Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
ConMed to pay quarterly dividend of 20 cents a share on July 6
UTICA — ConMed Corp. (NYSE: CNMD), a Utica–based surgical-device maker, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share. The dividend is payable on July 6 to all shareholders of record as of June 15. ConMed provides surgical devices and equipment for minimally invasive procedures. The […]
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
UTICA — ConMed Corp. (NYSE: CNMD), a Utica–based surgical-device maker, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share.
The dividend is payable on July 6 to all shareholders of record as of June 15.
ConMed provides surgical devices and equipment for minimally invasive procedures. The firm’s products are used by surgeons and physicians in specialties that include orthopedics, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.
ConMed reported adjusted net income of more than $15 million, or 51 cents per share, in the first quarter, down from adjusted net income of more than $16 million, or 57 cents, in the same period in 2019. The company said it incurred costs in both 2019 and 2020 related to its 2019 acquisition of Buffalo Filter, LLC.
Chemung Financial to pay quarterly dividend of 26 cents on July 1
ELMIRA — Chemung Financial Corp. (NASDAQ: CHMG) recently announced that its board of directors has approved a quarterly cash dividend of 26 cents a share. The dividend is payable on July 1 to common stock shareholders of record as of the close of business on June 17. At the banking company’s current stock price, the
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
ELMIRA — Chemung Financial Corp. (NASDAQ: CHMG) recently announced that its board of directors has approved a quarterly cash dividend of 26 cents a share.
The dividend is payable on July 1 to common stock shareholders of record as of the close of business on June 17.
At the banking company’s current stock price, the dividend yields about 3.95 percent annually.
Elmira–based Chemung Financial is a $1.8 billion financial services holding company that operates 32 branches through its main subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers.
Established in 1833, Chemung Canal Trust says it is the oldest locally owned and managed community bank in New York state. Chemung Financial is also the parent of CFS Group, Inc., a financial-services subsidiary offering mutual funds, annuities, brokerage services, tax-preparation services and insurance, as well as Chemung Risk Management, Inc., an insurance company based in Nevada.
Madison County seeks developers for state canals initiative project in Canastota
CANASTOTA — Interested developers have until July 21 to respond to Madison County’s request for qualifications (RFQ) on a project to turn 160 Center St. in Canastota into a “canalside pocket neighborhood.” The project is part of the state’s Reimagine the Canals initiative. The county released a request for qualifications (RFQ) in partnership with the
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
CANASTOTA — Interested developers have until July 21 to respond to Madison County’s request for qualifications (RFQ) on a project to turn 160 Center St. in Canastota into a “canalside pocket neighborhood.”
The project is part of the state’s Reimagine the Canals initiative.
The county released a request for qualifications (RFQ) in partnership with the New York State Canal Corporation and the New York Power Authority, per a May 26 news release.
Respondents to the RFQ should demonstrate their experience and capacity to construct and complete the project.
The project seeks to “showcase” canalside living and be a pilot project for the New York State Canal system, Madison County said.
The developer selected will partner with Madison County on this project. It’s part of Reimagine the Canals, an Erie Canal bicentennial initiative and reinvestment campaign.
Madison County was the winner of the state’s Reimagine the Canals competition, securing $1.5 million to directly support the development of this canalside pocket neighborhood.
Madison County currently owns the site that is the location for the canalside pocket neighborhood project.
“It is a 2.5-acre site with 250 feet of Erie Canal frontage and is in walking distance of Canastota’s downtown,” Jamie Kowalczk, assistant director of the Madison County Planning Department, said. “By linking new desirable housing choices to the Erie Canal’s one-of-a-kind trail and waterway system, we are hoping to retain and attract residents to our community’s downtown.”
The preferred redevelopment of the site will include a mix of housing, creative layout and site design, and reactivation of the canal waterfront.
“The vision for the project is to leverage the … brand and amenities of the Erie Canal and combine it with quality design to create a unique canalside living experience,” said Kowalczk “And now we are looking forward to bringing in a partner developer to build the project.”
To view bid details, visit: https://www.madisoncounty.ny.gov/bids.aspx
For more information on the project visit www.CanalsideCanastota.com, Madison County said.
Oneida County announces additional possible public exposure to virus at area stores
UTICA, N.Y. — Oneida County officials on Tuesday reported recent, possible public exposure to the coronavirus at area retailers including Rite Aid in New Hartford
WellNow’s CNY clinics conduct over 4,400 COVID-19 & antibody tests in first 2 weeks
WellNow Urgent Care has now been offering for more than two weeks, two types of COVID-19 testing at its Central New York clinics. The first type is a molecular polymerase chain reaction (PCR) or nasal swab test, which is used to diagnose current COVID-19 infections. The second test is a blood antibody serology test that
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
WellNow Urgent Care has now been offering for more than two weeks, two types of COVID-19 testing at its Central New York clinics.
