jessewinters, Author at Glens Falls Business Journal

jessewinters

588 Articles

Business Report: Lake George Is Fun, Safe To Visit

July 16, 2020July 16, 2020

Gina Mintzer, executive director, Lake George Regional Chamber of Commerce.

By Gina Mintzer
The Lake George area’s tourism industry is responsible for an estimated 9,100 jobs and an annual economic impact of $629 million. Visitor spending in the region produces millions of dollars in sales tax revenue that offsets local property taxes and supports essential public services.
When the COVID-19 lockdown began, the Lake George Regional Chamber of Commerce continued to operate remotely, recognizing the need for strong communication between staff, board of directors, members, partners, and clients.
We quickly reacted, doing our best to monitor rapidly changing information and share that with our community to help them navigate this unprecedented time. During the lockdown we surveyed the business community in an effort to get information on their needs and then advocate on their behalf.
Realizing the potentially devastating effect of COVID-19 to our tourism economy, businesses and government embraced a collaborative spirit.

Grey Ghost Bicycles Inundated With Work As People Take To Cycling During Pandemic

July 16, 2020July 16, 2020

Niles Gagnon, Grey Ghost Bicycles sales manager, is masked for virus safety.
©2020 Saratoga Photographer.com

By Jennifer Farnsworth
Interest in bicycling has grown as a safe alternative for transportation, combating boredom and staying in shape during the COVID-19 pandemic.
Local bike shops, like Grey Ghost Bicycles in Glens Falls and Saratoga Springs, didn’t anticipate what that would mean for them. They have worked tirelessly to keep us with customer demand.
“I never in my wildest dreams could have imagined the spring we had,” said Grey Ghost manager Steve Fairchild.
With an established business in Glens Falls, Grey Ghost opened its second location in the plaza at 60 West Ave. in Saratoga Springs just before the pandemic hit. They were deemed by the state as an essential business, a determination that Fairchild said he thought may bring some challenges.
But he never expected to experience the demand that he saw almost immediately.
“As soon as the weather started to warm up in late March, early April, the demand just skyrocketed. Our inventory was almost immediately cleared out. Many of the bikes we sell are made in China and since most of the manufacturers closed, we couldn’t even order bikes. They just were not being made,” said Fairchild.

GlobalFoundries Buys Land; Eyes Expansion

July 16, 2020July 16, 2020

GlobalFoundries announced it has secured a purchase option agreement for approximately 66 acres of undeveloped land adjacent to what it calls its most advanced manufacturing facility, Fab 8 in Malta near the Luther Forest Technology Campus (LFTC).
The land parcel is located at the southeast end of the New York State Energy Research and Development Authority (NYSERDA) Saratoga Technology + Energy Park (STEP) campus, adjacent to Stonebreak Road Extension, between the Fab 8 facility and Hermes Road.
Exercising the option to purchase the land and commencement of development to expand the company’s Fab 8 facility will be subject to zoning regulations and client demand.

Hospital & Tourism Association Helps Educate Travelers On State Safety Standards

July 16, 2020July 16, 2020

The New York State Hospitality & Tourism Association is trying to use its platform to educate travelers on the new standards set in place by the New York State hospitality industry to make a guests’ stay as safe and comfortable as possible.
Lodging properties in the state are implementing operating guidelines that include enhanced cleaning protocols to protect the wellbeing of guests and employees in response to the pandemic, officials said.
Examples of operating guidelines and best practices set forth by hotels include:
• Increased cleaning and disinfecting of public spaces and communal areas.

Despite Building Closures, Senior Centers Provide Food Delivery And Virtual Activities

July 16, 2020July 16, 2020

The Moreau Community Center, like other senior centers in the area, is keeping in close contact with its membership and conducting programs stressing safety.
Courtesy Moreau Senior Center

By Susan E. Campbell
The high-risk elderly population has faced greater challenges than most other demographic groups during the coronavirus pandemic. But although their doors are temporarily closed, local senior citizens centers have made sure their members stay safe through outreach and by shifting programs into the digital realm.
As the staff of the Greater Glens Falls Senior Center moved work to their homes, they made calls to the 1,100 members to assess needs, according to Executive Director Kim Bren. In some cases, a senior services specialist was called in to arrange rides, although with social distancing requirement the center’s 12-person van could not transport more than one senior at a time.
“Many members who didn’t know exactly what we do are very appreciative and will be more active as we slowly get back to normal,” said Bren. “Staff has learned that talking to the members personally lets them hear different sides and opinions.”
Saratoga Senior Center also did one-on-one phone calls to nearly 2,000 seniors who were either active members or who had recently not renewed memberships, according to Lois Celeste, executive director.

Business Report: Lower ‘Reliance Rate’ During Retirement

July 16, 2020July 16, 2020

Meghan Murray is a financial advisor with
Edward Jones Financial in Queensbury.

