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Martin Felicia III, CPA, has been promoted to tax supervisor at FustCharles, a downtown Syracuse–based professional services firm providing audit, tax, and advisory services to

Elizabeth Stoddard

People on the Move

Elizabeth K. Stoddard, CPA, has been promoted to tax supervisor at FustCharles, a downtown Syracuse–based professional services firm providing audit, tax, and advisory services to

Alcoa signs new power-supply pact with NYPA for Massena plant

Energy, Environment & Sustainability, Law, Accounting & Taxes, Manufacturing & Engineering, North Country, Subscriber Only

MASSENA, N.Y. — One of the North Country’s largest employers has a new power-supply contract with the New York Power Authority (NYPA). Alcoa Corp. (NYSE: AA) signed the deal for its Massena smelting-plant operations in St. Lawrence County. Alcoa — an aluminum producer — is based in Pittsburgh, Pennsylvania. The pact includes a commitment of

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MASSENA, N.Y. — One of the North Country’s largest employers has a new power-supply contract with the New York Power Authority (NYPA).

Alcoa Corp. (NYSE: AA) signed the deal for its Massena smelting-plant operations in St. Lawrence County.

Alcoa — an aluminum producer — is based in Pittsburgh, Pennsylvania.

The pact includes a commitment of $30 million in capital investments and supports 500 jobs at Alcoa’s Massena plant for the next 10 years, the office of Gov. Kathy Hochul announced on Oct. 22.

In addition to the contract, Alcoa is investing nearly $60 million through 2028 to rebuild and modernize a portion of the Massena facility.

This investment is made possible by the new energy contract as well as a $5.2 million capital grant and $1 million in Excelsior Jobs Program tax credits from Empire State Development (ESD). This improvement will “enable process stability and operational efficiency,” Hochul’s office said.

The Oct. 22 announcement of a signed contract by Alcoa and NYPA follows approval of the final agreement’s terms by the Power Authority’s board of trustees and Gov. Hochul.

“By securing good paying jobs and fostering investment, this agreement ensures Alcoa will continue to be a major presence in Massena while supporting New York families and communities,” the governor said in the announcement. “The aluminum manufacturing industry has played a significant role in the nation’s economic development, and New York’s Alcoa facility has been at the forefront, driving economic growth and opportunity in the North Country.”

The contract includes a 240-megawatt (MW) allocation of low-cost power through NYPA’s Preservation Power program to Alcoa for its Massena plant. This power allocation will support Alcoa’s operations through March 31, 2036, with options for two additional five-year extensions, contingent on maintaining a minimum of 500 full-time equivalent jobs and increased capital investments.

“Alcoa has been a vital part of the North Country economy for more than 120 years. With Governor Hochul’s support, this new contract with one of the Power Authority’s oldest customers secures essential jobs and significant capital investments in the region,” Justin Driscoll, president and CEO of the New York Power Authority, said. “We are proud to continue our partnership with Alcoa and to support their growth and investment in the community.”

Alcoa has also agreed to invest a minimum of $30 million in the plant’s operation over a period of 10 years. If market conditions permit, Alcoa may extend the contract an additional 10 years, which would foster capital investments totaling $145 million over a 20-year period.

“We are proud to make aluminum in New York and the United States. Long-term, competitively priced energy enables Alcoa to proceed with this important investment that will help us meet the demands of today while planning for tomorrow,” William Oplinger, president and CEO of Alcoa, said in a separate announcement on the company’s website. “We are extremely pleased to have worked with NYPA and ESD to achieve this outcome for our Massena Operations, which will bring economic benefits to the region and sustain American manufacturing.”

The contract provisions build on a seven-year agreement approved by NYPA in 2019. The 2019 agreement provided 240 MW of low-cost St. Lawrence-FDR hydropower in return for Alcoa’s commitment to retain 450 jobs at the aluminum company’s smelting plant in Massena. 

Downtown Committee fall progress event wraps 50th anniversary year

Subscriber Only, Construction, Design & Real Estate, Employee Benefits & Human Resources, Nonprofits, Small Business, Sports, Entertainment & Tourism

SYRACUSE, N.Y. — The Downtown Committee of Syracuse, Inc. used its fall progress breakfast to conclude its 50th anniversary celebration. The event was held Thursday morning, Oct. 23, at the Marriott Syracuse Downtown and included three speakers who discussed history and storytelling. The progress-breakfast series — held twice a year — aims to “leave attendees

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SYRACUSE, N.Y. — The Downtown Committee of Syracuse, Inc. used its fall progress breakfast to conclude its 50th anniversary celebration.

The event was held Thursday morning, Oct. 23, at the Marriott Syracuse Downtown and included three speakers who discussed history and storytelling.

