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Oneida County hotel occupancy rate increases nearly 8 percent in January
UTICA — Hotels in Oneida County saw a big rise in guests in January, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 7.6 percent to 41.7 percent in January, according to STR, a Tennessee–based hotel market data and analytics company. Revenue per […]
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UTICA — Hotels in Oneida County saw a big rise in guests in January, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county rose 7.6 percent to 41.7 percent in January, according to STR, a Tennessee–based hotel market data and analytics company.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, vaulted 8.9 percent higher to $42.50 in this year’s first month, compared to January 2019.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 1.2 percent to $101.88 this January.
TangoSquared to move local office to Syracuse Building
SYRACUSE — TangoSquared, LLC a veteran-owned design and development agency headquartered in Syracuse, will soon relocate its office from Axa Tower 2 to the Syracuse Building at 224 Harrison St. The company’s lease for its new 1,400-square-foot space will begin April 1. Matt Funiciello of JF Real Estate represented the Syracuse Building owners in the
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SYRACUSE — TangoSquared, LLC a veteran-owned design and development agency headquartered in Syracuse, will soon relocate its office from Axa Tower 2 to the Syracuse Building at 224 Harrison St.
The company’s lease for its new 1,400-square-foot space will begin April 1. Matt Funiciello of JF Real Estate represented the Syracuse Building owners in the new lease with TangoSquared, according to a JF news release.
TangoSquared, founded in 2006, offers services including UX design and implementation, application architecture and development, as well as branding and marketing communications.
Thomas Theriault is CEO of TangoSquared. He co-founded the business with Mark Dingman, the firm’s chief creative officer.
New York State Fair lowers admission price as it expands
GEDDES — New York State Fair organizers announced they are lowering the cost of admission tickets to $5 at the gate and $3 when purchased online this year as the State Fair expands to 18 days from 13. The new reduced price represents the lowest price since 1990 and a “significant drop” from the pricing
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GEDDES — New York State Fair organizers announced they are lowering the cost of admission tickets to $5 at the gate and $3 when purchased online this year as the State Fair expands to 18 days from 13.
The new reduced price represents the lowest price since 1990 and a “significant drop” from the pricing of $6 before the Fair and $10 during the run of the Fair that has been in place since 2005, organizers say.
The State Fair will maintain its free and low-cost admission days for certain groups, and the Fair will continue admitting children age 12 and under free of charge.
“Admission prices at major fairs across the country continue to rise, which strains the ability of many families on ever-tighter budgets to enjoy a day together. We believe all New Yorkers should be able to come to their state’s fair to enjoy the many free and low-cost activities we provide while spending the money they do have to make the most of their day,” Troy Waffner, State Fair director, said in a statement.
Attendance at the New York State Fair has grown more than 46 percent in four years, the New York State Department of Agriculture and Markets, which operates the Fair, said. It cites expanded marketing efforts, making the Fair more “affordable,” increasing the amount “and quality” of free or low-cost entertainment, and the state spending more than $120 million to improve the Fairgrounds as reasons for the increased attendance.
Attendance is likely to again grow significantly this year as the State Fair boosts its number of days by nearly 40 percent.
Purchasing tickets
Regular sales of $3 admission tickets will begin April 1.
All sales will be only via Etix’ online channel or by phone to Etix customer support at 1-800-514-3849. Tickets ordered by phone incur a $4.25 delivery charge.
The Fair says its retail sales program has been “discontinued.” Tickets may be purchased online or by phone through the end of the Fair. Only those buying tickets from a ticket sales booth at an entrance gate will pay $5.
Online buyers may show either printed-at-home tickets or show the tickets on their phones at Fair entrance gates.
Special and promotion days
The State Fair says “before buying tickets, buyers should be aware of the Fair’s special and promotional days, which offer discounts for certain groups.” They include:
• Children age 12 and under are admitted free every day
• Biker Appreciation Day: Anyone arriving at the Fair on a motorcycle may park for free in any Fair lot and be admitted for $1 when showing a valid New York State motorcycle license on Saturday, Aug. 29
• Senior Days: Adults age 60 and over are admitted free on consecutive Mondays and Tuesdays on Aug. 24-25 and Aug. 31-Sept. 1
• Fire and Rescue Day: Members of fire departments and emergency services organizations with a valid current ID are admitted free of charge on Monday, Aug. 24;
• Women’s Day: All women are admitted for $1 on Wednesday, Aug. 26
• Law Enforcement Day: All members of police agencies with valid current ID are admitted free of charge on Monday, Aug. 31
• Native American Day: Members of all Indian tribes are admitted free of charge on Friday, Sept. 4, with admission taking place at Gate 5
• Student Day: People age 18 and under are admitted free of charge on Friday, Sept. 4
• Dollar Day on Labor Day: Admission for all is $1 on the Fair’s final day, Monday, Sept. 7.
