Glens Falls Business Journal

The ARCC President’s Love Of The Area Helps Her To Guide The Organization Forward

March 17, 2024

Tricia Rogers is President and CEO of the Adirondack Regional Chamber of Commerce.

By Jill Nagy

Tricia Rogers, the President and CEO of the Adirondack Regional Chamber of Commerce (ARCC), grew up in the Glens Falls area and, except for her college years, never left.

“I love this area,” she said, and enjoys working with people she has known “forever.”

Rogers came to work at the ARCC as membership manager almost eight years ago. When her predecessor as President and CEO announced plans to retire, she applied for the position and was hired. She came on as head of a thriving organization with a new strategic plan in place.

Among other projects, the strategic plan aims to encourage member businesses to look outside traditional ways of hiring employees. A recent alternative workforce hiring panel, moderated by Rogers, focused on ways to reach groups such as the formerly incarcerated, veterans, disabled people, refugees, and other sometimes marginalized populations. There are plans to expand on this conversation in the future.

Meanwhile, 2023 was a busy year for the ARCC: 42 ribbon-cuttings in 2023, 143 new members bringing total chamber membership to 824, and 60 events attended by some 2,900 people. She attributes much of that growth to “increased engagement and support in the community.”

Business Report: Investment Ideas For Business Owners

March 17, 2024

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

Provided by Meghan Murray

By definition, business owners put a lot of their financial resources into their enterprises. But as an owner, you may need to invest in more than inventories and payroll to help achieve the future you’ve envisioned.

Here are a few investments you may want to consider:

• Retirement account – Depending on the nature of your business and how many employees you have, you can choose from a variety of tax-advantaged retirement plans, such as an owner-only 401(k), an SEP-IRA and a SIMPLE IRA. By contributing regularly to one of these accounts, you can avoid being entirely dependent on the sale of your business to pay for your retirement years.

To fund your 401(k) or other retirement plan, you’ll have many investment options — stocks, bonds, mutual funds and so on. And if you “max out” on your retirement plan, you may even be able to build a separate investment portfolio. In any case, keep in mind that you’re already putting a lot of money into your business, so, to achieve a level of diversification, you may want to concentrate your investment choices in areas outside your industry. However, while diversification can help reduce the impact of market volatility on your portfolio, it can’t guarantee profits or protect against losses in a declining market.

• Property – Your physical space is a key part of your business’ success. So, you may want to invest some time in comparing the pros and cons of renting versus owning. Of course, owning your building may require a big financial commitment, and it may not be feasible, but it could free you from worrying about untimely rent increases.

Working In Tandem, Hedley & Co. And HK Wealth Management Serves Variety Of Clients

March 17, 2024March 28, 2024

Matthew Burnell, Financial Advisor HK Wealth Management Group.

by Christine Graf

Clifton Park-based Hedley & Co., CPAs, provides tax and accounting services to individuals and small and mid-size businesses. Founded by Kevin Hedley, a CPA with 30 years of experience, the firm also offers Internal Revenue Service and New York State Department of Taxation and Finance representation to clients.

HK Wealth Management, the financial planning arm of the business, focuses on a wholistic approach to financial planning offering investment services, retirement planning, insurance, estate planning and how this all integrates with the clients tax situation.

“For regulatory purposes, the businesses have to be separate, but they work in tandem,” said Matthew Burnell, Financial Advisor at HK Wealth Management and tax accountant at Hedley & Co., CPAs. “For most of our investment clients, we also prepare their taxes. We’re more than just a broker doing their investments.”

According to Burnell, HK Wealth Management prepares comprehensive financial plans that are tailored to the specific needs of each individual client.

“We work with individual investment accounts and retirement accounts. We run some smaller 401k and retirement plans for local businesses, and we also help with estate planning as well as a small amount of life insurance.”

Depending on the size of the account, financial advisors meet quarterly, semi-annually, or annually with clients. In the interim, advisors are always available to answer questions.

The Glens Falls National Bank Acquires The Whitehall Branch Of The Berkshire Bank

March 17, 2024

Arrow Financial Corporation (NasdaqGS® – AROW) has announced that its bank subsidiary, Glens Falls National Bank and Trust Company, has entered into a definitive agreement with Berkshire Bank, a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE: BHLB), under which Glens Falls National Bank will acquire the branch office at 184 Broadway in Whitehall.

