Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
Shopping center in Elbridge sold for $320,000
ELBRIDGE — The outdoor shopping center located at 233 E. Main Street in Elbridge was recently sold. Foxtrot Lima Enterprises purchased the more than 16,000-square-foot retail strip center in December for $320,000 from Kano Enterprise LLC as an investment property. Elaina Pirro of Cushman & Wakefield/ Pyramid Brokerage Company represented the buyer in this transaction, […]
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.
ELBRIDGE — The outdoor shopping center located at 233 E. Main Street in Elbridge was recently sold.
Foxtrot Lima Enterprises purchased the more than 16,000-square-foot retail strip center in December for $320,000 from Kano Enterprise LLC as an investment property.
Elaina Pirro of Cushman & Wakefield/ Pyramid Brokerage Company represented the buyer in this transaction, according to a news release from the real-estate firm.
The shopping center, located on 6.28 acres of land, was assessed at $660,000 in 2019, according to Onondaga County’s online property records. The property previously sold for nearly $121,000 in 2014, $570,000 in 2006, and $550,000 in 2004.
Pet Containment of New York leases DeWitt space
DeWITT — Pet Containment of New York recently leased 1,505 square feet of office and service space located at 6838 Ellicott Drive in DeWitt. Cory LaDuke of Cushman & Wakefield/Pyramid Brokerage Company represented the tenant in this lease transaction, per a release from the real-estate firm. Oliva Properties owns the Ellicott Drive property — which
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.
DeWITT — Pet Containment of New York recently leased 1,505 square feet of office and service space located at 6838 Ellicott Drive in DeWitt.
Cory LaDuke of Cushman & Wakefield/Pyramid Brokerage Company represented the tenant in this lease transaction, per a release from the real-estate firm.
Oliva Properties owns the Ellicott Drive property — which includes a 30,500-square-foot, one-story building on 2.89 acres — according to Onondaga County’s online property records. The property was assessed at nearly $725,000 for 2019.
New York egg production rises nearly 8 percent
New York farms produced 150.2 million eggs in December, up 7.6 percent from 139.6 million eggs in the year-earlier period, the USDA’s National Agricultural Statistics Service (NASS) recently reported. The number of layers in the Empire State averaged almost 5.8 million in December, up almost 5 percent from more than 5.5 million layers a year
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.
New York farms produced 150.2 million eggs in December, up 7.6 percent from 139.6 million eggs in the year-earlier period, the USDA’s National Agricultural Statistics Service (NASS) recently reported.
The number of layers in the Empire State averaged almost 5.8 million in December, up almost 5 percent from more than 5.5 million layers a year prior. December egg production per 100 layers totaled 2,598 eggs, up 2.6 percent from 2,531 eggs in December 2018.
In neighboring Pennsylvania, farms produced 799.1 million eggs during December, up 12 percent from 713.7 million eggs a year ago.
U.S. egg production totaled 9.8 billion eggs in December, a rise of nearly 4 percent from more than 9.4 billion eggs produced a year ago.
Tioga County Chamber leader discusses retirement & future
OWEGO — Gwen Kania says a recent health scare changed her perspective on life and helped lead her to the decision to retire as president and CEO of the Tioga County Chamber of Commerce. “I’ve always kind of thought I’d be retiring at this age I’m at,” Kania, 59 tells CNYBJ in a Jan. 22
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.
OWEGO — Gwen Kania says a recent health scare changed her perspective on life and helped lead her to the decision to retire as president and CEO of the Tioga County Chamber of Commerce.
“I’ve always kind of thought I’d be retiring at this age I’m at,” Kania, 59 tells CNYBJ in a Jan. 22 phone interview. “But last year I had a bout with breast cancer and look at life differently. Priorities have changed.”
Kania, who notes she is healthy now, says she will step down at the end of May, after 12 years at the organization. She started with the Tioga Chamber in 2008 as director of operations. In 2014, when Martha Sauerbrey left her role as president, Kania was promoted to the top job.
