Strategic Financial Services, Inc., a leading independent wealth-management firm in Central New York, announced that Melissa Fernalld, senior advisor and partner, has earned the Certified
SYRACUSE, N.Y. — Syracuse University (SU) Chancellor Kent Syverud says SU isn’t planning mass layoffs or hiring freezes to deal with federal spending cuts announced since President Donald Trump took office back in January. Syverud recently updated SU’s University Senate on the school’s budget in response to federal spending cuts, per a Thursday announcement on
SYRACUSE, N.Y. — Syracuse University (SU) Chancellor Kent Syverud says SU isn’t planning mass layoffs or hiring freezes to deal with federal spending cuts announced since President Donald Trump took office back in January.
Syverud recently updated SU’s University Senate on the school’s budget in response to federal spending cuts, per a Thursday announcement on the school’s news website.
“We’re not going to have large-scale layoffs. We’re not going to have across-the-board hiring freezes. We’re not going to have deep budget cuts or other drastic measures in graduate programs,” Syverud said, per the announcement.
He went on to emphasize “that doesn’t mean that we don’t have to be responsible as we’ve been all year” in delivering a balanced budget.
“Basically, what we’ve been doing since August is asking every unit, school, and college to identify efficiencies and realign their resources in ways that really make sense. That doesn’t mean there won’t be any changes, but they’ll be more consistent with the changes we do every year at Syracuse University in landing the plane or at least have been doing for recent times.”
Syverud also noted that if SU had done nothing since last August, the school would be facing a 3 percent budget deficit.
“By the way, 3% translates into millions of dollars. But if we can’t handle a 3% budget deficit humanely as managers and as a community, we’re not a very effective financial community, I believe,” Syverud said.
In his remarks, Syverud mentioned that Johns Hopkins University in Baltimore, Maryland was laying off thousands of staff and instituting freezes of faculty hiring and graduate admissions.
“Really, I think you’ll see more of them, since a lot of academic institutions like to behave in a herd, and think behaving in a herd is the safe thing. I think you’ll see lots of institutions, including most of the AAU [Association of American Universities] doing things like this in the next couple of weeks,” Syverud said.
Syracuse will propose a balanced budget for fiscal year 2026, which it’ll submit to the board of trustees for approval, the chancellor added.
Karen Callahan, MSN, RN has been appointed the new chief clinical officer at Hematology-Oncology Associates of CNY (HOA). She will be overseeing all nursing, research,
UTICA, N.Y. — The New York State Nurses Association (NYSNA) announced nurses at Mohawk Valley Health System (MVHS) and Wynn Hospital reached a tentative contract
ITHACA, N.Y. — Firms interested in getting involved in the 7th round of the Grow-NY competition have until mid-May to apply. Empire State Development (ESD) says it’s now accepting applications for the food, beverage, and agriculture business competition. Organizers will select up to 20 “high-growth potential” food and agriculture startups from around the world as
ITHACA, N.Y. — Firms interested in getting involved in the 7th round of the Grow-NY competition have until mid-May to apply.
Empire State Development (ESD) says it’s now accepting applications for the food, beverage, and agriculture business competition. Organizers will select up to 20 “high-growth potential” food and agriculture startups from around the world as finalists and compete for $3 million in total prize money, per ESD’s March 3 announcement.
During the accelerator program, finalists will undergo a business-development phase, receiving dedicated mentorship from experienced entrepreneurs and introductions to potential regional partners. The Grow-NY region is a 22-county area spanning Central New York, the Finger Lakes, and the Southern Tier.
“The Grow-NY accelerator has been instrumental in attracting cutting-edge agribusiness companies from around the world and spurring private investment in the three targeted regions,” Hope Knight, president, CEO, and commissioner of Empire State Development, said in the announcement. “The seventh round will build on the foundational success of previous competition winners whose dynamic innovations and ideas are generating economic growth throughout Upstate.”
