Community Bank System elects Skerritt as new independent director

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

DeWITT— Community Bank System, Inc. (NYSE: CBU) recently announced the election of Susan E. Skerritt to its board of directors as a new independent director. Skerritt’s election expands the DeWitt–based banking company’s board to 13 directors, 12 of whom are independent. She was also appointed to the board of directors of Community Bank, N.A., the […]

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Oneida County hotels see more than half of rooms filled in October

Regional News, Sports, Entertainment & Tourism, Subscriber Only

UTICA, N.Y. — Oneida County hotels posted an occupancy rate (rooms sold as a percentage of rooms available) of 51.8 percent in October, down 21.5 percent from a year ago, according to STR, a Tennessee–based hotel market data and analytics company. Though business was hindered by the ongoing COVID-19 pandemic, it was the smallest year-over-year

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

New York egg production rises more than 6 percent in October

Subscriber Only

New York farms produced 151.3 million eggs in October, up 6.2 percent from 142.5 million eggs in the year-ago period, the USDA’s National Agricultural Statistics Service (NASS) recently reported. The number of layers in the Empire State averaged 5.79 million in October, up 3.3 percent from nearly 5.61 million layers a year prior. October egg

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

The Bluetooth stethoscope connection

Health Care, Subscriber Only

ROME, N.Y. — The Cardiovascular Institute at Rome Memorial Hospital (RMH) is using “Bluetooth stethoscope” technology, which allows doctors to hear and see a patient’s heartbeat “without physically being there.” Rome Memorial Hospital (RMH) and St. Joseph’s Health say they’re deploying the technology and working together to “offer patients in rural areas access to cardiac

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Jefferson County hotels see fewer than half of rooms occupied in October

Regional News, Sports, Entertainment & Tourism, Subscriber Only

WATERTOWN — Just under one out of two Jefferson County hotel rooms, on average, were occupied in October amid the ongoing coronavirus pandemic, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county came in at 45.8 percent in October, down 16.1 percent from October 2019,

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Shineman Foundation issues final grant awards of 2020

Subscriber Only

A revitalization grant was also provided to the town of Constantia’s public park, David C. Webb Memorial Park at Taft Bay, to pay for the construction of a large, previously donated municipal-quality playground system in the spring. The Shineman Foundation made a commitment of $60,000 to Victory Transformation to pay for renovations of its new

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

The Shineman Foundation made a commitment of $60,000 to Victory Transformation to pay for renovations of its new home at the former Vale Haven, at 24 E. Oneida St. in Oswego. Another grant of $56,668 was made to Grace and Glory Ministries for the expansion of its Foundations EDU program, which provides a structured environment for kids ages 5-13 during hybrid-remote learning days or after school, Monday-Friday from 9 a.m. to 5 p.m.

Three education/arts and culture grants were awarded by the Shineman Foundation to organizations expanding their outreach with and into Oswego County schools: The REV Theatre Company (formerly Merry-Go-Round Playhouse) for its virtual touring “Sequential Dramatics Program;” the Museum of Science and Technology’s “Oswego County on the Go” science program, which will bring a virtual or in-person 45-minute classroom-based science demonstration to all 78 sixth-grade classes in 16 school buildings in Oswego County; and Symphoria for several virtual Christmas concerts in the county during December.

The Shineman Foundation awarded two capacity-building grants in this round. CNY Community Arts Center in Fulton received funds to purchase a movie-projection system and Clear Path for Veterans was awarded funding for its Oswego Peer Expansion project.

Several health and human-services grants were awarded by the Shineman Foundation: David’s Refuge for provision of respite/caregiver support to Oswego County parents and guardians of children with special needs; Fulton’s Blessings in a Backpack for its weekend backpack program for 250 K-6th grade children in the Fulton City School District; and Oswego County Children’s Fund for its 2020 Christmas Fund.

Two awarded grants were specifically addressing COVID-19 problems. The regional CNY Arts Inc. organization received a grant to provide funding to arts and culture organizations across the county that have experienced a huge decline in revenues due to the virus. The American Red Cross received a grant to assist it with providing COVID-19 antibody testing on blood taken during blood drives in Oswego County.

