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U.S. GDP growth revised up to 1.2 percent in first quarter
ROMBEL ON BUSINESS Business Journal of CNY The U.S. Commerce Department’s Bureau of Economic Analysis (BEA) today revised upward its first-quarter estimate of the nation’s

All-Star Alley & Tavern bringing bowling, games to Destiny USA
SYRACUSE — All-Star Alley & Tavern — a casual-dining restaurant offering bowling, games, and live music — has moved into the space that Revolutions previously occupied at Destiny USA. The venue was scheduled to hold a “soft opening” during Memorial Day weekend with a grand-opening event planned for June 9, says Matthew Johnson, All-Star’s general
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SYRACUSE — All-Star Alley & Tavern — a casual-dining restaurant offering bowling, games, and live music — has moved into the space that Revolutions previously occupied at Destiny USA.
The venue was scheduled to hold a “soft opening” during Memorial Day weekend with a grand-opening event planned for June 9, says Matthew Johnson, All-Star’s general manager. He spoke with CNYBJ on May 23.
The 55,000-square-foot facility will have televisions with “all major collegiate and professional sporting events,” Destiny USA said in a news release issued May 1.
The business will operate on the third level of Destiny USA’s Canyon area.
Agoura Hills, California–based Trifecta Management Group (TMG), a dining and entertainment venue-management firm, is managing All-Star Alley & Tavern.
All-Star represents Trifecta’s first entry into the New York market, says Johnson.
All-Star Alley & Tavern was working to fill more than 100 positions, and as of May 23, had hired about 90 of the employees it needed, according to Johnson.
“We have enough people to make sure we’re staffing the restaurant,” he adds.
As of May 23, crews had been preparing the space for about eight weeks.
DeWitt–based All Wall Builders, LLC handled the space-preparation work for the establishment.
Johnson says he doesn’t know what the cost was to prepare the space for operation.
Johnson, a Trifecta employee, is a Solvay native who has been working in the restaurant business for 20 years.
He previously worked at the TGI Friday’s location at Destiny USA, he says.
“We have a lot of control over what we do [at All-Star], so if we’re trying to do something and it doesn’t work, we can do something different,” he says.
Trifecta, he contends, is more concerned about what works in the Syracuse community.
“We do in this restaurant what we feel is best for the market and can help the community and really be a unique place for people to go,” says Johnson.
About All-Star
All-Star Alley & Tavern will offer “made-from-scratch” dining, two bars, “private VIP” areas, billiard tables, arcade games with a prize store, and televised sporting events, with more than 40 high-definition television sets throughout the establishment, and 24 Brunswick bowling lanes, “designed for all types of bowlers,” per the release.
The bowling lanes will have “all the latest in the modern-day bowling experience,” including 15-foot projection screens, couches, black light party-bowling experience, “state-of-the-art” scoring system and gutter bumpers for beginners.
The venue will have private spaces and can host events for guests up to 1,000 for corporate events, “teambuilding,” sports banquets, wedding parties, reunions, and other social events.

IPD Engineering opens office in Buffalo, hires two
SYRACUSE — IPD Engineering has opened an office in Buffalo’s Electric Tower to service clients and pursue work in Western New York. It also hired two engineers from the Buffalo area to operate the new office. IPD Engineering, based in Syracuse, provides heating, ventilation, and air conditioning; plumbing; fire protection; electrical and structural-design services. The
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SYRACUSE — IPD Engineering has opened an office in Buffalo’s Electric Tower to service clients and pursue work in Western New York.
It also hired two engineers from the Buffalo area to operate the new office.
IPD Engineering, based in Syracuse, provides heating, ventilation, and air conditioning; plumbing; fire protection; electrical and structural-design services.
The engineering firm is a sister company to VIP Structures and operates in 6,500 square feet of space between two floors at One Webster’s Landing, off Clinton Street in Syracuse.
IPD provides engineering work for projects ranging from hospitals, elementary and secondary schools, colleges and universities, office buildings, and industrial structures.
Buffalo office, hires
The company was aware of two “all star” engineers in the Buffalo market and “wanted to … duplicate what we had done in Syracuse” and contacted them, says Sam Cosamano, president and co-owner of IPD Engineering.