ConMed to pay Q1 dividend of 20 cents a share in early April
UTICA — ConMed Corp. (NASDAQ: 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 for the first quarter. The dividend will be payable on April 6 to all shareholders of record as of March 16. At the company’s current stock price,
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UTICA — ConMed Corp. (NASDAQ: 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 for the first quarter.
The dividend will be payable on April 6 to all shareholders of record as of March 16.
At the company’s current stock price, the dividend yields about 0.8 percent on an annual basis.
ConMed says it’s a medical technology company that provides surgical devices and equipment for minimally invasive procedures. The firm’s products are used by surgeons and physicians in specialties including orthopedics, general surgery, gynecology, neurosurgery, and gastroenterology.
ConMed reported sales of $955.1 million in 2019, up 11.1 percent from
$859.6 million in 2018. The company generated net income of $28.6 million last year, down 30 percent from $40.9 million a year earlier.
Is Your Business A Revolving Door? 10 Ways To Keep Your Best Employees
Employee retention and turnover are important terms to every business owner and leader. But sometimes the driving factors behind why employees leave aren’t fully grasped or addressed by leadership, and if that disconnect persists, the business suffers while some of the best employees beat a path to the door. Leaders know that it’s vital to
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Employee retention and turnover are important terms to every business owner and leader. But sometimes the driving factors behind why employees leave aren’t fully grasped or addressed by leadership, and if that disconnect persists, the business suffers while some of the best employees beat a path to the door.
Leaders know that it’s vital to attract good talent, but knowing how to keep good talent involves an important process that leaders must learn and practice.
Making employee retention a priority for your company is essential for continual growth, success, and sustainability.
Here are 10 tips for business leaders and managers on how they can retain their best employees.
Make employees feel they’re part of something special. In the same way that you promote the value proposition of your products and services to potential customers, you should do the same with employees, only focusing on your attributes as an employer. Inclusivity and pride are feelings you can leverage to help them understand that working for your organization is a unique opportunity.
Emphasize the purpose and meaning of the work. The outstanding employees you seek to hire and retain have special talents, skills, and drive. Make it clear to them that what they are doing benefits both the company and your customers in important ways.
Ensure deserving team members are rewarded. Successful companies reward employees who go above and beyond. Recognition, bonuses, and promotions demonstrate your respect and appreciation for hard-working team members.
Give employees more responsibility. One of the most effective employee-retention strategies is to give them greater responsibility to make a bigger difference. This starts with financial-literacy training and continues with regular updates on business statistics like profits and revenue, and details on how their efforts are moving the needle.
Surround employees with other talented workers. People like to be a part of teams that are built for success. By creating groups of skilled and motivated workers, you can tap into a competitive and cooperative partnership that will benefit the business as a whole.
Mentor employees. When you prioritize personal growth and development, employees see that their careers are going somewhere and that their organization’s interests are aligned with their own.
Nurture trust in leadership. All great relationships are built on trust, and the workplace is no different. Outstanding employees will stay if they trust leadership, and that trust grows from leaders being honest, open, and interested in their team members.
Get employees emotionally invested. People are passionate about the things they have helped create. The more you engage employees in the development of the organization, the more emotionally invested they become and the more likely they are to stay.
Create a positive work culture. If you create a drama-free environment where honesty and integrity matter, your employee retention rate will rise.
Provide competitive compensation. None of the other retention strategies matter if you continue to underpay an employee. It is important to stay on top of what constitutes fair compensation in your industry.
Increasing employee retention and keeping it at a high level is challenging, but you can start by getting your people in the same game the owner is: the game of business.
You can build a winning culture by creating a business of business people. Allowing employees to contribute to a greater good and valuing their contribution inspires loyalty and commitment. At the end of the day, it’s all about creating a winning company and a company of winners.
