald J. Trump would be president-elect and no one thought the Chicago Cubs would win the World Series after a 108-year dry spell.

In our age of fast news, fake news, information overload and FOMO (fear-of-missing-out for non-millennials), a prediction, about anything, at least in the short term, is nearly impossible to make.

Economic predictions are difficult because world events and domestic policy in finance, trade and monetary maneuverings are out of our immediate control. With a new, untested president about to assume office with no previous governmental track record, it is hard to know exactly what will occur in  2017.

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Economic Outlook 2017 – Todd Shimkus

Posted onJanuary 6, 2017January 9, 2017

eco-outlook-shimkus-cBy Todd Shimkus

I took a ride last year from Saratoga to Albany in a self-driving car. It wasn’t a test. I was simply traveling to a meeting with a person who owned a car that could get us there by itself.

It was a moment of clarity as the car changed lanes or slowed down while the driver and I spoke. I really saw how the speed of change is both rapid and likely underestimated locally.

Every day, new technologies are being used by our neighbors. New products are being invented that will open up new doors to us while simultaneously challenging our expectations, our laws, and our local economy.

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Economic Outlook 2017 – Pete Bardunias

Posted onJanuary 6, 2017February 9, 2017

eco-outlook-bardunias-cBy Pete Bardunias

Last year we talked about workforce, which continues to be a hot-button issue for area employers and economic developers alike. New York struggles to compete with the rest of the country, and indeed the world, when it comes to attracting an adequate workforce to support the type of industry-leading and cutting-edge technology we hope to attract to the area.

There is a simple reason for this: people keep choosing not to stay in the area. To those of us who, like myself, have chosen to come to Tech Valley in search of a better future for our families, this may seem rather counterintuitive, but it is a big problem because parents keep sending their kids to expensive schools in search of liberal arts degrees and perceived prosperity in environs far away from home.

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Projects In Saratoga County Receive $4.3M In Recent Round Of State Development Grants

Posted onJanuary 6, 2017January 9, 2017
Common Roots Brewing Co. in South Glens Falls will receive $100,000 to renovate its warehouse to support continued growth and expansion into new markets. Courtesy Common Roots Brewing Co.
Common Roots Brewing Co. in South Glens Falls will receive $100,000 to renovate its warehouse to support continued growth and expansion into new markets.
Courtesy Common Roots Brewing Co.

Grants totaling some $4.3 million will assist projects in Saratoga County, the money coming in economic and community development funding awarded through Round VI of the state’s Regional Economic Development Council initiative.

More than $700 million in grants statewide was announced Dec. 8.

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Franklin Center’s ‘Project Lift’ to Expand Its Services To Two More Elementary Schools

Posted onJanuary 6, 2017January 9, 2017

Franklin Community Center will expand its Project Lift program to include Division Street and Lake Avenue elementary schools.

It is now operating in all six of the Saratoga Springs City School District elementary schools.

Project Lift is a free after-school prevention program operated by Franklin Community Center that offers a safe, caring and structured environment for youth in grades 1-5. Center officials said its approach heightens children’s social and emotional competence, improves decision-making skills, offers lessons on the prevention of tobacco, drugs, alcohol and bullying, boosts self-esteem and helps strengthen the bond between child, family, school and community.

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John Baker Is Bidding Emotional Goodbye To Gaffney’s, A Business He Has Run For 35 Years

Posted onDecember 9, 2016December 13, 2016
John Baker, 59, has owned and operated Gaffney’s restaurant and bar on Caroline Street for 35 years, since he was 24 years old. The establishment is changing hands in January. ©2016 Saratoga Photographer.com
John Baker, 59, has owned and operated Gaffney’s restaurant and bar on Caroline Street for 35 years, since he was 24 years old. The establishment is changing hands in January.
©2016 Saratoga Photographer.com

By R.J. DeLuke

Gaffney’s, a landmark Saratoga Springs restaurant and bar, has changed hands and with that transaction, the owner is riding off to the ski slopes after investing 35 years of his life in the business.

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SEDC: Two Proposed Projects Being Pursued Could To Lead To 130 New, 69 Retained Jobs

Posted onDecember 9, 2016December 13, 2016

Saratoga Economic Development Corp. (SEDC) is coordinating eligible proposed investment and job creation incentives for two separate firms totaling $21 million in new investment. Combined, it could lead to 130 new and 69 retained jobs in the county, agency officials said, pending approvals by local and state agencies. SKS Bottle & Packaging Inc., founded...

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