Saratoga Business Journal

GlobalFoundries, Lockheed Martin Join Forces To Boost U.S. Semiconductor Supply Chain

July 10, 2023

Lockheed Martin aircraft will benefit from a strategic collaboration with GlobalFoundries to increase the security and reliability of national security systems.
Courtesy GlobalFoundries

Lockheed Martin and GlobalFoundries announced on June 12 a strategic collaboration to advance U.S. semiconductor manufacturing and innovation and to increase the security, reliability and resiliency of domestic supply chains for national security systems.

Officials said the collaboration will enable Lockheed Martin to more quickly and affordably produce secure solutions that increase the competitiveness and national security of the United States.

The companies will leverage GlobalFoundries’ differentiated technology and trusted manufacturing practices to increase anti-fragility in microelectronics systems and supply chains. The collaboration will explore critical needs in semiconductor innovation and secure manufacturing across a range of advanced and next-generation chip technologies, including 3D heterogeneous integration for optimized chip packaging that improves performance; silicon photonics for low-power and high-speed data transport; and gallium nitride on silicon to help chips work at higher temperatures.

Officials said the companies will also work to develop a chiplet ecosystem to produce chips more rapidly and affordably.

Sandwiches And Hotdogs Served On Pretzel Buns Featured At Salty Buns In Wilton Mall

July 10, 2023

Alison Packer, left, and Jon Locke, center, owners of Salty Buns, a new quick service restaurant in the Wilton Mall, pose with general manager Corey Lalonde.

by ann donnelly

Salty Buns is a new quick service restaurant in the food court of Wilton Mall that offers a range of sandwiches and hot dogs on pretzel buns.

Owners Jon Locke and Alison Packer had always wanted to open a restaurant and sought a unique idea.

“When restaurants have limited availability specials on pretzel buns, they are so popular. We love pretzels, and we love restaurants, so we came up with the idea for this restaurant,” said Locke.

The business opened at the beginning of June, and the owners are delighted at the success they have seen early on.

“Each week, sales have risen. From 800-900 customers in the first week to approximately 2,000 customers in the third week,” said Locke. “The word has spread, mainly on Facebook, and we have had customers that traveled from as far as Connecticut.”

Before deciding to locate in the mall, Locke and Packer had in-depth discussions with the owners and management and decided it would be the best location for them to get started.

“They outlined their plan for the future and painted a clear picture that now is the time to set up here,” said Locke. “Name brand stores, Planet Fitness, the DMV, and Glens Falls Hospital draw people in. I stand here every day, and I see the mall coming back to life with many young people, in their teens and 20s, spending time here. Now many are coming just for Salty Buns.”

Micro Brews, Nonprofits Among Those Who Can Apply In Latest Grant Funding Round

July 10, 2023

New York state has opened the application period for Round XIII of the Regional Economic Development Council Initiative.

Round XIII includes core capital grant and tax-credit funding combined with a wide range of programs from 10 state agencies, including $150 million in grant funds from Empire State Development, available to projects on a continuous basis.

The councils are encouraged to support projects that advance or address strategic State priorities—including green buildings and sustainable development, child care, distressed communities, and innovative public-private partnerships; those projects, will be eligible for additional award funding.

The deadline for applications is Friday, July 28, at 4 p.m. Open enrollment programs are not subject to the July 28 deadline and will continue to accept applications on an ongoing basis until funds are exhausted.

Officials said new this year, two new micro programs will award capital grants to support New York state craft beverage manufacturers and non-profit organizations, and a new $30 million Challenge competition will award $10 million to up to three regions to implement creative solutions to tackle persistent barriers to economic growth.

Also, for the first time since 2015, the councils will be tasked with updating their strategic regional economic development plans.

“Our Regional Economic Development Council Initiative continues to transform communities across the state, creating jobs and driving private investment all over New York,” Gov. Kathy Hochul said. “The launch of this latest round builds on state efforts to address our most pressing economic priorities—from sustainable development to the growing demand for childcare—all while empowering communities to tap into their regional strengths. Thanks to the work of the REDCs, New York is continuing to make the catalytic investments that foster economic growth and continued success in every corner of our state.”

Empire State Development President, CEO and Commissioner Hope Knight said, “While the Regional Economic Development Council Initiative has been a successful model for economic growth in New York state, we have been tasked to improve and enhance key programs that will expand on our many successes. Each region will update their strategic plans to re-establish their priorities for growth, continue to guide the deployment of resources, and create an updated road map for each region to achieve its economic vision for the future.”