The progress-breakfast series — held twice a year — aims to “leave attendees feeling invigorated and more connected” to downtown Syracuse. This year’s event marked the conclusion of the Downtown Committee of Syracuse’s 50th anniversary celebration.

“Reflecting on the history of Downtown has provided valuable insights into not only the current landscape of Downtown Syracuse but also how we have leveraged these elements to create a truly exceptional district,” the Downtown Committee said in its announcement.

The progress breakfast speakers included Natalie Stetson, executive director of the Erie Canal Museum. In her remarks, Stetson discussed how the Erie Canal flowed directly through Syracuse two centuries ago (occupying what is now known as Erie Boulevard) and how it played a pivotal role in shaping downtown Syracuse.

Those gathered at the fall progress breakfast also heard from Robert Searing, curator of history at the Onondaga Historical Association (OHA), who led a virtual walking tour through downtown Syracuse, providing an understanding of the downtown district and its history.

In addition, Katrina Tulloch, editor of Syracuse.com’s life and culture department and editor-in-chief of This is CNY, discussed how she embraces storytelling to engage audiences of all ages and “create a meaningful impact” in downtown Syracuse, per the Downtown Committee announcement.

“As an organization whose mission is Downtown’s revitalization and continued vibrancy, today’s presentation was truly inspiring,” Merike Treier, executive director of the Downtown Committee of Syracuse, Inc. said. “It highlighted the vision and collaboration that have driven the evolution of Downtown Syracuse and will undoubtedly continue to do so.”

The Downtown Committee partners with National Grid (NYSE: NGG) in presenting the Progress Breakfast Series. Presenting sponsor National Grid is one of the largest investor-owned energy companies in the U.S., serving more than 20 million people throughout New York and Massachusetts.

“National Grid understands the value of a thriving city center, that’s why our commitment to Downtown Syracuse remains strong. We take pride in supporting local businesses and working with partners like the Downtown Committee of Syracuse who create initiatives that support Downtown Syracuse,” Alberto Bianchetti, CNY regional director, external affairs for National Grid and a Downtown Committee board member, said in the announcement.

The fall progress breakfast also included distribution of the “Revitalize Syracuse 2025” edition of The Central New York Business Journal, which served as a media partner for the event. Other sponsors of the breakfast included community sponsor: Canandaigua National Bank, and corporate sponsors: AmeriCU, CXtec, FustCharles, and Tompkins Community Bank.

The nonprofit Downtown Committee of Syracuse describes itself as a professional downtown-management organization representing all property owners and tenants within the central business district. The Downtown Committee says it undertakes programs to improve downtown’s image, strengthen its economic base, increase its attractiveness, and ensure that it’s clean, safe, and accessible.

NYSDOT to spend over $600M on road-paving projects in 2026

Construction, Design & Real Estate, Energy, Environment & Sustainability, New York News, Subscriber Only

ALBANY, N.Y. — New York State is set to spend more than $600 million on over 180 paving projects statewide that are set for completion in 2026. That includes $25.3 million for eight projects in Central New York, $37.6 million for 15 projects in the Mohawk Valley, $59.6 million for 18 projects in the Southern

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NIH awards Bassett Research Institute multimillion dollar grant

Health Care, Employee Benefits & Human Resources, Mohawk Valley, New York News, Southern Tier, Technology

COOPERSTOWN, N.Y. — The National Institutes of Health (NIH) has awarded the Bassett Research Institute’s Center for Rural Community Health a multi-year grant to study

NOCO continues installing energy efficient lighting at 45 Tops stores

Construction, Design & Real Estate, Energy, Environment & Sustainability, New York News, Small Business, Subscriber Only

SYRACUSE, N.Y. — The Energy Solutions team at NOCO is working to install energy-efficient lighting at 45 stores of Tops Friendly Markets throughout New York state. NOCO is an energy company based in Tonawanda that has a local office at 1300 Wolf St. in Syracuse. The installation project, which started back in February and is

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SYRACUSE, N.Y. — The Energy Solutions team at NOCO is working to install energy-efficient lighting at 45 stores of Tops Friendly Markets throughout New York state.

NOCO is an energy company based in Tonawanda that has a local office at 1300 Wolf St. in Syracuse.

The installation project, which started back in February and is now more than halfway complete, includes converting all interior and exterior lighting to LED (light-emitting diode.), per the company’s Sept. 30 announcement.

Once these lighting upgrades are completed later this year, NOCO and Tops estimate annual savings of more than 16 million kilowatt hours or about $1.6 million on electricity costs.