AAA offering services remotely in Ithaca after closure of local office

Regional News, Subscriber Only

ITHACA — AAA Western and Central New York says it is offering services in the Ithaca area remotely following the Nov. 30 closure of the Ithaca Travel & Insurance Center at 722 South Meadow St. The closure didn’t affect the two employees has AAA has in Ithaca, including one who focuses on travel and one

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Oneida Nation begins effort to fill more than 250 hospitality positions

Sports, Entertainment & Tourism, Subscriber Only

VERONA, N.Y. — The Oneida Indian Nation is extending — and candidates are accepting — offers for hospitality positions at its properties. That’s according to Joel Barkin, VP of communications, who tells CNYBJ in an email that as of Dec. 1, the organization had set up more than 400 interviews and members of the Oneida

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

VERONA, N.Y. — The Oneida Indian Nation is extending — and candidates are accepting — offers for hospitality positions at its properties.

That’s according to Joel Barkin, VP of communications, who tells CNYBJ in an email that as of Dec. 1, the organization had set up more than 400 interviews and members of the Oneida Nation’s human-resources team had traveled to Florida to conduct in-person interviews.

The Oneida Indian Nation and Oneida County on Nov. 18 announced the launch of a new recruitment campaign to fill more than 250 hospitality positions within the Oneida Indian Nation’s properties.

The “New Year, New Career” campaign was created to complement the Nation’s ongoing hiring efforts in the upstate region. The Oneida Nation is funding the entire campaign, per its news release.

The campaign is designed to target residents living in areas like Orlando, Florida, where the ongoing pandemic has resulted in “significant layoffs” for tens of thousands in the hospitality industry at resort attractions like Disney World, the Oneida Nation said.

The open positions at Oneida Nation Enterprises include full-time jobs, which are a combination of salaried and hourly positions. They include culinary, bartenders, restaurant and cocktail servers, hotel staff, housekeeping, and gaming positions.

Oneida Nation Enterprises says it is recruiting additional employees to support the organization’s recovery and growth in the year ahead. The “New Year, New Career” offers “generous” compensation and benefits, relocation assistance, as well as opportunities for training.

“Our new recruitment campaign spotlights our entire region and the opportunities for a fulfilling career and quality of life in a beautiful four-season destination,” Ray Halbritter, Oneida Indian Nation representative and Oneida Nation Enterprises CEO, contended. “This campaign is an investment in our future and will ensure that as we return to normalcy, we will maintain the standards that have made us New York’s top destination resort.”

Oneida County, through its department of workforce development, will work with the Oneida Nation to assist locally based job candidates — and those looking to relocate to Oneida County — find the resources necessary to become employed. Those resources could include offering daycare and local employment opportunities for accompanying family members.

“Time and again, the Oneida Indian Nation reaffirms its unwavering commitment to make our region among the most elite destinations in the country, and this investment to get many of our residents back to work, and also attract new people to our county is just the latest example,” said Oneida County Executive Anthony Picente, Jr. “These are tremendous career opportunities for both people living in Central New York as well as those considering relocating to our region.”

The campaign’s website is: https://www.onenterprises.com/careers

Israeli firm wins $1M grand prize in Grow-NY competition

Small Business, Subscriber Only, Technology

Ithaca company collects $250,000 Soos Technology, an animal-science company from Kidron, Israel, won the $1 million grand prize in this year’s Grow-NY food and agriculture business competition. Halomine of Ithaca

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Ithaca company collects $250,000

Soos Technology, an animal-science company from Kidron, Israel, won the $1 million grand prize in this year’s Grow-NY food and agriculture business competition.

Halomine of Ithaca — a firm that has developed anti-microbial products to ensure the safety of the food supply — took home $250,000.

Empire State Development and Cornell University announced the winners on Nov. 23.

“With our Grow-NY prize money, we plan to create over 20 high-paying research and engineering jobs in the next two years, by building the NY Poultry Research Hub, which will connect academic research with poultry startups and corporates, to commercialize validated research. We are thrilled to put down roots in the Grow-NY region,” Yael Alter, CEO of Soos Technology, said in a news release.

Soos Technology says it has developed artificial intelligence (AI)-driven software that controls customized incubation cells that affect the sex-development process in chicken embryos, resulting in more functional female chickens that lay eggs. The patented technology mitigates the controversial practice of male-chick culling by transforming male chickens into egg-laying females using high-tech soundwaves and vibration — a noninvasive and nonchemical solution.

Halomine is part of the on-campus technology incubator Praxis Center for Venture Development and is developing antimicrobial solutions — licensed through Cornell’s Center for Technology Licensing — to ensure food safety, according to a release on the Cornell University website.

Halomine has also partnered with the McGovern Center for Venture Development in the Life Sciences to conduct biological research and testing against coronaviruses.

The startup is led by CEO Ted Eveleth and chief technology officer, Mingyu Qiao, who is also a post-doctoral researcher.