Grow-NY winners must commit to making a positive, measurable impact to the targeted region’s economies through job creation, strategic partnerships and other economic development activities. One grand-prize winner will receive $1 million, while two others will be awarded $500,000 prizes. Also, four more winners will take home $250,000 prizes.
Funding for Grow-NY is provided through New York State’s Upstate Revitalization Initiative’s three regional entities, including CNY Rising, Finger Lakes Forward and Southern Tier Soaring. The money is administered by Cornell University’s Center for Regional Economic Advancement.
The selected finalists will present their business plans to a panel of expert judges during the Grow-NY Summit on Nov. 12-13 in Canandaigua, in Ontario County. The event will also include a symposium of panel conversations and keynotes and a showcase of service providers for food and ag startups.
The program will also feature a student-stage portion in which middle-school and high-school students pitch their food and ag tech ideas, ESD noted.
Program history
Since the Grow-NY program launched in 2019, its winning startups have created new jobs and attracted millions of dollars of investment, ESD said.
The region is home to more than 40 percent of New York’s 30,650 farms and includes an abundance of fertile lands and fresh water. With major urban population centers such as Syracuse, Rochester, Ithaca, and Binghamton, the region also boasts research and development, education, and business resources that make it the “ideal place for startups to take root and grow,” ESD contends.
In Grow-NY’s first six years, more than 1,800 businesses in 44 unique states and 95 countries outside of the U.S. applied for the competition. In all, 117 startups have participated as finalists, with 42 winners sharing $18 million in startup funding in addition to the invaluable mentorship and networking benefits the program delivers to finalists.
Since competing in Grow-NY, past winners have continued to raise money, expand and succeed, ESD said.
Hempitecture, a $500,000 winner from the fourth round, is set to receive $8.42 million in funding from the U.S. Department of Energy to expand industrial hemp fiber processing and manufacturing capabilities in New York.
Through its partnership with Pat LaFrieda Meat Purveyors, fifth round winner Mush Foods has its 50CutTM burger available for more than 1,600 restaurants and food-service customers nationwide and is one of five startups to receive investments from Lever VC’s $50 million agrifood tech fund.
PureNanoTech, a sixth-round awardee, received a $250,000 grant from the New Jersey Commission on Science, Innovation and Technology shortly after winning $500,000 from Grow-NY.
“We’re thrilled to see Grow-NY startups validated by their customers, industry leaders, and investors,” Jenn Smith, program director for Grow-NY, said. “We see spectacular outcomes when startups join in where Upstate NY’s agrifood, innovation, and economic development communities converge, and we’re looking forward to seeing what this year’s application pool offers the competition.”
New orders, shipments decline Declines in the indexes for both new orders and shipments were again factors as the general business conditions index of the Empire State Manufacturing Survey plunged 26 points to -20 in March. In the past couple months, the index rose 18 points to 5.7
Declines in the indexes for both new orders and shipments were again factors as the general business conditions index of the Empire State Manufacturing Survey plunged 26 points to -20 in March.
In the past couple months, the index rose 18 points to 5.7 in February after sliding 15 points to -12.6 in January. The general business conditions index is the monthly gauge of New York’s manufacturing sector.
Based on firms responding to the survey, the March reading indicates business activity “dropped significantly” in New York state, the Federal Reserve Bank of New York said in its March 17 report.
A negative index number indicates a decline in the manufacturing sector, while a positive reading points to expansion or growth in manufacturing activity.
The March reading was much worse than economists expected. A Reuters survey of economists found a median forecast of -1.50 for the index for the month.
The Empire State Survey found the indexes for new orders and shipments both fell into negative territory at -14.9 and -8.5 respectively, the New York Fed said.
At the same time, optimism about the outlook “waned considerably” for a second straight month.
Survey details
The new-orders index fell 26 points to -14.9, and the shipments index slipped 23 points to -8.5 in March, indicating that both orders and shipments declined after increasing the prior month, the New York Fed said.
Unfilled orders held steady. The inventories index moved up 5 points to 13.3, its highest reading in more than two years, signaling that business inventories continued to expand.