“At Tops, we are deeply committed to sustainability and responsible energy use, and this partnership with NOCO is another step forward in reducing our environmental footprint while enhancing our in-store experience,” Ron Ferri, president of Tops Markets, said in the NOCO announcement. “The transition to energy-efficient LED lighting not only supports our long-term operational goals but also helps us create a brighter, more welcoming environment for our customers and associates. We’re proud to lead with initiatives that deliver real impact for our communities and the planet.”

The project in the impacted stores involves new lighting in customer-facing, backroom, and loading dock areas, including coolers, freezers, and deli cases.

With this current project, Tops is responsible for paying about 36 percent of the total $4.7 million project cost, offsetting the remaining balance with available energy incentives and rebates through utility-efficiency programs in the geographic areas where the stores are located.

“If you run a business, there are always factors outside of your control and rising electric prices are one of them, with no end in sight to continued rate increases,” Michael Casciano, president and COO of NOCO, said. “NOCO is committed to helping businesses optimize their energy usage while also reducing their energy costs. While Tops is already starting to see the cost benefits of their lighting conversion, these upgrades have also enhanced the quality of light within the stores, creating a more comfortable and appealing environment for their customers and employees.”

Since 2019, Tops has been working to retrofit stores to LED lighting in addition to converting its parking lot lights and fuel station canopies across the chain’s footprint to LED fixtures to reduce energy consumption. When the lighting conversion is completed at these 45 Tops stores, about 121 of the grocer’s stores will have been upgraded.

In recent years, Tops has reduced its electric consumption by 11.5 percent with various energy-saving initiatives involving mostly LED lighting, NOCO said.

NYS home sales flat in September but pending sales jump

Construction, Design & Real Estate, Banks & Credit Unions, Small Business, Sports, Entertainment & Tourism, Subscriber Only, Technology

ALBANY, N.Y. — Realtors in New York state closed on the sale of 9,697 previously owned homes in September, virtually unchanged from the 9,694 homes they sold in the year-earlier month. However, pending sales increased more than 7 percent in the ninth month of 2025, possibly foreshadowing a rise in closed sales in the next

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ALBANY, N.Y. — Realtors in New York state closed on the sale of 9,697 previously owned homes in September, virtually unchanged from the 9,694 homes they sold in the year-earlier month.

However, pending sales increased more than 7 percent in the ninth month of 2025, possibly foreshadowing a rise in closed sales in the next couple of months. That’s according to the New York State Association of Realtors’ (NYSAR) September housing report issued on Oct. 23.

“Key indicators such as new listings and pending sales increased in September while housing inventory across New York escalated for the seventh consecutive month,” NYSAR said to open the housing report.

Mortgage rates showed signs of moving lower heading into the fall. NYSAR cited Freddie Mac as indicating the average 30-year fixed rate at 6.35 percent in September 2025, down from 6.59 percent in August 2025. A year earlier, in September 2024, the average 30-year rate stood at 6.18 percent. Freddie Mac is the more common way of referring to the Virginia–based Federal Home Loan Mortgage Corporation.

New York sales data

Statewide housing inventory reached 31,267 units in September, a 4.1 percent increase from September 2024’s total of 30,035 available homes. This marks seven straight months of increasing housing inventory statewide, NYSAR noted.

New listings of existing homes available for sale in the Empire State rose 5.5 percent to 13,564 this September from 12,858 in September 2024.

The months’ supply of homes for sale at the end of September stood at 3.5 months’ supply, up 3 percent from 3.4 months a year prior, per NYSAR’s housing report.

A 6 month to 6.5-month supply is considered a balanced market, the association stipulates.

Pending sales totaled 9,626 in September, a jump of 7.3 percent compared to the 8,972 pending sales in the same month in 2024, according to the NYSAR data.

Home sales prices across the Empire State continue to climb in the latest month. The median home sales price was $427,628 in September, up 3 percent from the $415,000 median price tag in September 2024.

All home-sales data is compiled from multiple-listing services in New York, and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.

DRI to help downtown Norwich get a new boutique hotel

Construction, Design & Real Estate, New York News, Small Business, Southern Tier, Sports, Entertainment & Tourism, Subscriber Only

NORWICH, N.Y. — The upcoming Principle Hotel, an $8.3 million boutique hotel in downtown Norwich, is among the projects that the community is developing as part of its funding award in the state’s Downtown Revitalization Initiative (DRI). Officials in Norwich held an Oct. 23 groundbreaking for the hotel. The Principle Hotel will have 61 rooms

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Officials in Norwich held an Oct. 23 groundbreaking for the hotel.

The Principle Hotel will have 61 rooms and include a rooftop lounge, restaurant, and event room, “so visitors can stay and enjoy the unique retail, dining and entertainment options in downtown Norwich,” the New York State Department of State said in an announcement.