The sale is targeted for completion by the end of the third quarter of 2024, subject to customary regulatory approvals. Following the anticipated completion of the sale, Glens Falls National Bank will operate a total of nine branches in Washington County.

“We are thrilled to announce the acquisition of the Whitehall location from Berkshire Bank, and we are eager to welcome its customers to our Arrow Family of Companies,” said Dave DeMarco, President and CEO of Arrow Financial Corporation and Glens Falls National Bank. “This strategic move marks a milestone in our growth and underscores our commitment to expanding our market presence, allowing us to further enhance our offerings and drive value for our shareholders. We have a long history of meeting diverse financial needs in Washington County and communities like Whitehall. With our commitment to the area and our local expertise, we are confident this will be a smooth transition for our new customers.”

Banking Briefs: March 2024

March 17, 2024

Glens Falls National Bank is pleased to announce the promotion of Arleen Girard, Candice Healy and David Riihimaki to Senior Vice President.

“We are excited to recognize Arleen, Candice and Dave for their accomplishments within the Arrow Family of Companies,” said President and CEO Dave DeMarco. “Their knowledge and experience will help lead our continued growth and excellent customer experience.”

Each will continue in their management roles for Saratoga National Bank and Glens Falls National Bank and Trust Company, part of the Arrow Family of Companies.

Girard, Senior Vice President, Director of Business Services, joined the company in 2014 and oversees municipal banking and cash management services. She is responsible for developing and managing opportunities for revenue growth including deposits, merchant and payroll services and credit cards. Girard earned a bachelor’s degree in business administration from Le Moyne College.

Healy, Senior Vice President, Director of Retail Banking, joined the company in 2012 and oversees the Arrow Family of Companies branch network of 37 branches in a footprint of more than 160 miles along the eastern border of New York state. She is also responsible for leading and developing the branch teams to further expand customer relationships. Healy is a 2016 Leadership Adirondack graduate with more than 20 years of experience in retail banking. She is currently pursuing a degree in business administration from Southern New Hampshire University.

Saratoga Economic Development Corp. Works To Find Jobs For Quad Graphics Employees

March 17, 2024March 17, 2024

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

By Jill Nagy

The Saratoga County Economic Development Corporation will soon cut the ribbon at their new quarters at 517 Broadway, in the heart of Saratoga Springs.

Already, “we’re a very busy office here. . . .Very excited to be in the center of Saratoga Springs,” J. Gregory Connors, president and CEO, said.

Prominent on his agenda is dealing with the coming closure of Quad Graphics and helping to find new jobs for the company’s 400 employees. The EDC sponsored a job fair for Quad Graphics employees in February, along with Workforce Development for Saratoga County. He said that Jen McCloskey, the director of Workforce Development, contacted some 105 businesses to invite them to attend. He didn’t know how many responded, but observed that “It certainly was crowded and there was a lot of interest.”

Further job fairs are planned, including one at the City Center in Saratoga Springs and at least one in the southern part of the county, perhaps in Clifton Park.

Fortuitously, the Quad Graphics announcement came almost at the same time as Global Foundries’ announcement of its plans to expand its Malta facility and add another building. That company reached out to Quad employees, he said, and have already interviewed several of them. He noted that many of the skills needed at Quad Graphics can transfer to the Global Foundries operation.

Aging Workforce And High-Speed Broadband Among Issues Warren County EDC Addressing

March 17, 2024March 17, 2024

Jim Siplon, president, CEO, EDC Warren County.

By Christine Graf

When Jim Siplon was hired as president and CEO of Economic Development Corporation (EDC) of Warren County in early 2021, the country was in the midst of the COVID-19 pandemic.

“When I stepped into the job, I thought it was about attracting and supporting business,” said Siplon. “That’s kind of the traditional view of economic development. But, COVID helped clarify that there are a lot of dynamics going on in the greater economy and the greater population.”

During the pandemic, the EDC began working to bring high-speed broadband internet service to rural communities throughout the region.

“It’s not something I would have predicted we would get involved in, but we discovered it to be a huge, glaring need during COVID,” he said. “We had school kids that needed to stay connected. We had people with health care issues that were attempting to access health care but couldn’t hold a tele-health session. We had businesses that were trying to operate remotely. The ability for everyone to be able to connect became almost a universal need.”

Although a considerable amount of money had already been spent to bring broadband internet to rural areas, pockets within Warren Country remained unserved.

In order to address what was considered an urgent need, the EDC established an informal group to tackle the issue. The makeup of the group–one that continues to meet weekly–varies from week to week. It typically includes elected officials, members of community organizations, and representatives from broadband companies.

