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Pathfinder Bancorp to pay first-quarter dividend on May 10
OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), holding company for Pathfinder Bank, recently declared a quarterly cash dividend of 6 cents per share on its common stock for the fiscal quarter ending March 31. The dividend will be payable to all Pathfinder shareholders of record on April 18 and will be paid on May 10, […]
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OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), holding company for Pathfinder Bank, recently declared a quarterly cash dividend of 6 cents per share on its common stock for the fiscal quarter ending March 31.
The dividend will be payable to all Pathfinder shareholders of record on April 18 and will be paid on May 10, the banking company announced in a news release.
At Pathfinder’s current stock price, the dividend payment yields about 1.8 percent on an annual basis.
Pathfinder Bank has six branches in Oswego County and three branches in Onondaga County. It’s ranked first in market share in Oswego County with a 44 percent share of total market deposits, according to FDIC statistics.
Thomas W. Schneider is president and CEO of Pathfinder Bancorp.
Genius NY grand prize winner to make “massive pivot” to CNY
SYRACUSE — With its win in the Genius NY business competition, Sentient Blue Technologies wants to make a “massive pivot” to Syracuse, Rome, and Central New York. “The center of gravity and the center of operations of the company will be here in Syracuse, in terms of research and development with the production, maintenance,” says
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SYRACUSE — With its win in the Genius NY business competition, Sentient Blue Technologies wants to make a “massive pivot” to Syracuse, Rome, and Central New York.
“The center of gravity and the center of operations of the company will be here in Syracuse, in terms of research and development with the production, maintenance,” says Saif-Deen Akanni, founder, CEO, and chief technical officer of Sentient Blue Technologies.
Genius NY stands for Growing ENtrepreneurs & Innovators in UpState New York.
Sentient Blue, an Italy–based firm with operations at the Tech Garden in Syracuse, plans to use its Genius NY prize funding to accelerate the development and production of its hybrid-power system for drones.
“We’ll need to basically be filing for some intellectual property protection in the form of patents. We’re going to be hiring more personnel right here in Syracuse and Rome. These are going to be engineering jobs and skilled-manufacturing jobs,” says Akanni, who spoke with CNYBJ after the April 9 Genius NY awards announcement.
Judges selected Sentient Blue Technologies as the grand-prize winner of $1 million in the third year of the Genius NY business-accelerator program at the Tech Garden. The company captured the top prize during the program’s “Finals Night” held at the Marriott Syracuse Downtown.
Sentient Blue develops “efficient, more environmentally friendly” micro gas turbine-based power plants for use in unmanned aerial vehicles (UAVs) to increase flight endurance, CenterState CEO says.
Besides Sentient Blue, four competing Genius NY companies each won $500,000.
The program, supported by Empire State Development Corporation, invested more than $3 million in the companies, “making it the largest business accelerator competition for the UAS industry in the world.”
UAS is short for unmanned-aircraft system. A UAS includes a drone and equipment used to control its flight. A drone is also referred to in the industry as an unmanned aerial vehicle, or UAV.
About Sentient Blue
Sentient Blue Technologies is working on a hybrid-power system for drones because, Akanni notes, most drones are “highly dependent” lithium-polymer batteries. Those batteries have “issues with energy density,” meaning that they can only fly for 30 minutes at a time before the operator has to replace or recharge the battery, Akanni tells CNYBJ. “A lot of the companies that are working with these throughout the working day, they need to take at least 10 batteries with them and a generator to recharge them. Our system is going to eliminate that,” he adds.
The system that Sentient Blue is developing will allow a drone to fly between two and four hours, depending on the design of the drone. The system will produce an increase in endurance and the flight times, says Akanni.
“We’re going to be decreasing the maintenance down time and increasing the reliability and safety,” says Akanni.
Sentient Blue has about 25 employees, about half of whom are full-time workers. The firm plans additional hiring in Syracuse and is working to establish additional operations at Griffiss International Airport in Rome, according to Akanni.
Besides Syracuse and its headquarters in Parma, Italy, Sentient also has operations in Washington, D.C.; the Netherlands; Berlin, Germany; and the United Kingdom.
$500K winners
The companies that were awarded $500,000 investments included ResilienX of Syracuse, a firm that is developing software to increase the resilience and reduce the maintenance costs of UTM systems.
This software will monitor the health and integrity of a system and will facilitate fault recovery if a problem is encountered.