“We proposed a new office to them, and they are basically in charge of running that office,” says Cosamano.
The Buffalo location opened May 15.
IPD’s new hires include Charlie Raimondo, a project manager and mechanical engineer who has worked as an engineer for 16 years. The second hire is Jim Kinbaum, who also joined IPD as a project manager and electrical engineer. He’s worked as an engineer for 10 years.
When asked how IPD Engineering was familiar with its newest staff members, Cosamano indicated that “employees here knew them from previous employment with another employer.” He didn’t indicate where they previously worked.
Raimondo’s LinkedIn profile shows he worked as a mechanical engineer at GHD for the last year until this May, at IBC Engineering P.C. for the three years before that, and at M/E Engineering P.C. for nearly 12 years prior.
“They’re looking for opportunities in Western New York and we will support them here until they have their own staff … in that office,” he says of IPD’s new hires.
IPD’s Buffalo office can accommodate between 10 and 12 employees. Cosamano says they’ll hire based on the work that the office generates.
“I foresee a couple of employees in the near-term future,” he adds.
Verizon Communications is IPD’s “biggest client” in Western New York, as one of the new hires has handled work for that firm, according to Cosamano.
IPD also provided engineering work on a paper-mill project in Western New York “a few years ago.” It’s also worked with VIP Structures on other initiatives in that region.
“We just know that the Buffalo area is booming … We want to take part in that,” he adds.
When asked if IPD Engineering has plans for any other offices, Cosamano says he wants to see how the Buffalo location performs for “at least a year” before pursuing any new offices elsewhere.
Cosamano says he discovered the space in the Electric Tower was available by doing an Internet search, noting that he “loved it” from the first time he saw the building.
The space didn’t require any preparation work, other than purchasing some furniture, he adds.
IPD Engineering has considered opening other offices in the past but decided against it because engineers like to have an office close to where they’re working.
“We needed to have the right people in place and until now, we didn’t have that,” says Cosamano.
CNY projects
Locally, IPD Engineering was involved in the massive renovation project at the Marriott Syracuse Downtown, the former Hotel Syracuse, says Cosamano.
The firm also worked with Hueber-Breuer Construction Co., Inc. on a new milk-drying plant that Grober Nutrition built in Auburn, he adds.
“That was a very significant project for us. It had a lot of process engineering involved,” he says.
IPD will also provide “a piece” of the engineering work for the upcoming hospital project in Utica, according to the IPD president.
Besides Cosamano, the firm’s owners also include Sam Gramet, the company’s VP, and David Nutting, IPD’s CEO.
Cosamano describes IPD Engineering as a $5 million company.

St. Lawrence University receives $25 million gift, biggest in school history
CANTON — St. Lawrence University alumna Sarah Johnson and her parents, Charles and Ann Johnson, have donated a $25 million “unrestricted gift” to the school. The donation represents the “largest gift in the university’s 161-year history,” St. Lawrence said in a news release issued May 20. Sarah Johnson, who graduated from St. Lawrence in 1982,
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CANTON — St. Lawrence University alumna Sarah Johnson and her parents, Charles and Ann Johnson, have donated a $25 million “unrestricted gift” to the school.
The donation represents the “largest gift in the university’s 161-year history,” St. Lawrence said in a news release issued May 20.
Sarah Johnson, who graduated from St. Lawrence in 1982, is a member of the university’s board of trustees and co-chair of the university’s upcoming fundraising campaign. She is also a film producer.
She had previously provided $10 million for the school’s Johnson Hall of Science. That gift had been the school’s largest donation until now.
Dedicated in October 2007, the school says it was the first LEED gold-certified science building in New York. LEED is short for Leadership in Energy and Environmental Design.
The St. Lawrence release described the Johnson family as “leading American philanthropists in arts and education.”
“This extraordinary vote of confidence is a life-altering gift for St. Lawrence in its proportions and intentions and will allow the university to fund myriad priorities in people and programs,” William Fox, president of St. Lawrence University, said in the release. “The Johnsons believe in what makes this place so special, and their exceptionally generous giving helps advance St. Lawrence for today’s students and the generations to come.”
