Glens Falls Business Journal

Subway Store Will Be Part Of Plaza Project On Route 9 In Queensbury; Set To Open In May

March 13, 2020March 16, 2020

This is a sketch of the plaza being built in Queensbury. The $2.2 million, 11,800-square-foot plaza will include a Subway and a Spectrum office.
Courtesy Russ Faden

By Christine Graf
Local entrepreneur Russ Faden is finishing construction on a $2.2 million, 11,800-square-foot plaza at 894 Route 9 in Queensbury.
The project was financed through Pioneer Bank. Once construction is completed, Faden will relocate his Subway franchise currently at 870 Route 9. In addition to Subway, the plaza will be home to Sports Clips and Spectrum.
There are two additional spaces available for rent, he said. The vacant spaces measure 1,700 square feet and 2,400 square feet.
According to Faden, he hopes to have his Subway relocated and operational by May 15. He expects Sports Clips and Spectrum to open some time in June.
Faden operates 18 Subway locations between Northway exits 9 and 20. He employs approximately 100 full-time and part-time employees. Faden and his wife, Carrie, purchased their first Subway in downtown Saratoga in 2007. At the time, he was a full-time officer in the Saratoga Springs Police Department.

Owners Of Grey Ghost Bicycles In Glens Falls Have Expanded With New Saratoga Shop

March 13, 2020March 16, 2020

Grey Ghost Bicycles, based in Glens Falls, has opened a new store in Saratoga Springs, located at 60 West Ave. The new retail space is more than 2,000 square feet.

Grey Ghost Bicycles in Glens Falls has opened a new store in Saratoga Springs.
Located at 60 West Ave., the new retail space is more than 2,000 square feet and is part of the larger retail strip building that contains other businesses such as Wolberg Lighting Design & Electrical Supply.
According to Steve Fairchild, general manager of Grey Ghost Bicycles, the existing space only needed light modifications, including cleaning and painting, which is being done by the company.
Launched in 2012, Grey Ghost Bicycles is a full-service bike shop. Along with e-bikes and professional mountain and racing bikes, they also sell bikes for children and casual riders. The company recently moved their main store into the former Post-Star building in Glens Falls.

79th Harness Racing Season Is Underway At Saratoga Casino Hotel With $15M In Purses

March 13, 2020March 16, 2020

Casino officials will look to build on the success of last year’s performance, where all-source handle exceeded $48 million and racing was simulcast to over 400 outlets worldwide.
Courtesy Saratoga Casino Hotel

Saratoga Raceway’s 79th season of live harness racing is underway at Saratoga Casino Hotel.
Coupled with the 2020 racing season is the unveiling of the SaratogaBets Simulcast Center, a new trackside venue offering carrel seating, self-service and live teller wagering options, in addition to bar and food service at Diamond Jim’s.
This season the casino will look to build on the success of last year’s performance, officials said, where all-source handle exceeded $48 million and the Saratoga Harness simulcast signal was broadcast to over 400 outlets worldwide.
“We’re very excited to welcome fans back for the 79th year of harness racing,” said John Matarazzo, director of racing operations at Saratoga Casino Hotel. “We look forward to continuing our tradition of exciting and quality racing here at the historic Spa Oval.”

Open Door Mission Expands New Clothing Pantry, Food Pantry, Barber Shop, Bathrooms

March 13, 2020March 16, 2020

The Open Door Mission in Glens Falls expanded its space recently, including the addition of this food pantry available to people in need.
Andrea Harwood Palmer

By Andrea Harwood Palmer
The Open Door Mission in Glens Falls recently unveiled expanded space— a clothing pantry, food pantry, barber shop, three new bathrooms, showers and a storage area.
It was built through partnership with area organizations such as CDCHP, Hannaford Supermarket, Habitat for Humanity, Hilltop Construction, Fenimore Asset Management, the Glens Falls Foundation, AJA Architectures, electrician Brian Hayward, area churches, and the UA Plumbers & Steamfitters Local 773 of Glens Falls.
The shelter offers emergency Code Blue shelter to people when temperatures drop in winter months.
Hannaford Supermarket donated funds as well as materials and 100 cases of food to stock the food pantry, in December when the food pantry first opened. The pantry served 218 families in February.

