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Grow Broome Fund has up to $2M available for area small businesses
BINGHAMTON, N.Y. — The Grow Broome Fund has up to $2 million available for lending to eligible small businesses in Broome County. Launched in January,
Nurse admits to stealing drugs from Horseheads nursing home
HORSEHEADS, N.Y. — A nurse has pleaded guilty to stealing nearly 200 pills from elderly patients at the Elcor Nursing and Rehabilitation Center in Horseheads.
Ascenzi named 2015 Greater Baldwinsville Chamber Business Person of the Year
BALDWINSVILLE, N.Y. — Donna T. Ascenzi, who operates an accounting firm in the village of Baldwinsville, has been named the 2015 Greater Baldwinsville Chamber of
Judge rejects challenge to Lago Resort & Casino license
TYRE, N.Y. — A New York State Supreme Court judge has rejected the Finger Lakes Racing Board’s challenge to the state selecting Lago Resort &
Upstate University Hospital to use $1.5M state grant to expand HIV treatment programs
SYRACUSE, N.Y. — Upstate University Hospital in Syracuse will use a state grant of $1.5 million to develop and expand treatment programs for people infected
Associated Medical Professionals renovates primary clinical office
SYRACUSE — Associated Medical Professionals of NY, PLLC, is currently renovating part of its main clinical office in Syracuse, located at 1226 East Water St., after it freed up space by moving 45 administrative staff to a new corporate headquarters in the town of Salina earlier this summer. Its new headquarters is in an
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SYRACUSE — Associated Medical Professionals of NY, PLLC, is currently renovating part of its main clinical office in Syracuse, located at 1226 East Water St., after it freed up space by moving 45 administrative staff to a new corporate headquarters in the town of Salina earlier this summer.
Its new headquarters is in an office building at 100 Metropolitan Park Drive, in a space topping 8,000 square feet, according to Christopher Williamson, chief operating officer at Associated Medical Professionals (AMP).
AMP is a multi-specialty medical practice. It was established when three practices — Syracuse Urology Associates, P.C., Associated Urologists of CNY, and Syracuse Radiation Oncology — merged in 2008, according to the AMP website. It has since merged with six additional practices, Williamson says in an email, and has 12 locations across Central New York.
Establishing a new corporate headquarters for administrative staff was necessary because the space in the Syracuse location, which spans 37,000 square feet and housed both clinical and administrative departments, was maxed out, according to Williamson. Parking at the Syracuse office, which previously served as headquarters, was also at capacity.
The departments that comprise AMP’s business center — such as administration, operations, billing, accounting, human resources, and compliance — were moved to the Salina office and centralized, says Williamson. The information technology and electronic medical records departments remain at the Syracuse office, he adds.
As a result of the space freed up in Syracuse, AMP has doubled the size of its clinical research department — comprised of six staff with 40 active clinical trials — and is currently working to expand its laboratory and pathology department, Williamson tells CNYBJ.
The medical practice hired Syracuse–based CBD Companies, located at 125 East Jefferson St., to handle the renovations, which are expected to be complete by Sept. 1, according to Williamson.
AMP also needs to grow its clinical space for the urology, radiation, and imaging departments, he adds. The practice plans to bring in some new employees for the research department in the coming months, he adds. He couldn’t specify the number.
AMP entered into a five-year lease agreement with 100 Metropolitan Park, LLC, which owns the Salina building, without the use of a broker. The contract includes renewal options, according to Williamson, who declines to disclose financial terms of the contract.
The administrative office space required minor work before it was ready to be occupied, such as the installation of walls and doors, and some fresh paint, which the owner quickly completed, Williamson says. He did not disclose the exact cost of the work, but says it is partly built into the lease, with the rest covered through a mix of cash and financing.
Williamson toured more than 25 buildings in recent years in search of a space to which to expand. AMP knew of the building in Salina, which is perfect for AMP’s needs, he says, adding that it is large enough to allow for continued administrative growth.
In 2010, AMP purchased a 17,000-square-foot building that had been adjacent to its Syracuse office at the time, and attached the two buildings, says Williamson.
Then, in 2011, AMP merged with four more practices (Urology Consultants of Syracuse, P.C., Urology Specialists of CNY, P.C., Mohawk Valley Urology, P.C., and Utica Urology Associates, P.C., according to the AMP website), which helped to quickly max out the additional space the medical practice had added the previous year, says Williamson.
AMP plans to recruit two or three new physicians in the next year to keep up with the aging population, says Williamson, but isn’t currently looking to acquire or merge with another practice.
“We don’t see that coming in the next five years because there are no other groups that we want to merge with at this point,” he told CNYBJ.
AMP is owned by 23 physician partners, and currently employs 250 people, according to Williamson. He declined to disclose revenue.
Williamson did say that the practice has steadily grown in volume and gross revenue, but cash collections haven’t always reflected that because its
reimbursements from Medicare, Medicaid, and other insurers have decreased every year since AMP was formed, partially offsetting the revenue gains.