Rich Armstrong (www.greatgame.com) is president of The Great Game of Business Inc., and co-author of “Get In The Game: How To Create Rapid Financial Results And Lasting Cultural Change.” Steve Baker is VP of The Great Game of Business Inc., and co-author of “Get In The Game.”
GENIUS NY Alumni Leverage Program Investment for Continued Success
This year’s five GENIUS NY teams have spent the last month-plus working with Tech Garden mentors to refine their business plans and pitches ahead of Finals Night on April 22, while learning about the Central New York community. The high-stakes finals event will welcome hundreds of community members as the teams vie for a $1
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This year’s five GENIUS NY teams have spent the last month-plus working with Tech Garden mentors to refine their business plans and pitches ahead of Finals Night on April 22, while learning about the Central New York community. The high-stakes finals event will welcome hundreds of community members as the teams vie for a $1 million grand prize, or one of four $500,000 investments.
Finals Night, and the infusion of investment that comes with it, marks a new beginning for these growing companies. At the same time, progress continues for teams from prior rounds well beyond the conclusion of their yearlong program. Recently, AutoModality announced the closing of an acquisition of UsPLM. AutoModality won the GENIUS NY $1 million grand prize in 2017, while UsPLM took part in the 2018 competition. Together, the companies enable drone users to plan, execute, and manage missions as well as store, manage, and analyze the data post-mission.
Akrobotix, a 2017 finalist, was recently awarded a National Science Foundation Small Business Innovation grant to support its continued growth. Fotokite, the 2018 $1 million grand prize winner, entered an exclusive partnership with Pierce Manufacturing to provide firefighting and public-safety responders with vehicle-integrated drones for aerial situational awareness. The company recently hired five new employees to support its continued growth. Sixteen of the 22 GENIUS NY competitors to date are still in-residence at the Tech Garden or receiving resources and programming.
I encourage you to continue to follow the program and all our participants’ progress at geniusny.com, and join us on Finals Night. The event is free but registration is required. To learn how your company can connect and support our GENIUS NY teams, contact Jeff Fuchsberg, director of GENIUS NY, at JFuchsberg@thetechgarden.com.
Robert M. (Rob) Simpson is president and CEO of CenterState CEO, the primary economic-development organization for Central New York. This viewpoint is drawn and edited from the “CEO Focus” email newsletter that the organization sent to members on Feb. 20.
Succession Planning for Nonprofits
The best way to predict your future is to create it. — Abraham Lincoln Succession planning, particularly at the CEO level, can be challenging for any tax-exempt organization. Obviously, if there is a qualified internal candidate who has been groomed for the position of a retiring CEO, that represents the ideal scenario. However,
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The best way to predict your future is to create it. — Abraham Lincoln
Succession planning, particularly at the CEO level, can be challenging for any tax-exempt organization. Obviously, if there is a qualified internal candidate who has been groomed for the position of a retiring CEO, that represents the ideal scenario. However, the ideal scenario appears to be more the exception than the rule for many health and human-service providers.
The objective of this column is to provide a structured 10-step approach to effective succession planning at the CEO level as well as other key management positions. Succession planning is one of the top 10 responsibilities for each and every tax-exempt board of directors.
An effective approach and results to succession planning have been made more difficult by the following factors, among others:
• The demographic impact of the “Baby Boom” generation, with 10,000 Boomers retiring on average each day through 2029. That is the year that the last of the Boomers, born in 1964, will reach age 65.
• The generation (Gen X) following the Baby Boomers are fewer in number and, as a result, the number of CEO positions available far exceed the pool of qualified CEO candidates.
• Upstate New York is losing population as those middle class and wealthy taxpayers seek lower-tax states of residency and more-desirable weather conditions.
• There are more than 3,000 tax-exempt health and human-service providers in New York state, each of which has a CEO or an executive-director position.
There are many other factors that challenge a board of directors in a CEO search process. Following the 10-step approach described below has proven to be generally successful throughout my career.
1) Develop a contract or letter agreement with the current CEO. In my early days of practice, a letter agreement specifying a compensation arrangement was generally sufficient. For the past 20 years, I have recommended a contract, with legal-counsel review and input, as being preferred. A contract establishes the necessary baseline of both CEO and board expectations.
