Category Archives: Business News

Parts of New York’s economy in some areas of the can begin reopening in phases, but not the Capital Region, Gov. Andrew Cuomo announced on May 11.

At press time, some of the phasing-in could have started as of Friday, May 15.

Members of  the group in the Capital Region leading the reopening effort include Robert Henke, Washington County board of supervisors vice chairman, and Ryan Moore, Warren County administrator.

Other members are  Ruth Mahoney, Regional Economic Development Council co-chair and Albany market president for KeyBank; Mike Blue, Capital District Area Labor Federation president; Dan McCoy, Albany County executive; Steve McLaughlin, Rensselaer County executive; Rory Fluman, Schenectady County manager; Spencer Hellwig, Saratoga County administrator; Shaun Groden, Greene County administrator; Matt Murell, Columbia County board of supervisors chair, and Albany Mayor Kathy Sheehan.

Only 31 percent of CEOs expect the New York state economy to return to pre-virus levels of revenue and employment within the next six months according to a special Upstate New York Business Leader COVID-19 Survey from Siena College Research Institute (SCRI), sponsored by the Business Council of New York State, Inc. released in April.

Similarly, while only 5 percent have not suffered due to the virus and 35 percent think that their business will recover within six months, a quarter say by the end of 2020 and 35 percent don’t think their business will return to pre-virus levels until 2021.

“The results of this poll showed what many expected; businesses are hurting, especially smaller businesses and those in sectors whose operations have been most impacted by the reasonable state-imposed restrictions. Perhaps the most encouraging result showed employers expect their own companies and their industry sectors to recovery by early 2021,” said Heather Briccetti, president and CEO of The Business Council of New York State. “At The Business Council we will continue to work with our elected leaders to convey the needs of the business community for a successful economic restart, recognizing that this will only be done as fast as public health considerations allow.

“The good news is, there’s real opportunity for New York state to partner with the private sector, who understands what it will require to ensure a stronger economy moving forward.”

Tanya Tobias-Tomis is the new executive director of the Lake George Arts Project.

She replaces longtime director John Strong, who retired.

Tobias-Tomis has close to two decades of nonprofit experience, including 12 years at Saratoga Arts, most recently in her role as associate director. She worked on many projects there, projects, including Art@Work + Home program and First Night Saratoga.

The Lake George Regional Planning Board is helping the region’s small businesses by offering working capital micro-loans for enterprises within Clinton, Essex, Hamilton, Warren, and Washington Counties.

The loans will be available for businesses that have been adversely affected by the COVID-19 outbreak. The funds are not to be used to pay off existing debt, refinancing other loans, acquire a position in business, purchase of equipment, investments, expansion, or personal expenses.

Lake Champlain and Lake George Regional Planning Board controls their regionally based Revolving Loan Fund program (RLF). This program provides financing throughout the area in order to support small business growth. The RLF program provides low-cost, short-term financing to businesses that are unable to obtain regular financing from the bank, officials said.

More than $13 million in loans have been distributed to start-ups and business expansions in the five-county region.

The Retail Council of New York State has  launched RetailNewYork.com, an online directory for independent Main Street merchants of all sorts from throughout the state.

“Their stores might be closed for now, but they’re open for on-line and phone orders and ready to ship right to your door,” said Council  President and CEO Ted Potrikus. “We want to fill the site with contact information for stores of every sort. These are the Main Street merchants who need our support.”

“While we’re all waiting it out indoors, RetailNewYork is a great way to find your favorite stores and work out some retail therapy,” he said.

The council is also asking shoppers to support their local businesses by going online and leaving a review, referring a friend, or liking, commenting on or sharing the business’ social media links.

Listing on the directory is free for Retail Council members and, through at least Aug. 31, for stores that are not yet members of the statewide association, Potrikus said.

The state Department of Labor has launched an application for New Yorkers to apply for traditional unemployment insurance or the new COVID-19 Pandemic Unemployment Assistance.

Officials said the one-stop-shop for unemployment benefits will connect people with the benefits they deserve faster, without requiring them to call the Department of Labor.

Due to cumbersome federal guidelines, New Yorkers were required to apply for regular unemployment insurance and be rejected before applying for Pandemic Unemployment Assistance. With the new app, New Yorkers can simply fill out one form to get the correct benefits.

The DOL has also deployed over 3,100 representatives dedicated to answering unemployment benefit questions, seven days a week. This is up from 400 who previously manned the DOL call center prior to the pandemic.

Since the COVID-19 crisis began, DOL has paid approximately $2.2 billion in unemployment insurance benefits to 1.1 million New Yorkers, officials said.