The first type is a molecular polymerase chain reaction (PCR) or nasal swab test, which is used to diagnose current COVID-19 infections. The second test is a blood antibody serology test that is used to detect recent or past exposure to the coronavirus.
WellNow provided CNYBJ testing data for the two-week period from May 6 through May 19. The offices involved performed a total of 3,790 antibody tests and a total of 640 molecular tests. The average antibody tests per day for Central New York clinics was 271 in the period, and the average number of molecular tests per day at those same clinics was 46, according to the WellNow data.
“Bringing both types of COVID-19 testing to our communities in Central New York is a top priority right now,” Dr. John Radford, president of WellNow Urgent Care, said in a statement, when WellNow launched the testing. “As New York [starts reopening], providing all our communities with answers to their COVID-19 questions is as much our responsibility as is making sure all our centers remain a safe and welcoming place for all urgent care needs.”
Testing is available at WellNow’s Central New York offices that include Auburn, Cicero, Clay, DeWitt, Fairmount, Fayetteville, Liverpool, Oneida, Oswego, and Rome. The tests are available seven days a week with no appointments needed.
About the tests
The molecular (PCR) test, like a flu test, requires a nasopharyngeal swab to determine if a patient has COVID-19. Antibody testing uses a blood sample to determine the presence of antibodies in response to a recent or past COVID-19 infection. Additionally, antibody testing can suggest if an individual may have some protection from the virus and help identify potential plasma donors.
All patients are screened in their car, provided a mask, and brought directly to a private patient room for further evaluation and testing. Both tests are “highly accurate,” and the two accepted forms of COVID-19 screening used by health providers, and validated by the U.S. Food and Drug Administration, WellNow says.
Labs are overnighted, with results returned three to five days later through an online portal located at www.mybostonheart.com.
Besides the testing, WellNow locations continue to provide treatment for non-life-threatening injuries and illnesses, such as sprains, strains, colds and the flu, while also providing on-site X-rays, lab testing, and physicals. Patients are treated on a walk-in basis.
New York state home sales tumble 29 percent in April
CNY & national sales also fall sharply due to COVID-19 The COVID-19 pandemic took a big bite out of April homes sales across the state, locally, and nationally. New York realtors sold 6,626 previously-owned homes in April, down 29.3 percent from 9,374 homes sold in April 2019. New listings and pending sales fell even
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
CNY & national sales also fall sharply due to COVID-19
The COVID-19 pandemic took a big bite out of April homes sales across the state, locally, and nationally.
New York realtors sold 6,626 previously-owned homes in April, down 29.3 percent from 9,374 homes sold in April 2019. New listings and pending sales fell even more sharply. That’s according to the New York State Association of Realtors (NYSAR) April housing-market report issued May 21.
“As expected, the COVID-19 pandemic decimated the New York State housing market in April as new listings and pending sales both fell over 65 percent,” the association said in the housing report.
In comparison, existing-home sales nationally dropped about 17 percent in April compared to a year prior, “continuing what is now a two-month skid in sales brought on by the coronavirus pandemic,” according to the National Association of Realtors (NAR). Existing-home sales in April totaled 4.33 million, down from 5.23 million in April 2019, NAR said.
New York state sales data
The April 2020 statewide median sales price in New York was $262,000, down nearly 3 percent from the year-ago median of $269,000, according to the NYSAR data.
With guidance in place not allowing for in-person home showings across New York state, new listings fell more than 68 percent in April to 6,507 from 20,600 in the year-ago month.
Pending sales totaled 4,287 in April, off nearly 67 percent from 12,825 pending sales in the same month in 2019.
The months’ supply of homes for sale at the end of April stood at 5.2 months, down more than 10 percent from 5.8 months at the end of April 2019.
A 6-month to 6.5-month supply is considered to be a balanced market, NYSAR says.
The inventory of homes for sale totaled 53,041 in April, down more than 17 percent from 64,357 a year prior.
Central New York data
Realtors in Onondaga County sold 301 previously owned homes in April, down 9 percent compared to the 331 sold in the same month in 2019. The median sales price rose 7 percent to nearly $159,000 from more than $148,000 a year ago, according to the NYSAR report.
NYSAR also reports that realtors sold 91 homes in Oneida County in April, down nearly 22 percent from the 116 homes sold in April 2019. The median sales price increased 12.5 percent to $135,000 from $120,000 a year ago.