2) CEO goals and objectives. The contract should specify that the CEO will provide, in writing, annual goals and objectives subject to board review and approval.
3) Incentive-based performance compensation. Based on the annual review and assessment of the goals and objectives, I believe that a component of CEO compensation should be based on achieving the agreed-upon CEO goals and objectives. The percent of incentive compensation to total compensation can generally range from 5 percent to 20 percent.
4) Enhanced fringe-benefit offerings. Many CEO compensation arrangements may include enhanced fringe benefits that are not generally offered to the organization’s employees. The board must determine whether the cost of these enhanced fringe benefits will be allowable expenses under the various reimbursement regulations of government funding sources. Enhanced fringe benefits, although non-allowable, can be provided as long as the organization’s cost reports properly reflect those costs that are deemed unallowable by the funding sources.
5) Notice of retirement date. The CEO’s contract, subject to legal review and approval, should have a notice provision by which the CEO must inform the board chair of his/her intention to retire. Notice provisions, depending on facts and circumstances, can range from 6 months to 18 months. For longer notice provisions, it is important that the CEO not be prematurely placed in a “lame duck” position.
The preceding steps are contractual in nature. The following steps are procedures that, if followed, can result in a smooth and effective CEO transition process.
6) Management-team coaching and leadership development. I believe the best approach to CEO transition is a standard policy of coaching and leadership development provided to management team members. These processes can be implemented well in advance of the expected CEO transition. There are many effective coaching/leadership-development consultants available to provide these services. In addition, many universities offer certificate programs specifically designed for development of an individual’s necessary skill set for CEO leadership.
7) Internal promotion vs. external search. If an internal candidate has been identified and has developed the necessary skill set, there may be no need to look outside the organization for other CEO candidates. However, I do recognize that it is, at times, important for the internal candidate to be vetted in comparison to external candidates who may apply through an external search and recruitment process.
8) Establishing a search committee and targeted recruitment. Since the selection of the CEO is a board responsibility, I believe that a board search committee, including board officers and certain committee chairs, provides the appropriate structure for completing an effective search process. External-recruitment processes can represent an organizational cost that may or may not be affordable. Accordingly, a cost-effective alternative to a full recruitment is known as a “targeted recruitment.” In a targeted recruitment, typically the board and the current CEO identify qualified candidates who are working or have worked for other organizations. Each of the agreed-upon individuals is contacted by a member of the board search committee to determine whether the individual is open to applying for the CEO position.
9) Current CEO involvement in recruitment. I believe the current CEO and, if appropriate, management-team members should be surveyed by the board search committee. The specific objective of the survey will be to obtain input from current management team members regarding the performance attributes and management style that are most desirable. These desirable performance attributes should be compared to the organization’s strategic plan and its specific goals and objectives. This will facilitate the identification and recruitment of a new CEO who has demonstrated skills and competencies best suited for fulfillment and alignment with the organization’s mission and vision.
10) Annual board responsibilities. Each tax-exempt board has regulatory compliance provisions as a result of the Nonprofit Revitalization Act and the Internal Revenue Service Form 990 requirements. Fundamental to compliance with these requirements is an organized and disciplined approach to a documented annual-performance evaluation of the CEO. The board executive committee, board officers, or a board compensation committee can be assigned responsibility for evaluating the CEO and providing the necessary feedback on CEO goals and objectives. This process should include a retrospective evaluation and prospective consensus on the CEO’s past and future performance. This process can also include consensus regarding the incentive-compensation component for the CEO.
Every board member should be aware that New York State government funding sources have made it quite clear that the number of individual tax-exempt human-service providers needs to be reduced. The primary factors driving the state’s expectation of more efficiency and reduced duplication of effort are:
• Embracing the advantages available through technology sophistication. For example, a calculator I purchased in 1973 cost $300, and the same functionality can be purchased today for $50.
• Addressing the recognized limitation of qualified CEO candidates through mergers and affiliations of individual provider organizations, resulting in cost reductions.
• The fact that every for-profit industry in the U.S. has experienced extensive consolidation over the past two decades.
