Saratoga.com logo
Saratoga.com logo
  • Places to Stay
  • Things To Do
  • Food & Drink
  • Events
  • Businesses
  • Travel Guides
Saratoga Business Journal
  • Home
  • New Businesses
  • Business News
  • Business Reports
  • Business Briefs
  • Business Registrations
  • Personnel Briefs
  • Contact Us
Home  »  Economic Outlook 2019  »  Economical Outlook 2019: Dennis Brobston
Economic Outlook 2019

Economical Outlook 2019: Dennis Brobston

Posted onJanuary 10, 2019January 11, 2019
Dennis Brobston, president, Saratoga Economic Development Corp.

By Dennis Brobston

The year 2018 marked Saratoga Economic Development Corp.’s (SEDC) 40th year as the premier economic development organization in the region. Thoughtful collaboration is how SEDC and its partners stimulated over $2.5 billion of new investment, nearly 1,700 new and retained jobs and $50 million in employee payroll since 2014.

In 2018 SEDC produced $44 million of investment retaining and growing 139 jobs. These jobs will add almost $5 million of annual wages to area communities. SEDC continually researches and keeps its fingers on the pulse of market demands enabling us to position Saratoga County’s strengths. We have several strong projects in the pipeline for 2019.

Promoting Saratoga, retaining, and growing jobs and wages remain SEDC’s mission. Our investor members, partners at the Saratoga County IDA, Clifton Park IDA, and Mechanicville-Stillwater IDA, plus strategic engagement with local, regional and state stakeholders remain key ingredients to success. Local communities’ policies and competitive tax rates continue setting a baseline for success.

Other assets have been relatively competitive property costs, an educated workforce, and proximity to 54 percent of North American consumers. Results evident to most are the $1.25 billion in local multifamily and hospitality construction in recent years.

That said, such dynamic investment also brings forth challenges; higher priced property, balancing community ideals for growth, and elevating workforce skills to align with higher value industries. We need to confront needs for updated local planning, expanded infrastructure (especially increasing natural gas supply and returning rail to the Moreau Industrial Park), more business-ready real estate, and addressing workforce gaps.

To meet these challenges, SEDC is helping support private development, attract external sources of capital, and collaborate on strategic initiatives that align stakeholders’ interests.

Ready-to-build inventory is in great demand. We are an attractive location for advanced manufacturing across key sectors like advanced electronics, clean-tech, chemical research and others, as well as for commercial office headquarters and professional support services. To help realize these opportunities and create more business-ready real estate, SEDC is collaborating with noted local developer, MJ Properties, to promote development of up to 1 million square feet of new inventory at Synergy Tech Park between Exits 9 and 10 of the Northway in Clifton Park.

Likewise, we continue collaborating with existing businesses and developers at the Grande Industrial Park in Saratoga Springs, the Luther Forest Technology Campus in Malta, and to increase tax base generating investment in industrial parks of Halfmoon. We have met with site selectors on these and other areas in the county and are always ready to work with development teams to evaluate site viability.

An example of building on our strengths while confronting challenges is the assistance provided to the distribution sector. Strong interest remains in Saratoga as a key hub for regional distribution centers. We are working to promote and attract further development of the Exit 16 hub near Target and Ace distribution centers.

To expand real shovel-ready inventory, we have been working diligently with local and state leaders to add needed sewer infrastructure near Exit 17 of the Northway opening opportunities for Moreau. Likewise, we continue to be a resource to communities and businesses seeking to activate appropriate scale commercial businesses in Ballston and Milton, and to reposition previously utilized assets such as the former International Paper site in Corinth.

Boosting real estate inventory and aligning community goals helps demonstrate to the private sector that we are ready for investment and job creation.

Increasingly, quality of life, workforce skills development and recycling of local talent into existing or emerging enterprises are key economic development assets. SEDC has launched Spark Saratoga, the county’s only entrepreneur incubator and business accelerator already assisting over 40 startup and small businesses. Stay tuned for “Spark 2.0,” further aligning area innovators with proven mentors, prototyping access, customer discovery, professional services, access to capital, and overall accelerated growth cycles.

The encouragement and support of entrepreneur talent in our region will only support future and established businesses by attracting and retaining human talent.