By Meghan Murray
If you have decades to go until you retire, you don’t need to panic over volatile financial markets. You have plenty of time to regain lost ground and potentially achieve more growth in your investment portfolio.
But what if you are nearing retirement or already retired? After all, you will probably need to draw on your investments to pay for some of the costs associated with housing, food and the many other expenses you incur in daily life. So, is a down market cause for alarm?
It shouldn’t be. And you can help reduce your stress level by understanding your “reliance rate.” As its name suggests, your reliance rate tells you how much you rely on your portfolio—rather than other sources, such as Social Security or a pension—to meet your income needs during retirement.

U.S. Census Bureau: Age Group Of 65 And Older Exhibits Rapid Growth Since 2010

July 16, 2020July 16, 2020

The U.S. Census Bureau released estimates showing the nation’s 65-and-older population has grown rapidly since 2010, driven by the aging of Baby Boomers born between 1946 and 1964.
The 65-and-older population grew by over a third (34.2 percent or 13,787,044) during the past decade, and by 3.2 percent (1,688,924) from 2018 to 2019. The growth of this population contributed to an increase in the national median age from 37.2 years in 2010 to 38.4 in 2019, according to the Census Bureau’s 2019 population estimates.
“The first Baby Boomers reached 65 years old in 2011,” said Dr. Luke Rogers, chief of the Census Bureau’s Population Estimates Branch. “Since then, there’s been a rapid increase in the size of the 65-and-older population, which grew by over a third since 2010. No other age group saw such a fast increase. In fact, the under-18 population was smaller in 2019 than it was in 2010, in part due to lower fertility in the United States.”

Showcase Of Homes Event Canceled By Pandemic Concerns; Online Presence Planned

July 16, 2020July 16, 2020

This year’s “live” Showcase of Homes has been canceled by the Saratoga Builders Association due to public health and safety concerns from the COVID-19 pandemic.
The event this fall would have been he 25th for the organization.
This annual community event has contributed over $1.3 million dollars to local charities over the years.
Though the organization has dropped the “live” tour for 2020, officials said there will be special alternative programming this fall in several forms—online, virtual and TV—to celebrate “our builder’s homes and developments, plus provide a way for you to contribute to our two important local charities that normally benefit from ticket sales,” the group said in a statement. “The Showcase Committee is working on the details” and more information will be released in August.
“We are thankful for all the generous support of this annual event over the years and look forward to presenting the 2021 Saratoga Showcase of Homes next year as we celebrate our 25th anniversary,” the group statement said.

Renovation, Rebuild Of Thruway Rest Stops Will Start This Year By Investment Group

July 16, 2020July 16, 2020

This is a rendering of what new rest stops along the New York State Thruway will look like. Officials say upfront costs won’t fall on toll payers.
Courtesy State Thruway Authority

New York’s Thruway rest areas are in line for a major makeover.
The state Thruway Authority board of directors has approved a $450 million, 33-year deal that will require a private consortium to revamp all 27 service plazas along the 570-mile superhighway system in the coming years.
Officials said the upfront costs will not fall on toll payers.
Instead, a consortium, known as Empire State Thruway Partners, will spend $300 million to rebuild 23 rest stops and extensively renovate the remaining four, with construction set to begin next year.
It will also be required to pay the Thruway Authority at least $51 million in rent and invest another $103 million in improving the rest stops over the course of the three-decade-long contract, according to the Thruway Authority.
In exchange, the consortium led by the John Laing Group, a private investment firm, will get to operate the restaurants, shops and facilities at the rest stops for 33 years.

Regan Development Nearing Completion Of Broad Street Commons Apartment Project

July 16, 2020July 16, 2020

Construction of Regan Development Corp.’s Broad Street Commons, a four-story mixed-use complex located in Glens Falls, could be occupied in January.
Courtesy Regan Development Corp

By Lisa Balschunat
A 12-month construction project to build a new affordable housing complex on Broad Street in Glens Falls, begun in November 2019, is targeted for occupancy next January, according to the developers.
Larry Regan, president of Regan Development Corp., said over 60 workers have been involved in the apartment rental project that features 71 affordable housing units, among them 11 one-bedroom apartments designed for individuals with intellectual and developmental disabilities.
There will also be 6,300 square feet of retail space.
Deemed as an essential project during the state’s shutdown due to the coronavirus, Regan said he was pleased with the way the governor’s office provided the construction industry with necessary programs and information to work safely.
“Every Glens Falls department has been incredibly helpful and great to work with,” Regan said. “Glens Falls has all of its pieces in place. It is positioned for growth and opportunity. I am happy to be a part of it.”
Additionally, Regan has been working closely with AIM Services to design the 11 specialized units to serve an important community need.