Category Archives: Business News

NBT Bank Names Mahoney Executive Vice President And Wealth Management President

September 17, 2021

Ruth H. Mahoney is NBT executive vice president and president of wealth management.
Courtesy NBT Bank

NBT Bancorp Inc., the parent company of NBT Bank, has appointed Ruth H. Mahoney executive vice president and president of wealth management.

Mahoney will join NBT’s executive management team. She has more than 30 years of experience in financial services, including wealth management, private banking, retail banking and regional leadership.

Mahoney comes to NBT from KeyBank where she served most recently as Capital Region market president.

“We are thrilled to welcome Ruth Mahoney to NBT as leader of our wealth management business,” said company President and CEO John H. Watt, Jr. “Her diverse and extensive experience in banking and her skill at building partnerships across business lines to provide clients with the most comprehensive suite of financial services position her well to lead our team of wealth management professionals.” NBT Wealth Management is a division of NBT Bank and a provider of investment services and consulting to individuals and businesses and organizations of all sizes.

She is a graduate of Marist College with a bachelor’s degree in business administration and marketing.

General Contractors Of America Says Finding Workers To Fill Jobs Is Still Problematic

September 17, 2021

Construction firms are struggling to find enough qualified workers to hire, even as they continue to be impacted by pandemic-induced project delays and supply chain disruptions, according to the results of a workforce survey conducted by the Associated General Contractors of America and Autodesk.

The survey results underscore how the coronavirus pandemic has created constraints on the demand for work even as it limits the number of workers available to hire, association officials said.

The association and Autodesk conducted the Workforce Survey in late July and early August. Over 2,100 firms completed the survey from a broad cross-section of the construction industry, including union and open shop firms of all sizes. The 2021 Workforce Survey is the association’s ninth annual workforce-related survey.

“Market conditions are nowhere near as robust as they were prior to the onset of the pandemic,” said Ken Simonson, the association’s chief economist. “At the same time, the pandemic and political responses to it are limiting the size of the workforce, leading to labor shortages that are as severe as they were in 2019 when demand for construction was more robust.”

NYS Changes Pandemic Recovery Funding To Make It Easier For Businesses To Apply

September 17, 2021

New York state has made changes to its $800 million COVID-19 Pandemic Small Business Recovery Grant Program that it says will enable more small businesses to apply for funding.

Businesses with revenues up to $2.5 million can apply for grants, up from the previous threshold of $500,000. Additionally, the limitation for businesses that received Federal Paycheck Protection Program loans has been increased from $100,000 to $250,000.

“Supporting the small businesses across our state that got hit hard by the pandemic is a top priority for my administration,” Gov. Kathy Hochul said. “We simply cannot have a full economic recovery if the small business community continues struggling to survive. With the Pandemic Small Business Recovery Grant Program opening up to a greater pool of businesses, I strongly urge all the owners who qualify to submit their application so they can access this funding.”

Launched in June, the program initially focused on small and micro-businesses across New York state, which were largely left out of federal business recovery initiatives.

Business Report: What Eviction Moratorium Means For Landlords

September 17, 2021

Ryan J. McCall is an associate at Tully Rinckey PLLC.

By Ryan J. McCall, Esq.

Since former Gov. Andrew Cuomo signed the initial New York Eviction Moratorium on March 20, New York state landlords have received little to no assistance from state government.

Landlords, many of whom rely on their income producing properties in order to pay their own mortgage, have been saddled with tenants who are over 18 months behind on rent, presumably most of whom have little to no intention to pay.

While New York state has gone above and beyond to extend already very generous protections afforded to tenants, landlords have been mostly left out in the cold.

During the initial eviction moratorium enacted by former Cuomo, one of the most controversial changes was the COVID-19 Tenant Hardship Declaration form. The form gave an individual facing eviction an automatic stay on their case until August 31. This has now been extended to Jan. 15, 2022, so long as they alleged that they experienced some level of financial hardship as a result of the pandemic.

Hotel & Lodging Group Says Business Travelers Are Scaling Back Their Travel Plans

September 17, 2021

U.S. business travelers are scaling back travel plans amid rising COVID-19 cases, with 67 percent planning to take fewer trips, 52 percent likely to cancel existing travel plans without rescheduling, and 60 percent planning to postpone existing travel plans, according to a new national survey conducted by Morning Consult on behalf of the American Hotel & Lodging Association (AHLA).

Despite an uptick in leisure travel over the summer, the new survey highlights the dim outlook for business travel and events, which account for more than half of hotel revenue and aren’t expected to return to pre-pandemic levels until 2024.

The lack of business travel and events has major repercussions for employment both directly on hotel properties, and in the broader community, according to AHLA. Hotels are expected to end 2021 down nearly 500,000 jobs compared to 2019. For every 10 people directly employed on a hotel property, hotels support an additional 26 jobs in the community, from restaurants and retail to hotel supply companies—meaning an additional nearly 1.3 million hotel-supported jobs are also at risk.

Sixth Annual Saratoga Giant PumpkinFest Weigh-Off To Take Place On September 25

September 17, 2021

Giant pumpkin growers from the Northeast will again compete at the Saratoga Giant PumpkinFest Weigh-Off at the Saratoga Springs City Center Parking Garage.
Courtesy Saratoga County Chamber of Commerce

The Saratoga County Chamber Of Commerce, the Saratoga Springs City Center, and the Saratoga Farmers Market will host the sixth annual Saratoga Giant PumpkinFest Weigh-Off on Sept. 25.