The delivery-times index came in at 1.0 in March, and the supply-availability index was -1.0, suggesting delivery times and supply availability were little changed.
The index for number of employees held steady at -4.1, and the average-workweek index was -2.5, pointing to a slight decline in both employment and hours worked. Both price indexes climbed for a third straight month. The prices-paid index rose 5 points to 44.9, its highest level in more than two years, and the prices-received index rose 3 points to 22.4, its highest reading since May 2023.
Survey results also indicate that firms continued to grow less optimistic about the outlook.
After dropping 15 points in February, the index for future business activity fell another 10 points in March to 12.7. Capital-spending plans “remained soft.” Supply availability is “expected to contract somewhat” in the months ahead, the New York Fed said.
The Federal Reserve Bank of New York distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York. On average, about 100 executives return responses.
More leaders see a brighter future The index of Upstate Business Leader Confidence rose by 18 points from 60.8 to 78.8 this year, pointing to regional CEOs being more upbeat about future conditions. That’s according to the 18th annual Upstate New York Business Leader Survey that the Siena College Research Institute (SRI) released March 5.
The index of Upstate Business Leader Confidence rose by 18 points from 60.8 to 78.8 this year, pointing to regional CEOs being more upbeat about future conditions.
That’s according to the 18th annual Upstate New York Business Leader Survey that the Siena College Research Institute (SRI) released March 5. It’s sponsored by the Business Council of New York State, Inc, UHY Advisors, Inc., and Hudson Valley Economic Development Corporation.
However, the survey found that a majority (53 percent) of upstate New York CEOs surveyed say business conditions are worse (18 percent considerably, 35 percent a little) today than a year ago. In contrast, 17 percent say that New York’s economic conditions today as compared to a year prior are either a little (14 percent) or considerably (3 percent) better.
IMAGE CREDIT: SRI WEBSITE
The outlook for the future is a bit brighter as 31 percent of upstate New York CEOs (up from only 18 percent last year) expect business conditions in New York to improve over the coming year.
By comparison, 59 percent of upstate New York CEOs surveyed a year ago said that conditions had been worsening, while at that time, 17 percent (unchanged) thought that economic conditions had been improving.
Again, this year, only 11 percent of CEOs say New York’s government is doing an excellent or good job creating a business climate in which companies can succeed and only 15 percent are confident in the ability of state government to improve the business climate.
“Despite little faith in New York’s government,” upstate CEOs are more optimistic about business conditions this year, and expect a better 2025, Don Levy, director of the SRI, said in the survey report.
“Over half of CEOs call on Albany to cut spending and reform both business and personal taxation and of all the challenges they face, the ‘winner’ is governmental regulation,” Levy said. “Concerns over adverse economic conditions, supplier costs and global political instability have eased a bit as Trump, engendering more confidence among CEOs than Biden did, assumed the Presidency. As the new administration takes the reins, New York CEOs are more optimistic — albeit guardedly — towards the future than they were a year ago.”
The survey — completed immediately after the November election of Donald Trump as president — found a 22-point increase from 13 percent to 35 percent of CEOs now expressing confidence in the federal government’s ability to improve business conditions for New York companies.
The Siena College Research Institute conducted interviews with 533 CEOs of upstate New York companies/nonprofit organizations from Nov. 6, 2024 through Jan. 26, 2025. CEOs were from the following industry sectors: service (23 percent); manufacturing (14 percent); retail (12 percent); engineering and construction (11 percent); nonprofit (9 percent); food and beverage (8 percent); wholesale/distribution (7 percent); financial (6 percent); health care (5 percent); tourism (3 percent); and technology (2 percent).
CEO sentiment
Each year, SRI computes an Index of Business Leader Confidence based on four questions in which CEOs assess the economy of New York, both current and future, as well as the current and future conditions in their industry.
An index score of 100 represents a breakeven point at which optimism and pessimism are balanced. Two years ago, the upstate index was at 68.8. Last year, the index fell to 60.8. Today the index is up to 78.8.
