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Month: October 2024

Ground Will Be Broken Soon For A New Warehouse For Arnoff Global Logistics

Posted onOctober 15, 2024

By Susan Elise Campbell

At headquarters in Malta, Arnoff Moving & Storage has built an enhanced logistics and delivery system for clients who need warehousing, packing and shipping services as their inventory is transferred or sold. 

According to Daniel Arnoff, chief relationship officer and fifth-generation member of the family-owned business, the Arnoff Global Logistics division has outgrown its warehousing space and will soon break ground on a new 100,000-120,000-square-foot facility to suit their expansion trajectory.

Arnoff said the new warehouse is necessitated by the growth their clients are experiencing and by the influx of new clients who need a streamlined and cost-effective way to store and ship goods.

“The goods could be retail items purchased on the internet or parts we stock that a local manufacturer might need if their machine goes down,” he said. 

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Stewart’s Shops To Purchase Jolley Associates And S.B. Collins Operations By End Of Year

Posted onOctober 15, 2024
Stewart’s Shops is in the process of acquiring the assets of the Jolley Associates convenience store chain as well as S.B. Collins.
Saratoga Business Journal photo

Stewart’s Shops has signed an agreement to purchase the assets of Jolley Associates convenience store chain and S.B. Collins, including its heating oil business Clarence Brown of St. Albans, Vermont.

The acquisition, which requires federal regulatory approval, is expected to close by the end of 2024. Terms of the deal remain confidential.

The transaction includes the purchase of 45 Jolley stores including five in New York, two in New Hampshire and 38 locations in Vermont.

“We are thrilled to have this opportunity to acquire a company with such an impressive reputation in a market that we’ve been watching for many years,” said Stewart’s Shops president Gary Dake. “One of the primary reasons we were drawn to this deal is because of the quality and the character of Jolley’s employees.”

The acquisition also brings together two longtime family businesses.

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Affordable Housing Is Becoming An Increasingly Serious Issue In The Region

Posted onOctober 15, 2024October 15, 2024

By Paul Post

In the iconic film “Field of Dreams,” a mysterious otherworldly voice tells Ray Kinchella (Kevin Costner), “If you build it, he will come.”

But unlike rural Iowa, Saratoga Springs doesn’t need a baseball diamond.

The issue is lack of affordable housing for middle-income people such as teachers and healthcare workers whose talents are critically important to essential local employers.

“I would say the two biggest challenges to Saratoga County’s continued economic growth are the need for more workforce housing and expanded public transportation,” said Todd Shimkus, Saratoga County Chamber of Commerce president. “We continue to have job openings across every sector of our local economy, and for many the applicant pool is limited by the fact that more and more people are being priced out of living close to these jobs or lack convenient and reliable transportation to travel to work consistently.”

“The median sales prices of a home year to date in Saratoga County is now over $400,000 and it is over $600,000 in Saratoga Springs so we are pricing ourselves out of the competition for talent at all levels of income,” he said.

Several obstacles stand in the way of providing more workforce housing. These include, but aren’t limited to: 1) the cost of land, building materials and labor; 2) costs associated to complying with local zoning requirements; 3) occasional local opposition to such housing in certain neighborhoods and communities.

Katherine Tiedemann, the city’s community development planner, said traditional low-income affordable housing is easier to address and navigate because there’s a set income cap. Anybody who makes below this figure is eligible to apply.

Middle-income employees typically aren’t enrolled in other types of assistance programs and are less familiar with affordable housing opportunities, she said.

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BuonaSera On Saratoga Lake In Malta Is Operated By Experienced Restaurateurs

Posted onOctober 15, 2024October 15, 2024
Chef Jimmy Hartwyk and his wife, Danielle, recently opened BuonaSera, an Italian bistro.
Saratoga Business Journal photo

By Helise Stamos

BuonaSera, an Italian restaurant, opened in Malta in July.  

Owned by Jimmy and Danielle Hartwyk, it occupies the building that formerly housed the Nostalgia Ale House & Wine Bar on Saratoga Lake. The building was completely renovated by Jimmy and Kevin LaPorto, his uncle, who is a retired New York state corrections officer.  