My personal opinion is that what is now viewed as a voluntary recommendation in favor of mergers/affiliations will become a mandate as a result of government funders establishing new requirements that will disqualify many smaller organizations from the ability to continue providing services. Government funders have the power and authority to either cancel or choose non-renewal of service contracts based on their assessment of quality outcomes and/or cost efficiencies of individual providers.
Gerald J. Archibald, CPA, is a partner in charge of the management advisory services at The Bonadio Group. Contact him at (585) 381-1000, or via email at garchibald@bonadio.com
The 5 Cs That Can Help Businesses Ride Out Tough Times
With corporate CFOs expressing worries that 2020 could bring a recession, according to a recent Deloitte survey, businesses small and large know they need to hope for the best, and brace for the worst. But, as important as business savvy and financial expertise can be in riding out difficult times, other traits also come into play
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With corporate CFOs expressing worries that 2020 could bring a recession, according to a recent Deloitte survey, businesses small and large know they need to hope for the best, and brace for the worst.
But, as important as business savvy and financial expertise can be in riding out difficult times, other traits also come into play and may be just as essential.
One of those essential traits is courage. Thirty years ago when I started my company, I probably would never have said it takes courage to lead a small business, but without it, I assure you, you’ll fail.
My firm, like many businesses, endured tough economic times after the 9/11 attacks. Revenue dropped and bankruptcy loomed as a real possibility.
I had to figure out how to turn my company around. It took courage, endurance, and perseverance, but I knew I could not go back, so I had no choice but to go forward.
Courage is just one of the 5 Cs for building and maintaining a successful business.
They’re the guiding principles I’ve learned through the ups and downs and all the mistakes.
In addition to courage, the other Cs are:
Caring. First, care enough about yourself and your dreams to believe you can achieve success. Just as important is caring about your staff and creating a positive work environment for them. Be supportive when stressful situations arise in their lives. Finally, a good business leader cares about customers. Be willing to listen to their concerns, take responsibility for mistakes, and correct them.
Confidence. Most people have faced and overcome challenges in life. The confidence that allowed them to prevail over those challenges needs to be brought into play in business. Believing you can reach for and achieve your short-term and long-term goals is essential to getting you there.
Competence. It’s critical to stay up on the trends and disruptions in your industry. But you need to recognize your limitations, and you shouldn’t take on jobs within your company for which you’re not qualified. You’ll make yourself miserable and your business will suffer. So, hire an accountant to handle the financials. Get marketing help if that’s not your thing. Hire competent people who you will trust in their jobs — and then trust them.
Commitment. Stay dedicated to your goals no matter how difficult that becomes. There are times when this will be not only difficult, but downright painful. That was the case during those tough times after the 9/11 attacks. I had to make drastic cuts, including letting go beloved employees. For more than a year, I ramped up marketing efforts, diversified our services, and took other steps to get the business out of the red. In 2005, I succeeded — and it has been upward and onward ever since.
If you’ve recently launched a new business, know that you’ll encounter challenges, but don’t panic. When times get tough, if you rely on the Cs as a sort of compass, you can guide the business back to smoother waters.
Marsha Friedman, author of “Gaining the Publicity Edge: An Entrepreneur’s Guide to Growing Your Brand Through National Media Coverage,” is founder and president of News & Experts (www.newsandexperts.com), a national public-relations agency.
Cornell’s Arnot Teaching Forest gets $500K from state for improvements
VAN ETTEN — Cornell University will use state funding of $500,000 for work at the Arnot Teaching and Research Forest in Van Etten in Chemung County to improve and expand maple processing and increase efficiency in operations. It’s one of two projects for which New York State Agriculture Commissioner Richard Ball on Jan. 31 announced
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VAN ETTEN — Cornell University will use state funding of $500,000 for work at the Arnot Teaching and Research Forest in Van Etten in Chemung County to improve and expand maple processing and increase efficiency in operations.
It’s one of two projects for which New York State Agriculture Commissioner Richard Ball on Jan. 31 announced a total of $600,000 to “boost” the state’s forestry and wood-products sector.
The Arnot Teaching Forest project will provide “critical” renovations, equipment upgrades, construction of a research kitchen, and the creation of a modern sugar house for expanded processing and research by Cornell University’s maple program.