Washington County Economic Development Professionals Support A Variety Of Businesses

March 17, 2024March 28, 2024

Washington County is working to make the Canalside Energy Park in Fort Edward shovel ready to attract potential users.

By Rod Bacon

The economic development professionals in Washington County are committed to providing myriad areas of support for the variety of enterprises that call the region home.

“We now offer a wide range of services designed to make the county competitive in the marketplace,” said Laura Oswald, director of economic development.

To help her achieve this goal she has brought Pam Landi on board as a planner and Amy Hoffer as tourism director.

“We have no hotels in the county,” said Oswald, “but the small bed-and-breakfast inns and short-term rentals were negatively affected during COVID. In the years since we’ve had a very high success rate in reawakening interest in tourism here.”

Social media was extremely important in achieving this result. According to Oswald, there are now 9,300 subscribers to the county’s social media platforms, a 35 percent increase year-over-year.

One of the most important issues, according to Oswald, is resolving Broadband and cell issues in the largely rural county.

“My goal is to increase Broadband speeds and cell access for every resident in the county,” said Oswald.

Hellos And Goodbyes Are Announced By Local Watershed Protector Battenkill Conservancy

March 17, 2024

Former Director Lorraine Merghart Ballard and newly appointed Director Beth O’Grady stand outside the Battenkill Conservancy office in Varak Park in Cambridge.

With the warmer skies and spring temperatures on the way, the Battenkill Conservancy (“BkC”), a not-for-profit land trust that works within New York and Vermont’s Battenkill watershed, has announced some exciting hellos and some bittersweet goodbyes.

In January, the organization lost its long time BkC Board Chair, Stuart Bartow, who passed away after a relatively brief battle with cancer. His dedication to BkC’s mission coupled with his talents as a writer, poet and avid fly fisherman helped guide the organization’s work for over 18 years. A memorial tree planting and a scholarship announcement will take place later this spring.

Simultaneously the BkC Board in conjunction with Lorraine Merghart Ballard, its first Executive Director, was working to secure her replacement. In 2016 with assistance from the NYS Conservation Partnership Program, Ballard was appointed BkC’s first Executive Director. During her tenure, she helped revitalize the organization with popular river related events, increased the public’s river access through the Battenkill Corridor Connections Project and used a simple “Picky Bugs Exhibit” containing macroinvertebrates to demonstrate the importance of cold, clean water and a healthy watershed. She promoted the Battenkill as one of the area’s most important recreational, cultural, historical and environmental assets. Advocating for “Clean Water & Open Space for All” became the organization’s motto during her tenure. She will continue to stay involved and act as Board Chair to help with the transition.

Alex Brame Is Appointed Executive Director To Lead The Way At STRIDE Adaptive Sports

March 17, 2024

Alex Brame, new Executive Director, at STRIDE Adaptive Sports.

STRIDE Adaptive Sports, one of America’s most respected nonprofits committed to empowering individuals through life-changing sport and recreation programs, is proud to announce the appointment of Alex Brame as its new Executive Director.

Alex joins STRIDE with an impressive background and passion for making a positive difference in sport. Alex was the executive director of New York West Youth Soccer Association for 7 years, fundraising and advocating across New York State for youth programs, competitions and tournaments across a 54,000 membership. With a focus on inclusivity and a proven track record of strengthening organizational funding, Alex is well-positioned to lead STRIDE into its next chapter of growth and impact.

Alex inherits the leadership of STRIDE from Mary Ellen Whitney, the Founder and CEO of STRIDE for almost 40 years. The Board of Directors, staff, and all of STRIDE’s communities are indebted to Mary Ellen’s immeasurable dedication to build and lead STRIDE since 1985. Under Mary Ellen’s leadership, STRIDE hosts and delivers more than 14,000 annual adaptive lessons and activities at sites across the New York Capital region, positively impacting the lives of more than 2,500 families annually.

“I am thrilled that we have hired Alex as the next executive director of STRIDE after a 16 month search,” said Mary Ellen Whitney. “I know that Alex will be a significant asset to drive the future of STRIDE. I am looking forward to focusing on my passion and first love of teaching and volunteering with STRIDE athletes. I will also be joining the STRIDE Board of Directors in an ex-officio capacity, and I will be working within the STRIDE community to support Alex’s leadership and the next chapter of STRIDE’s journey.”