Saratoga Business Journal

Business Brief: March 2023

March 13, 2023

The Saratoga Builders Association Inc. will be awarding two student scholarships in 2023.

One is the SBA $1,000 scholarship award and the other is the $1,000 Bob Best Memorial Scholarship award.

The organization makes the scholarships available annually to students who are planning to pursue a construction industry education. They are open to any high school senior or college undergraduate in Saratoga County planning to pursue a construction education at a two- or four-year accredited college or university; or to students who would like to purchase tools and/or equipment for employment/career or to start a business in the construction industry.

Students must have a GPA of 3.0 or higher. They must demonstrate current or past involvement in the construction field, including classes taken in high school or college, to be eligible for these awards.

Each applicant must also submit a high school or college transcript or list of construction classes taken plus a short essay describing why they are interested in a construction industry career and what events led to this decision.

Applications must be postmarked on or before April 1. Only the first 25 completed applications will be accepted. The winner and their school will be notified by June 1.

To receive a scholarship application,contact Barry Potoker, executive director, at 518-366-0946 or bpotoker@saratogabuilders.org.

***

PDT Market In Downtown Saratoga Springs Combines Grocery, Fresh Meals And A Bar

March 13, 2023

Adam Foti poses in his PDT Marketplace in Saratoga Springs, which he describes as having a ‘French and Italian feeling.’ He had the building completely gutted and renovated.
©2023 Saratoga Photographer.com

by Jill Nagy

When Adam Foti’s PDT Marketplace opens later this month, it will be “not like any supermarket you have ever seen,” he said.

The market, in the former Price Chopper store at 55 Railroad Place in downtown Saratoga Springs, will have seven aisles of groceries surrounded by prepared foods, flowers and plants, a variety of personal care and household products. It will also have a bar and places to sit and eat.

PDT stands for Pomme de Terre, translated on the PDT Marketplace website as “apple of the earth,” but more commonly, a potato.

Foti combines his skills and experience as a trained chef with what he has learned in more than 20 years in corporate retail.

He describes the atmosphere of his business as having a “French and Italian feeling.” To produce that feeling, he had the building completely gutted and renovated.

“We just kept the shell of the old store,” he said. Bonacio Construction did the work, guided by ABN Design.

Skidmore College Names New VP For Finance And Administration, Treasurer

March 13, 2023

Daniel T. Konstalid, VP for finance and administration, treasurer at Skidmore College.
Courtesy Skidmore College

Daniel T. Konstalid, an experienced senior financial officer with an extensive background in higher education, has been appointed vice president for finance and administration and treasurer at Skidmore College.

Konstalid will begin his role on June 15 and serve as the college’s senior officer in all financial and business matters. He joins Skidmore from Gettysburg College, where he has served as vice president for finance and administration and treasurer since 2006.

At Gettysburg, Konstalid has led the formation of a financial strategy for the college to advance key programmatic initiatives and ensure its continuing financial stability while overseeing financial, accounting, budget, treasury, and endowment management; facilities planning and operations; human resources; risk management; and auxiliary services.

Among his many duties, he also served as a member of the faculty finance committee and the campus emergency response team.

“Skidmore will benefit greatly from Dan’s strategic insight and management skills, and he brings exceptional expertise to this important leadership role,” said Skidmore College President Marc C. Conner. “His keen judgement, financial acumen, and exceptional understanding of the value of the liberal arts in today’s world will help ensure that Skidmore College continues to prosper and that our students thrive.”

Konstalid previously served as vice president for finance and administration at Le Moyne College in Syracuse; controller and director of budgets at Hamilton College in Clinton, N.Y.; and senior audit manager at Pricewaterhouse Coopers in Syracuse.

Amy Roman’s Company Helps Businesses By Providing Specialized Staff And Training

March 13, 2023

Amy Roman has owned CEFO Advisors for 10 years.
Courtesy CEFO Advisors

By Jill Nagy

Small businesses need as much, if not more, support than their larger counterparts. CEO’s and business owners often find themselves struggling with balancing cash flow, managing teams of staff, attracting banks and investors, and so much more.

The Saratoga Springs -based company, CEFO Advisors, provides a variety of professional staff members that specialize in meeting those needs on a part-time basis. CEFO was built on the very premise that they can put a strong team in place to properly support their client needs using effective and innovative processes.