Charles Johnson is the retired chairman and president of Franklin Resources/Franklin Templeton Investments. Ann Johnson is a retired psychiatrist.
Enrollment gains
St. Lawrence also separately announced that it has exceeded its enrollment targets for the incoming Class of 2021 this fall.
“Although the total number of students who matriculate will not be final until the institutional census in September, enrollment is expected to be one of the institution’s largest class sizes in recent history,” the university said in a May 23 news release. More than 720 students made a deposit to ensure their spot in the incoming class, a record for the university and nearly five percent above its target.
Founded in 1856, St. Lawrence University is a private, independent liberal-arts institution of about 2,500 students located in Canton.
How To Stay Young in Retirement
Mohr Keet of South Africa bungee jumped when he was 96, landing himself in the Guinness Board of World Records. Yuichiro Miura of Japan climbed Mount Everest when he was 80. Not everyone in the golden years of life will attempt and accomplish such extraordinary feats, but most people can take steps to keep themselves
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Mohr Keet of South Africa bungee jumped when he was 96, landing himself in the Guinness Board of World Records.
Yuichiro Miura of Japan climbed Mount Everest when he was 80.
Not everyone in the golden years of life will attempt and accomplish such extraordinary feats, but most people can take steps to keep themselves young — at least in spirit — when they reach retirement.
Unfortunately, for many people retirement planning remains fixated on finances, so when the big day arrives they’re not quite ready to segue into life’s new chapter.
After you’ve planned for the money, you still may face anxiety about retirement. You don’t know what it’s like to not work and so there is that emotional part of retirement you need to manage. Sometimes people aren’t ready in any way, shape, or form for this big change.
Here are a few ways to hang onto a little youthful exuberance while aging gracefully in retirement.
• Be a lifelong learner. Making the effort to learn about new things keeps our brains young. Read something you wouldn’t normally read. Sit in on a lecture that a college opens to the public. Some of my clients mention they took classes in philosophy or in a foreign language. It’s proven that those who are lifelong learners have a greater sense of optimism and a lower chance of dementia.
• See the world — or at least some of it. No doubt, you have plenty of places you haven’t visited — some close by, and others far away. Traveling and enjoying new experiences is a great way to keep you feeling young and enthusiastic about life. It doesn’t matter whether you head to a state park just an hour’s drive away, or you board a plane bound for Paris. Part of the fun of traveling is deciding where you want to go. The sky should be the limit. Don’t eliminate anything from your initial list just because of expense. You may be able to find bargains, and because you’re retired you can travel any time you want, which allows you to go in the off season when prices are lower.
• Remember your doctor’s advice. Activities such as enrolling in a college class can help keep you mentally young, but you want your body to cooperate, too. We’re always looking for that magic bullet, the easy and quick way to feeling younger. The truth is that those things your doctor tells you — exercise, eat a healthy diet, get the appropriate amount of sleep — are about as close to a magic bullet as you’re going to get.
People think that money is the most important aspect of retirement, but it’s really No. 2. You can have more than enough money, but if you aren’t healthy or doing the things you enjoy, the money won’t matter.
Ann Vanderslice is president and CEO of Retirement Planning Strategies. Vanderslice (www.annvanderslice.com) holds the registered financial consultant designation from the International Association of Registered Financial Consultants and the chartered retirement planning counselor designation from the College for Financial Planning.

Syracuse Participants begin work in 2017 SBA Emerging Leaders class
SYRACUSE — Participants in this year’s class of the U.S. Small Business Administration (SBA) Emerging Leaders initiative have started their work. The SBA on May 4 announced this year’s class. The 16 local business owners, who the SBA says were “competitively selected,” include: Stephen Jocz, owner of Best in Bloom in DeWitt; Elizabeth Peterson, creative
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SYRACUSE — Participants in this year’s class of the U.S. Small Business Administration (SBA) Emerging Leaders initiative have started their work.
The SBA on May 4 announced this year’s class.