UTM is short for UAS traffic management (UTM) platform.
EagleHawk of Buffalo provides a preventive-maintenance platform for commercial buildings with flat roofs. EagleHawk leverages drones equipped with infrared sensors to detect roof leaks “that are not evident to the naked eye,” according to CenterState CEO.
Vermeer of Brooklyn is an augmented reality drone product that “enables anyone” to capture aerial photos, videos, and data. A user can now design their aerial shot in an augmented reality environment and then send it to a drone to execute autonomously in the real world.
Additionally, CivDrone of Israel develops “fast, reliable and autonomous marking solutions” on enterprise drones for the construction industry. Digitalizing and automating land-surveying services will increase productivity and shorten time of construction while lowering its costs.
Bartell, Raymond executives are the latest to join MACNY Wall of Fame
DeWITT — MACNY is set to honor Patrick Morocco of Bartell Machinery Systems, LLC in Rome and Rick Harrington, who recently retired from the Raymond Corp. in Greene, as the 2019 inductees on its Manufacturers Wall of Fame. Their induction will be part of MACNY’s 106th annual dinner on May 23. The Manufacturers Wall of
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DeWITT — MACNY is set to honor Patrick Morocco of Bartell Machinery Systems, LLC in Rome and Rick Harrington, who recently retired from the Raymond Corp. in Greene, as the 2019 inductees on its Manufacturers Wall of Fame.
Their induction will be part of MACNY’s 106th annual dinner on May 23.
The Manufacturers Wall of Fame celebrates people who have “demonstrated long-term dedication to manufacturing in Central and Upstate New York,” MACNY — the Manufacturers Association of Central New York — said in a news release.
The organization will commemorate the induction of both Morocco and Harrington with a plaque on the Manufacturers Wall of Fame at MACNY headquarters, the association said.
Morocco and Harrington will represent the 19th class of members inducted into the Manufacturers Wall of Fame, joining a group of manufacturing leaders who have been honored since the Wall of Fame’s inception in 2001.
“The Wall of Fame selection committee is pleased to announce Pat and Rick as our 2019 Inductees into the Manufacturers Wall of Fame,” Randy Wolken, president & CEO of MACNY, said in the release. “Bartell Machinery and the Raymond Corporation are two outstanding manufacturers, and it is no coincidence that Pat and Rick have been integral to their success. Their ability to lead through the many changes and challenges of manufacturing is a testament to their leadership skills. On behalf of the Wall of Fame selection committee and the entire manufacturing community, I would like to congratulate Pat and Rick on this well-deserved induction into the Manufacturers Wall of Fame. We look forward to honoring their dedication to manufacturing and their achievements at MACNY’s 106th annual dinner.”
Besides their work accomplishments, both men are also part of the MACNY board of directors. Morocco serves as vice chairman of the MACNY board, while Harrington is a board member.
MACNY expects more than 600 business and community leaders to attend its annual dinner and Wall of Fame induction ceremony, which is set for May 23 at the SRC Arena and Events Center on the campus of Onondaga Community College.
About Morocco
Since graduating from the U.S. Naval Academy, Morocco has spent more than three decades in executive leadership for both private and publicly held domestic and international companies.
Morocco has served as president of Bartell Machinery Systems since 2013. The company specializes in the engineering, design, and manufacturing of industrial-machinery systems.
As president, Morocco “places a priority” on safety, employee engagement, and “fostering a positive work environment to promote innovation, leadership development, and career advancement opportunities,” MACNY said.
During his tenure, Bartell has produced year-over-year “record” results and expanded its market presence in China, India, Brazil, and the Middle East.
Jeffrey DiOrio, VP of finance at Bartell Machinery, nominated Morocco for the honor.
“Pat is an inspirational leader who truly cares for his fellow Bartell employees. He sees us all not only for who we are, but for the potential each of us has to become greater. Pat has a sincere and deep concern for our well-being and safety, and works tirelessly to make sure that Bartell is both a safe and fun place to work,” DiOrio said.
About Harrington
Harrington joined the Raymond Corporation in 1983 and served the company for more than 30 years.
Harrington in February retired from his position as senior VP of operations — a role he took on in 2015. He previously served as VP of U.S. manufacturing, and prior to that, as VP and general manager for the Raymond Corp.’s Greene operations group.
Harrington is also credited with helping to form Raymond’s “vision for the future of manufacturing,” per the MACNY release.