Amy Roman has owned the company for 10 years. For the first five years, however, Roman was the only employee. Eventually, she realized that her clients “needed more than just me,” and for the past five years, she has been hiring CFO’s, controllers, and additional support staff to place with clients, working within their businesses.

Early on, Roman recognized the benefit she could offer her clients by providing focused CFO support and strategic services that can be achieved through outsourced, forward-thinking business and accounting solutions. One of her clients commented that “Amy did a good job closing the gap between the CEO and CFO” and thus the company name CEFO Advisors was born.

Fast forward to 2023, Roman’s company supports over 65 businesses both locally and out of state. Roman currently has 18 employees including managers, accountants, bookkeepers, controllers, CFOs, and staff training specialists, which she matches with companies needing their specialized skills and expertise.

Many are part-timers, working parents, or semi-retired professionals ready for a second career. They work flexible, hybrid hours that include working at home or in the CEFO offices, while maintaining the availability to work on site at the client’s company as needed, Roman said.

DeAngelus, Goralczyk PLLC Constitutes One Of Largest Women-Owned Firms In The Area

March 13, 2023March 24, 2023

Karen DeAngelus is a partner in DeAngelus Goralczyk, PLLC in Clifton Park.
Courtesy DeAngelus, Goralczyk PPLC

By Christine Graf

Attorneys Karen DeAngelus and Jacqueline Goralczyk opened DeAngelus Goralczyk, PLLC in Clifton Park in 2019, and since that time, they have expanded their firm significantly.

Their law practice now employs 11 attorneys and 10 support staff members. In addition to their headquarters in Clifton Park, the firm has offices in Schenectady, Saratoga Springs, Williamsville, N.Y., and Bonita Springs, Fla.

Although there are other women-owned law office in the area, there are few that are as large as DeAngelus Goralczyk.

“I think that being a women-owned firm of our size is unusual. We credit our success to keeping a laser focus on customer service and trying to serve our clients in a way that allows them to meet their goals,” said Goralczyk.

The pair decided to open their own firm after working in real estate law at different law practices in area. Having worked on opposite sides of transactions, they realized that had very similar ways of conducting business.

DeAngelus Goralczyk had been operating for just 11 months when the COVID-19 pandemic hit. In the early days of the pandemic, the partners worried they would not be able to keep the new firm afloat.

“We were very nervous and had no idea what would happen,” said Goralczyk.

Because residential and commercial real estate is one of DeAngelus Goralczyk’s core practice areas, the pandemic-triggered real estate boom resulted in a surge in an unexpected business.

Only EOS Session Room Between NYC Area and Plattsburgh Now Open

March 13, 2023

Wendy Waldron owns WaldronWorks and is a Professional EOS Implementor. Seen here in her new 1,200-square-foot office and EOS Session Room in Union Square, 9-11 Broad Street, Glens Falls.

By Paul Post

Gerald Davis wants to open a second location for his successful heating and cooling business, and document its growth with a long-range goal of having employees partner up with him as franchise owners.

JoAnna Schwartz felt the need for more structure and better processes at Name Bubbles, an e-commerce company that makes personalized waterproof name labels and decals, to ensure the firm’s future prosperity.

These are just two of many area business leaders that have turned to Wendy Waldron to teach, facilitate, coach, lead and direct them through critical phases of their respective operations.

She owns Glens Falls-based WaldronWorks, and is a Professional EOS Implementer for the Entrepreneurial Operating System (EOS), whose principles have helped clients around the world overcome business problems as well as identify and take advantage of new opportunities.

“We need Wendy’s help coaching and teaching us to be a great company, not just a good company,” said Davis, owner of Cambridge-based Superior Co-Op HVAC. The firm specializes in heating and cooling systems, using Mitsubishi hyper heat pumps, which maintain a desired temperature without the use of fossil fuels

Davis began working with Waldron in January after discovering that other successful companies use EOS, too.

Schwartz, Name Bubbles vice president, said the leadership team started the EOS process in spring 2021.

SEDC Stakeholders ‘Have A Seat At The Table’ That Helps Bring Its Projects To Fruition

March 13, 2023

By R.J. DeLuke The Saratoga Economic Development Corp. (SEDC) has been a driving force in the economic development in the area for more than four decades. Functioning as an independent, nonprofit group, its purpose is to create jobs and diversify the tax base. It is always examining what business or industry might be a...