The 16 local business owners, who the SBA says were “competitively selected,” include: Stephen Jocz, owner of Best in Bloom in DeWitt; Elizabeth Peterson, creative director at Downtown Decorations Inc. in DeWitt; Tracy Foltz, president of Falk Precision Inc. in DeWitt; Neil Miller of Farmshed Harvest in Syracuse; Sandra Cirrincione, president of Solvay Electric Supply & Lighting in Solvay; Viktor Klyachko, president of Green Ignite Inc., Utica; Jaime Sweet, president and CEO of Hartman Enterprises, Inc. in Oneida; Matthew Holt, founder of Kishmish Inc. in Syracuse; Salvatore Lomedico of Sal’s Pizza & Restaurant in Baldwinsville; Ken Morse, principal at North Point Defense, Inc. in Rome; James Bogett with Omnicor Biomedical Services in Camillus; Jennifer Purtell with Quality Mechanical Services in Syracuse; Nate Beck of Rollingstar Mfg. Inc. in Barneveld; David Johnson, president of RP Solutions Inc. in Ithaca; Dana Scherzi, CEO of Scherzi Systems, LLC in DeWitt; and Erika Perez with SWANK in Hamilton.
The participants come from sectors that include manufacturing, retail, service and technology.
About Emerging Leaders
The program began on April 26 with the first class conducted by instructor John Liddy, entrepreneur in residence at The Tech Garden, and will continue through November.
Over a period of seven months of training classes, participants will work with mentors and develop connections with other business owners and community leaders, the SBA says.
Upon graduation, participants will exit the program with a strategic growth plan for their business, developed using the knowledge, skills, and techniques honed in the class.
The program, which the SBA describes as “intense,” provides more than 100 hours of advanced-management training.
It is a collaboration of the SBA Syracuse district office with CenterState CEO; CNY TDO; City of Syracuse Office of Neighborhood and Business Development; Onondaga County Office of Economic Development; Downtown Committee of Syracuse, Inc.; Manufacturers Association of Central New York; Onondaga Small Business Development Center; SUNY College of Environmental Science and Forestry; Syracuse SCORE; Syracuse University; the Falcone Center; Black Stone Launch Pad; Upstate Minority Economic Alliance; the Syracuse Tech Garden; and the WISE Women’s Business Center.
Participants begin work in 2017 SBA Emerging Leaders class
UTICA — The Greater Utica Chamber of Commerce’s showcase business event has a new name and format. Formerly known as the Community Business Expo, it will now be dubbed the Best in Business Showcase. The event will have an increased focus on business-to-business networking in a “more intimate setting,” the chamber said in a news
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UTICA — The Greater Utica Chamber of Commerce’s showcase business event has a new name and format.
Formerly known as the Community Business Expo, it will now be dubbed the Best in Business Showcase. The event will have an increased focus on business-to-business networking in a “more intimate setting,” the chamber said in a news release.
It’s set for Sept. 27, from 4 p.m. and 8 p.m., at the Radisson Hotel-Utica Centre at 200 Genesee St. in Utica.
The Utica Chamber is branding the newly re-named and “re-focused” Best in Business Showcase as the “biggest business after hours of the year.”
The organization contends the new format will allow the area’s “best” businesses to “showcase what they have to offer” to the business community, and the community-at-large.
The event is still open to the community, the chamber said. Chamber members, non-members, nonprofits, and restaurants can participate.
The chamber will produce the event in partnership with Poland, New York–based Kessler Promotions, Inc. Poland is located in Herkimer County.
“We are really excited to announce this newly formatted business showcase, putting emphasis on the importance of networking within the business community,” Meghan Fraser McGrogan, executive director of the Greater Utica Chamber of Commerce, said in the release. “We are hoping this new, intimate, business after hours-like format will help attendees conduct commerce that evening, and beyond. In order to encourage more attendance, we have also changed the hours from the afternoon to the evening, so it will be less likely to interfere with work schedules.”
Under the new format, the chamber says booth space is “limited.”
