Saratoga Business Journal

The Construction Of Brookmere Is Almost Complete And Resort Is Welcoming Guests

January 20, 2025

Community members and visitors to the area alike can enjoy excellent French-inspired cuisine at Brookmere Resort’s Regent Restaurant.
Courtesy of Bonacio Construction

By Rod Bacon

The initial phases of Saratoga Springs’ newest resort have been completed and it has started to accommodate guests.

Brookmere, the reimagining of the former Longfellows Hotel and Restaurant, has been under construction since 2023 and the final phase will be finished early next month.

According to Amber Mathias, director of project development for the Bonacio organization, the Regent Restaurant & Bar is open as well as 28 guest rooms in the renovated annex building. Of those guest rooms, four are spa-specific. The building also houses the Arbor Spa.

The final phase is a three-story new building that is connected to the old barn by the new ballroom and courtyard. The first floor is currently open to the public. Next month the guest rooms on the second and third floors will be available to the public.

General Manager Julian Miller said that to introduce the resort to the community some rooms are being offered for $179 a night for the next several months.

Love Our Locals $20.24 Campaign Successful Boost For The Saratoga County Economy

January 20, 2025

Todd Shimkus was helped by residents and business owners in Love Our Locals campaign.
Courtesy of Saratoga County Chamber

The Saratoga County Chamber of Commerce’s award-winning Love Our Locals Campaign had another record-breaking year in 2024, with more than $315,243 spent supporting the local economy.

As part of the end-of-year program, shoppers and donors were encouraged to submit their receipts of $20.24 or more spent at a Saratoga County business or donated to a local nonprofit to be entered in a gift card giveaway.

Nearly 3,500 receipts were submitted over the eight-week campaign, and dozens of lucky participants were rewarded for supporting local as gift card winners.

In the initiative’s past four-years, more than 10,000 receipts have been submitted totaling $843,616.

Love Our Locals $20.24 was generously sponsored by SaratogaWine.com and more than 50 area businesses that donated gift cards.

This campaign started as Save Our Locals $20.21, which resulted in more than 2,000 entries from locals whose purchases directly aided in the county’s economic rebound from COVID-19 restrictions.

In 2022, the Save Our Locals program was recognized with a New York State Tourism Excellence Award from the New York State Tourism Industry Association.

The campaign was renamed Love Our Locals in 2022, and it remains a popular and purposeful initiative for the Chamber, the business community and the impact sector in Saratoga County.

The $315,243 total reached in 2024 is more than $100,000 more than the previous year’s Love Our Locals total of $206,384. About 1,000 more receipts were submitted to help reach this goal.

Capital Investment Is Off To An Excellent Start In Saratoga County For 2025

January 20, 2025

J. Gregory Connors, president and CEO of the Saratoga Economic Development Corp.
Courtesy SEDC

By Greg Connors

In 2024, with just over $177M in new investment, the planned creation of approximately 650 new full-time job opportunities and the successful retention of over 200 jobs, economic development in Saratoga County has experienced a successful year.

In 2024, we also welcomed the arrival of both Regeneron and Soleno our 2 newest international companies to call Saratoga County home and the good news of the planned expansion of GlobalFoundries in Malta & Stillwater.

As we look into our 2025 crystal ball and measured by the early activity and potential projects being considered at this early date, at SEDC, the economic outlook for Saratoga County is very good.

Saratoga County’s quality of life with safe neighborhoods, internationally recognized educational opportunities, world-class arts, cultural and entertainment venues, the birthplace of thoroughbred horse racing, National Parks, 4-season recreational offerings and diverse employment opportunities each by themselves, and more valuable collectively, will support SEDC’s efforts in 2025 to create new investment, new opportunities, job creation and retention.

For the economic sectors we concentrate on, strong interest in expansion at existing sites or new investments in advanced manufacturing, life sciences, the equine industry, healthcare, commercial, industrial and workforce housing will make for a robust collection of opportunities that all residents in the county will benefit from. Strong early interest in the advanced manufacturing supply chain, renewable energy sector and life science represent sectors not previously found at the top of the county’s economic development opportunity list.

Area Non-Profits Have Until January 31 To Apply For Share Of Stewart’s Holiday Match

January 20, 2025

A customer donates to Stewart’s annual Holiday Match program, which helps fund non-profit organizations in the company’s market area.
Courtesy of Stewart’s Shops

By Paul Post

Area non-profits have until January 31 to apply for a portion of the $1.76 million raised by Stewart’s Shops’ annual Holiday Match program.

Customers of the company’s more than 350 stores donated over $883,500 between Thanksgiving and Christmas Day.

The company has doubled those donations, penny for penny with no administrative fees, meaning hundreds of non-profit children’s organizations will benefit as money is distributed in coming months.