Kania adds that her move will also give “someone an opportunity to step forward. New ideas are good. It’s good to have a fresh perspective.”
As for what’s on her immediate docket after leaving the chamber, Kania says she will probably take the summer off, golf more, and work on some projects around the house. Then, she’ll look at what she wants to do.
“I’ll take some time to figure it out. I’m not going to totally quit the workforce,” Kania says. “I will likely do something, but it won’t be in a leadership position.”
She will also spend more time with family and friends. What she’s been through reminded her how important that is. “It was a change in perspective after you have a cancer fight,” she says.
Kania won’t be easy to replace, the Tioga Chamber’s board of directors says.
“Under Gwen’s leadership, many new programs such as the Annual Job Fair, the Chamber OJT [on-the-job training] program, and Restaurant Week were added. She also saw the Chamber through our Centennial year,” Roseann Cole, chair of the Tioga Chamber board and owner of Upstate Safety Services, said in a statement.
Kania says she will miss the interaction with business owners and managers on a day-to-day basis. “The business community is very welcoming and collaborative and out for the best interest of the whole community,” she says.
Kania says her top challenge has been “doing everything that a big chamber would do with just 2 people.” In addition to the president/CEO post, the Tioga Chamber also employs Adrianne Goodrich as director of operations.
Search process
The Tioga Chamber’s board of directors says it hopes to fill the president and CEO position quickly enough to allow for maximum training time. It has posted the job on indeed.com and its own website job board (https://www.tiogachamber.com/jobs/) and is still accepting candidates.
The position’s salary is listed at $48,000 per year. The job also has additional compensation in the form of bonuses.
The chamber is not using a search firm. Instead, it has a search committee composed of seven board members that is handling the hiring process.
“We are very hopeful, We’ve gotten some good candidates so far,” says Kania. The résumés come though Kania, who removes the names before forwarding them to the search committee.
When asked why, she says, “Everybody knows everybody in Tioga County. We’re trying to take away any bias as far as gender or what have you.”
New York State Fair director gets ready to add five days
GEDDES — If the state legislature gives its approval, the New York State Fair will become an 18-day event this August, up from the current 13 days. Gov. Andrew Cuomo included $4.9 million in his state budget proposal, issued Jan. 21, to fund the additional days. If the state legislature OK’s the proposed extension, 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.
GEDDES — If the state legislature gives its approval, the New York State Fair will become an 18-day event this August, up from the current 13 days.
Gov. Andrew Cuomo included $4.9 million in his state budget proposal, issued Jan. 21, to fund the additional days.
If the state legislature OK’s the proposed extension, the State Fair would include an additional weekend and new programming, including a motor show held in the Expo Center and “sensory friendly days.”
Fair director’s view
The governor has made a “tremendous investment” in the State Fairgrounds, says Troy Waffner, director of the State Fair. Crews removed the grandstand, the track, built a new Expo Center, and opened up 63 acres of land.
He noted that on the last day of the 2019 State Fair, Cuomo challenged Richard Ball, commissioner of the New York State Department of Agriculture and Markets, that he had “better make sure this Fair keeps growing.”
“I think the next logical step is … to add days if you really want to grow the Fair exponentially,” says Waffner, who spoke with CNYBJ on Jan. 23.
Fair attendance is up more than 46 percent since the state began to make more than $120 million in investments, with 1.33 million people attending the Fair in 2019, according to the state Agriculture and Markets Department.
As of now, the data indicates that New York has the ninth-largest fair in the country. Of the top nine, Waffner says, New York’s fair runs 13 days, Minnesota’s fair has 12 days, and others run 16 or more days.
Waffner knows officials with the Erie County Fair (scheduled for Aug. 12-23) are concerned, along with vendors who participate in both fairs, with the three-day overlap involved now that the New York State Fair is projected to start Aug. 21.