Jimmy, the executive chef, has 30 years of experience in the restaurant business. He and Danielle previously owned Biscotti Brothers Cafe and Saluti in Lake George as well as a restaurant in New Hampshire. Danielle is one of the hostesses in the new enterprise. 

“What I love about running a restaurant is seeing people gratified by every plate I prepare,” said Jimmy.  

The menu includes pan seared diver scallops over homemade grilled bread with pancetta, red onions and roasted peppers.  There is also chicken francese, veal or chicken parmesan, sautéed muscles  with red peppers, red wine and herbs.    

 

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Personnel Briefs: October 2024

Posted onOctober 15, 2024

The Arrow Family of Companies has announced the promotion of Lisa Wichelns to Vice President, Branch Manager of the Saratoga main office for its subsidiary Saratoga National Bank and Trust Company.

Wichelns is responsible for overseeing the daily operations of the branch and meeting the financial needs of the community. She brings 18 years of financial services experience to Saratoga National Bank, most recently as West Avenue Branch Manager and previously in mortgage lending and bank management.

Wichelns is a member of the Saratoga Economic Development Corporation and volunteers for the American Red Cross Adirondack Saratoga Chapter. She is a graduate of the Saratoga County Chamber of Commerce Executive Institute and is a former board member of the Stillwater Community Center.

                      *     *     * 

Isabella Ronda and Erica Riekert, have joined Franklin Community Center’s Project Lift program as Family Outreach Coordinators. Both will play vital roles in prevention-based afterschool program within the Saratoga Springs City School District.

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Saratoga Springs-Based Physical Therapy Practice Opens A Second Clinic In Glens Falls

Posted onOctober 15, 2024
Zachary Cole, PT, DPT, has expanded his physical therapy practice by opening a second location in Glens Falls.
Courtesy of MVPT Physical Therapy

By Susan Elise Campbell

MVPT Physical Therapy opened a second clinic in Glens Falls last month. 

The business was founded by Zachary Cole, PT, DPT, a former athlete who started Sports PT of NY 16 years ago in Saratoga Springs, now located at One West Avenue. But he rebranded after merging into Cypress Heath Partners, a network of clinics spanning five states. Under this model, Cypress Health owns both clinics and Cole is their managing partner. 

MVPT is bringing to the North Country the same needed therapies and guidance that has grown his Saratoga clinic to a staff of six. Cole is the sole practitioner at the new clinic.

“To grow our business and serve as many people as we can, we are confined by the space of the Saratoga clinic,” he said. “We expanded into Glens Falls because from a health care perspective there are a lot of people, but from a physical therapy perspective it is not as dense an area.”

“The new clinic puts within reach the range of physical therapy services residents may not have had at their fingertips,” he said. “North Country patients who had been traveling down to Saratoga now get easier access to physical therapy in their home town.”

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Area Students Honor Veterans On This Year’s Saluting Branches Day Of Service

Posted onOctober 15, 2024
Environmental conservation and forestry students joined professional arborists recently to perform tree care and site beautification at Saratoga National Cemetery.
Courtesy of Saluting Branches

Normally the Gerald B.H. Solomon Saratoga National Cemetery in Schuylerville is a quiet and peaceful place. On September 18 it was a buzz of activity as Environmental Conservation & Forestry Instructor Dennis Flynn and 16 of his students joined professional arborists from around the state and Vermont for the 10th Annual Saluting Branches Day of Service, one of 100 sites in the national event.

Students performed tree care and site beautification using the skills they’ve acquired in their Career and Technical Education (CTE) program to honor those who gave so much. This year the students concentrated on raising the tree canopy six feet in one area of the property. They used the drone to survey the trees and map out their work. 

“Every year it astonishes me how quickly the students perform. They did their jobs so quickly and effectively that they even made a dent into our overflow work. The chipping and stump grinding is a huge help,” said Michaela Shelton, who is the distribution forester for the Mechanicville division of NYSEG who was the site leader for the day.  

The WSWHE BOCES students worked with professional crews from NYSEG (Avangrid), Asplund, Lewis Tree Service, New Leaf Tree Service, National Grid, Greater Heights, J.S. Tree Service and Excavation, LLC, and Homestead Tree Service.