Under the mentoring of Toyota’s Sadao Nomura, Harrington has led the Toyota production system (T.P.S.) and lean-manufacturing initiatives at the Raymond Corporation. The Greene facility has been recognized as a three-time winner of the Frost and Sullivan award for Manufacturing Leadership; the IndustryWeek award for Best Plants; and the Toyota Presidents Award.
In addition, Harrington is also a guest lecturer for the operations and strategy classes held at Binghamton University.
Lou Callea, VP and general counsel for Raymond, nominated Harrington.
“With a passion and drive for manufacturing excellence, Rick looks to inspire the future manufacturing workforce and has been a game-changer in our industry, which makes him an outstanding candidate for MACNY’s Manufacturers Wall of Fame,” Callea said in his nomination letter, per the MACNY release.
New York’s annual egg production falls 4 percent in 2018
New York farms produced 1.66 billion eggs last year, down 4 percent from 1.72 billion eggs in 2017, the USDA’s National Agricultural Statistics Service (NASS) recently reported. The number of layers in the Empire State averaged 5.55 million in 2018, down 2 percent from the previous year. The total number of chickens on hand in
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New York farms produced 1.66 billion eggs last year, down 4 percent from 1.72 billion eggs in 2017, the USDA’s National Agricultural Statistics Service (NASS) recently reported.
The number of layers in the Empire State averaged 5.55 million in 2018, down 2 percent from the previous year.
The total number of chickens on hand in the state totaled 6.64 million birds, off 1 percent from a year prior, NASS said. The total value of all chickens on Dec. 1, 2018 was $19.2 million, up from Dec. 1, 2017.
Craft beer industry in New York state is booming
The craft beer industry in New York atate and Central New York is growing and making a big impact on area economies, thanks to consumer demand for craft brews like IPAs and state legislative and regulatory changes that have boosted sales. A new study funded by the New York State Brewers Association (NYSBA) found that
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The craft beer industry in New York atate and Central New York is growing and making a big impact on area economies, thanks to consumer demand for craft brews like IPAs and state legislative and regulatory changes that have boosted sales.
A new study funded by the New York State Brewers Association (NYSBA) found that the state’s craft beer industry generated $5.4 billion in economic impact in 2018. That’s up from roughly $2.5 billion in 2013, the last time the association did the study.
Paul Leone, executive director of Rochester–based NYSBA, says New York legislators have been receptive to making legislative changes that make it easier for craft brewers to grow.
The legislation included creating the farm brewery license in 2013, which allows craft brewers that use products grown in New York to operate similarly to farm wineries. The legislation allows farm brewers to open restaurants, conduct tastings of all farm produced beverages, and allows them to open five no-fee, off-site branch stores anywhere in the state, according to the governor’s office. Another law in 2016 expanded sales by the glass at breweries’ production facilities or off-site stores.
New York state now has 434 craft breweries, which is more than double from five to six years ago, according to the state. Leone says about one new craft brewery is licensed each week in the state.
“It is a business that feeds off itself. It does really well when multiple breweries open. The customer wants to try different craft beers. When you have multiple breweries in an area, that area becomes a destination,” he says. This is what has happened in Onondaga County, which now has 21 breweries.
The NYSBA report measured the number of jobs, wages paid to employees, and total output of New York’s 434 craft breweries. It documents the direct and ripple effects of the craft-beer industry in the Empire State and found the following:
• Total economic impact: $5.4B
o The combination of direct economic, supplier, and indirect economic impact.
• Direct economic impact: $3.5B
o The impact of the industry’s three segments: brewing, wholesaling, and retailing, in addition to the tourism impact of visitors to breweries and tap rooms.
• Supplier impact: $1.1B
o The production and sale of goods and services across a multitude of sectors, such as purchasing equipment and bottles, banking and marketing services, and government jobs for the regulation of craft beer-related businesses.
• Indirect economic impact: $771M
o The spending of wages earned by employees in the direct and supplier sectors, including dining at restaurants.
• Employment: 19,918 jobs
o The total number of jobs supported by direct, supplier, and indirect impact. New York’s craft-beer industry directly created 10,627 jobs, generating $722 million in wages.
• State and federal taxes: $545M
o The taxes paid by the businesses and their employees, as well as the excise and sales-tax revenues of in-state consumption.
• Licensed breweries: 434 breweries
o The number of craft breweries in New York state, which produced 2 million barrels of beer.