Today’s overall index is “up significantly” from last year and is the highest index SRI has recorded since 2018. The current component of the index, measuring CEO assessment of current/recent past economic conditions is 65, up 9.1 points from last year — driven not so much by improvement but rather by a lessening in the percentage of CEOs that say conditions have worsened.
The future index, measuring CEO outlook on state and industry conditions over the coming year stands at 92.5, an increase of nearly 27 points and nearing the point at which optimism is balanced with pessimism among all CEOs. This boost in future confidence has been most responsible for the overall 18-point rise, per SRI.
Looking to the next three to five years, CEOs expect several sectors to have a positive impact on the economic vitality of their geographic region. Topping the list, 55 percent cite technology followed by manufacturing (41 percent), tourism (40 percent), education (39 percent), and medical (39 percent).
Sixty percent (up from 56 percent a year ago) think that their company will be in business in New York 10 years from today. Still, only 43 percent, down from 45 percent last year, say that if they had it to do all over again, considering all factors, that they would locate their business in New York rather than someplace else.
Asked to sum up their appraisal of current business conditions in New York state, 30 percent of CEOs say they are staying the same; 4 percent getting better but a large majority, 66 percent, say that they are getting worse. All are “virtually unchanged” from a year ago.
Locally, the assessment is “somewhat better.” A majority describe business conditions in their local area as staying the same (46 percent) or getting better (7 percent) while 47 percent say that they are getting worse. Again, it was unchanged from a year prior.
“While there is a slight increase in optimism among CEOs since last year, the overarching theme continues to be one of concern for the fragility of our economy and the uncertain business climate,” Heather Mulligan, president & CEO of the Business Council of New York State, said in the SRI report. “The survey results confirm the sentiment that New York is increasingly unaffordable, and our elected leaders are doing little to address this or create a better business climate. We hope that the legislature and policy makers will be responsive to the employers and job creators in their districts and reverse the cycle of enacting policies that negatively impact our state’s workforce and economy.”
Projections
The SRI survey found 38 percent (up from 29 percent) of business leaders expect their revenues to grow over the course of 2025, and 22 percent (down from 33 percent) anticipate declining revenues.
It also found 28 percent (up from 21 percent) anticipate increasing profitability. Thirty percent (down from 43 percent last year) predict decreasing profitability. Consistent with increasing overall confidence, Upstate CEOs believe revenues and profits will increase at greater rates this year as compared to last.
More than one-third (38 percent) of CEOs say that they will focus on market and demand growth this year to enhance profitability, while 22 percent (down from 31 percent) will focus on price increases. It appears that easing price increases will contribute to softer inflationary pressures, per the SRI.
This year, 58 percent of CEOs (up from 50 percent) intend to invest in fixed assets for their company designed to meet growing demand, reduce costs, or enhance profitability. This is the highest rate of intended fixed-asset acquisitions that SRI researchers have seen since prior to the pandemic. At least 50 percent of CEOs plan to invest across all industry sectors. In both manufacturing and engineering/construction, 70 percent now plan to make investments in fixed assets, the report found.
Asked about the challenges that they face, at least 50 percent of all CEOs cited barriers that include adverse economic conditions (50 percent, down from 58 percent last year); governmental regulation (61 percent, down from 65 percent last year); health-care costs (55 percent, virtually unchanged); taxation (55 percent, unchanged from last year); and rising supplier costs (48 percent, down from 56 percent last year).
Workforce
The Siena College Research Institute survey found 29 percent (unchanged from last year) of CEOs plan to increase the size of their workforce this year.
It also found 76 percent of CEOs (down from 80 percent) say they’re not seeing an “ample supply of local workers that are appropriately trained” for their employment needs. Only 19 percent of respondents believe that a trained worker supply is available. The numbers are slightly improved from the last three years but “considerably worse” than four years ago when the numbers were 28 percent and 61 percent, respectively.
About two-thirds (66 percent) of CEOs (down from 75 percent a year ago) continue to say that they’re having difficulty recruiting to fill open positions. That measurement of having difficulty filling open positions remains highest in engineering/construction (86 percent) and manufacturing (75 percent).