Realtors in Broome County sold 106 existing homes in April, down nearly 9 percent from 116 a year prior, according to the NYSAR report. The median sales price dipped nearly 2 percent to more than $113,000 from $115,000 a year before.
In Jefferson County, realtors closed on 71 homes in April, down more than 15 percent from 84 a year ago, and the median sales price of $141,000 was down nearly 4 percent from $146,500 a year ago, according to the NYSAR data.
All home-sales data is compiled from multiple-listing services in New York state and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.
Area private colleges prep for students’ return to campus this fall
Syracuse University is targeting late August, while Ithaca College plans to begin in early October as both schools work toward the restart of on-campus student instruction this fall. Le Moyne College officials “intend” to welcome a new class to campus, along with returning students, for residential in-class instruction this fall. But the college acknowledges “that
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Syracuse University is targeting late August, while Ithaca College plans to begin in early October as both schools work toward the restart of on-campus student instruction this fall.
Le Moyne College officials “intend” to welcome a new class to campus, along with returning students, for residential in-class instruction this fall. But the college acknowledges “that social-distancing protocols and possible developments in the region’s public-health condition will require us to teach and learn in new and flexible ways,” per an email message sent to the Le Moyne community.
For this reason, as the school plans to resume in-class instruction, Le Moyne will also prepare for a “successful transition to remote education should that become necessary,” the message read.
Any reopening presumes approval of the school’s plans by the offices of Onondaga County Executive Ryan McMahon and New York Gov. Andrew Cuomo.
Syracuse plans
Syracuse University on May 20 announced that on-campus instruction for its fall semester will begin Aug. 24.
The university is also planning to follow an “accelerated” academic calendar for the semester that would wrap up on-campus classes before the Thanksgiving break.
Syracuse notes its plan is “subject to continuing and further guidance from New York State and public health officials,” per a letter to the university community posted on its news website.
The school contends the accelerated schedule allows it to provide in-person instruction “in a way that safeguards the health and safety of all members of our campus and the Central New York community.”
Syracuse fall-semester schedule
On-campus instruction is slated to begin Aug. 24, and students living in on-campus housing will receive notification of their move-in date. Classes will conclude Nov. 24 and the semester will finish the following day when students leave campus for Thanksgiving break. Students won’t return to campus after their Thanksgiving break, but the academic activity will continue.
Between Nov. 30 and Dec. 9, review sessions, reading days, and final exams will be administered virtually, Syracuse University said.
In order to fulfill academic requirements and comply with public-health guidance, the schedule will “likely necessitate” some additional Friday classes and some weekend classes, Syracuse said.
The school will also be asking faculty to revise teaching plans accordingly, and to be prepared to transition to online teaching “for anyone whose learning might be disrupted.” Syracuse also plans to offer most of its in-person classes “simultaneously in an online format to accommodate the individual health circumstances of our students and faculty.”
The schedule “reduces the risks and exposures” associated with travel to and from campus, and it prepares the university for the possibility of a second wave of COVID-19 cases, Syracuse said.
Ithaca College plans
Ithaca College on May 18 said it’s making plans to open for on-campus instruction for students on Oct. 5.
In response to the coronavirus pandemic, Ithaca College had moved spring-semester classes for the last academic year to remote instruction on March 23. Classes for the new 2020¬21 academic year would normally begin on Aug. 24. The college’s leader says the extra time will allow students, faculty, and staff to fully prepare for a return to in-person instruction and campus life.
“By putting a stake in the ground for an October 5 start, we are giving our returning and new students the space they need to get ready for the upcoming year,” Ithaca College President Shirley Collado said. “This carefully thought-out timeframe provides our faculty with the opportunity to fully prepare to deliver the strongest educational experience, and for our staff to fully map out their work and put solid, responsive plans in place around our emergency health and safety management.”
Collado acknowledged that making and announcing this decision now “may run counter to current conventional higher education wisdom, but that it is in alignment with the ongoing, methodical, and data-driven deliberative process” the college has undertaken throughout this public-health crisis. The college president also noted that she and the college’s senior-leadership team have “listened to and collaborated” with a variety of stakeholders and leaders, “on campus and off.”
“To provide a solid blueprint for our campus community in moving forward to embrace the 2020-21 academic year, we’ve created the college-wide Return to Campus Task Force, which has begun to work on a detailed plan for what our upcoming academic year specifically looks like and to think carefully through contingencies as this pandemic crisis continues to evolve,” said Collado.
