{"id":16293,"date":"2015-02-12T16:35:58","date_gmt":"2015-02-12T21:35:58","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2015\/02\/panelists-at-edc-breakfast-express-views-that-the-economy-of-the-region-is-strong.html"},"modified":"2015-02-12T16:35:58","modified_gmt":"2015-02-12T21:35:58","slug":"panelists-at-edc-breakfast-express-views-that-the-economy-of-the-region-is-strong","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2015\/02\/panelists-at-edc-breakfast-express-views-that-the-economy-of-the-region-is-strong\/","title":{"rendered":"Panelists At EDC Breakfast Express Views That The Economy Of The Region Is Strong"},"content":{"rendered":"
\n
\n\"edc\n<\/div>\n
Terry Coomes, new publisher of the Post-Star, left, and Ed Bartholomew, EDC Warren County president, talk at the EDC’s outlook breakfast at the Great Escape Lodge.\n<\/div>\n<\/div>\n

BY LISA BALSCHUNAT<\/p>\n

Panelists from the sectors of higher education,
\nbanking, manufacturing and media offered
\nperspectives on the future of commerce and
\ndevelopment in the region at the Warren Counthy
\nEDC’s outlook breakfast on Jan. 30 at the Great
\nEscape Lodge in Lake George.<\/p>\n

Kristine Duffy, Ed.D., kicked off the discussion
\nstating that higher education has received much
\nattention over the past 10 years.<\/p>\n

“Higher education is helping to develop individuals
\nto be contributors in their community,”
\nshe said. “By 2025, 60 percent of the jobs available
\nwill require secondary education.”
\nShe said SUNY Adirondack, the only college in
\nWarren County, is diligently working to provide
\nstudents with degrees that will meet future needs
\nin the job market.<\/p>\n

The college offers Massive Online Open
\nCourses (MOOCS), Duffy said. “Most students
\nparticipating in MOOCS already have a higher
\ndegree. The curriculum is self paced, competency
\nbased, free online education.”<\/p>\n

She said the number of graduates is down in
\nWarren County by 19 percent; Washington County
\nby 17 percent and Saratoga County by 1 percent.
\nCollege enrollment is down due to the rise during
\nthe recession years and there was a slight decline
\nin the number of graduates, however Duffy said
\nSUNY Adirondack is working to bring more fouryear
\ndegrees to campus, similar to its partnership with SUNY Plattsburgh.<\/p>\n

Duffy said one of her greatest concerns is that
\nthe state and federal funding to SUNY. “We want
\nmore people to complete degrees and increase
\nworkforce readiness here.”<\/p>\n

Tom Murphy, CPA, president and CEO of Arrow
\nFinancial Corp. and Glens Falls National Bank
\nand Trust Co., spoke about community banking
\namong its 38 branches and four insurance
\ncompanies.<\/p>\n

“It was a good year for Arrow Financial Corp.,”
\nhe said. “We continue to expand south with our
\nloan and banking branches associated with
\nSaratoga National Bank. Our latest branch is on
\nNew Karner Road in Colonie.”
\nMurphy said loans and investment banking are
\neconomic drivers.<\/p>\n

“They allow businesses to expand, grow and
\ntake on new employees. Our relationship with
\ncustomers is changing because customers now
\nwant banking on their terms..”<\/p>\n

Murphy said, “Our relationship with our
\ncustomers will still be strong to assist them with
\ntheir business goals and personal banking needs.”<\/p>\n

Terry Coomes, new publisher of the Post-Star,
\ngave a synopsis of how the newspaper industry
\nwas forced to adjust and work under a new business
\nmodel over the past two decades due to the
\nevolution of the Internet.
\n“We used to deliver news one time a day, in
\nthe morning at your doorstep,” she said. “Now, we offer news on multiple platforms – on your
\ndesktops, laptops, tablets and mobile devices.”<\/p>\n

Coomes, who has been in leadership roles in
\nthe newspaper business since 2006 said print
\nnews is no longer a sustainable business.
\n“It was critical the business model change for
\nour survival,” she said. “We have to tell the news
\nand stories better and in different ways.”<\/p>\n

“We are in real time. We know what people are
\nwatching and what they are searching for,” she
\nadded. “The internet changed the newspaper
\nworld.”<\/p>\n

Joseph DeVivo, president and CEO of AngioDynamics,
\nsaid his company has entered 2015 with
\nboth support and obstacles that keep the medical
\ndevice industry in our area moving forward.
\nHe said he appreciates the support of college
\nand universities in the region that will provide
\nSTEM minds (Science, Technology, Engineering
\nand Mathematics) that are greatly needed to
\ncompete in the world of medical devices.<\/p>\n

“Decisions made by our elected officials shape
\nsome of our business decisions,” he stated. “As
\nan industry, we need to make health care more
\nefficient. Data will change health care. Drug
\ntherapies will change health care. Major acquisitions
\nwill change health care. There are massive
\ninefficiencies that need to be addressed, and us
\nreducing our product by a dollar or two won’t fix
\na system that is broken. There is much to be done
\nin this industry.”<\/p>\n

He said medical devices represents 6 percent
\nof the health care industry, and that 40 percent
\nof the labor in the U.S. is in health care.
\n“We are driving innovative technology, improving
\npatient outcome and reducing health
\ncare costs by performing at the upper end of our
\ncapabilities,” DeVivo said.<\/p>\n

“This year, we are competing with the ‘big guys’
\nfor contracts. We are excited about the future.
\nWe are consolidating our four local facilities
\ninto global distribution and manufacturing with
\na finished clean room,” said DeVivo. “The more
\nprofitable we are, the more we can invest …
\nWe have to pay the federal medical device tax
\non revenue, not income. That is something we
\nwill soldier through, ” he stated. “We continue to
\nlearn how to talk to the FDA (U.S. Food and Drug
\nAdministration), and will continue to acclimate
\nto the issues facing our industry to continue to
\nprovide products people need and local jobs to
\nthose in our community.”<\/p>\n

Photo by Lisa Balschunat<\/p>\n","protected":false},"excerpt":{"rendered":"

Terry Coomes, new publisher of the Post-Star, left, and Ed Bartholomew, EDC Warren County president, talk at the EDC’s outlook breakfast at the Great Escape Lodge. 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