Moving forward, Williamson says AMP will continue to be proactive and stay ahead of the curve in quality patient care.
Bartell Machinery unveils single-twist strander machine
ROME — On July 22, Bartell Machinery Systems, LLC unveiled a state-of-the-art, single-twist strander machine at its plant in Rome. The machine — which spans 78 feet in length, 20 feet in width, stands 17 feet high, and weighs 55,000 pounds (unloaded) — is capable of producing large, industrial, electrical-transmission cable for the power-utility
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ROME — On July 22, Bartell Machinery Systems, LLC unveiled a state-of-the-art, single-twist strander machine at its plant in Rome.
The machine — which spans 78 feet in length, 20 feet in width, stands 17 feet high, and weighs 55,000 pounds (unloaded) — is capable of producing large, industrial, electrical-transmission cable for the power-utility industry. The wire strander is scheduled to ship in August to a customer in China.
“Bartell Machinery owns unique, roll-forming technology that shapes and pre-forms wire during the manufacturing process,” says Patrick J. Morocco, company president. “We had a dedicated team working on this project, which took a year to complete. The challenge was to design and build a structurally sound and perfectly balanced machine that can weigh up to 100,000 pounds [when loaded with copper wire] that rotates at up to 200 revolutions-per-minute and is operated by a programmable logic controller and a menu-driven touch screen.”
Bartell Machinery manufactures equipment for the tire and rubber, oil and gas, and wire and cable industries. The company employs 165 people, of whom 145 work at the Rome facility. The plant is located just north of the city on 17 acres and encompasses 170,000 square feet. The real estate is owned by the company.
The Business Journal estimates that Bartell’s annual revenue exceeds $50 million. In addition to the headquarters in the Mohawk Valley, Bartell has sales-and-service offices in the United Kingdom and Quingdao, China, and a sales office in Toronto.
Bartell Machinery, which is celebrating its 75th anniversary this year, was founded in 1940 to service New York wire and cable customers. National Standard bought Bartell in 1969, and 20 years later sold it to Pettibone, which is owned by Heico, a conglomerate headquartered in Chicago.
Morocco notes that Bartell generates 60 percent of its revenue from the tire and rubber industry, 25 percent from oil and gas, and 15 percent from wire and cable.
The company has more than 8,500 machines in operation worldwide.
“All of our machines are highly engineered,” emphasizes Morocco. “Research and development is a key component of our success. The technical staff includes 40 engineers, all with engineering degrees, of whom 10 focus solely on R&D. We have devoted 5,500 [square] feet to an R&D lab, and we use the most advanced technology to design and develop innovative solutions.”
He continues, “Our ability to design, engineer, and manufacture advanced, industrial machinery that competes in the world market is a testament to our skilled work force and to the strong technical and manufacturing base we have right here in Central New York.”
Morocco was born in New Jersey and graduated from the U.S. Naval Academy in Annapolis, Maryland in 1986 with a B.S. in engineering. He spent seven years in the Navy as an engineering officer, including a stint on an Aegis-class cruiser. Morocco joined the private sector in 1993 and held executive positions with Stewart & Stevenson Operations, Inc. In 1998, he joined Wartsila, a Finnish company, as the vice president of worldwide operations. Morocco moved to the Carrier Corp. in Syracuse in 2001 and to ECR International in Utica in 2004, before joining Bartell in April 2013. He resides in Marcellus with his wife Peggy, also a Naval Academy graduate from the class of 1986, and four children.
Heico Companies, LLC is a holding company that owns 35 manufacturing, construction, and industrial-services companies in 12 countries on four continents. The holding company is organized into four groups: Ancra, Heico Metal Processing, Heico Construction, and Pettibone.
Heico, which is privately owned, posts annual sales topping $2 billion. The holding company offers its properties financial, environmental, health-and-safety, legal, and risk-management resources. Heico also provides its constituent companies a worldwide supply chain for sourcing products and services.
SU alums start $18M student-housing project near campus
SYRACUSE — When Jared Hutter and Michael Edelman were housemates while students at Syracuse University (SU), they had talked about the possibility of one day returning to campus as developers. “We said we should come back and do a project here,” Hutter said. Hutter is a 2006 graduate of SU’s Martin J. Whitman
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SYRACUSE — When Jared Hutter and Michael Edelman were housemates while students at Syracuse University (SU), they had talked about the possibility of one day returning to campus as developers.
“We said we should come back and do a project here,” Hutter said.
Hutter is a 2006 graduate of SU’s Martin J. Whitman School of Management. Edelman graduated from the Whitman School in 2005, according to his LinkedIn page.
Hutter and Edelman, who are now business partners, and Brian Rosen, principal of the Rosen Property Group, are all SU graduates.
Rosen graduated in 2001, according to Hutter. Rosen’s brother also lived with Hutter and Edelman, Hutter added.
Those discussions Hutter and Edelman had about a project are now a reality.
Construction crews have started work on #BLVD404 at 404 University Ave., a student-housing project near the SU campus.
