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Economic impact of Binghamton University’s IEEC gets it another $10M in funding
VESTAL — New York expects organizations that hold the designation of New York State Center for Advanced Technology (CAT) to be “actively involved” with the effort to improve the state’s economy. That’s according to Daryl Santos, director of Binghamton University’s Integrated Electronics Engineering Center (IEEC). Santos is also a professor of systems science and […]
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VESTAL — New York expects organizations that hold the designation of New York State Center for Advanced Technology (CAT) to be “actively involved” with the effort to improve the state’s economy.
That’s according to Daryl Santos, director of Binghamton University’s Integrated Electronics Engineering Center (IEEC). Santos is also a professor of systems science and industrial engineering.
The IEEC contends it has produced an economic impact exceeding $1 billion, based on feedback from its partner companies dating back to 1994.
The center’s work has again paid off.
Empire State Development’s (ESD) Division of Science, Technology, and Innovation (NYSTAR) extended the IEEC’s designation for an additional 10-year term, Binghamton University said in a news release issued Sept. 30.
As a result of the re-designation, NYSTAR will provide the IEEC nearly $10 million in funding over the next decade. It represents IEEC’s second renewal as a CAT.
Santos says he was “extremely elated to learn about it.”
“We knew we had a very strong history of positive impact [on] local industry,” he says, noting the IEEC also works with companies outside New York as well.
He spoke with CNYBJ on Oct. 9.
Founded in 1991, the state has classified the IEEC as a CAT since the mid-1990s, the school said.
Since its founding, the IEEC has provided a more than 60-to-1 return on investment for New York, the university stipulates.
Annual reports
To maintain the designation and to prove it’s worthy of the state funding, the IEEC assembles an “extensive” annual report, says Santos.
The organization contacts its industrial partners and requests they submit a letter
“What this letter asks them to do is to make an assessment on how our relationship … has benefitted them,” he says.
The IEEC asks the partners to report the numbers of jobs that they may have created or retained as a result of working with the Center.
The benefit could also be tied to cost savings, he says.
“For example, maybe we helped them to identify and fix a reliability problem and that may have gone into some savings for them.”
The annual reports indicate IEEC and its partners have generated more than $1 billion in statewide economic activity, says Santos. The figure is compiled from reports submitted between 1994 and 2014, which are the latest figures available, the school said.
Partner companies attribute the “creation and retention of 1,890 jobs” to activity that Binghamton’s CAT has generated.
The IEEC is part of Binghamton University’s New York-designated Center of Excellence (COE) in small-scale systems integration and packaging (S3IP). It pursues research in electronics packaging in partnership with private industry.
The research that Binghamton University conducts with both large and small industries has led to “significant technological advances” in devices that are “smaller, faster and greener” than their predecessors, the school contends.
Current projects focus on topics such as cybersecurity, three-dimensional (3D) packaging, flexible electronics, power electronics, and batteries.
“We congratulate Binghamton and look forward to IEEC’s continued development of advanced electronics and cybersecurity for years to come,” Howard Zemsky, president, CEO and commissioner of Empire State Development, said in the Binghamton University release.
Declines in orders, shipments hurt New York manufacturers in October
New orders, shipments, and unfilled orders all declined at a “steeper pace” in October than in September, hurting manufacturers across New York. The Empire State Manufacturing Survey general business-conditions index registered a reading of -11.4, declining for a third consecutive month in October. However, the index did improve slightly from September’s -14.7 reading,
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New orders, shipments, and unfilled orders all declined at a “steeper pace” in October than in September, hurting manufacturers across New York.
The Empire State Manufacturing Survey general business-conditions index registered a reading of -11.4, declining for a third consecutive month in October.
However, the index did improve slightly from September’s -14.7 reading, the Federal Reserve Bank of New York reported on Oct. 15.
The index has generated readings below -10 for three consecutive months for the first time since 2009, the New York Fed said.
The latest survey found that 21 percent of respondents reported that conditions had improved over the month, while 33 percent said that conditions had worsened.
