Eight things you need to know about the impact of COVID-19 on 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. Fastest Growing Companies in the Capital Region
The Albany Business Review recently announced the Fastest-Growing Companies in the Capital Region and Saratoga Partnership client G&G LED Lighting out of Halfmoon was ranked #2! The Saratoga Partnership worked with G&G Lighting and UAlbany to assist them with access to the STARTUP NY program. They are pursuing new product lines and market sectors for their innovative waterproof LED lighting technology. Saratoga Partnership President Shelby Schneider said,"This project exemplifies how public-private-academic partnerships facilitate economic growth by fostering the development of innovative technology, retaining students in our region, and offering them exciting careers in growing businesses. Founders Jason and Cory Baright have a bright future ahead of them and we look forward to helping G&G grow."

Other Saratoga County-based businesses that made the list were Total Facility Solutions Inc. (#3, Malta), Aerosmith Development (#11, Saratoga Springs), Fingerpaint (#16, Saratoga Springs), Skidmore College (#22, Saratoga Springs), Jersen Construction Group (#24, Waterford), Espe Mfg. & Electronics Corp. (#31, Saratoga Springs), Hudson River Community Credit Union (#36, Corinth), MLB Constuction Services LLC (#37, Malta), GTM Payroll Services Inc. (#40, Clifton Park), and Stewart's Shops Corp. (#46, Saratoga Springs). Fastest-Growing Companies is ranked by three-year revenue growth, in this case, growth between 2016 and 2019.
2. Age-Friendly Community Survey of Saratoga County, NY
Saratoga County Public Health and Saratoga County Board of Supervisors are conducting a survey to find out more about how communities in Saratoga County are making themselves more livable for people of all ages. This survey is part of the World Health Organization's (WHO) Age-Friendly grant that Saratoga County Public Health was awarded. This funding will help foster a supportive, healthy environment in which people can grow, work and live over their lifespan, from birth to old age. Specifically, age-friendly communities seek continuous improvement along eight domains of livability that combine concepts of healthy aging, preventive health, smart growth, and having an active role in the workforce. Click here to take the survey. The Saratoga Partnership is looking forward to taking part in the Age-Friendly Committee as part of the WHO grant.
3. Semiconductors are the engine of the global economy— America isn’t making enough of them
Fortune Magazine published a recent article by Keith Jackson, president and CEO of ON Semiconductor, and chair of the Semiconductor Industry Association on the steps America needs to take to make manufacturing here more competitive. U.S. companies have led the world in chip technology for decades. But now only about 12% of the world’s semiconductor manufacturing is done in America, owing largely to heavy subsidies from competing governments. Addressing this challenge and strengthening U.S. semiconductor manufacturing and research is the space race of our time.  Every dollar invested by the federal government in semiconductor research creates $16 in GDP growth.  Click here to read more.
How can the Semiconductor Industry Can Emerge Stronger After the COVID-19 Crisis? This article by McKinsey & Company looks at recovery scenarios, the impact of COVID-19 on long-term demand, and how semiconductor companies can emerge stronger from the crisis.
4. Mapping America's Underwater Real Estate
Millions of Americans just woke up in a flood zone that had never before been listed on U.S. government maps. The first-ever public evaluation of flood risk for every property in the 48 contiguous states has found that federal maps underestimate the number of homes and businesses in significant danger by 67%. The new flood-risk data, released a week ago by research and technology nonprofit First Street Foundation, is a virtually unprecedented disclosure of how much damage climate change can be expected to inflict at the level of individual homes. See the new flood maps here.
5. Travel Patterns Show How the Virus Spread in the U.S.
The New York Times traced the hidden spread of the epidemic to explain why the United States failed to stop it. These visuals show the movement of the virus based on travel patterns, cell phone data, case reports, disease modeling, and genetic sequencing. In hindsight, the model reveals how the virus spread throughout the U.S.
6. How US Companies Are Planning For a Safe Return to the Workplace
As COVID-19 lockdowns lift across the United States and worldwide, company leaders are considering the monumental challenge of how to restart and then run their businesses while ensuring the safety and well-being of their employees and where applicable, customers. To gain insight into the potential steps US companies are taking, McKinsey & Company surveyed 100 executives at firms across the country and across industries. The survey results suggest that companies are implementing a range of changes to practices, policies, and the physical work environment to facilitate a safe return to the workplace. Click here to see what companies are planning or already doing to keep their employees safe.
7. Foreign Trade Zones: A Key Tool to Navigating Tariffs
With an ongoing trade war between the U.S. and China, tariffs don’t seem to be going away any time soon. But   foreign trade zones can be a helpful tool for companies  looking to mitigate the impact of tariffs on their bottom line. A foreign trade zone, or FTZ, is any facility in the United States that's properly approved by both the Commerce Department and U.S. Customs to be able to receive goods in duty-free status, to manipulate, manufacture, or just store and distribute into the United States, or export those goods. Then the duty is only paid on that which comes into the United States. No duty is paid for anything that's destroyed, returned to vendor, no duties paid for any export. Call the Saratoga Partnership at 518.871.1887 to learn more about foreign trade zones and how your business might benefit from them.
8. A Brief History of Drones
Although originally built for military purposes, drones have seen rapid growth and advancements and made a break to consumer electronics. Their original use was as weapons, in the form of remotely-guided aerial missile deployers. However, today, drones have found a wide range of applications for civilian use, including monitoring climate change, delivering goods, aiding in search and rescue operations, and in filming and photography. Of course, UAVs are also an increasingly important part of the military in many countries. American armed forces alone have a fleet of tens of thousands of drones today, compared to just a few twenty years ago. This is dwarfed, however, by the number of drones in private use. According to the FAA, there were 1.1 million drones registered in the U.S. in 2019. From the first pilotless aircraft to today's DIY drones, here is a brief history of UAVs .
Keep up to date on the latest COVID-19 information and resources on our website www.SaratogaPartnership.org , Facebook , Instagram , Twitter , and LinkedIn .

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