• Visitors: 48.6 million
o The number of customers served at New York state craft breweries, of which 8.9 million were tourists.
The New York State Brewers Association website (https://newyorkcraftbeer.com) details the economic impact by New York counties and by legislative district. Onondaga County has 21 breweries, 268 brewer jobs, 649 total jobs, $40.4 million total wages, and $144.4 million total output, per the study.
“I was really blown away by the results of this study,” Chris Ericson, president of NYSBA, said in an association news release. He is the owner of Lake Placid Pub & Brewery and Big Slide Brewery & Public House. “These numbers validate that New York state brewers have a substantial impact on the lives of residents. We are providing excellent careers for thousands of New Yorkers in every corner of the state,” he added.
The 2018 Economic Impact Study of the New York Craft Beer Industry was prepared by John Dunham & Associates (JDA). The NYSBA paid JDA $30,000 to produce the report, Leone says.
Founded in 2003, the New York State Brewers Association promotes New York state breweries. Leone is the first executive director of the trade group and was hired in 2013. He says his background is in TV production.
The membership fee to belong to NYSBA is about $250 per year, Leone says. Member dues are used to cover costs such as the study.
Bond, Schoeneck & King elects Eron and Galbato to management committee
Eron, a graduate of Cornell University (1982) and University of Chicago Law School (1987), is chair of Bond’s labor and employment law department. He exclusively represents private and public-sector management in labor relations, collective bargaining, employment law, and immigration matters. Eron supports his clients with employment-law counseling, training, and litigation-avoidance strategies in partnership with
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Eron, a graduate of Cornell University (1982) and University of Chicago Law School (1987), is chair of Bond’s labor and employment law department. He exclusively represents private and public-sector management in labor relations, collective bargaining, employment law, and immigration matters. Eron supports his clients with employment-law counseling, training, and litigation-avoidance strategies in partnership with their human-resource managers, executives, and general counsel, according to a Bond news release. He also works with employers on labor-agreement negotiations and contract grievance and arbitration proceedings. Eron is additionally an adjunct professor of labor law at Syracuse University’s College of Law.
Galbato, a graduate of Harvard University (1995) and Syracuse University College of Law (1998), is a litigation attorney who handles litigation throughout New York state courts and in federal courts across the country, including multidistrict and class-action litigation. She counsels and represents a variety of clients, including individuals, manufacturers, media companies, pharmaceutical companies, insurance firms, financial institutions, municipalities, not-for-profit organizations, small-business owners, school districts, and universities. Galbato is also co-deputy chair of Bond’s litigation department.
Oswego County nonprofits receive $270K in Shineman Foundation grants
OSWEGO — The Richard S. Shineman Foundation announced that it recently awarded 11 Central New York not-for-profit organizations serving Oswego County with $270,000 in awards in its first grant round of 2019. The awarded projects cover a wide range of focus areas, including community revitalization and preservation, education, health and human services, and arts and
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OSWEGO — The Richard S. Shineman Foundation announced that it recently awarded 11 Central New York not-for-profit organizations serving Oswego County with $270,000 in awards in its first grant round of 2019.
The awarded projects cover a wide range of focus areas, including community revitalization and preservation, education, health and human services, and arts and culture.
The funded projects will benefit Oswego County in a number of areas. The largest award, $150,000, was given to the Oswego Renaissance Association (ORA) representing the foundation’s continued commitment to assist the ORA in its sixth year of helping with reinvestment and improvement of city of Oswego neighborhoods, according to a Shineman Foundation news release.
Shineman provided other community revitalization grants to Fulton’s CNY Arts Center to assist with completion of final Phase 2 renovations, the Greater Oswego-Fulton Chamber of Commerce for revitalizing the Oswego and Fulton Farmers Markets, and the Sunrise Rotary Club of Oswego for its Leotta Park Pavilion project. Friends of Mexico Point Park also received a grant to help with the restoration of historic Casey’s Cottage.
In education, the Shineman Foundation awarded a grant to the H. Lee White Maritime Museum to assist with its multi-year capacity building project. The Children’s Board of Oswego received a grant for its Keepers of the Lighthouse event this July, which is a collaboration among numerous community organizations, the release stated.
The foundation also provided funding to Friends of Oswego County Hospice to promote its 30th anniversary of work in health and human services.