The two fairs are each ranked among the 12 largest fairs in North America. The New York State Fair ranked No. 9 in attendance with 1.33 million in 2019, while the Erie County Fair placed 12th with attendance of 1.24 million last year, according to carnivalwarehouse.com. Both fairs set new attendance records.
“We’re going to work with everybody to really make sure that their animals get in or their food wagons get in, or whatever the case may be, to make sure it works for everybody,” says Waffner, regarding the schedule overlap.
Spending added funding
The $4.9 million in budgeted funding will help pay for additional programming, which could be the additional concerts that the State Fair has to book for Chevy Court and the experience stage, says Waffner.
“This year, we’ll probably hire, with five additional days, between 2,000 and 2,100 people for the 18 days of the Fair… The money will also be used for that,” he adds.
When asked if the State Fair has a revenue projection for the additional five days, Waffner says the work on calculating that figure continues.
“I’d be happy to share but we’re still working our way through the math on it because … obviously we’re forecasting to some extent. We just want our numbers to be as good as they can be before we start releasing [figures],” says Waffner.
When asked if it’ll be a problem if a vendor can’t arrive in Geddes until after the first weekend, Waffner replies, “Our goal is to make this work for everybody.”
Waffner also notes that the State Fair would like to “stabilize” the price of admission at a lower price, so that it won’t need to offer the occasional $1 or $3 admission days.
“It’s tried and true tradition at the State Fair, so yes, Labor Day will still be $1. The other $1 days we’re taking a look at,” says Waffner.
Even though it remains a proposal, the State Fair started promoting the extra days the same day that they were announced. When asked if he has any concern that state lawmakers won’t approve the expansion and funding, he noted that state legislators representing the region are “very supportive.”
He also acknowledged, “That’s not a part I’m involved in. I’m [focused on] the logistics and operations part of this [event.]”
Sensory-friendly days
This year’s State Fair will also include sensory friendly days. When asked to explain the meaning of those days, Waffner says some adults and children have issues with the surroundings in terms of noise and lights.
Sensory friendly days will involve shutting off all the music, all the lights on the rides, and the public-address system “for several hours,” so when those affected come in, they’re not “overloaded.”
“The idea is just to let every kid and adult be able to enjoy the Fair,” says Waffner.
Jefferson County hotel occupancy rate dips 0.9 percent in December
WATERTOWN — Hotels in Jefferson County welcomed slightly fewer guests in December than in the year-prior month, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 0.9 percent to 35.1 percent in December, according to STR, a Tennessee–based hotel market data and analytics
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.
WATERTOWN — Hotels in Jefferson County welcomed slightly fewer guests in December than in the year-prior month, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county fell 0.9 percent to 35.1 percent in December, according to STR, a Tennessee–based hotel market data and analytics company. It was the fifth straight monthly decline in occupancy. For all of 2019, hotel occupancy in the county slipped 1.2 percent to 52.9 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room fell 0.9 percent to $31.68 in December. For all of last year, the county’s RevPar increased 2.2 percent to $53.40.
Average daily rate (or ADR), which represents the average rental rate for a sold room, was unchanged at $90.30 in December. In 2019, Jefferson County’s ADR was up 3.4 percent to $100.99.
Planet Fitness franchisee formally opens new, larger gym near Ithaca
LANSING — ECP-PF Holdings Group, a Planet Fitness franchisee, has recently formally opened its new, 20,400-square-foot Planet Fitness gym at 2309 North Triphammer Road in the village of Lansing. Planet Fitness and ECP-PF Holdings celebrated the grand opening of the new fitness center with a ribbon-cutting ceremony on Thursday, Jan. 16. It had previously operated
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.
LANSING — ECP-PF Holdings Group, a Planet Fitness franchisee, has recently formally opened its new, 20,400-square-foot Planet Fitness gym at 2309 North Triphammer Road in the village of Lansing.
Planet Fitness and ECP-PF Holdings celebrated the grand opening of the new fitness center with a ribbon-cutting ceremony on Thursday, Jan. 16.