Upstate Venture Connect study reveals characteristics of emerging growth companies
SYRACUSE — A recent study commissioned by Syracuse–based nonprofit Upstate Venture Connect (UVC) has revealed some traits of high-growth companies in upstate New York’s innovation economy. UVC describes itself as “an entrepreneur-led nonprofit focused on building a region wide startup community” and seeks to connect upstate entrepreneurs with resources needed to succeed. To better understand
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SYRACUSE — A recent study commissioned by Syracuse–based nonprofit Upstate Venture Connect (UVC) has revealed some traits of high-growth companies in upstate New York’s innovation economy.
UVC describes itself as “an entrepreneur-led nonprofit focused on building a region wide startup community” and seeks to connect upstate entrepreneurs with resources needed to succeed.
To better understand the characteristics that fast-growth companies in the region have in common, UVC commissioned the Rochester–based Center for Governmental Research (CGR) to conduct an online survey among CEOs of such companies. The survey yielded 115 responses, and the data revealed the following:
• CGR describes the firms as “new and young.” Half of the respondent organizations had been operating for less than six years.
• The median company size was eight full-time equivalents (FTEs). Half of the respondents employ five or fewer FTEs.
• The companies were overwhelmingly national or global, as opposed to local, in their focus. Nine out of 10 had plans to compete for customers across the U.S. and/or globally.
• The companies represent a wide variety of industries. The 115 respondents were spread among 47 different industry sectors, ranging from technology to educational services to accounting. In an interview about the findings, Nasir Ali, co-founder and CEO of UVC, described this diversity of entrepreneurship in the region as “truly staggering.”
• The high-growth companies employ a highly educated workforce. Three-quarters of the respondents said that 80 percent or more of their positions require college degrees. Ali noted that this finding speaks to a key opportunity for Upstate with its large number of colleges and universities.
• The firms were spread throughout Upstate and did not conform to geographic clusters.
• Average annual pay per worker among the respondents ranged from $41,000 to $75,000.
• The respondents had aggressive growth plans. Collectively, they planned to create 9,600 jobs over the next five years.
Ali stated that the research findings will be used to inform UVCs ongoing efforts to increase connectivity across the region and nurture entrepreneurs. UVC plans to do follow-up research later in 2017 to learn more about high-growth firms, and some of the respondent companies will be featured as participants in the organization’s Venture Ecosystem Awards event in September.
New York milk production rises nearly 4 percent in April
New York dairy farms produced 1.27 billion pounds of milk in April, up 3.9 percent from the year-ago period, the USDA’s National Agricultural Statistics Service (NASS) recently reported. Production per cow in the state averaged 2,030 pounds in April, up more than 3 percent from 1,965 pounds a year prior. The number of milk cows
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New York dairy farms produced 1.27 billion pounds of milk in April, up 3.9 percent from the year-ago period, the USDA’s National Agricultural Statistics Service (NASS) recently reported.
Production per cow in the state averaged 2,030 pounds in April, up more than 3 percent from 1,965 pounds a year prior.
The number of milk cows on farms in New York state totaled 623,000 head in April, up 3,000 head from April 2016, NASS reported.
The average milk price received by New York dairy farmers in March 2017 was $18.60 per hundredweight, down 50 cents from February, but up $2.40 from a year ago.
In neighboring Pennsylvania, dairy farms produced 948 million pounds of milk in April, up 2.5 percent from a year earlier.
Community Bank System declares quarterly dividend of 32 cents
DeWITT — Community Bank System, Inc. (NYSE: CBU) recently declared a quarterly cash dividend of 32 cents per share on its common stock The dividend will be payable on July 10 to shareholders of record as of June 15. It represents an annualized yield of nearly 2.4 percent, based on the company’s current stock price.
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DeWITT — Community Bank System, Inc. (NYSE: CBU) recently declared a quarterly cash dividend of 32 cents per share on its common stock
The dividend will be payable on July 10 to shareholders of record as of June 15. It represents an annualized yield of nearly 2.4 percent, based on the company’s current stock price.
Community Bank System operates more than 230 branches across upstate New York, northeastern Pennsylvania, western Massachusetts, and Vermont through its banking subsidiary, Community Bank, N.A. It has total assets of about $11 billion.
Community Bank on May 12 closed on its acquisition of Merchants Bancshares, Inc., the largest statewide independent bank in Vermont, in a cash and stock transaction worth about $300 million.
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