In addition to Soos Technology, SoFresh of Pleasant Prairie, Wisconsin and Zetifi of New South Wales, Australia were $500,000 winners. Besides Halomine, Leep Foods of Rochester; Candidus of Hull, Georgia; and PureSpace of Busan, South Korea each won $250,000 in prize money.

About Grow-NY

The competition focuses on strengthening the food and agriculture innovation cluster within the Central New York, Finger Lakes, and Southern Tier regions of New York state. The contest attracted more than 260 applicants worldwide this year and the top 20 finalists competed in a virtual-pitch event.

Funding for the Grow-NY competition is provided through Gov. Andrew Cuomo’s Upstate Revitalization Initiative. Administered by Cornell University, the contest requires that winners commit to operating in the Central New York, Finger Lakes, or Southern Tier region for at least one year.

Grow-NY was held remotely Nov. 17 and 18, with more than 1,500 people registered to attend. Competition finalists were able to share their business plans and answer questions from a panel of judges in front of an online audience; each had 10 minutes to share their pitch and then 10 minutes for questions.

Competition process

Grow-NY organizers say 264 companies applied to the competition this year, including startups from 27 countries.

In the U.S., 25 states were represented. Organizers say 29 percent of applicants included a female founder and 32 percent included a founder from an underrepresented minority group.

In early September, the applicants were narrowed down and the top 20 startups were chosen to proceed to the pitch competition. Each finalist had mentorship from a hand-selected regional business advisor leading up to the pitch.

OPINION: IRS Issues Guidance Denying Tax Deductions for PPP Loans

Opinion, Subscriber Only

OPINION The IRS has released guidance on the deductibility of payments for otherwise-deductible expenses using funds from the Paycheck Protection Program (PPP). The guidance, although not unexpected, is not taxpayer friendly. Revenue Ruling 2020-27 describes two situations. In situation 1, the taxpayer incurred eligible expenses for which a PPP loan was obtained. In November, the

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

OPINION

The IRS has released guidance on the deductibility of payments for otherwise-deductible expenses using funds from the Paycheck Protection Program (PPP). The guidance, although not unexpected, is not taxpayer friendly.

Revenue Ruling 2020-27 describes two situations. In situation 1, the taxpayer incurred eligible expenses for which a PPP loan was obtained. In November, the taxpayer applied for loan forgiveness under Section 1106 of the CARES Act. In situation 2, the taxpayer paid the same types of eligible expenses as those paid in situation 1. However, in situation 2, the taxpayer did not apply for forgiveness of the PPP loan before the end of 2020. Also, in situation 2 the taxpayer intends to apply for forgiveness in 2021.

In both cases, the IRS held that the taxpayer could not deduct otherwise-deductible expenses that were paid for using the proceeds from the forgiven or to-be-forgiven loan. This ruling is consistent with a prior notice released by the IRS, Notice 2020-32, which clarified that no deduction is allowed for an eligible expense that is otherwise deductible if the payment of the eligible expense results in forgiveness of a PPP loan. These rulings are consistent with longstanding IRS guidance, which generally provides that no deduction is allowed where tax-exempt income is used to pay the expense which would otherwise result in the deduction.

Revenue Procedure 2020-51, issued in tandem with Rev. Rul. 2020-27, provides a safe harbor allowing a taxpayer to claim deductions in the taxable year beginning or ending in 2020 for eligible expenses if in connection with the expenses paid in the tax year, the taxpayer receives a loan guaranteed under the PPP program, which at the end of the taxpayer’s 2020 taxable year, the taxpayer expects to be forgiven (and thus takes no deduction). Or a taxpayer can claim deductions in a subsequent year if the taxpayer’s request for forgiveness for the PPP loan is denied or the taxpayer decides not to request forgiveness of the PPP loan. The procedure permits the taxpayer to either take a deduction in 2020, the year the expense was incurred, or in the year the debt forgiveness was denied or abandoned. In order to take advantage of this safe harbor, taxpayers must file a statement with their return on which they’re deducting the previously non-deducted expenses. The Revenue Ruling outlines the information required to be included in such statement.

Raymond P. Reichert is a member (partner) in the Buffalo office of Syracuse–based Bond, Schoeneck & King PLLC. He has devoted his career to the practice of tax law, with a particular focus on partnerships, mergers and acquisitions, economic development, and affordable housing. Reichert primarily works with businesses and not-for-profit entities. Contact him at rreichert@bsk.com. This article was first published on the law firm’s website.

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Get our email updates

What's New

Upcoming Events

Project Homecoming Job & Career Fair 2025

Annual Nonprofit Conference 2026

2026 CenterState CEO Economic Forecast Breakfast

CNYBJ Job Board

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get our email updates