Saratoga Business Journal

Adirondack Trust Co. To Build New Office In Malta, Convenient For GlobalFoundries

August 4, 2016November 8, 2017

By Jennifer Farnsworth

Adirondack Trust Co. will soon break ground for a new branch located at Luther Forest Boulevard and Route 67 in Malta.

The bank is looking to serve not only the area near Northway Exit 12, but is looking to specifically take advantage of the locations’ close proximity to GlobalFoundries said Charles V. Wait Jr., executive vice president.

The branch office is expected to open sometime this fall.

Wait said the branch will differ from the others as it won’t be a stand-alone property. It is part of a building owned by Stewart’s Shops and the office will adjoin a Stewart’s store. Adirondack Trust will rent the space from Stewart’s.

Wesley Staffer Wins 'Employee Of Distinction' Award For Extraordinary Senior Care Service

August 4, 2016November 8, 2017

Laurie Wetsel received the 2016 LeadingAge New York Employee of Distinction Award.

Courtesy The Wesley Community

The Wesley Community, a leading provider in housing and services for independent seniors and those requiring all levels of care, announced that one of its staff members has been recognized for extraordinary dedication to senior care services by LeadingAge New York.

Laurie Wetsel, resident financial services manager at The Wesley Community, received the 2016 LeadingAge New York Employee of Distinction Award during a rÂÂecent ceremony at Wesley campus in Saratoga Springs.

The award recognizes the efforts of front line staff of nonprofit senior care and services organizations in New York state. Only 18 people are chosen for the award every year.

Kru Coffee Coming To Fresh Market Plaza In Saratoga Springs; 8-10 Jobs Will Be Created

August 4, 2016November 8, 2017

By Margaret MacDonald

Kru Coffee, a new company located in the Fresh Market Plaza in Saratoga Springs, situated alongside Smashburger and Gennaro’s Pizza Parlor, is looking to open toward the end of August.

Ryan Miller also owns Caffé Vero in Lake George (previously in two other locations) and Spektor Coffee in Glens Falls. His coffee-related interests began in 2005 and he began roasting in 2008. Caffé Vero was opened in 2006 and Spektor in 2012.

In a space of 4,000 square feet, the company will be both a roasting facility and coffee bar. The bar area is open and looks out into the roasting facility, allowing interplay between the two.

The café, Miller said, will not be the average coffee shop. The company aims to create a new coffee experience, deeming it a creature of the “third-wave coffee world.” Kru boasts high-end machinery, specialized brewing methods and well-trained baristas dedicated to the craft.

Miller said eight to 10 people will be employed.

There will be two bars: a full-service standard bar and a “specialized-menu concept bar” or “slow bar,” he said. The latter seeks to serve and treat coffee in a “culinary fashion,” with a seven-seat intimate setting and more involved, time-consuming drinks like smoke-infused coffee.

Business Report: Options Abound For Downsizing

August 4, 2016November 8, 2017

Joan E. Taub is an associate broker with Berkshire Halthaway HomeServices, Blake.

Courtesy Berkshire Hathaway HomeServices Blake

By Joan E. Taub

There have never been more choices in determining where one wants to live. When my grandparents retired they became snowbirds and traveled to Florida for the winter. Splitting time between two states was simply what people did.

The winters in the Northeast seemed too harsh for these “older” people in their 60s. At the time it seemed old and it seemed their only choice.

Now, in 2016 there are choices for the many who are still working, yet want to downsize now that their children have moved out; have retired and want to change their lifestyle; or those who anticipate health issues and fear they will not be able to navigate stairs in the future.

Each scenario has many possibilities.

For the working downsizer, I have noticed a lot of people moving away from the developments and moving into, or closer to, town. They no longer need to car-pool their children and enjoy living in a walkable, vital community where visits to the library, restaurants, stores and movies are so close. The in-town condos are appealing, as are homes in neighborhoods within a mile from downtown.