“We’re really thankful to all of our customers and thankful to all of our shop partners for doing a really great job collecting donations,” said Jennifer Frame, Stewart’s director of corporate philanthropy.

This year’s Holiday Match total was down from the more than $2 million raised last year because there were five fewer collection days, as Thanksgiving came later than normal.

“But collections per day were really strong considering how tough the economy is,” said Robin Cooper, company spokesman. “It was tough for a lot of people financially, but they still gave.”

Hewison Aviation To Open Third Location To Train Commercial And Private Pilots

January 20, 2025

Maura and Christopher Hewison have established a flight school at the Saratoga County Airport to train aspiring pilots.
Courtesy of Hewison Aviation

By Susan Elise Campbell

For anyone north of the Capital District dreaming of learning to fly, the opportunity is now closer than ever. Husband-and-wife team Maura and Christopher Hewison have announced a third location for Hewison Aviation: the Saratoga County Airport, now under expansion and on track for a spring 2025 completion date.

“We were looking to get into Saratoga for the last two years,” said Maura, who is operations manager for the flight academy Christopher founded in 2014 upon receiving his CFII. “Two of our instructors live in Saratoga and have been training clients at the South Albany Airport in Selkirk.”

Operating out of Saratoga not only makes the commute easier for these instructors, but also opens up a clearer path for prospective pilots residing or working within a large radius around the county.

Hewison Aviation also has a presence at Griffiss International Airport in Rome, NY.

“There is no civilian flight training in Saratoga now, but there is a helicopter flight school,” said Hewison. “They send us flight students and we send them helicopter students.”

A New Luxury Condominium Project Is Underway In Downtown Saratoga Springs

January 20, 2025

The residential/commercial project currently under construction in Saratoga Springs will offer well-appointed condominium units and space for businesses when completed later this year.
Couresy of Bonacio Construction

By Rod Bacon

A mixed-use project is well on its way to completion in downtown Saratoga Springs.

A topping off ceremony marking the placement of the final steel beam was held recently at 78 Church Street Condominiums. The beam was signed by many of those involved in the project, including the company’s real estate arm Julie & Co. Realty LLC, the development group, Bonacio Construction, and Bonacio Steel.

The project, being built by Bonacio Construction, received approval September 6, 2024, and ground was broken immediately. A completion date of September of this year is targeted.

The building is replacing a single-story structure that housed storefronts, most notably Carpetland.

According to Director of Project Development Amber Mathias, the approximately 72,000-square-foot building will house 23 residential condominiums as well as two commercial units on the ground level. She noted that the commercial units are appropriate for retail or office space.

Arrow Bank Aims For Significant Growth With Rebrand And Regional Expansion

January 20, 2025

Two local community banks have been rebranded under the Arrow Bank name with the aim of increasing market share in the Capital District. Courtesy of Arrow Bank

By Paul Post

Arrow Bank’s newly rebranded name is taking aim at greater Capital Region market share.

The moniker replaces Glens Falls National Bank & Trust Company and its affiliate, Saratoga National Bank & Trust Company, which have operated together since the latter’s company’s formation in 1988.

The newly-named Arrow Bank is a subsidiary of Glens Falls-based Arrow Financial Corporation.

“We’ve been successful with the two brands, but in some instances the name has held us back a little bit,” said David S. DeMarco, corporation president and CEO. “If you go into a new market and you’re a strong company that’s got the name Arrow Bank it should be well perceived versus, ‘Wait a minute, I thought your bank was in Saratoga or Glens Falls.’ ”

“We have a very small market share in the Capital Region,” he said. “That’s really where our growth will be. That’s our target.”

A crowd of company officials and well-wishers recently gathered outside Glens Falls offices to celebrate the new designation, which took effect January 1.

Economic Outlook 2025: Mixed Challenges In The Building Trades

January 20, 2025

Doug Ford, vice president, sales and marketing, Curtis Lumber.
Courtesy Curtis Lumber

By Doug Ford

As we step into 2025, I remain optimistic about what lies ahead for the construction industry, even though there is much uncertainty. The construction industry, along with companies supporting it like Curtis Lumber, faces a year that will blend both opportunity and caution. Let’s take a closer look at what we know, what we think we know, and the unknowns that could influence the year ahead.

The outlook for construction in 2025 is generally optimistic, especially for residential and multifamily projects. Nationally and locally, growth is expected, but experts predict commercial construction will slow compared to previous years. Residential and multifamily construction remains robust as demand for housing continues, despite challenges such as rising interest rates.