Capital District Chamber’s ‘Unprecedented Array Of Resources’ Benefits Its Membership

March 13, 2023

Peter Bardunias, senior vice president, Capital Region Chamber.
Courtesy Capital Region Chamber

BY PETE BARDUNIAS

For decades, Saratoga County has been blessed with multiple large organizations supporting economic development, including chambers of commerce, EDCs, local development agencies, IDAs, and more.

One of these, the Chamber of Southern Saratoga County (CSSC), was founded in 1967 to promote Clifton Park and Halfmoon, eventually providing support for the towns, villages and suburbs just north of the Mohawk River. By its 50th anniversary, the organization had grown to be in the top 10-12 percent of chambers statewide, despite still being the “small” chamber in Saratoga County.

Like many nonprofits in the past decade, the CSSC board evaluated potential partners for collaboration, affiliation or outright merger, culminating with affiliation into the 2600 member Capital Region Chamber in 2020, just weeks before the onset of the COVID pandemic.

As one of three large chambers making up the Capital Region Chamber (along with the eight-county Center for Economic Growth), the CSSC continues to be the official chamber of commerce of Clifton Park and Halfmoon, the administrator of the Saratoga County Community Development Program (funded in part by the Saratoga County Board of Supervisors) and the operator of the visitor center inside of the Clifton Park rest area at Northway Exit 8 that sees over 200,000 visitors annually.

It remains committed to supporting events such as the festivals in Waterford, the Great Upstate Boat Show, the Saratoga County Fair, Clifton Park July 4, movies, concerts and car show in the village of Ballston Spa, the Burnt Hills Flag Day parade, the Malta Business Community Alliance, and much more.

Proposed Project Would Add 382 Luxury Apartments To The Wilton Mall Property

March 13, 2023

This is a rendering of the luxury apartment complex proposed as part of the ‘re-imagined’ Wilton Mall property two development firms are seeking to create.
Courtesy Paramount Development

The Wilton Mall ownership and Paramount Development have proposed adding new multifamily housing to the shopping center property as part of its transformation from strictly a retail facility to a more community centric mixed-use destination.

The project includes 382 new luxury, market-rate rental residences, including both apartments and townhomes. The enhancement to the community will feature premium resident amenities and sophisticated design.

Officials said the $120 million investment in Wilton will drive significant new sales and property tax revenue for Saratoga County and the Town of Wilton.

The housing community’s new residents will translate to new customers spending money at the Wilton Mall as well as surrounding retail, restaurants and entertainment facilities.

According to the developers, recent years have seen unprecedented changes in the retail industry, requiring shopping malls to evolve in response or risk going out of business. In July 2007, Wilton Mall backfilled the former retail space with a grocery store and fitness center. It marked the first steps towards the mall’s mixed use evolution.

In 2018, Wilton Mall experienced two anchor store closings—Sears and Bon Ton. Within two years the Saratoga Hospital opened in the former Sears store. Now Wilton Mall has an opportunity to further expand upon its uses and plans to repurpose the former Bon Ton site with amenity-rich apartments and townhouses.

Business Report: EDC, Our Communities And The Way Forward

March 13, 2023

Jim Siplon, president and CEO, EDC Warren County
Courtesy EDC Warren County

By Jim Siplon

Earlier this year EDC Warren County shared a stark view of the future economy as we age, try to compete with a smaller and smaller workforce, and still build a community and economy that works.

To help catalyze the needed investments, public policy work, and collective actions needed to attract new, younger residents that can support our diversified economy for the long haul, EDC is adding “convener” to our list of roles we play supporting our businesses and communities.

Last year we brought Dr. Rachel Sederberg to Warren County from leading labor market research firm EMSI Burning Glass to share deep insights on the “demographic drought” we are all experiencing. Using that groundbreaking research and aggregating it with local economic data that is current and novel, EDC is now engaged in meeting with as many audiences as we can to share the underlying foundation for our position.

Convening as many groups as we can, EDC is sharing the data over the last 50 years that led to where we are so we can have informed discussions and public discourse on what we must do to navigate and adapt to our new normal.

One lesson I learned over and over in my previous chapters as a military, business and sustainability leader was the value of not rushing to action, especially on problems that took generations to develop.