Freedom Boat Club Lake George Helps Child’s Museum Develop A Boating, Fishing Exhibit

March 13, 2020March 16, 2020

Freedom Boat Club Lake George has partnered with the Children’s Museum at Saratoga on a new boating and fishing exhibit.
The Saratoga Lake – Let’s Go Boating exhibit will be an interactive, kid-friendly, and colorfully immersive exhibit. It is designed to help young children utilize play as a means to enhance their social and emotional development, as well as learn how to communicate, observe and problem solve with one another as they navigate their way through the exhibit, officials said.
The Saratoga Lake exhibit joins long-time museum favorites like the theater, trolley, firetruck, diner, grocery store and bandstand, as well as another brand new exhibit, the barn.

Financial Advisors Urge People Not To Panic As Coronavirus Causes A Stock Market Stir

March 13, 2020March 16, 2020

Ryan Bouchey, CFP and vice president at Bouchey Financial Group.
Courtesy Bouchey Financial Group

By Jill Nagy
Some investors may be panicking, but at least two local brokers are keeping their cool, advising a wait-and-see approach to managing assets.
“Focus on the big picture and don’t react to every headline that comes up,” said Ryan Bouchey, CFP and a vice president at Bouchey Financial Group, on the first day of the market decline in response to news of the coronavirus, which has caused the stock market to plunge.
“It’s still a strong economy and most clients are fairly optimistic,” said Steve Kyne CFP and partner at Sterling Manor Financial. His independent financial planning company has been around since 2006. There have been ups and downs, he said, “We’ve weathered our share.”
Bouchey urged people “not to be too greedy” and to try to protect against unexpected risks.

NBT Bank Implements Several Digital Initiatives Across Multiple Business Lines

March 13, 2020March 16, 2020

NBT Bancorp Inc. has executed on digital initiatives based on a technology road map with the objective of delivering features and functionality customers want and need, company officials said.
This road map includes the 2020 implementation of several digital initiatives across multiple business lines that will continue to transform the experience NBT delivers to its customers and employees.
“All of our customers expect ever-increasing flexibility, accessibility and speed to manage their finances,” said NBT President and CEO John H. Watt Jr. “Strong adoption of our mobile and online banking services and recognitions like our high ranking on the Forbes 2019 World’s Best Banks list and the 2019 Greenwich Awards in Small Business Banking and Middle Market Banking indicate our customer-first approach to NBT’s digital evolution is being well received.

Homestead Funding Office In Glens Falls Is Growing At The Close Of Its Second Year

March 13, 2020March 16, 2020

In 2017, Maureen Ginter-Grabowski and John Homkey opened a Homestead branch.

By Andrea Harwood Palmer
The Glens Falls branch of Homestead Funding is finishing it’s second year in strong fashion and building its team of in-house loan officers.
Maureen Ginter-Grabowski is the branch manager and senior loan officer of the branch, located at 3 Warren Street, Suite #3A.
John Homkey is a licensed loan originator, and opened the Glens Falls branch with Ginter-Grabowski in 2017.

Charles V. Wait Jr. Named President, CEO At Adirondack Trust Co. Succeeding von Schenk

March 13, 2020March 16, 2020

Charles V. Wait Jr. became the new president and CEO at Adirondack Trust Co.
©2020 Saratoga Photographer.com

Charles V. Wait, Adirondack Trust Co.’s chairman of the board of directors, announced a senior leadership appointment and an officer promotion within the bank’s management team.
Charles V. Wait Charles V. Wait Jr., has become the organization’s new president and CEO, an appointment that was approved by the board of directors, effective Feb. 12. Wait Jr. succeeds Stephan R. von Schenk, who acted as company president since 2014 and CEO since 2017.

Washington County Local Development Corp. Reviewing 10 New Loan Applications In 2020

March 13, 2020March 16, 2020

Deanna Derway, executive director. Washington County Local Development Corp.

By Susan E. Campbell
The Washington County Local Development Corp. (WCLDC) closed the year more quietly than in the recent past. But already in 2020, there are 10 new applications for loans in contrast to the five new loans that ultimately closed in 2019, according to Deanna Derway, president and executive director.
“Loans were made to a variety of different and unique companies, officially crossing the $18 million mark for total funding lent since the Corporation began in 1985,” said Derway, who has been with the WCLDC since mid-2008 and has headed it up since 2013. “That is a significant amount of funding across businesses in Washington County.”
January through March is the state reporting season for WCLDC, along with any other entity with public funding, and Derway has been busy with spreadsheets.
“Compared to the past four years, activity in 2019 was a little quieter,” she said. “We have nearly $700,000 to loan right now.”