Le Moyne social-distancing campus changes
Le Moyne is also planning for changes within its operations to “maintain the health and safety” of the college and regional communities.
They include reducing the density of people on campus, which will involve changing service and office hours and requiring a “substantial proportion” of administrative employees to work remotely.
The changes will also include practicing social distancing and other behaviors, which will include reducing space occupancy.
In addition, Le Moyne will work to minimize in-person events to those approved as “mission-critical,” eliminating and restricting travel to reduce risk of virus spread, and eliminating and restricting group activities, clubs, and meetings, per the email.
Broome County hotels had just one-fourth of their rooms occupied in April, report says
BINGHAMTON — Hotels in Broome County saw a sharp drop in guests in April amid the coronavirus crisis, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county plunged 56.2 percent to 25.7 percent in April, according to STR, a Tennessee–based hotel market data and
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
BINGHAMTON — Hotels in Broome County saw a sharp drop in guests in April amid the coronavirus crisis, according to a new report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county plunged 56.2 percent to 25.7 percent in April, according to STR, a Tennessee–based hotel market data and analytics company. April’s fall was worse than the 39 percent decline in occupancy in March to 34.2 percent, likely because the early part of March wasn’t as affected by the COVID-19 crisis.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, nosedived 68 percent to $16.81. That was worse than the nearly 47 percent fall in RevPar in March to $26.04.
Average daily rate (or ADR), which represents the average rental rate for a sold room, fell 27 percent to $65.48 in April. That came after an almost 13 percent dip in ADR in March to $76.22.
Syracuse-ESF team places in top 4 of DOE Solar Decathlon Design Challenge
SYRACUSE — A team of students from Syracuse University and the SUNY College of Environmental Science and Forestry (SUNY-ESF) earned an honorable mention in the U.S. Department of Energy’s (DOE) Solar Decathlon Design Challenge. It’s a collegiate competition that has student teams designing and building “highly efficient and innovative” structures powered by renewable energy. A
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
SYRACUSE — A team of students from Syracuse University and the SUNY College of Environmental Science and Forestry (SUNY-ESF) earned an honorable mention in the U.S. Department of Energy’s (DOE) Solar Decathlon Design Challenge.
It’s a collegiate competition that has student teams designing and building “highly efficient and innovative” structures powered by renewable energy.
A total of 45 finalist teams from 31 colleges and universities competed virtually between April 17 and 19 because of the COVID-19 pandemic. Students submitted their projects and presentations online while a jury of industry leaders conducted question-and-answer sessions through virtual conferencing, Syracuse University said in a May 18 news release.
The combined Syracuse/ESF Syracuse Energy Efficient Design (SEED) team was selected as one of the top four out of 18 teams in the mixed-use, multifamily division and awarded an honorable mention for its project, Our Home at Smokey Hollow.
Project details
For this year’s project, the two-school team of 20 undergraduates and graduate students partnered with Christopher Community, Inc. to create a mixed-use, assisted-living facility for young adults with mild to severe autism.
Christopher Community Inc. is a Syracuse–based nonprofit organization that specializes in developing and operating affordable housing for low- and moderate-income individuals and families.
Located in Baldwinsville, the 11-unit structure was designed to provide all associated care and therapy services under the same roof. It includes living space for permanent support staff and is complaint with the Americans with Disabilities Act of 1990 (ADA), Syracuse said.
Estimated to cost $6.2 million, the parents of prospective residents will privately finance the project through a combination of internal support, mortgages, housing grants, and donations from local businesses.
In order to meet deadlines, team members implemented an integrated-design approach by dividing into five sub-teams based on their studies and competition guidelines — architecture, energy, engineering, finance, and operations.
Students came from seven different majors, including architecture, construction management, environmental and mechanical engineering, and landscape architecture.
“The multi-disciplinary team enabled interaction among various disciplines and the knowledge gained from that is unparalleled,” said Vedyun Mishra, architectural team lead who is set to graduate in 2021.
With a large team size, the sub-team leads also decided it was important to have “consistent input and guidance” from knowledgeable faculty, so they enlisted the help of advisors. Nina Sharifi and Daekwon Park, assistant professors in the School of Architecture, and Paul Crovella, sustainable construction management instructor at SUNY-ESF, mentored the team, Syracuse University said.
The team on May 3 presented its final report to the parents and the developer, Mishra said in an email message that Syracuse University forwarded to CNYBJ. The design and concepts will form the basis and framework for planning documents that Christopher Community Inc.’s design team will develop before construction begins in 2022.