That said, there are still plenty of unknowns that could impact the industry. Much of this uncertainty stems from the new administration and its policies. Changes in leadership can significantly impact the construction sector, especially when it comes to regulation and funding for infrastructure. We are likely to see a focus on reducing regulations and prioritizing traditional infrastructure and energy projects, which is positive for the industry. However, there may be less emphasis on renewable energy projects, and potential labor impacts due to stricter immigration policies or rising tariffs could add costs. Only time will reveal how these factors will play out.

A major concern for the construction sector is the ongoing labor shortage. According to a recent AGC survey, over 90% of contractors struggle to fill positions across all levels. Despite efforts to raise awareness and encourage more people to pursue careers in the trades, these challenges persist. Locally, the Northeast Construction Trades Workforce Coalition (www.NCTWC.org), which I co-founded with Pam Stott, is working to bridge this gap by increasing awareness of career opportunities in the construction trades. Research has shown that many young people are unaware of the trades, largely due to a lack of accurate information provided by school counselors (no fault of theirs) and parents. Through our extensive research we have realized the construction industry has done very little to engage with the schools and provide the tools and resources necessary for the counselors. Additionally, parents are basing their knowledge of the trades on what they saw growing up, which is very different today.

Economic Outlook 2025: Saratoga County Well Positioned For 2025

January 20, 2025

By Todd Shimkus

As we head into 2025, Saratoga County is extremely well-positioned for the future.

Let’s take a look at what we already have marked on the calendar for the new year.

Major employers Regeneron and GlobalFoundries are expanding in our county. These investments indicate growth for our local economy, and we hope it will attract talented employees to our one-of-a-kind region where its truly possible to “Live Like You’re On Vacation.”

With one year of experience under our belts, the area is set to host the 2025 Belmont Stakes Racing Festival in early June. The event will feature five days of racing at Saratoga Race Course (one more than in 2024) – and we are thrilled to present another Belmont on Broadway concert to kick off the festivities in Saratoga Springs.

Plus, a special July 4th Racing Festival will serve as a prelude to the traditional summer meet. These extra four days of racing are sure to bring some added vibrancy to Saratoga for Independence Day, and we hope that folks from near and far will join us for Saratoga’s All-American Celebration, an annual tradition organized by our Chamber that features live music and a spectacular fireworks display in the City’s downtown business district.

The 2025 Saratoga Performing Arts Center entertainment schedule, which will run from May to September, is also shaping up to be an extraordinary season. Appearances by Avril Lavigne, Thomas Rhett, Rod Stewart, Weird Al Yankovic, Goo Goo Dolls, Styx and Shania Twain have already been announced by our friends at Live Nation, along with the return of the Saratoga Jazz Festival as well as the New York City Ballet and the Philadelphia Orchestra for their 2025 seasons in their summer home at SPAC.

Tree House Brewing Company’s highly anticipated new Saratoga Springs location, which recently started offering beer-to-go, is slated to open its taproom to the public in 2025. This will be the brewery’s seventh location and its first in New York state, and it will certainly be a popular destination for beer-lovers.

Economic Outlook 2025: AI Is A Helpful Tool In Market Research

January 20, 2025

Neal Sandin, President of 643 Research is a full-service qualitative market research company.

By Neal Sandin

AI continues to permeate into society, spreading to every corner of our homes and workplaces. People are using it to help make emails more professional and resumes more appealing. Unfortunately for market research, some are using it to answer questions.

This is a significant issue. The entire purpose of qualitative market research is to understand people’s unique wants, needs, and desires, as well as the issues and barriers they struggle against. If respondents provide us with AI-generated responses instead, we are failing on a fundamental level. After all, AI generates answers that are compiled from huge amounts of data from millions of users. While undoubtedly useful, it cannot accurately reflect the unique circumstances of the individual. AI can tell us where the rents are rising, but it cannot tell us the feelings, emotions, and hopes of a specific tenant.

One obvious solution is to simply rely less on methodologies such as online bulletin boards, which allow users to reply to questions at their leisure. Face-to-face interaction, either in-person or via Zoom or Teams, precludes using generative AI like Chat GPT. Direct connection would seem to make for more engagement and better results.

However, sometimes online bulletin boards are the best tool for the job, such as when people try a product over the course of several days. Nor has there been a significant drop in the use of online bulletin boards, or similar forms of market research, since the advent of Chat GPT or other AI tools.

Another solution is to simply disregard AI generated answers and replace those respondents. This is possible when the AI is obvious, but as teachers and professors around the world can attest, no person or program can infallibly identify AI-generated responses.

So, the question becomes, why? Why do people use generative AI instead of giving their own opinion? It is easy to fault the respondents, saying that they are lazy or in it for the money. That may occasionally be the case, but the answer is hardly that simple. After all, most people want to have their opinions and frustrations heard and taken seriously. Yet, some turn to AI to generate a response. It is disheartening to find that when asking for a personal opinion (in a confidential and safe setting), people do not feel empowered to give it.