It had previously operated in a smaller location across the street at Shops at Ithaca Mall. The company said it relocated into a larger, more convenient space for members. Its amenities include cardio machines and strength equipment, a 30-minute express circuit, locker rooms and showers, flat-screen TVs, HydroMassage loungers, massage chairs, and tanning beds.
The facility is open and staffed from 12 a.m. Monday to 9 p.m. Friday, and from 7 a.m. to 7 p.m. on Saturday and Sunday.
Founded in 1992 in Dover, New Hampshire, Planet Fitness says it is one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S. by number of members and locations. As of June 30, Planet Fitness had more than 14 million members and 1,859 locations in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama, and Mexico. More than 95 percent of Planet Fitness gyms are owned and operated by franchisees.
ECP-PF Holdings Group is based in Orange, Connecticut. It is one of the largest Planet Fitness franchise ownership groups, currently operating more than 90 locations across Canada, Arizona, Connecticut, Georgia, New Mexico, New York, and Tennessee. It is owned by Exaltare Capital Partners, a Boston–based private-equity firm.
Visions Investment Services acquires Glen Wood Financial Group
ENDWELL — Visions Investment Services (VIS), the wealth management arm of Visions Federal Credit Union (FCU), announced it has acquired the Glen Wood Financial Group, Inc. The transaction closed on Dec. 31, Mandy DeHate, associate VP of marketing at Visions FCU, tells CNYBJ in an email. The acquisition comes as Glen Wood prepared for retirement,
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.
ENDWELL — Visions Investment Services (VIS), the wealth management arm of Visions Federal Credit Union (FCU), announced it has acquired the Glen Wood Financial Group, Inc.
The transaction closed on Dec. 31, Mandy DeHate, associate VP of marketing at Visions FCU, tells CNYBJ in an email.
The acquisition comes as Glen Wood prepared for retirement, also on Dec. 31, according to DeHate. VIS didn’t release any financial terms of its acquisition agreement.
The Glen Wood firm, which has offices in both Chenango and Ithaca, is now operating as Visions Investment Services, says DeHate. Those offices are located at the Chenango Commons Golf Course in Chenango and in the Gateway Plaza in Ithaca.
In the deal, VIS retained one employee, who works at the Chenango office. Sessions at the Ithaca location are by appointment only, says DeHate. She also notes that Visions has two wealth-management advisors, Richard Barber and Kevin Porter, working from both offices.
“We’re committed to being our member’s financial partner and serving them at every stage of life” Ty Muse, president & CEO of Visions FCU, said in a news release. “This acquisition made strategic sense and will only strengthen Visions Investment Service’s ability to serve our members financial needs. We thank Glen for entrusting us with his clients and wish him the very best in his retirement.”
Visions FCU described the acquired company as a “well recognized and trusted financial firm in the area.” The Glen Wood Financial Group, Inc. was founded in 2002.
“After a great deal of research and comparison, I decided to partner with Visions Investment Services. Having spent a great deal of time working with VIS in preparation for my retirement, they have become decidedly familiar with the level of professionalism, knowledge and support my clients have grown to expect. I’m confident our clients will be in very good hands,” Glen Wood, president of the Glen Wood Financial Group, Inc., said in a statement.
New state law gives credit unions access to BDD program
ALBANY — A new state law allows credit unions to take part in New York’s banking development district (BDD) program. State lawmakers approved the bill earlier in 2019 and Gov. Andrew Cuomo signed it in December. The New York Credit Union Association (NYCUA) “strongly supported” its passage, per a news release on the association’s website.
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.
ALBANY — A new state law allows credit unions to take part in New York’s banking development district (BDD) program.
State lawmakers approved the bill earlier in 2019 and Gov. Andrew Cuomo signed it in December. The New York Credit Union Association (NYCUA) “strongly supported” its passage, per a news release on the association’s website.
The Assembly version of the bill was introduced by Assemblyman Kenneth Zebrowski, (D–New City), while Sen. Velmanette Montgomery (D–Brooklyn) introduced the Senate version.
