Eight things you need to know on topics related to Saratoga County's economy.
8 @ 8 is a newsletter filled with eight things you need to know on topics related to the economy in Saratoga County, New York. You can expect to see 8 @ 8 in your inbox twice a month. If you have content you'd like us to share or have a topic you'd like to see more of, let us know and we'll work to include it in a future edition! - The Saratoga Partnership Team
1. $60 Million Workforce Housing Project Proposed in former Victory Specialty Packaging Facility
The Saratoga Partnership is pleased to be working with, experienced and accomplished workforce housing developer, Regan Development, to convert the former Victory Specialty Packaging textile mill and cardboard packaging plant into 186 apartments with a brewery, brew pub and amphitheater. The proposed $60 million investment at the abandoned Victory Mill, which closed nearly two decades ago, would create a blend of one- and two-bedroom apartments with a mix of market-rate and lower-priced rents to attract young professionals with a range of incomes. Workforce/affordable housing is a critical issue in the Saratoga County economy and this project will help meet the need for affordable housing for young professionals. The former mill, which once employed up to 100 people, is listed on the National Register of Historic Buildings. Regan has committed to restoring the mill in keeping with historic restoration standards. The Saratoga Partnership team looks forward to assisting Regan's team to make this project a reality for the Village of Victory. Click here to read more in the Business Review.
2. Saratoga Hospitality and Tourism Index Panelists Announced
Join us on November 13th, from 11:30am - 1:00pm at Excelsior Springs Event Center at 47 Excelsior Ave, Saratoga Springs, as we explore the economic impact that Hospitality and Tourism has on the Saratoga County economy. The event, presented by the Adirondack Trust Company, will feature a presentation of data collected by the Saratoga Partnership team. Hear first hand from a panel industry experts David O’Rourke, CEO & President of The New York Racing Association, Inc. (NYRA) ; Darryl Leggieri, President of the Saratoga Convention and Tourism Bureau ; and Cindy Hollowood, former general manager of the Holiday Inn Saratoga Springs, about challenges and opportunities in the Saratoga County Hospitality & Tourism sector. Click here to register. Please contact Shelby Schneider at 518.871.1887 if you are interested in sponsoring this exciting event.
3. Saratoga Prosperity Partnership To Help Create Economic Development Plan For Malta
The Saratoga County Prosperity Partnership is working with the Town of Malta to create a customized, town-wide economic development plan designed to broaden the town’s economic base and ensure its long-term prosperity.
The collaboration is part of the Saratoga Partnership’s Next Wave Communities initiative, which assists towns within Saratoga County in developing economic development plans tailored to their particular strengths, needs and aspirations. Officials said the effort will build on initial work done by the Malta Economic Development Committee, which prepared a plan for the long-term economic future of the town outside the Luther Forest Technology Campus. Click here to read more from the Saratoga Business Journal .
4. Reinforce your Brand, Attract Employees and Win Customers with Social Media
The Saratoga Partnership team is co-hosting a series of social media seminars, in partnership with SUNY ADK Business Central and the Adirondack Regional Chamber of Commerce to help small businesses make the most out of free social media tools to market their businesses. This Thursday, October 17th, our panel of experts will share best practices for unleashing the power of social media to benefit your business. Come hear from Miriam Dushane, Managing Partner with Alaant; Steve Janack, Founder and Principal of the Janack Group; and Michael Fallone, Co-Founder and Creative Director of id29. Thu, October 17, 2019 from 7:30 AM – 9:30 AM EDT at SUNY Adirondack Saratoga, 696 Route 9, Wilton. Click here to register.
5. Join us for a Job Fair at Saratoga Springs Public Library October 30
On Wednesday, October 30, representatives from several local businesses including BOCES Adult Education, Employment Training for Adults, Hannaford, ESPEY, Saratoga Bridges, Saratoga County Prosperity Partnership, Skidmore College, resources for veterans, the US Census Bureau, The Wesley Community and others will be recruiting for available jobs in Saratoga County. Apply for jobs on the spot. Don't have a resume? We have you covered. The Saratoga Springs public library will have resources available to help applicants write, and print resumes. All are welcome at the event being hosted from 11:00am - 3:00pm! Registration for job seekers is encouraged through the Saratoga Springs Public Library online events calendar or by calling 518-584-7860, ext. 247.
6. Tradespeople in Demand for Skilled Labor
The Capital Region is hungry for tradespeople – men and women trained to be carpenters, welders, HVAC technicians, electricians and plumbers. The problem is, not enough people are going into those fields. According to data collected by the state Department of Labor, there was an average of 373 job postings in construction and extraction at the beginning of each month for the first half of the year – up 3.8 percent from the same period in 2018 and 12.4 percent over 2016. But despite the job openings, employment in the region's construction sector was flat in 2018, and the local manufacturing workforce grew less than 1 percent. And there's water cooler evidence from everyone who tries to find someone to build a deck or paint a house and finds themselves on a long waiting list. The unemployment rate for the area is low at 3.7 percent, but that doesn't fully explain why there aren't more people going into the trades. The reasons are tied to education policy from the top down. Click here to read more from the Times Union .
7. Why So Few Teenagers Have Jobs Anymore
The share of teens participating in the labor force sank from roughly one-half to one-third of the population — a decrease of 17 percentage points — since 2000. Yet kids today are not slacking off; they are working harder in school and have less free time than teenagers had in the past. The share of teens participating in the labor force peaked 40 years ago and has  declined ever since . In 1979, nearly 60% of American teenagers were employed, an all-time high. Today, just over one-third, or 35%, of teens between the ages of 16 and 19 are part of the workforce. Teens are less likely to work part-time while in school and also less likely to work over the summer, according to  a study by the Hamilton Project and Brookings Institution . Take our poll to provide insight and read more here .
Do you have a job a teen could fill?
Yes
No
If a teen applied for a part-time job at your establishment, would you be willing to hire them?
Yes
No
8. 4 Ways Tariffs Could Make Football Season More Expensive
Football season is underway, which means it’s time to dust off your lucky drink koozie, wash that beer-stained jersey and sharpen your understanding of U.S. international trade policy — because there’s a new penalty in play that threatens to interfere with your enjoyment of the game. For example, while thousands of footballs are produced in the United States (around 700,000 a year at just one Wilson Sporting Goods  factory , for example), many are manufactured overseas, including in China. On September 1, all footballs manufactured in China were hit with a 15 percent tariff. Fanwear, TVs, and tailgating paraphernalia are all expected to rise in price as well, following new tariffs. Read more here .
EVENTS
10.17.19 USING SOCIAL MEDIA TO BUILD YOUR BRAND AND BOTTOM LINE - click here to register
10.30.19 JOB FAIR at Saratoga Springs Public Library - click here to register
11.5.19 - STOP FAKES - Intellectual Property Protection Roadshow - click here to register
11.13.19 - SARATOGA COUNTY HOSPITALITY + TOURISM ECONOMIC INDEX - click here to register