Many people set themselves up for downsizing years before they are actually ready. They purchase an in-town property with the intention of renting for a few years and, when ready, they move in themselves.

Business Report: Avoid Emotional Investing In 2016

August 4, 2016November 8, 2017

Stephen Kyne is a partner at Sterling Manor Financial in Saratoga Springs and Rhinebeck.

Courtesy Sterling Manor Financial

By Stephen Kyne

From its peak in May of 2015 to new records set in July of this year, the markets have suffered two corrections.

If there’s been a theme to the last year of investing, it is volatility. In spite of that volatility, however, it remains true that long-term investments in the markets provide positive returns over time, as long as the investor possesses the discipline to remain invested. Many don’t.

As a result, most individual investors buy high and sell low; emotions cause them to flee the markets as they hit lows, locking-in losses, and remain out of the markets through periods of recovery, only to enthusiastically jump back in in time for the next pullback.

Emotions have no place in investing.

Remember that there are two sides to every trade. In order for you to sell that investment at the bottom of a market correction, someone else has to be willing to buy it. If the investment is such a dog, what does that person know that you don’t? Sometimes you’ll be right, but many times the buyer recognizes that the low price represents a deep discount, and is eager to let you sell them something on sale.

Emotional investment decisions are often instigated by what you perceive to be true based on exposure to the media. Remember, the news never shows the house that didn’t burn down, nor all the people who made it home safely last night. Media exists to sell advertising, and sensationalism puts butts in the seats. Consequently, every little problem in the world becomes inflated to that end. This year’s election is a perfect example.

Home Of The Good Shepherd Opens A New Assisted Living Facility On Church Street

August 4, 2016November 8, 2017

By Jennifer Farnsworth

The Home of The Good Shepherd has been serving the senior population in Saratoga County since 1870. The assisted living facilities have provided care to thousands and the company recently expanded, with the addition of a new location at 400 Church St. in Saratoga Springs.

The organization has other Saratoga County sites in Moreau, Wilton and Malta.

Development coordinator Courtney Lamport said the new location provides customized care plans for each resident, including nursing assessments and skilled nursing tasks; 24-hour care seven days a week with a registered nurse on site; meals, housekeeping and laundry services; daily activities and transportation.

There are several floor plan options, depending on each resident’s individual needs.

“We have warm and inviting private suites,” said Lamport.

Environmental Consulting Engineers Help Developers Navigate Complex Regulations

August 4, 2016November 8, 2017

Dan Reilly, division manager of environmental services for C.T. Male Associates.

By Susan E. Campbell

Every building site, redevelopment and manufacturing company faces aÂ complex set of regulatory requirements at the federal, state and local levels designed to protect the environment. Even the public sector and green spaces like trails, parks and cemeteries must comply.

This is the challenge of environmental engineering and consulting, a highly specialized, professional field that is thriving here in Saratoga County. Companies like C.T. Male Associates and The LA Group navigate the ever changing regulatory process by seeking permits, performing research and testing, and resolving when and how a project should best proceed so that the strict standards of the regulators may be met.

“Avoid, minimize and mitigate” is the mantra at The LA Group, said Kevin Franke, director of environmental services. Â

The LA Group serves a wide range of clients but specializes in open spaces. The firm designed the National Cemetery in Stillwater, jump-starting a relationship with the Veterans Administration and ongoing projects both statewide and nationwide.

The avoid-minimize-mitigate process flows this way: A building site has been identified by the Army Corp of Engineers as having wetlands. Priority one is to avoid building on the affected acreage if possible. Otherwise, minimize any environmental risk by reconfiguring the site plan or adjusting the building design.Â

Aztech Environmental Technologies Is One Of The Area's Largest Women-Owned Businesses

August 4, 2016November 8, 2017

Mary Passaretti is a geologist and co-owner of Aztech Environmental Technologies.

By Lisa Balschunat

“I always liked playing in the dirt,” said Mary Passaretti, geologist and co-owner of Aztech Environmental Technologies, when talking about the growth and challenges her company has faced over the years.

