Category Archives: Business News

By Jennifer Farnsworth
Geico’s new Central Avenue location in Albany came at the perfect time for insurance agent Rick Schrade.
The relocation may not seem like a major change, but Schrade said the new space has allowed him to open up in a safe way that is pandemic ready. The office reopened in late June.
“The new space has really given us the capability to create something that is safe for our employees and for our customers,” he said.
The agency moved in late spring. When the coronavirus pandemic hit they immediately got to work, making sure to meet health and safety precautions that were being asked of them, according to Schrade.
“We’re now fully open and ready for people to come in and shop for a policy that works for them,” he said.
In response to the coronavirus, Schrade said some of the safety precautions include contactless photo inspections, daily temperature checks for employees, frequent hand washing and disinfecting surfaces on a regular basis. The new lobby includes ceiling-to-floor plexiglass.
“We really invested into ensuring that the health and safety of our office was our top priority. The new 5,000 square foot location has really been a bright spot for us. The space allows us to be socially distant, have cubicles for our employees, and really be spaced out in a safe way,” said Schrade.
He said the pandemic has had a financial impact on not only his office, but insurance nationwide. While people are looking to find ways to save money within personal and family budgets, saving on insurance is something many people seem to overlook.

Following his unveiling of the bipartisan American Foundries Act and his push to include major federal support for the U.S. microelectronics industry, U.S. Senator Charles E. Schumer stood with GlobalFoundries CEO Tom Caulfield in Malta, to call for swift passage of an act that would help tech companies.
The Fiscal Year 2021 National Defense Authorization Act (NDAA) includes the provisions from the Senator’s bill to continue U.S. leadership and revitalize innovation in the global microelectronics sector.
Schumer said the bipartisan legislation, among other things, will launch federal initiative into semiconductor manufacturing, including companies like GlobalFoundries, by providing new federal incentives to conduct advanced research and development of semiconductor technology, secure the supply chain, and ensure national and economic security by reducing reliance on foreign semiconductor manufacturing.
The amendment passed in the Senate 96-4 as part of the Senate-passed NDAA which now awaits final consideration and passage.
Schumer called it a major step forward in providing unprecedented support for the U.S. semiconductor industry and creating opportunities to bring hundreds of jobs to Saratoga County and Upstate New York.

Relay Integrated Logistics & Solutions (RILS) has been selected to create a sales operations program for Shaker Logistics, a third-party logistics provider headquartered in Waterford.
“We are aggressively going after new growth and projecting a 20 percent increase in revenue from new customers in the next three years, as well as continued growth from our long-time partners,” said Jason Smith, CEO of Shaker Logistics. “Our new headquarters and warehouse space will drive new service offerings. We anticipate full retention of our workforce of 81 people and an expansion of hiring in roles like sales, warehousing, customer service, and drivers over the next several years.”
The Center for Economic Growth assisted in the collaboration.

The State Office of Parks, Recreation and Historic Preservation, the Department of Environmental Conservation, and the advocacy group Parks & Trails New York have awarded grants to support nonprofit organizations involved with stewardship of 29 state parks, historic sites and public lands.
The grants—including five in the area—provided to partner organizations will help to improve the maintenance of these historic open spaces.
The grants “will help bolster efforts to keep New York’s open spaces beautiful and pristine at a time when more New Yorkers than ever are turning to nature for refuge and relaxation,” Gov. Andrew Cuomo said. “New York is thankful for this dedicated group of volunteers, which provide invaluable support to our park system by devoting their time to help make improvements that all of us can enjoy.”
The program grants are funded through the state Environmental Protection Fund .
Grants in the area went to: