Category Archives: Business News

By Christine Graf

After being shut down for more than a year due to the COVID-19 pandemic, the 4,800-seat Cool Insuring Arena in downtown Glens Falls reopened at limited capacity in April. At that time, event attendees were required to wear masks and present negative COVID test results. Those restrictions are no longer in place.

“In the middle of June of this year we were able to reopen normally which was a breath of fresh air,” said arena manager Jeff Mead. “As long as we have under 5,000 people in the building, there are no restrictions.”

Seventy-five percent of the arena’s staff have returned to work, and the rest are expected to return by the end of August, he said. Mead and his operations manager were the only two employees who remained working throughout the shutdown.

The arena hosted four dance events and three graduations during the month of June. Some occurred while the mask and testing mandates were still in effect.

“There were unfortunately a few people who weren’t the happiest of customers,” said Mead. “They either didn’t want to wear masks or didn’t think they should have to show a negative test. It was unfortunate, but I would say that 97 percent of people understood.”

Because of the pandemic, the arena was forced to cancel the 2020-2021 season for its East Coast Hockey League (ECHL) team, the Adirondack Thunder. An affiliate of the NHL’s New Jersey Devils, the team will play its home opener for the 2021-2022 season at the arena on Oct. 23. 

By Lisa Balschunat

National Commercial Solar Advisors Inc., with its office in Queensbury, is harnessing energy for businesses and residential properties in New York state, New Jersey and Vermont, and has its sights on Florida next, according to president and founder Brent McDevitt.

Established in 2019, the company has simplified the process of “going solar” for businesses, communities and public organizations by providing customers with a comprehensive proposal and package that makes the process seamless. With nine years of experience in the solar industry and previously aligned with Apex Solar, McDevitt said that he “knew the industry would pop” and wanted to be a part of it.

“When businesses invest in commercial solar energy they can significantly reduce their operating costs and potentially save tens of thousands of dollars over time,” McDevitt said. “This allows businesses to free up cash flow to use in other areas, and of course, utilize a green energy source that is good for the environment.”

Solar panels do not require any additional maintenance to a building or property and McDevitt stated that most systems are guaranteed for up to 25 years. 

“Businesses who invest in solar energy receive a 26 percent federal income tax credit and 100 percent bonus depreciation” he said.  The company offers customers looking to go solar with a total package of upfront services including a comprehensive proposal, site visit, design plans, state and federal application assistance through to a final contract.

Promenade Apartments, a $20 million affordable and supportive housing development located in downtown Saratoga Springs, has been completed.

Financed in part with $16.5 million in low-income tax credits through New York State Homes and Community Renewal, the development is providing 63 affordable homes, including 10 apartments reserved for homeless veterans.

Promenade Apartments consist of a four-story building with 41 apartments and three two-story townhouse-style buildings with a total of 22 units. Altogether, the development features 31 one-bedroom, 26 two-bedroom, and six three-bedroom apartments—all affordable to households earning at or below 80 percent of the area median income, state officials said.

It was developed by Norstar Development USA, LP, and the Saratoga Springs Housing Authority. Supportive services will be provided by the Veterans & Community Housing Coalition.

Amenities include Energy Star appliances, a community room with laundry facility, a fitness room, storage space for tenants and an outdoor playground area. The development is also located within a half-mile of retail stores, schools, bus transportation lines, pharmacies, banks, libraries, health centers, grocery stores and restaurants.

The units are at 1 South Federal St., on he same property at Stonequist apartments.

By Jill Nagy

Roma Foods Importing Co., an Italian specialty foods company with stores in Saratoga Springs and Latham,  has a new owner and will soon have a new name, expanded menus, and enlarged facilities.

Cardona’s Market, a similar business located in Albany, bought the Roma business in June. They are building a large production kitchen at the Latham location and expanding the kitchen in Saratoga at 222 Washington St., according to Robert Cardona, one of the three brothers who own the company.  In time, the Roma locations will be renamed Cardona’s, he said.

The Cardona brothers, August, Robert Jr., and  Anthony, are the third generation to own the business which was founded in downtown Albany in 1945. Roma also traces its roots to Albany, where it was founded by Frank Bolognino in 1946. His four sons ran the business at the time of the sale. They plan to retire but Frank’s granddaughter, Nicole Bolognino, who manages the Latham store, is staying on through the transition.

The Saratoga store “cranks out sandwiches like crazy,” said Robert Cardona Jr.

Under the new ownership, the store will continue to feature sandwiches but will offer a greater variety, he said. Cardona’s catering menu will be introduced to the Saratoga Springs store, along with expanded take-out items, a steam table for hot food, more “grab and go” offerings, and a few cafe seats for customers who prefer to eat inside.

The new owners expect to move some equipment around and change the layout of the store for better customer flow and shorter waits, Cardona said.

Muroff Hospitality Group announced the sale of The Lake George Suites, 3678 Lake Shore Drive in  Lake George.

The owner of a Long Island air conditioner and pump manufacturing company has purchased the resorts, a six-bedroom home and 20 boat slips for $3.2 million.

R.E. Hansen Industries Inc. of St. James is the new owner.

Mitch Muroff of Muroff Hospitality Group represented the Seller and secured the buyer in a confidential listing presented only to qualified buyers.

The transaction closed on Tuesday, June 15, Muroff said.

The manager who previously oversaw the property will continue in the same position under the new ownership, he said.

GlobalFoundries has announced its expansion plans for its most advanced manufacturing facility in upstate New York over the coming years. The plans include immediate investments to address the global chip shortage at its existing Fab 8 facility in Malta, as well as construction of a new fab on the same campus that will double...

By Christine Graf

Arnoff Global Logistics is seeking approval to expand its 40-acre Malta headquarters, the former home of Racemark International.

The fifth-generation, family-owned moving, storage and logistics company has been in business for 97 years and has a satellite location in Duchess County. They relocated to Malta almost five years ago after outgrowing their Albany headquarters.

“We decided to buy the property and create what we call a logistics campus where companies can come to us with a logistics requirement or a logistics problem,” said company president Mike Arnoff.

Approximately 125 of Arnoff’s 200 employees are based in Malta where the company has invested more than $16 million during the past five years, he said.

“We renovated the existing 70,000-square-foot building on the site that was vacant and we’ve since expanded that building twice to about 175,000 square feet. We also built a truck garage on the property,” said Arnoff.

“Encompassing our campus, we also have office space for companies. We have warehouse space to rent, we have Arnoff-managed warehouse space to operate in, and we provide a multitude of different services for our clients in a campus setting.”

The proposed expansion has a price tag of $18.7 million and would include the construction of two buildings. If approved, an estimated 45 new jobs would be created over the course of the next three years. In order to offset the cost of the project, the company has applied for various tax incentives through the Saratoga County Industrial Development Agency.