Design process
From the start of the process, the effort to design Our Home at Smokey Hollow centered around the question, “How Can We Make A Home?” Syracuse University said. The team researched the design for its project by first exploring how to create a healthy living environment for young adults on the autism spectrum. They referenced various case studies pertaining to buildings designed for people on the spectrum, met with parents to talk about what they felt would help their children transition into a new living space, and spoke to future residents to gain insight into their lifestyles.
Although the autism spectrum is “broad,” the design team was able to reach some general conclusions towards designing a comfortable living environment fit to support the residents, and decided on six main design impacts — net-zero, health and well-being, biophilic design, durability, efficiency, and sensory safe — that met all the specific requirements of the client and the intended occupants.
The team made efforts throughout the design process to move away from typical care-facility aesthetics and construct a more “inviting” place to live. By incorporating durable materials, both inside and out, they were able to create spaces that were “functional and attractive.”
Through the use of clerestory windows and a Trombe wall, the design also ensured that there was ample diffused daylight and passive heat during the winters. The team also focused on minimizing sensory overload — a major consideration in addressing ASD — by reducing visual stresses, decreasing background noises, and maintaining predictability throughout the building. And to give the space a more homelike feel, the team added a few unique design elements including a sensory room, where residents can retreat and engage in different activities outside their daily routine, and a greenhouse, which will allow residents to engage in horticultural therapy all year long.
With more than 144,000 people with autism spectrum disorder in New York state, and only a handful of assisted living communities, the team’s project is a “model that can be replicated throughout the Northeast and benefit people far beyond Baldwinsville,” Syracuse said.
EPA awards Cortland $16 million loan for water and sewer projects
CORTLAND — The City of Cortland will use a $16 million federal loan for sewer rehabilitation and water-main replacement projects. The U.S. Environmental Protection Agency (EPA) on May 11 announced the Water Infrastructure Finance and Innovation Act (WIFIA) loan. This WIFIA loan will help Cortland “protect public health and the environment by helping provide safe
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
CORTLAND — The City of Cortland will use a $16 million federal loan for sewer rehabilitation and water-main replacement projects.
The U.S. Environmental Protection Agency (EPA) on May 11 announced the Water Infrastructure Finance and Innovation Act (WIFIA) loan.
This WIFIA loan will help Cortland “protect public health and the environment by helping provide safe drinking water and dependable wastewater services,” the EPA said.
This project will cost $38 million. EPA’s WIFIA loan will finance nearly half of that figure — up to $16 million. Additionally, a combination of loans and grants from the New York Clean Water State Revolving Fund, the New York Drinking Water State Revolving Fund, and other state funds will finance about $18 million, the EPA said.
The Federal Community Development Block Grant Program will fund $3.7 million, marking the first time that this U.S. Department of Housing and Urban Development funding program and WIFIA financing have been used together to support a project.
The WIFIA loan will save the City of Cortland an estimated $3.5 million compared to typical bond financing. Project construction and operation are expected to create 120 jobs, per the EPA.
“EPA is acting on its commitment to infrastructure investment by providing this important support to the City of Cortland. It will help the city finance critical sewer rehabilitation and water-main-replacement-related project costs,” Pete Lopez, administrator of the EPA’s Region 2, said in a release. “The City of Cortland serves as a key gateway in New York’s Southern Tier and this investment in water infrastructure will yield positive environmental results for years to come.”
About the project
The Clinton Avenue Gateway project will replace aged water mains, sanitary sewers, and storm drainage with a new water main, services, hydrants, and valves. The purpose of this project is to replace the existing infrastructure, which has exceeded its useful life. The existing water mains and sewer systems have been in place for over 100 years and are at risk of failure due to age and use. The project will provide proper water and sewer main separation, reduce treatment costs for water and wastewater, and improve public health and environmental protections, per the EPA.
“We thank the EPA for extending the WIFIA program to a city our size,” Cortland Mayor Brian Tobin said. “EPA’s participation opened a door for the City of Cortland to reconstruct its infrastructure, revitalize its commercial base and improved the quality of services rendered to our residents that the City would not be able to do on its own.”
About WIFIA
Established by the Water Infrastructure Finance and Innovation Act of 2014, the WIFIA program is a federal loan and guarantee program administered by EPA.
WIFIA’s seeks to accelerate investment in the nation’s water infrastructure by providing long-term and low-cost supplemental credit assistance for regionally and nationally significant projects.
The EPA says its WIFIA program plays an “important part” in President Trump’s infrastructure plan, which calls for expanding project eligibility. The WIFIA program has an “active pipeline” of pending applications for projects that will result in billions of dollars in water infrastructure investment and thousands of jobs.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.