The survey also found 25 percent (down from 33 percent last year and off from 38 percent two years ago) say they’re having difficulty retaining existing employees.
Still, many CEOs are taking a series of steps to both recruit and retain employees. SRI says it detects “slightly less pressure” on CEOs to accommodate the demands of workers to recruit and retain.
Asked to assess the quality of job applicants on a series of skills and attributes, CEOs again provide a “predominantly negative” assessment. The survey also found only 22 percent of upstate CEOs rate as excellent or good the overall efforts in their area to promote workforce development.
Nearly one-third of upstate New York business leaders indicate that their own company plays the biggest role in workforce development. Another 31 percent credit local community colleges while fewer than 10 percent say that major employers, state government, or business groups are taking the lead in workforce development.
Nearly two-thirds (64 percent) say that it is at least somewhat likely that their company would actively participate in a workforce-development partnership program involving local educational institutions, local or state government, and companies like their own.
Artificial intelligence
The SRI survey also found 72 percent of CEOs say they’re either very (15 percent) or somewhat (57 percent) familiar with artificial intelligence (AI).
The report also indicated that 37 percent say that their company currently utilizes AI. Utilization is greatest in the nonprofit (66 percent). financial (61 percent), and manufacturing (42 percent) sectors.
Of those that use AI, 76 percent say it has increased efficiency, 36 percent cite consumer-outreach benefits, and 15 percent credit AI with growth.
UTICA, N.Y. — The Mohawk Valley Community College (MVCC) Foundation recently appointed three new members to its board of directors. The new board members are Claire T. Parisi, Amy DeMetri, and Stephanie Davis-Clark, the college said in its announcement. The foundation plays a vital role in generating alternative revenue to help MVCC while board members
UTICA, N.Y. — The Mohawk Valley Community College (MVCC) Foundation recently appointed three new members to its board of directors.
The new board members are Claire T. Parisi, Amy DeMetri, and Stephanie Davis-Clark, the college said in its announcement.
The foundation plays a vital role in generating alternative revenue to help MVCC while board members guide fundraising efforts that enhance the student experience and expand opportunities for the college to grow and innovate, the college noted.
Claire Parisi
Parisi, a 2018 MVCC graduate, is an electronics engineer at the Air Force Research Laboratory (AFRL). She holds a master’s degree in electrical and computer engineering from Northeastern University and a bachelor’s degree in electrical engineering from Clarkson University, in addition to her an associate degree in engineering science from MVCC. In her role at AFRL, Parisi has spearheaded key collaborations between academic and industry to develop innovative communication solutions, MVCC said. She also supports program administration by coordinating industry engagement events and conducting source-selection analysis to guide proposal evaluations.
Amy DiMetri
DeMetri brings nearly 40 years of experience in the financial industry to her position on the board. She retired in December 2023 from her role as executive VP at First Source Federal Credit Union. DeMetri is a certified financial planner and graduate of the Leadership Mohawk Valley civic-leadership training program. She is currently pursuing an associate degree in business management at MVCC.
Stephanie Davis-Clark
Davis-Clark, a 1999 MVCC graduate, is a credentialing specialist II at Excellus BlueCross BlueShield. She holds an associate degree in paralegal studies from MVCC, a bachelor’s degree in health-care administration management from Southern New Hampshire University and is currently pursuing a master’s degree in organizational leadership there. Davis-Clark is a 2023 graduate from MVCC’s Neighborhoods Rising program.
Established in 1966, the Mohawk Valley Community College Foundation works to secure private-sector support to supplement and enhance public funding at MVCC. As a 501(c)(3) organization, the foundation solicits, accepts, manages, invests, and distributes contributions and communicates with donors and prospective donors. It serves as the repository for all private, non-governmental gifts, and support for the college. In 2024, the foundation raised $1.49 million in donations and awarded 411 scholarships totaling $459,635 to 208 MVCC students.
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