“Cornell’s Arnot Teaching and Research Forest generates innovative research and delicious new products that fuel New York’s powerhouse maple industry, which has seen an incredible 91 percent increase in market value over the last five years,” Kathryn Boor, dean of Cornell’s College of Agriculture and Life Sciences, said in a statement. “This funding will support important upgrades to enhance our maple research on behalf of New York State.”
The forest — operated by Cornell’s department of natural resources in the College of Agriculture and Life Sciences — spans 4,200 acres. Located about 15 miles from Ithaca in Van Etten, Arnot is used for teaching and for Cornell Cooperative Extension activities and research. It’s also home to two maple-syrup research facilities.
“The NYS Maple Producers Association wants to extend a heartfelt thank you to Governor Andrew Cuomo and Commissioner Richard Ball for believing in [New York] maple and the influence it has on the New York State economy and agri-tourism,” Helen Thomas, executive director of the New York State Maple Producers’ Association, said. “Thanks to their support, the Arnot Maple Research Center, which was in desperate need of a renovation, will be revamping to incorporate modern technology. This advancement will position NYS as a leader in maple research both nationally and internationally.”
The Southern Tier Agricultural Infrastructure Program is providing the funding, complementing the region’s “Southern Tier Soaring” economic-development plan to grow agriculture and advance the economy.
WDI funding
Besides Cornell’s $500,000, an additional $100,000 will allow the Albany–based Workforce Development Institute (WDI) to offer training opportunities in the industry.
Both projects “deliver on commitments” outlined at the state’s first Forestry and Wood Products Summit in 2018, the New York State Department of Agriculture and Markets said.
New York State receives “significant” benefits from its forest industry, the department contends. The sector includes forestry and logging, solid wood products, pulp and paper products, and wood furniture.
In 2016, New York’s forest economy generated $13.1 billion in direct output. Forestry provides more than 40,000 jobs and $2.5 billion in direct labor income, with average annual earnings of $61,526 per worker.
“These new programs will help grow New York State’s timber and forestry sector, which is a major component of our agricultural economy upstate,” Ball said in a statement. “The programs provide the critical links between education, training and research that are needed for a successful, modern-day forestry industry and enhance the workforce pipeline from student to forestry and wood products producer.”
Workforce-development project
The funding provided to the WDI from the New York State Wood Products Development Council leverages $521,000 in federal assistance from the Northern Border Regional Commission. That funding supports of the forest industry in the North Country and throughout the state.
Established by statute within the state Agriculture and Markets Department, the Wood Products Development Council is tasked with “supporting and encouraging” the practice of sustainable forestry and the manufacture of wood products.
The workforce-development project will assist loggers, sawmill and transport companies, foresters, and wood-products manufacturers to participate in expanded workforce-development programs. They include Troops to Timber, a collaboration between WDI, Paul Smith’s College, and Fort Drum.
Troops to Timber teaches transitioning soldiers about opportunities for second careers in forestry and provides hands-on experiences through a series of workshops. The program is expected to benefit up to 80 students.
They also include the summer logging training program at Paul Smith’s College in the Adirondacks. Funding will “enhance” this existing program, which provides hand-on training and connects students to viable internships that can lead to successful careers in logging.
The programs also include New York logger training (NYLT). The NYLT program provides educational skills and training for the forest products industry, including foresters and sawmill companies, in New York state.
Forestry and Wood Products Summit
The Wood Products Development Council supported the first-ever Forestry and Wood Products Summit in 2018 to advance New York’s forestry industry.
Members of the Wood Products Development Council, academia, local government, and the industry met with state officials to identify growth challenges and explore new opportunities for New York’s forest and wood products businesses.
During the summit, several initiatives were announced to help strengthen the sector, including funding to support the growth of the maple industry, increased promotion and marketing efforts, expanded research, and enhanced workforce development.
Deer Creek Flea Market & Campground: A story of perseverance
PULASKI — Sir Richard Branson, British business magnate, author, investor, philanthropist, and billionaire owner of the Virgin Group of businesses once said, “Business opportunities are like buses, there’s always another one coming.” As concise a statement as that is by such a prominent businessperson, that statement is precisely what transpired with Dan and Debra Sidon
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PULASKI — Sir Richard Branson, British business magnate, author, investor, philanthropist, and billionaire owner of the Virgin Group of businesses once said, “Business opportunities are like buses, there’s always another one coming.” As concise a statement as that is by such a prominent businessperson, that statement is precisely what transpired with Dan and Debra Sidon in their quest to secure small-business ownership.
