By Dennis Brobston
One of our beloved presidents, Abraham Lincoln, once said “The best way to predict the future is to create it.” That is our belief at Saratoga Economic Development Corp. (SEDC).
Creating Saratoga County’s economic development future has been our mission for over 43 years of existence. Working with SEDC to create our economic future are many partners: Saratoga County and local governments, Saratoga County businesses large and small, our Industrial Development Agencies (IDAs), universities and colleges and our K-12 school districts, to name a few. Over the last decade, SEDC and our stakeholders helped to create over 1,700 new jobs with over $170 million in payroll while retaining over 2,050 existing jobs at Saratoga County companies.
The year 2021 was another strange year as we all continued to adapt thru the ongoing COVID-19 pandemic. Like 2020, we were thrust into uncharted waters for supporting our existing businesses in Saratoga County while marketing our region for new and exciting companies looking for fertile ground to grow their businesses. And like 2020, this past year of 2021 proved to be another banner year delivering over $110 million in new investment while creating 182 new jobs and over $11.5 million in payroll.
Over the last two years, we have supported $232 million of investment creating over 629 jobs with over $38 million in new payroll while retaining 730 existing jobs. The years 2020 and 2021 are the first back-to-back years with more than $100 million investment in our 43-year history. We are thankful for all of the projects that allowed us to excel during this pandemic.
Promoting Saratoga County’s sites and buildings to site selectors across the country and throughout Europe will continue in 2022. Our efforts to create more product (pre-zoned sites and buildings) continue as we work with our municipalities eyeing this type of growth. “On spec” flex space is being built regularly in Saratoga County and the support of the Saratoga County IDA and the Town of Clifton Park IDA is vital to that continuing.
The rising costs of steel and building materials make it difficult to develop without the incentives our IDAs use to support new growth. Prospects require pre-approved sites and buildings in order to meet increasingly tight deadlines to produce and distribute products. We appreciate working with our planning boards and staff, property owners, developers and real estate associates as prospects look to us for guidance on efficient turnarounds for projects.