The 12,000-square-foot property at 14-16 South Broad St., was once part of the SUNY Morrisville campus. It will soon become a boutique hotel that will include a dining area, lounge, conference room, fitness center, outdoor patio, and open courtyard with a fountain.

“This hotel represents far more than a new place to stay — it’s a cornerstone of our downtown’s rebirth,” Salvatore Testani, president and CEO of Commerce Chenango, said. “Together with the other DRI projects, it stands as a powerful sign of a healthy, growing, and optimistic Norwich.”

The Principle Hotel will have Americans with Disabilities Act (ADA)-compliant features, such as ramps, elevators, and four rooms with accessible bathrooms.

In addition to $3.3 million from the DRI, this project has received $2 million in funding from Empire State Development’s Restore New York initiative, which encourages community development and neighborhood growth through the elimination and redevelopment of blighted structures. The project was also funded through private investments.

“Norwich is building on its strengths and setting the stage for long-term success through its DRI projects, like this boutique hotel, which will allow people to stay overnight right in downtown Norwich,” New York Secretary of State Walter Mosley said. “Here in Norwich, this investment will breathe new life into downtown, by drawing visitors, sparking new business activity and creating lasting opportunities for residents and local entrepreneurs alike.”

Besides the hotel, other DRI projects in Norwich include rehabilitating both the Unguentine Building and the Heritage Building, improving two parks, and enhancing the American Avenue streetscape.

The City of Norwich was named the Southern Tier Region Downtown Revitalization Initiative winner for the fifth round in 2021.

“We are very excited about this project and what it means for the revitalization of downtown Norwich,” Norwich Mayor Brian Doliver said in the state’s announcement about the hotel. “This is an important first step in bringing new life to our city center and can serve as a cornerstone for future economic vitality.”

Visions FCU, SU launch financial-literacy program

Banks & Credit Unions, Education & Training, Employee Benefits & Human Resources, Nonprofits, Subscriber Only

SYRACUSE, N.Y. — Syracuse University (SU) is set to launch the Student-Athlete Financial Empowerment Program in January. It’s an initiative designed to prepare Orange student-athletes for long-term financial success during and beyond their college careers. The program will also be open to all SU students, the university said in its Oct. 20 announcement. SU’s Martin

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SYRACUSE, N.Y. — Syracuse University (SU) is set to launch the Student-Athlete Financial Empowerment Program in January.

It’s an initiative designed to prepare Orange student-athletes for long-term financial success during and beyond their college careers. The program will also be open to all SU students, the university said in its Oct. 20 announcement.

SU’s Martin J. Whitman School of Management, Syracuse University Athletics, and Visions Federal Credit Union are all teaming up to launch the program.

The program will provide financial-literacy education to more than 550 Syracuse student-athletes across all 20 varsity sports, as well as any SU student interested in enrolling. The school describes it as “among the first of its kind nationally in the post-NIL [name, image, and likeness] era.”

Students will take a for-credit course offered by Whitman School faculty. Through the course’s workshops, one-on-one guidance, and hands-on experiences, students will learn essential skills including budgeting, credit and debt management, investing, wealth protection, and career and post-college financial planning. Student-athletes will be able to leverage what they learn in the program to help them navigate NIL opportunities and tax implications, SU said.

“This partnership reflects our deep commitment to preparing student-athletes not only for success in competition, but also for success in life,” John Wildhack, director of athletics at Syracuse University, said in the school’s announcement. “By combining the Whitman School’s academic expertise with Visions Federal Credit Union’s industry knowledge, we’re equipping our student-athletes with the tools to make smart, confident financial decisions.”

Visions Federal Credit Union will serve as the exclusive financial education partner for the program. Its involvement ensures “consistent, personalized” support for all students, including student-athletes, while also aligning with the credit union’s mission to empower communities through financial wellness.

“At Visions, we believe financial empowerment is life empowerment,” Ty Muse, president and CEO of Visions Federal Credit Union, said. “Partnering with Syracuse Athletics and the Whitman School allows us to invest in the next generation of leaders, helping them build strong financial foundations that will serve them well beyond their playing days.”

The Martin J. Whitman School of Management will play a key role in the program’s academic integration, providing a for-credit academic experience to ensure students are able to learn the tools needed for “financial empowerment offered by Whitman’s nationally ranked expertise in finance and business education.”

“This collaboration exemplifies the best of what Syracuse University offers — an intersection of academics, practical and relevant experience, and community partnership,” Alex McKelvie, interim dean of the Whitman School, said. “We are proud to help our student-athletes develop the skills needed to thrive in a complex business world.”

The Student-Athlete Financial Empowerment Program is part of SU’s Champion ‘Cuse campaign, which is “dedicated to providing student-athletes with the resources, support, and opportunities they need to compete — and succeed — at the highest levels,” the school said.

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