The Shineman Foundation also awarded arts and culture grants to the Art Association of Oswego for its 2019 Art Outreach program, the Oswego Players to build the capacity of its year-round Theater Arts Youth Academy, and to the Research Foundation for SUNY Art Department’s My Home Town project in collaboration with the city of Oswego and the Oswego City school district’s art teachers.
Bigham starts as CFO of Five Star Bank parent company
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently announced that it has named Justin K. Bigham executive VP, chief financial officer, and treasurer. Kevin B. Klotzbach, former company CFO and treasurer, was named executive VP, senior financial advisor, according to a Financial Institutions news release issued April 1.
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WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently announced that it has named Justin K. Bigham executive VP, chief financial officer, and treasurer.
Kevin B. Klotzbach, former company CFO and treasurer, was named executive VP, senior financial advisor, according to a Financial Institutions news release issued April 1. Klotzbach will stay with the company through the end of 2019 to help with the transition. He has been with Financial Institutions since 2001, when he joined as treasurer. Klotzbach was named CFO and treasurer in 2013.
“Today’s announcement is the culmination of a successful succession plan for the key CFO role. In March of last year, we communicated Kevin’s intent to retire in 2019. Following a national search, Justin joined us in October and was named EVP and Deputy CFO, reporting to Kevin,” Martin K. Birmingham, president and CEO of Financial Institutions, explained in the release.
Bigham has led the company’s finance and treasury operations over the past five months and was involved in its 2019 planning process, Birmingham added.
Bigham joined Financial Institutions from HealthNow New York, where he served as director of financial planning and treasury. Before that, he spent six years in senior positions at First Niagara Bank in both finance and business-line roles, following seven years within the finance division at M&T Bank.
Bigham earned a bachelor’s degree in business administration from St. Bonaventure University and is a certified public accountant.
Five Star Bank, based in Warsaw in Wyoming County, has more than 50 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Geneva (2), Seneca Falls, Elmira (2), and Horseheads.
MVCC’s Broadhurst named to NJCAA Foundation board of directors
UTICA — Gary Broadhurst, Mohawk Valley Community College’s associate dean of athletics (the college’s athletics director), was recently named to the newly formed National Junior College Athletic Association (NJCAA) Foundation board of directors. The foundation was formed to support the mission and initiatives of the NJCAA, the governing body of two-year college athletics based in
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UTICA — Gary Broadhurst, Mohawk Valley Community College’s associate dean of athletics (the college’s athletics director), was recently named to the newly formed National Junior College Athletic Association (NJCAA) Foundation board of directors.
The foundation was formed to support the mission and initiatives of the NJCAA, the governing body of two-year college athletics based in Charlotte, North Carolina. As the fundraising body for the association, the foundation seeks to enable additional opportunities for student-athletes and member colleges through scholarships, community service projects, and new initiatives.
The board of directors has 30 members who will serve a “vital role” in the financial support of the foundation and its long-term planning, oversight, and direction, according to a MVCC news release. Broadhurst is the only sitting athletics director selected to serve on the board.
In his 40th year at MVCC, Broadhurst directs its intercollegiate athletics programs. Under his leadership, the Hawks have captured 24 NJCAA national championships while finishing second another 18 times.
Broadhurst has received numerous awards during his career, including winning four “athletics director of the year” honors.
New York milk production rises nearly 3 percent in February
New York dairy farmers produced 1.16 billion pounds of milk in February, up 2.8 percent from 1.128 billion pounds in the year-ago period, the USDA’s National Agricultural Statistics Service (NASS) recently reported. Production per cow in the state averaged 1,850 pounds in February, up 2.5 percent from 1,805 pounds a year prior. The number of milk
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New York dairy farmers produced 1.16 billion pounds of milk in February, up 2.8 percent from 1.128 billion pounds in the year-ago period, the USDA’s National Agricultural Statistics Service (NASS) recently reported.
Production per cow in the state averaged 1,850 pounds in February, up 2.5 percent from 1,805 pounds a year prior.
The number of milk cows on farms in New York state totaled 627,000 head in February, up from 625,000 head in February 2018, NASS reported.
New York dairy farmers received an average milk price of $17.70 per hundredweight in February, up 20 cents from January and up $2.10 from February 2018.
In neighboring Pennsylvania, dairy farms produced 805 million pounds of milk in February, down 6 percent from 856 million pounds a year earlier, according to the USDA.
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