It will be held at the Saratoga Springs City Center Parking Garage.

Giant pumpkin growers from the Northeast will again compete at the festival to find the biggest pumpkin of the year.

In 2019, there were 40-plus giant pumpkins and a crowd of 10,000 people in attendance, according to the Chamber.. Last year, the pumpkins were weighed and then safely transported to locations for families around the county to view during the month of October.

The Saratoga Giant PumpkinFest is a free, family friendly event. These giant pumpkins begin arriving in the early in the morning, with the weigh-off starting at 11 a.m. There will be the Saratoga Farmer’s Market next door on High Rock Avenue, with food vendors, and special exhibits.

Shelters Of Saratoga Partners With Group To Provide Apartments, Support Services

September 17, 2021

Shelters of Saratoga (SOS) has entered a partnership with The Business for Good Foundation to provide affordable apartments with support services to low-income residents.

The foundation gifted long-term use of the building at 1 Franklin Square, Saratoga Springs, to build the availability of supportive and affordable housing in the city.

“The gift works to fill the community need for affordable apartments with supportive care,” said Duane J. Vaughn, executive director at Shelters of Saratoga. “Access to health care, food, employment, and community services promotes self-sufficiency and stable housing.”

Known for their continued charitable giving in the Saratoga community, Ed and Lisa Mitzen formed Business for Good with a mission to invest in people to build better businesses, stronger communities, and a more equitable world.

1863 Club At Saratoga Race Course Remains Open To Host Events During Track Offseason

September 17, 2021

The 1863 Club, which debuted during the 2019 season, will for the first time be available for private events during the racing offseason now through June.
Courtesy NYRA

The 1863 Club at Saratoga Race Course will for the first time be available for private events during the racing offseason now through June, the New York Racing Association (NYRA) announced.

The 1863 Club, which debuted during the 2019 season, is a three-story, climate-controlled hospitality building located on the Clubhouse turn overlooking the historic main track at Saratoga Race Course. The building features differentiated hospitality options for a wide variety of uses and experiences, including weddings, fundraisers, reunions, and corporate dinners.

The first-floor banquet space, The Rail at the 1863 Club, features floor-to-ceiling windows overlooking the main track and accommodates up to nearly 500 individuals. The second floor, presented by Resorts World, accommodates up to 300 guests. The third floor offers three luxury suites each welcoming between 30 to 45 guests for intimate gatherings.

“We have received tremendous feedback from those who have enjoyed a day at the 1863 Club during the Saratoga racing season and are excited to provide even more guests with the opportunity to experience this unique space year-round,” said Kevin Quinn, NYRA vice president of sales and hospitality. “The 1863 Club, with its sweeping views of Saratoga Race Course, is ideally suited to host events of all shapes and sizes during the off-season.”

‘Way We Were’ Car Show Returns To Ballston Spa In October on Front Street In The Village

September 17, 2021September 17, 2021

The Ballston Spa Business & Professional Association (BSBPA) announced plans for the 19th annual “The Way We Were” car show to be held Sunday, Oct. 10, 9 a.m. to 4 p.m. on Front Street in Ballston Spa.

The rain date will be Oct. 17.

The event is free to spectators.

“We are delighted to be back together again in downtown Ballston Spa after having to go virtual last year due to COVID,” said Donna Dardaris of the BSBPA who serves on the car show’s leadership team. “We invite the public to come stroll our historic village, check out the hundreds of cars and trucks on display, and enjoy the live music, vendors and downtown businesses. It’s a great day for the whole family.”

Front Street will be blocked off from Milton Avenue past the Old Iron Springs to accommodate car exhibits and vendors. In addition to food and merchandise vendors, the show will again feature a Kids Zone, located by the Old Iron Springs, which will feature free children’s activities.

Vapor, Entertainment Facility At Saratoga Casino Hotel, To Reopen September 30

August 12, 2021

Vapor closed in March 2020 and although it could have reopened earlier, Saratoga Casino Hotel kept the entertainment venue closed so it could renovate the space.
Courtesy Saratoga Casino Hotel

Saratoga Casino Hotel will reopen its Vapor entertainment space on Thursday, Sept. 30, after being closed for nearly eighteen months during the COVID pandemic.

Vapor closed in March 2020 and although they could have reopened earlier this year, Saratoga Casino Hotel chose to keep the entertainment venue closed so it could renovate the space.

Vapor will reopen with a new look and new dance floor, and will continue to showcase live entertainment every weekend featuring top-performing local bands with no cover charge.

Special events including tributes and national acts will be scattered throughout the entertainment calendar. Shows originally scheduled for 2020, Material Girls and Michael Grandinetti, are now on sale for new fall dates. Material Girls—a tribute performance to Madonna, Cher, Lady Gaga and Adele—will appear on Oct. 8, and illusionist Michael Grandinetti is scheduled for Nov. 19. Tickets originally purchased for the 2020 dates will be honored. To purchase tickets, visit SaratogaCasino.com or Tix.com.