Category Archives: Business News

The New York Racing Association, Inc. announced that the 40-day summer meet at historic Saratoga Race Course generated more than 1.1 million in paid attendance for the first time since 2018 and nearly $800 million in all-sources handle.

Despite one of the wettest summers in history, which forced an unprecedented 65 races off the turf, all-sources handle totaled $799 million with paid attendance continuing its steady climb to 1,105,683. 

The handle was the third largest in Saratoga’s history while this summer also marked the eighth consecutive season with attendance exceeding 1 million fans, officials said.

“Thanks to the fans who visited Saratoga Race Course over these 40 days, and all those who watched and wagered from home, the popularity of the summer meet continues to exceed all expectations,” said NYRA President and CEO Dave O’Rourke. “The world-class racing held here each summer is made possible by the owners, trainers, jockeys and backstretch community who collectively dedicate so much to the horses and the sport.

“At the same time, the continued success of Saratoga depends upon our ability to continuously enhance equine safety through science and technology,” said O’Rourke. “In the coming months, NYRA will make significant investments in PET scan imaging to identify pre-existing injuries; finalize the path forward regarding the adoption of synthetic surfaces at each venue; and expand the use of biometric wearable devices. Horses, fans and the racing community deserve nothing less.” 

By Paul Post

 First a late-spring killing freeze. Then a devastating, early summer hail storm.

 “I’ve heard many, many stories about lots of orchards that had total loss and won’t even be able to do anything with apples this fall,” said Michelle Wilson, business manager of Hick’s Orchard in Granville. “Some got hit double whammy with the hail storm a few weeks after that freeze. It definitely depends on where you were, your elevation and how cold it got.”

 But Hick’s, like Saratoga Apple in Schuylerville, is the exception this harvest season, whose you-pick business kicked off on Labor Day Weekend, ushering in one of autumn’s most popular family-oriented outdoor activities.

 “We do have a crop,” Wilson said. “I think we’re going to be okay.”

 The U.S. Department of Agriculture has designated 31 counties across New York state, including Washington and Saratoga, as a primary natural disaster area following the late May frost-freeze event. These designations mean that impacted farmers may be eligible for assistance,  including emergency loans from the USDA Farm Service Agency.

Fossil Stone Vineyards & Winery is a new operation at 331 Grange Road in Greenfield Center.

A Sept. 1 ribbon cutting event marked the opening of one of the only combined vineyards and winery in the area. 

At the event, Fossil Stone Vineyards & Winery debuted its Amish-built, timber frame barn, a 720- square foot facility that sits on the 140-acre farm, including seven acres of vineyards and a large horse farm on the property that dates back to 1802.

The winery and vineyard will have a limited calendar of hours this fall and will hold a Harvest Party that is open to the public on Sept. 23. 

The event will feature grape harvesting starting at 10 a.m., followed by evening of food from Mama Mia’s of Saratoga, a cash bar and music from the Greenfield band Nymbis. The business will host a variety of other private parties throughout the year. Starting next spring, the winery will be open for business and tours with more regular hours. For more information or to book, contact 417-849-6692. The new business joins the already-established Fossil Stone Farm, an equestrian operation that opened in 2016.

“It is a dream of ours to combine locally grown wine with our history of horses to make a special place and event venue that warms the heart and calms the soul,” said Mike Spiak, who co-owns the business with his wife, Kelly. They have been working on the idea since 2009. 

Spiak, who was a member of the Air National Guard branch of the U.S. Air Force for 26 years, spent many years as a flight engineer on C130s, flying in the Polar regions for scientific research. He said many stops in New Zealand inspired his love and interest for vineyards, wine, and the grape to glass process, eventually opening his mind to having his own vineyards. 

J. Gregory Connors, a former senior government relations executive for GlobalFoundries U.S., is the new president and CEO of the Saratoga Economic Development Corp.

Connors was senior leader of government relations at GlobalFoundries in Malta for about a decade.

Longtime SEDC president Dennis Brobston retired at the end of 2022 and vice president  Tori Riley headed the group in the interim. Now Connors steps into the role.

“Greg is a lifelong Saratoga County citizen, and he has the experience, professional credentials and network that makes him the right leader,” SEDC board chairman John Munter said in a statement.

Connors was involved in the family real estate business, Connors-Howard Realty, in Mechanicville for a time, followed by a career in public service.

He was Stillwater town supervisor during the time the Luther Forest Technology Park was under development.

“He understands our county and he knows economic development. He’s going to take SEDC to the next level,” Munter said.

By Paul Post

A multi-billion dollar company with assets from coast to coast and the Caribbean is pursuing plans to expand and move to the former Fingerpaint building at 395 Broadway in Saratoga Springs.

 Based at 85 Railroad Place since 2013, Prime Group Holdings purchased the building from Fingerpaint marketing firm owner Ed Mitzen for $11 million in late June.

 The company has $5 billion in total assets and is one of the largest private owners of self-storage units, totaling more than 22 million square feet in 28 states and the islands of St. Thomas and St. Croix.

 “Prime Group is proud to be a longstanding member of the Saratoga Springs community and we look forward to expanding our operations in downtown Saratoga as our business continues to grow following the (2022) close of our third flagship self-storage fund,” said Robert Moser, company founder, principal and chief executive officer.

 The company website says Prime Storage Fund III, its largest commingled private equity fund, is the largest self-storage real estate fund ever raised by a vertically integrated owner-operator.

 Plans call for adding two more stories to the two-story, red brick building at the southwest corner of Broadway and Division Street, increasing space from 25,000 to 45,000 square feet.

By Christine Graf

Goldfish Swim School has opened its second Capital Region location in North Country Commons at 1208 Route 146 in Clifton Park. 

Franchise owners Dan, Tim, Jim, and Brian Gilbride operate a total of 11 schools including one on Wolf Road in Colonie.  

Established in Michigan in 2009, Goldfish Swim School has more than 150 locations throughout the United States and Canada. They offer year-round swim lessons for children 4 months to 12 years, using a curriculum that was designed to teach swim and safety skills through guided play.

According to assistant general manager Caitlin Laviano, the Gilbride brothers opened their first location about five years ago after recognizing that there was a very high demand for quality year-round swim instruction. 

“We are a perpetual swim school which means we are year-round and that we are not session based. If someone books into a class, they book a day and time and they are in that indefinitely until their child goes up a level or until they decide to no longer take lessons with us,” she said.

Matthew Lucas, a senior sales executive with a background in business strategy, marketing, sales, and global management, has been named Skidmore College’s 10th Harder Professor of Business Administration. 

Lucas, who will begin at Skidmore in the fall semester, has held multiple senior leadership positions at leading corporations, including global vice president of consumer sales at Bose Corp., senior vice president at Samsung U.S., and senior vice president of sales at Coty Beauty U.S. 

In these and other roles, officials said he has demonstrated extensive experience developing and executing strategic sales and marketing initiatives, fostering long-term business relationships, and achieving market dominance in highly competitive environments.

“As a globally recognized senior sales executive, Matt comes with a rich track record in defining brand and unique competitive positioning, establishing innovative alliances across diverse channels, and driving strategies with multicultural high-performance teams,” said David Cohen, associate professor and chair of the Management and Business Department. 

“Part of what makes Matt such a valuable asset to Skidmore is his extensive experience in digital sales, where he utilizes the very latest digital tools and techniques to drive business growth and deliver superior consumer experience. Matt is also committed to our mission of providing a business education firmly rooted in Skidmore’s liberal arts curriculum.” 

 Earlier in his career, Lucas also served in various capacities at Novartis Consumer Health and Procter & Gamble. 

An electric supply company based in Vermont will purchase a building  in Saratoga Springs and convert into  a distribution hub as well as offices, keeping jobs in the area and creating future job opportunities.

Green Mountain Electric Supply Inc. had expressed the desire to purchase a 143,000-square-foot office and distribution center from SKS Bottle & Packaging Inc. at 10 Skyward Drive, off Geyser Road.

The company has filed an application with the Saratoga County Industrial Development Agency seeking a tax incentive package that would help finance the transaction.

In late July, the IDA voted to award $1.56 million in tax incentives.  That includes $91,000 in sales tax exemptions, $105,000 in mortgage tax exemptions and $1.4 million in property tax exemptions over five years.

The company, a lighting, cable, alarm system and electrical parts distributor, will purchase a 22.3-acre complex that contains the building. The structure would be converted into a distribution hub that also would house the firm’s financial team.

Green Mountain was founded in 1953 and is in its third generation of ownership. Headquartered near Burlington, Vt., Green Mountain has rapidly expanded its presence across upstate New York, growing to 16 branches and two distribution centers. The company expanded into New York in 2008 through the acquisition of Glens Falls Electric Supply in Queensbury.