Capital Region Jaguar Club Of New York To Hold Exhibition At Auto Museum In August

July 10, 2023

The lawn show portion of the Capital Region Jaguar Club of New York exhibition in August will be held on the grounds of the Saratoga Auto Museum in the Spa State Park.
Courtesy Capital Region Jaguar Club of New York

The Capital Region Jaguar Club of New York (CRJCNY) will hold its eighth Jaguar car show event in Saratoga Springs in August.

The lawn show portion of the event will be held on the grounds of the Saratoga Auto Museum in the Spa State Park. Past years have seen up to 40 classic and modern Jaguars such as XKs, Mark IIs, E-Types and newer F-Types, even a 1955 D-Type.

There may also be new models, possibly a 2023 Jaguar I-Pace Electric (subject to dealer availability).

Attendees are typically not just from the immediate Capital District but from around New York, New England and Canada, organizers said.

The program schedule is:

Friday, Aug. 18, dinner at the Gideon Putnam. It is not included in lawn show registration fee Attendance not required to participate in the Saturday lawn show.

Saturday, Aug 1., lawn show at Saratoga Auto Museum. (Rain date is Sunday, Aug. 20). It includes a car-care clinic, helpful tips on how to keep a Jaguar looking its best.

Kindred Opens On Henry Street As A Comfortable Place For Enjoying Wine

July 10, 2023August 30, 2024

Kindred at 84 Henry St. in Saratoga Springs opened in June at the location where owners Sonya and Ryan McFadden previously ran Flatbread Social.
Courtesy Kindred

by Ann Donnelly

Sonya and Ryan McFadden opened the wine bar Kindred at 84 Henry St. in June in Saratoga Springs, at the location where they previously ran Flatbread Social.

“We first got the idea of opening Kindred because of trends we saw,” said Ryan McFadden. “For the first time in a long time, people under 40 are becoming more interested in wine.”

The McFaddens, who also own Henry Street Taproom, aim to provide a warm and inviting space to enjoy a glass of wine with friends.

“Wine has a reputation of being an elitist beverage, and we want to help get rid of that stereotype. Ultimately, we want Kindred to be a comfortable place for people,” he said.

As they do with the beer selection at Henry Street Taproom, the glass and bottle list at Kindred will rotate to allow customers to try wines from different vineyards, focusing on wineries practicing organic winemaking. “There is nothing pretentious or elitist about Kindred. Wine is fun, and we look forward to sharing our selections with our customers.”

Business Report: Retired? Consider Benefits Of Part-Time Work

July 10, 2023

Robert Snell, financial adviser with Edward Jones Financial in Saratoga Springs.

By Rob Snell

After spending decades in the workforce, you might look forward to the day you retire. But if you decide, for one reason or another, that you’d like to redefine “retirement” to include part-time work or consulting, you could enjoy exercising your skills and meeting new people. But you can also receive some key financial benefits.

Specifically, bringing in some paychecks in your retirement can help you in these areas:

You could contribute more to your IRA. During your working years, you may have contributed regularly to an IRA, but once you retired, you might have thought those days were over. But there’s no age limit – if you have any earned income, you can contribute to an IRA and boost the financial resources you have available for retirement.

You could potentially lower your withdrawal rate. Once you’re retired, you will likely need to rely on your investment portfolio to provide you with some—or maybe most—of your income. Consequently, you’ll need to establish an appropriate withdrawal rate—a percentage of your portfolio that you can take out each year without running the risk of potentially outliving your money. Income from part-time work or consulting may lower your dependency on investment income, thereby reducing your annual withdrawal rate and extending the overall longevity of your investment portfolio.

You could add to your grandchildren’s 529 plans. When you invest in a 529 education savings plan, the earnings and withdrawals are federally tax-free, provided the money is used for qualified education expenses. As a grandparent, you can contribute to a 529 plan with your grandchildren as beneficiaries. And a 529 plan can be used for more than college – it can fund some programs at trade schools and K-12 expenses in some states.

Albany Medical Center Is Among First In U.S. To Join Vascular Verification Program

July 10, 2023

The Vascular Verification Program at Albany Med helps strengthen a hospital’s safety to enhance patient outcomes with greater reliability and standardization of care.
Courtesy Albany Med

Albany Medical Center, a member of the Albany Med Health System, is among the first four hospitals in the United States to be verified as part of the Vascular Verification Program (Vascular-VP), a program recently launched by the American College of Surgeons (ACS) with the Society for Vascular Surgery (SVS).

To receive verification, Albany Medical Center has shown a commitment to improving outcomes and care for patients receiving vascular surgical and interventional treatment in an outpatient setting.

“The Vascular Verification Program helps strengthen a hospital’s safety and continuous improvement culture to enhance patient outcomes with greater reliability and standardization of care. As one of the first hospitals to receive this verification, Albany Medical Center has shown its commitment to providing the highest quality care for vascular patients,” said Clifford Y. Ko, MD, Director, ACS Division of Research and Optimal Patient Care.