“Passage of this law is a major victory for credit unions and a major victory for New Yorkers — especially those who reside in underserved and under-banked areas,” William J. Mellin, president and CEO of NYCUA, contended. “With this new law, more New Yorkers will have critical access to the credit union and financial system.”
New York created the BDD program in 1997 to encourage financial institutions to establish branches in “economically distressed” communities across the state that have a “demonstrated need” for banking services.
Banks and trust companies have “largely underutilized” the program, NYCUA contends. At the same time, credit unions weren’t able to participate “due to the language” in the original legislation establishing the program.
Financial institutions that are approved for a BDD designation are eligible to receive up to $10 million in subsidized public deposits and other benefits, including below market-rate deposits from New York State. These deposits are intended to lower the financial risk that the branch may incur when opening in an underserved community, “usually” comprised of low- and moderate-income households.
The legislation also represents the “first time in state history” that credit unions are permitted to accept public deposits, NYCUA said. The organization “continues to advocate” for additional legislation that would expand credit union deposit access to state and local governments.
2020 Economic Forecast Calls for Progress and Optimism
During our annual Economic Forecast breakfast [on Jan. 22], we highlighted new optimism that is being felt in our community as we start this new decade. Members of the business community who contributed to this year’s Economic Forecast Report described our regional economy using words like vibrant, evolving, growing, progress, strong, robust, and diverse. This
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.
During our annual Economic Forecast breakfast [on Jan. 22], we highlighted new optimism that is being felt in our community as we start this new decade. Members of the business community who contributed to this year’s Economic Forecast Report described our regional economy using words like vibrant, evolving, growing, progress, strong, robust, and diverse.
This optimism combined with statistics and other indicators, tell a new story of economic advancement for the region. Seventy-four percent of our forecasters say their 2019 was either strong or very strong, and 76 percent anticipate a strong to very strong year ahead.
When it comes to job growth, we are seeing some of the best statistics in decades. According to the NYS Department of Labor, in every month of 2019 the Syracuse MSA grew jobs over the previous year at a rate of more than 2 percent. Wages were also up 4 percent in Syracuse from November 2018 to November 2019.
This progress is also helping to drive population growth in the right direction. In fact, the city of Syracuse is unique as it saw a 0.32 percent increase in its population between 2017 and 2018, making it the only metro area in New York state to see gains. Additionally, the American Community Survey data shows a 12.8 percent growth in millennials in Onondaga County between 2010 and 2018, with the largest actual gain in the city of Syracuse, with an increase of 9.3 percent.
And while the overall rate of poverty remains far too high, the numbers are beginning to move in the right direction. Since 2012, Black and African American poverty has decreased more than 3 percent. For Hispanics and Latinos, poverty fell more than 11 percent. Furthermore, the Brookings Metro Monitor has reported major improvements in measurements of inclusion, employment rates and median earnings for people of color, while median earnings gaps and poverty rates decreased. While we must not mask the true human toll of racial and socio-economic inequality that still persists in our community, this progress, however slight, is an opportunity to reinforce the need to focus our collective and continued attention on this pressing need.
In his analytic assessment of national and regional economic trends, keynote speaker and M&T Bank Regional Economist Gary Keith stated that the strength of the overall national economy will continue through 2020. Likewise, the region’s growth is anticipated to continue, with Real GDP growth strong at about 1 percent.
These statistics create the foundation of a new and emerging narrative for our community. It’s optimism born from seeing transformative projects take shape in our community, by elected leaders aligned in their objectives, and from our collective efforts to plan and execute on economic strategies rooted in data and best practices.
As we embark on a new decade, let’s take a small moment to celebrate our progress, then turn our focus to the position we want our region to be in when we begin 2030. My economic forecast is that we will look back on this moment as the beginning of our turning point, because today’s progress can continue, even accelerate, through our collective efforts.
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 Jan. 23.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.