Eight things you need to know on topics related to Saratoga County's economy.

1. Last chance to register: Saratoga Hospitality and Tourism Index November 13th

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 will feature a presentation of data collected by the Saratoga Partnership team. Hear first-hand from a panel of 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. Special thanks to our  Presenting Sponsor   Adirondack Trust Company ,   Gold Sponsor BBL Inc ., and Bronze Sponsor Excelsior Springs Event Center CLICK HERE TO REGISTER.

2. Share your voice in the process of shaping a new trail in Saratoga County! SURVEY

Saratoga County has great recreational areas and conservation land to explore. Moreau Lake State Park, Lincoln State Forest, Daniels State Forest, and Spa State Park are outdoor recreation hubs, which increase mental and physical health, boost environmental awareness, and create community bonding. These four nature spaces are our community's backyard and we want to connect them with an extensive trail. Saratoga PLAN, the Open Space Institute, and Skidmore-Saratoga Consulting Partnership (SSCP) are working together to protect our natural resources and make this land more accessible to the community. Take this survey to help them create a new trail to hike, bike, ski, and more!

3. Capital Region Creates: 2019 Economic Development Progress Report

 The Capital Region Regional Economic Development Council has released its' 2019 Progress Report which includes an overview of workforce development initiatives, status updates on past Priority Projects, strategies & actions related to State priorities, and general economic indicators. Read more about the two Saratoga County 2019 Priority Projects; King Brothers Dairy yogurt manufacturing facility cold storage site and Saratoga Performing Arts Center's Roosevelt II rehabilitation project.

4. How much water can the Great Sacandaga Lake really hold?

Late last week, torrential rainfall produced record-setting flow on the Sacandaga River at Hope into the Great Sacandaga Lake, exceeding the river's flow at Hope during the 1913 event that caused catastrophic flooding in Albany and many other communities, ultimately prompting construction of the reservoir for flood protection. More than 100 years later, the reservoir was put to the test and performed as designed. Combined with operation of Indian Lake Reservoir, Great Sacandaga Lake provided 4.16 billion cubic feet of water storage on November 1, preventing the Hudson River from reaching major flood stage from Hadley to Fort Edward, and preventing serious flooding-related impacts in other downstream communities. The one-day storage total of approximately 31.1 billion gallons was equal to approximately 20% of the average runoff experienced during an entire spring, and effectively reduced the daily average Hudson River flow by approximately 46,100 cubic feet per second (cfs), preventing major damage in Hudson River communities. For instance, the Regulating District's operation of the Great Sacandaga Lake & Indian Lake resulted in the Hudson River remaining below major flood stage at Fort Edward, and below moderate flood stage above the Troy dam at Troy, Cohoes & Waterford.  Read more about the Hudson River-Black River Regulating District here .

5. How Closing the Digital Literacy Gap Helps Workers — and Employers

For four years in a row, one   survey  has found that “big data and analytics are top of the skills shortage critical list.” But amid the focus on high-level data skills, there’s another gap in workforce preparation:   Brookings reports by the time they enter the workforce, students haven’t had enough exposure even to simpler data tools such as spreadsheets and enterprise management platforms. It’s time to “ expand digital literacy across the board, ” CityLab declares. Read how closing the digital skills gap in many companies could bring new opportunities and rewards.

6. A Brief Overview of What’s Fueling the Autonomous Last-Mile

As the rise of e-commerce continues, companies around the globe have become increasingly sensitive to evolving consumer preferences. In a world where instant gratification has come to represent a generation, autonomous technologies are set to make a significant impact. When it comes to consumer shipping, McKinsey  reports  that 25 percent of all consumers would pay a premium for same-day or instant delivery made possible by autonomous tech. However, this figure is likely to grow, given that 30 percent of younger consumers are willing to pay more for the same shipping options. As industry-use cases continue to expand, many have come to define the ecosystem as the autonomous “last-mile.” But what exactly does this mean ?

7. In Its First Print Catalogue, Amazon Bets on the Classics

Amazon.com is gambling on glossiness and nostalgia to draw in shoppers with its first toy catalogue, in yet another bricks-and-mortar strategy to snag its share of the holiday toy sales. The company released its  “Holiday of Play”  catalogue Wednesday. It features 70 pages of delighted, cozily clad kids surrounded by toys, and will soon be mailed to millions of customers this month. It showcases the breadth of holiday toy inventory, including classics such as action figures, board games and Barbies, as well as high-end items such as Bose audio gear and PlayStations. When former industry powerhouse Toys R Us shuttered its last stores earlier this year, it began a scramble among giants such as Walmart, Target and Kohl’s, along with online powerhouses such as Amazon, as all clamored for a piece of the nation’s $3.3 billion toy market. The catalogue is one weapon in Amazon’s holiday arsenal, along with its free shipping for all customers during the holidays with no minimum purchase required. The lack of explicit prices in the catalogue is intentional, leaving Amazon open to shifting its pricing to stay competitive as the season heats up, said Linda Bolton Weiser, an analyst with D.A. Davidson. Read how other retailers are vying to compete in the toy market.

8. Automation, Work and Skills: what do we know?

 Concerns about the impact of technological change on jobs, wages, and the economic security of workers are not new. Most major technological advances cause social disruptions that can often be painful for impacted workers and communities. While the long arc of history has shown that, by and large, past technological change has us wealthier and more productive, it is important to consider both the needs of people potentially harmed in the interim and potential policy choices that can mitigate the harm. What do we really know about how technology will impact employment? Which workers will be impacted most, both in terms of class and gender? What role can retraining play? These questions are addressed in a new series of three academic papers on automation published by the  Future of the Middle Class Initiative (FMCi)  from the Brookings Institution.

EVENTS

11.13.19 - SARATOGA COUNTY HOSPITALITY + TOURISM ECONOMIC INDEX - click here to register

11.20.19 - SEDC HOLIDAY THANKSGIVING CELEBRATION - click here to register

11.21.19 - SOCIAL MEDIA SERIES featuring Death Wish Coffee - click here to register