“If it’s wet, it’s mud; if it’s dry it’s dirt. Right? according her to her business partner, Fil Fina III, PE. By no means, is it that simple when it comes to remediation solutions, environmental consulting and comprehensive drilling services, but Aztech Environmental has a solid business record, coupled with a high-tech team, to simplify challenging environmental problems for its current and future clients.

In 1991, Passaretti formed Passaretti Geological & Environmental Consultants Inc. in the basement of her mother’s home in Saratoga Springs.

“Ninety-eight percent of my work was prepping the ground for Stewart’s Shops,” she said. Prior to that, she worked in the oil industry in Tulsa, Okla. Right out of undergraduate school, she embarked on a 10-year career in the research division of Amoco and Cities Service (Citgo). As a diver for Citgo, she collected research data in the Bahamas, Belize and, less glamorously, offshore New Jersey. The data from the Bahamas formed the basis of her master’s thesis earning her a graduate degree at TU.

As Passaretti Geological grew, the company partnered with F.L. Fina PE PC.

“We found that the two companies complimented each other and made good partners,” she said. “Fil has a brilliant engineering mind, and I have the geological piece.”

State Clean Energy Standard Requires Half Of Electricity To Come From Renewable Sources

August 4, 2016November 8, 2017

The state Public Service Commission has approved New York’s Clean Energy Standard, which officials are calling the most comprehensive and ambitious clean energy mandate in the state’s history, to fight climate change, reduce harmful air pollution, and ensure a diverse and reliable energy supply.

The Clean Energy Standard will require 50 percent of New York’s electricity to come from renewable energy sources like wind and solar by 2030, with an aggressive phase in schedule over the next several years, state officials said.

In its initial phase, utilities and other energy suppliers will be required to procure and phase in new renewable power resources starting with 26.31 percent of the state’s total electricity load in 2017 and grow to 30.54 percent of the statewide total in 2021. The Clean Energy Standard will cost less than $2 a month to the average residential customer’s bill, officials said.

“New York has taken bold action to become a national leader in the clean energy economy and is taking concrete, cost-effective steps today to safeguard this state’s environment for decades to come,” Gov. Andrew Cuomo said. “This Clean Energy Standard shows you can generate the power necessary for supporting the modern economy while combatting climate change. Make no mistake, this is a very real threat that continues to grow by the day and I urge all other states to join us in this fight for our very future.”

Officials said the Clean Energy Standard will:

• Significantly reduce harmful greenhouse gas emissions and prevent backsliding on progress made to date by maintaining the operations of carbon-free nuclear power plants as the state transitions to a 50 percent renewable requirement.

• Strengthen New York’s electric fuel diversity for the reliability benefits it brings. The Clean Energy Standard also places New York as a leader of the global effort to combat climate change and the resulting extreme weather events.

By 2030, the 50 percent renewable mandate will be a critical component in reducing greenhouse gas emissions by 40 percent (from 1990 levels) and by 80 percent by 2050, officials said

Peak Environmental Landscape Construction, Management Services Moves To Round Lake

August 4, 2016November 8, 2017

Terry Hubbard of Peak Environmental Construction and Management Services.

By Maureen Werther

Peak Environmental Landscape Construction and Management Services recently settled in to a new location at 44 Wood Road in Round Lake.

Referring to Peak Environmental as a “green industry company that specializes in comprehensive landscape construction and management services for commercial and residential clients,” president Terry Hubbard said the company has been on a growth path and needed to find a new space that would accommodate its expanding business and the addition of new employees.

Peak Environmental specializes in three main landscape and construction services: high-end outdoor residential living spaces; landscape development work for commercial sites and new home construction development; and landscape management and maintenance services.

The company is known for its environmentally friendly designs and use of materials, as well as its attention to detail. The company’s motto is “one company, one call,” indicating that they can offer a comprehensive package of services from design/build to ongoing maintenance and support for both residential and commercial customers.