Albany Medical Center served as one of eight pilot programs to assist in the development of the verification standards. To become verified, the hospital had to meet elements of vascular surgical care and quality across nine domains, including institutional commitment; program scope and governance; resources for facilities, personnel, and services; clinical care; data abstraction and analysis; quality improvement; and education and research.

Business Report: Do Grandparents Have Visitation Rights?

July 10, 2023

Barbara King is a partner at Tully Rinckey PLLC, Attorneys & Counselors at Law.

By Barbara King

For grandparents, the relationship with a grandchild can be one of the most important things in the world. But what happens when the child’s parents prevent you from seeing or having a relationship with them?

Sometimes, the only recourse left to grandparents is to petition for grandparents’ visitation rights from Family Court. But do grandparents have visitation rights in New York?

Visitation rights vary from state to state, but generally speaking, grandparents’ visitation rights are not as extensive as those granted to the child’s biological or adopted parents. But grandparents do have a statutory right to petition for visitation, even if the child’s parents are unmarried, have been legally divorced or one is deceased.

These limited rights to visitation are not extended to aunts and uncles, great-grandparents, or other family members, except in circumstances where the child’s natural parents and grandparents have both passed away, or are otherwise legally barred from access to the child. Adoption is not a barrier to a biological grandparent’s rights to request visitation, but the child’s best interest, including health, safety, and welfare are the primary considerations.

What if the custodial parent is opposed?

The state of New York recognizes that a child’s parents have the fundamental right to raise their children in the manner they feel is best for the child, including who is or is not allowed to visit with them. As such, a Family Court will grant visitation rights to grandparents who have an already established relationship and/or have been denied access to their grandchild if it is deemed by the court to be in the child’s best interests.

AARP Study Urges Establishing Brain Health Screening As Part Of Aging Adult Check-Ups

July 10, 2023

Brain health is influenced by many factors, including economic and social factors such as income and financial security, housing conditions, environment, and access to nutritious food and exercise.

A new report from AARP and the Global Council on Brain Health (GCBH), “Building Better Brain Health for All People: GCBH Recommendations on Removing Barriers and Improving Opportunities Around the World,” takes these into account and offers recommendations for achieving greater brain health.

“If we want to improve brain health for all, we have to pay more attention to the needs of those at greatest risk of poor health and address social conditions that stand in the way,” said Sarah Lenz Lock, senior vice president of policy and brain health at AARP and Executive Director of the Global Council on Brain Health. “Cognitive decline is not inevitable, and everyone should have the opportunity to experience better brain health as they age.”

The report highlights the Six Pillars of Brain Health that can support the ability of individuals to positively affect their brain health. The pillars include exercise, intellectual stimulation, sleep quality, stress management, social engagement, and nutrition.

Recommendations in the report for addressing barriers to brain health are informed by the latest scientific findings and by lived experience of people with cognitive issues.

Business Report: The Evolving Role Of AI In Digital Marketing

July 10, 2023

Sara Mannix, president and CEO of Mannix Marketing.
Courtesy Mannix Marketing

By Sara Mannix

Artificial Intelligence is already being used daily in marketing agencies to conduct buyer persona research, data analysis, create designs and edit photography, and even build code.

As of this early stage, we have decided that while AI has its strengths, it works best when complementing the skills of a proficient marketer. I share the viewpoint of my colleague Karl Sakas, who aptly stated, “Anyone can create average work with AI. But if you want above-average work, you’ll need humans using AI.”

In the future, I envision AI playing a central role in streamlining various tasks within a marketing agency. For instance, my personal AI assistant would notify me of scheduled calls, such as an upcoming appointment I have with Alessandra in Italy. It would conduct research on Alessandra, her business, and her industry, providing me with valuable information before the call.

AI would enable real-time translation, voice mimicry, and visual alterations during the video call to ensure seamless communication. Once the call concludes, an email follow-up would be automatically generated, summarizing the meeting takeaways and next steps. These action items would also be added to my task management system and scheduled accordingly. Furthermore, I could delegate the task of writing a proposal to my AI assistant, which would send it on my behalf. Once engaged, the billing process would also be automated by AI.

In the creative department, the collaboration between the creative director and an AI designer would expedite the process of designing logos, taglines, branding colors, messaging pillars, and website concepts, all optimized to Google’s strictest standards. With the assistance of AI, the design process could be accomplished within hours as opposed to days. Subsequently, the website engineer would work alongside a coding assistant, utilizing AI to expedite the website development process, reducing it from months to hours.