Dan Sidon had been primarily focused on purchasing an existing campground business for families. While he was able to locate one for sale that appealed to him, the property was sold to another businessperson. The very same day, Dan received information about the Deer Creek Flea Market near Pulaski. This 22-acre property is located just outside Pulaski, in the town of Richland, on State Route 3. It has been a popular stop along Northern New York’s highly traveled Sea Way Trail in spring, summer, and fall for more than 50 years. Dan didn’t spend a lot of time dwelling on the lost opportunity but instead focused on the one presented the same day.
As most business owners can attest to, there are many common threads among successful small-business entrepreneurs. They include perseverance, work ethic, positivity, resiliency, and flexibility. Those were the essential, traits necessary to make this dream a reality. There were a host of “speed bumps” that Dan had to navigate around in the process of completing this transaction. Some were operational, and some were legal. And while the transaction took several months to complete, the Sidons were able to finalize the deal in the fall of 2019.
Prior to this, Dan Sidon had worked in both the restaurant and construction business for more than 25 years. His industry experience was perfectly suited to making this a successful business venture, given the long-term vision for the property. Unfortunately, the property had been neglected over time and required someone to come in with a plan and the knowledge to make it a reality. Some of the challenges that Sidon faced were blessings in disguise. He was able to take occupancy of the property prior to formally taking ownership. That allowed Sidon the opportunity to take a “pulse” on the property, assess what needed to be done, interact with the vendors and customers, and formulate a game plan for the coming months. Because of his practical construction experience, he literally rolled up his sleeves and began working on plumbing and electrical issues as well as cleaning the property to breathe new life into it in 2019.
The Deer Creek Flea Market runs from May 1 to Sept. 30. Sidon currently has many vendors who return each season to rent space inside the vast 14,600-square-foot pole barns. They sell everything from antiques, arts and crafts, as well as sporting goods to apparel. As Dan has noted, “This is an environmentally friendly flea market as we have many repurposed items for sale.” Inside the sprawling barns are public restrooms for vendors and customers, and even a cozy snack shop with an eating deck.
The Deer Creek Flea Market currently has 90 spaces indoors and more than 40 spaces outdoors for vendors. In addition, there is parking for 250 cars. In the off-season, the facility is utilized by the huge amount of local boat owners who need to rent indoor storage for their vessels, which is another great revenue source that the property provides. It currently has 60-plus spaces for indoor winter storage of boats and campers. Sidon plans to provide customers with two opportunities this season to set up a “Garage Sale” on the property at no charge. Soon, Dan’s dream of providing safe, comfortable campground facilities for families will be realized. He wants his business to be a spring, summer, and fall destination for families and hopes to eventually include small music festivals.
While he has faced his share of challenges, Sidon has loved meeting the large number of people that visit this market from all over the Northeast, including Canada, and have made this a seasonal destination.
Sidon notes that this couldn’t have been accomplished without the help of both his wife and the Small Business Development Center (SBDC) at Onondaga Community College.
“This has been a real treat. I can see myself doing this until I can’t work any longer without help. I needed help understanding my options as a business entity, business plan development, financial projections, and securing working capital for the purchase of the property, renovations and new equipment. I couldn’t have accomplished this without the help of my SBDC Business Advisor Mark Pitonzo. He helped make the process much easier and was wonderful to work with.”
Your work is going to fill a large part of your life and the only way to do great work is love what you’re doing. As author Nicole Snow said, “A small business is an amazing way to serve and leave an impact on the world you live in.”
For more information on the Deer Creek Flea Market & Campground, please visit its website at www.deercreekfleamarket.com or Facebook page at www.facebook.com/Deer-Creek-Flea-Market-1020335658160899.
Advisor’s Business Tip: Small-business success can often be the result of “situational flexibility and resiliency.” Look for gaps that have gone unaddressed in the marketplace. Once you’ve made the decision to move forward with a business, don’t let obstacles stand in the way of your entrepreneurial dreams. Your startup team must be responsive and resilient.
Mark Pitonzo is a business advisor at the SBDC’s satellite office located at Onondaga Community College @Liverpool. Contact him at m.j.pitonzo2@sunyocc.edu
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