Saratoga County Success: 291 new jobs and nearly $19 million in new payroll so far this year. Here’s how.

July 27, 2016

SARATOGA SPRINGS, N.Y. -- In the first six months of 2016, the Saratoga Economic Development Corporation assisted six new or existing businesses with projects that are projected to create 291 new jobs.

outclients.jpg

The recently released mid-year economic development performance data also show that the six approved projects on which SEDC worked will:

  • Create a projected $18.68 million in new annual payroll, with an average salary of $64,192 — 26 percent above the average pay for the region (according to the U.S. Bureau of Labor Statistics, average pay in the region is $50,880);
     
  • Retain 117 local jobs (408 total jobs will be created and retained);
     
  • Generate $28.9 million in new investments in the county.

“These are solid half-year results that demonstrate the health of the Saratoga County economy, and Capital Region economy,” said Dennis Brobston, president of SEDC, the county’s private-sector economic development organization. “Companies are growing. They’re confident in our business climate, and they’re ready to invest in the future.”

The companies working with SEDC through the first half of the year ranged from a mechanical contractor to logistics companies to an innovative agricultural supplier (see the full list of companies below).

“There are years when we might have one marquee project,” Brobston said. “Economic development isn’t always about that one dominant project, though. While it’s always great to attract big, visible players, our local economy wins when we have a range of investments and a range of new jobs across several industries. The companies that have worked with SEDC so far this year are one indication that our economy is diverse and strong.”

The 291 new jobs pledged through the first half of the year exceed the full-year totals from 2015, when SEDC-related projects pledged to create 212 jobs. Those jobs from 2015 carry an annual payroll of $15.7 million.

As SEDC looks to the second half of the year, the organization is in talks with nearly 50 companies interested in investing in Saratoga County.

Here’s a look at SEDC project totals through the second quarter ending June 30:

Project name: 14 Fairchild Square
Location: Clifton Park
Investment: $2.3 million
New jobs: 15
Jobs retained: NA
New payroll: $900,000

Project name:  J.W. Danforth
Location: Halfmoon
Investment: $3.6 million
New jobs: 147
Jobs retained: 73
New payroll: $11 million

Project name:  Core Tech Industrial Group
Location: Town of Ballston
Investment: $2.3 million
New jobs: 17
Jobs retained: 21
New payroll: $1.4 million

Project name:  AgroChem
Location: Saratoga Springs
Investment: $4.9 million
New jobs: 5
Jobs retained: 23
New payroll: $175,000

Project name:  Ace Hardware
Location: Wilton
Investment: $4.2 million
New jobs: NA
Jobs retained: NA
New payroll: NA

Project name:  Arnoff Global Logistics
Location: Malta
Investment: $11.6 million
New jobs: 107
Jobs retained: NA
New payroll: $5.2 million

Over the course of its 38-year history, SEDC has assisted with more than 200 successful business attraction, retention and expansion projects. Those 200-plus projects account for more than 17,500 new jobs, $34 million in annual tax revenue for Saratoga County and $13 billion in new investments.

SEDC is a private-sector, non-profit consulting firm with a central focus on business and a mission to create jobs, diversify the tax base and improve the quality of life for the residents of Saratoga County. Established in 1978, SEDC serves more than 350 private-sector investors and members.

News Archive