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Maria And Mark Dailey To Be Honored At Event

Posted onOctober 15, 2024

Wild About Blue will be taking place on Sunday, October 20, beginning at 4:00 p.m. at the Wishing Well restaurant in Wilton. 

This event is Wilton Wildlife’s main fund-raiser of the year and will be celebrating all of the successes of the organization in environmental education, outdoor recreation, and conservation.

At the event will be the presentation of the Metamorphosis Award, which was created to recognize people who have created transformative change in the community, just as the Karner blue butterfly and other species go through remarkable transformations in their life cycles. 

This year Maria and Mark Dailey are being honored. The Daileys established The Christopher Dailey Foundation in memory of their son, turning their personal loss into meaningful and impactful projects in the community. The Christopher Dailey Memorial Youth Gymnasium that they built at Gavin Park serves many thousands of people each year, improving their health and bringing people together in positive ways through sports and other activities. Their Annual Turkey Trot and Golf Tournament raise funds to support organizations that serve youth, focusing on those with disabilities or who face other challenges in life. 

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Business Report: Do Elections Influence Stock Markets/Economy?

Posted onOctober 15, 2024October 16, 2024
Matthew Burnell, Financial Advisor, HK Wealth Management Group, Clifton Park.

By Matthew Burnell

As we approach the 2024 presidential elections many people are wondering will this election have a major impact on the economy and markets? You may have heard the expression: Don’t let how you feel about politics overrule how you think about investing. According to the Pew Research Center, they ran a study asking subjects to rate economic conditions as good or excellent over time. It was no surprise that Republicans rated economic conditions more favorably when a Republican was President and Democrats rated the economic conditions more favorably when there was a Democrat as president.

Looking at just the last four presidents and the S&P 500 performance, during President Obama’s eight-year term the S&P returned 16.3% and President Trump’s term the S&P returned 16%. President Biden’s term through August of this year the S&P 500 had returned 12.5% and going back to 2001, President Bush’s term saw S&P 500 returns at -4.5% over that period. President Bush began his term during the dot com bubble and ended during the subprime mortgage crisis. Coming out of this crisis President’s Obama and Trump were in charge during a historically postive market run, while as President Biden stepped into office during the Covid pandemic. So, there were certainly some large economic factors that greatly affect the Stock market regardless of which party was in power.

Regardless of who the winning party is, crucial to a president’s success in implementing their agenda is the configuration of Congress, comprised of the Senate and House of Representatives. In the long run, it is policy, which matters more for the economy and markets. It is often the case that rhetoric about policy differs from actual policy implemented once elected.

Monetary policy, fiscal policy, economic growth, labor markets, and corporate profits are likely better areas to focus on when thinking of market performance. Focusing on two areas, Fiscal and Monetary policy are likely key agenda items for both parties.

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NBT Bank And NBT Insurance Agency Unveil Expanded Office Space In Saratoga Springs

Posted onOctober 15, 2024
NBT officials present a check to the Dake Foundation for Children at the recent opening of their new office space in Saratoga Springs.
Courtesy of NBT Bank and NBT Insurance Agency

NBT Bank and NBT Insurance Agency celebrated the unveiling of upgraded and expanded offices for the sister organizations at 295 Broadway in Saratoga Springs with a ribbon cutting recently.

Office renovations include expansion to fully occupy the 12,000-square-foot building, including the addition of seven new NBT Insurance Agency offices. Additional upgrades include a revised office configuration to promote collaboration among the 37 employees based at this regional hub location for NBT.

As the regional hub, employees represent multiple divisions within the company, including Retail and Business Banking, Commercial Banking, Mortgage, Wealth Management and Insurance.

President of Wealth Management and Regional President Ruth Mahoney said, “NBT has had the honor of serving Saratoga Springs for more than 25 years. As our company continues to grow, we’re excited to expand our presence with this modernized space.”

President of NBT Insurance Agency Tucker Lounsbury said, “We view this office expansion as a commitment to providing enhanced services, greater accessibility and a stronger, more engaged support network for our Saratoga County customers.”

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