SEDC launched in June 2018 a major new initiative to empower world-leading integrated circuit and electronic system design in Saratoga County and New York’s capital region. EDI² aligns higher educators at Clarkson University and SUNY Adirondack, with leading industry partners like Siemens, thought leaders in semiconductor design, the U.S. SBA, Center for Economic Growth (CEG) National Grid, NYSEG and other local partners.

A key feature will be a national first—an integrated circuit (IC) design accelerator—providing access to electronic design automation (EDA) tools at a fraction of the traditional cost for designers. Keys to bolster this ecosystem include:

1. Expanding the number of engineers with design experience, and increasing the number of students pursuing electrical engineering degrees.

2. Providing innovators affordable access to powerful design software.

3. Establishing academic, public and private sector partnerships to spark technical and capital access for translating R&D to commercialization.

4. Delivering workforce readiness through the education to apply the technologies.
To further meaningful engagement of key economic influencers, SEDC initiated member exchanges that allowed over 250 SEDC members networking opportunities to discuss industry trends, workplace needs, and business opportunities. We will continue C-Suite level “CEO tours” in 2019 to foster greater cross-sector understanding of the assets and needs in our marketplace.

One revelation amongst key stakeholders is that there are efficient measures to be aided by the public sector to overcome obstacles. Updating community plans, planning expanded infrastructure, and analysis to reposition assets as attractive inventory for project sites among them. We look forward to sharing our market insights to inform ways to align resources to better generate economic return.

So 2019 looks to be a year of robust growth through investments in our strengths. It is also a key year for transitioning real estate, communities and workforce to seize on economic demands of the marketplace. Saratoga has enjoyed a strong run of success. It is time again to lead the way defining how we sustain our quality of life for future generations.

Previous Article Economical Outlook 2019: Pete Bardunias
Next Article Economical Outlook 2019: Stephen Kyne
Subscribe to Our Newsletter
View the Latest Virtual Edition

Categories

  • 50-Plus
  • Banking
  • Banking / Asset Managment
  • Building Trades
  • Business Briefs
  • Business News
  • Business Registrations
  • Business Reports
  • Commercial / Residential Real Estate
  • Community Services
  • Construction
  • Construction Planning
  • Corporate Tax / Business Planning
  • Cyber / Tech
  • Dining Guide
  • Economic Development
  • Economic Outlook 2016
  • Economic Outlook 2017
  • Economic Outlook 2018
  • Economic Outlook 2019
  • Economic Outlook 2020
  • Economic Outlook 2022
  • Economic Outlook 2023
  • Education/ Training/ Personal Development
  • Entrepreneurial Women
  • Entrepreneurship
  • Environment / Development
  • Financial Planning / Investments
  • Fitness / Nutrition
  • Health / Community Services
  • Health & Fitness
  • Health & Wellness
  • Healthcare
  • Holiday Guide
  • Holiday Shopping
  • Home / Energy
  • Home / Insurance
  • Home & Real Esate
  • Insurance / Employee Benefits
  • Insurance / Medical Services
  • Legal / Accounting
  • Meet The Chef
  • New Businesses
  • Non-Profit
  • Office / Computer / New Media
  • Office / HR / Employment
  • Office/ Technology/ E-Commerce
  • Outlook 2021
  • Personnel Briefs
  • Retirement Planning
  • Senior Living / Retirement
  • Summer Construction
  • Uncategorized
  • Wellness
  • Women In Business
  • Workplace / Security / Legal
  • Year-End Tax Planning

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
Connect With Us

Follow, like and subscribe to Saratoga.com on social media

Account Sign In Submit An Event
Saratoga.com logo
  • Home
  • Places To Stay
  • Things To Do
  • Food & Drink
  • Events
  • Real Estate
  • Businesses
  • Guides
  • Contact Us
  • Blogs
  • Sweepstakes
  • Advertising
Visit Saratoga.com For Everything Saratoga
Full-Service Internet Marketing: Search Engine Optimization, Website Design and Development by Mannix Marketing, Inc.
Mannix Marketing, Inc. is headquartered near Saratoga Springs in Glens Falls, New York
Saratoga.com All Rights Reserved © 2023
Disclaimer & Privacy Policy / Terms of Use / Copyright Policies

We strive to insure accuracy on Saratoga.com however accuracy cannot be guaranteed. Information is subject to change.
Please alert us if there is any inaccurate information here.

Having trouble using this site? Accessibility is our goal, please contact us with site improvements.