The new-orders index indicated an “ongoing” decline in orders, falling six points to -18.9, a “multi-year” low, and the shipments index fell 6 points to -13.6, the New York Fed said.
The unfilled-orders index dropped seven points to -15.1.
Delivery times were shorter again in October, with the delivery-time index falling 5 points to -11.3.
The inventories index rose 11 points to -7.6, indicating that inventory levels declined, though at a “somewhat slower” pace than in September.
The prices-paid index fell to 0.9, its lowest level since 2009, suggesting that input prices were “flat.”
The prices-received index edged down three points to -8.5, indicating a decline in selling prices.
Labor-market conditions “worsened,” the New York Fed said.
The index for number of employees fell for a fourth consecutive month, slipping 2 points to -8.5 in a sign that manufacturers cut staffing levels.
The average-workweek index remained negative at -7.6, pointing to shorter workweeks for existing manufacturing workers.
Indexes for the six-month outlook were “little changed” from last month, and suggested that optimism about future business conditions remained “muted.”
The index for future business conditions held steady at 23.4, and the indexes for future new orders and future shipments stayed at similar levels.
At 27.4, the index for future prices paid showed that input prices were expected to increase, and the future prices-received index, at 7.6, suggested that selling prices were also expected to rise.
The index for expected number of employees rose to 10.4, indicating that respondents expected some increase in employment levels in the months ahead.
The capital-expenditures index was “little changed” at 12.3, and the technology-spending index edged up to 5.7.
The New York Fed 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.
SBA backs more than $207M in upstate New York loans during FY 2015
SYRACUSE — The Syracuse district office of the U.S. Small Business Administration (SBA) backed more than $207 million in loans in its 34-county area during
Oswego County FCU to open new branch in Fulton early next year
FULTON — Oswego County Federal Credit Union (OCFCU) has announced plans to open a new branch office in Fulton. OCFCU expects to open the branch at 707 S. 4th St. (Rt. 481) in early 2016, William Carhart, CEO, said in a news release issued Oct. 23. The location has two drive-thru lanes and
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FULTON — Oswego County Federal Credit Union (OCFCU) has announced plans to open a new branch office in Fulton.
OCFCU expects to open the branch at 707 S. 4th St. (Rt. 481) in early 2016, William Carhart, CEO, said in a news release issued Oct. 23.
The location has two drive-thru lanes and a drive-thru ATM. The credit union said it will make major renovations to the structure, both inside and outside. The building is a former Bank of America branch and is located next door to a McDonald’s restaurant.
“We have great ties with Fulton, and we believe this new office will fit just right in the community,” Carhart said in the release.
OCFCU, chartered in 1975, said it has more than 10,000 members throughout the county. It currently has two branches in Oswego and one in Mexico.
OCFCU had more than $64 million in total assets, as of June 30, according to National Credit Union Administration data.
Soraa, LED lighting firm, to bring 420 jobs to DeWitt
DeWITT, N.Y. — Soraa, a firm that specializes in light-emitting diode (LED) lighting, has plans to relocate its manufacturing and research and development operations from
St. Joseph’s CEO: no new Legionella cases in last three weeks
SYRACUSE, N.Y. — St. Joseph’s Hospital Health Center has had “no new cases” of hospital-acquired Legionella in the last three weeks. That’s according to
TDO, Columbia College at Hancock Field launch partnership
SALINA, N.Y. — The Central New York Technology Development Organization (TDO) and Columbia College of Missouri-Hancock Field have launched a new partnership that provides students
HR Works relocates its Syracuse-area office
DeWITT, N.Y. — HR Works, Inc. has relocated its Syracuse-area office to 6390 Fly Road in the town of DeWitt. The new 1,760-square-foot office
Tops Markets announces executive-level promotions
WILLIAMSVILLE, N.Y. — Tops Markets has announced additional executive-level promotions following the Oct. 6 announcement of John Persons as the company’s new president and COO.
Cornell, SU part of group to use grant for entrepreneurship partnership
ITHACA, N.Y. — Cornell University, Syracuse University (SU), and three additional schools will use grant funding for a partnership focusing on entrepreneurship as a career
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