Hutter spoke with reporters in advance of a short ceremony July 30 to formally break ground on the project at the construction site.
#BLVD404 is a joint-venture development between New York City–based BLVD Equities and New Jersey–headquartered Rosen Property Group.
A vacated medical building previously occupied the property before crews demolished that in early July, Hutter said.
Crews are currently working on the new building’s foundation on the property.
The principals found the property “about a year ago,” he adds.
Hutter, managing principal of BLVD Equities, said he expects crews to have the structure ready for student living in the fall of 2016.
The project cost for the 75,000-square-foot structure is about $18 million.
The principals are using a construction loan from M&T Bank (NYSE: MTB) “and the rest came from equity that we put together,” Hutter said.
The Syracuse Industrial Development Agency provided a grant that is connected to the mortgage-recording tax and some exemption on the sales tax for construction materials.
“It’s small in comparison to the overall project cost,” he said regarding the incentives.
Hutter formed BLVD Equities in 2014 after following the student-housing market “for a number of years,” according to a news release that the Hueber-Breuer Construction Co. Inc. issued.
Hueber-Breuer is leading the construction and design team on the project.
The group also includes Albany–based CHA Companies, which has an office in the Galleries of Syracuse at 441 S. Salina St. in Syracuse; Buffalo–based Lauer-Manguso & Associates Architects; and Salina–based Palucci Engineering PC, according to the Hueber-Breuer news release.
When completed, the structure will house 163 undergraduate students (juniors and seniors) in 54 apartments. The complex will include a fitness facility, a student lounge, and on-site management.
“The building will be very technologically advanced, [with] wireless Internet [availability] all over the place,” Hutter said.
He anticipates most occupants will be Syracuse University students but says it’s open to students from any area college or university.
Hutter and his business partners are “still evaluating” the rental rates for #BLVD404. “The rents will be in line with the rest of the market,” he said.
Cuomo: statewide task force to combat worker exploitation in N.Y.
Gov. Andrew Cuomo on July 16 announced what he calls a “first-of-its-kind,” statewide task force to “root out” worker-exploitation issues in several industries in New
Employers face an average 5.9 percent rise in workers’ comp loss-cost rate
DeWITT — The New York State Department of Financial Services has approved an average 5.9 percent increase in the workers’ compensation loss-cost rate for new and renewal business at fully-insured companies, which will take effect on Oct.1. That’s according to a July 17 bulletin posted at the website of the New York Compensation Insurance
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DeWITT — The New York State Department of Financial Services has approved an average 5.9 percent increase in the workers’ compensation loss-cost rate for new and renewal business at fully-insured companies, which will take effect on Oct.1.
That’s according to a July 17 bulletin posted at the website of the New York Compensation Insurance Rating Board (NYCIRB).
KBM Management, Inc., a DeWitt–based employee benefit and risk-management company for self-insured companies, posted a portion of the Insurance Journal’sreport on the increase to a blog on its website.
Ziv Kimmel, vice president and chief actuary at the NYCIRB, had told the Insurance Journal that the loss-cost increase is necessary to “keep pace with increasing indemnity and medical costs” in the state, according to the KBM Management blog.
“All employers … that [are] required to carry workers’-compensation insurance will be affected by this rate, if they are fully insured,” says AnneMarie Latocha, senior consultant on self-insured workers’ compensation at KBM Management.
Latocha spoke with CNYBJ on July 31.
Even though Latocha works on self-insured workers’ compensation, she provided CNYBJ an explanation of how the loss-cost rate affects fully insured firms.
The state Department of Financial Services establishes the loss-cost rate, says Latocha.
The rate represents part of the equation that insurance companies use to calculate the workers’-compensation insurance premium, she adds.
Besides the loss-cost rate, individual insurance companies apply for a loss-cost multiplier, which is determined based on their internal expenses for handling the workers’-compensation insurance.
“The [state] Department of Financial Services would [then] approve the loss-cost multiplier, so then you take the loss-cost rate times the multiplier to come up with a final rate,” says Latocha.
The rate applies to different classification codes and is used to determine the overall premium for the employer, she adds.
Workers’-compensation coverage is a requirement for New York employers, says Mary Lou Karins, account manager in KBM’s quality assurance audit department. Karins also spoke with CNYBJ in the same interview on July 31.
CNYBJ also asked about the increasing indemnity and medical costs that Kimmel had cited as the reasons for the increase in the loss-cost rate.
Indemnity refers to the lost wages that an insurance carrier or third-party administrator pays to an injured worker, says Karins.
“So when you are injured at work and you lose time from work and you’re not being reimbursed by your employer, the insurance carrier of the third-party administrator … will pay lost wages or indemnity benefits to the injured worker, typically every two weeks,” she adds.
All of the expenses associated with the benefit have increased, says Latocha, noting that the insurance companies need to increase premiums “to catch up.”
KBM Management works with employers to help control costs associated with their employee benefits, including health and workers’-compensation plans, according to Karins.
Its clients include school districts, private employers, municipalities, and national associations, she said.
Andrew Miller is the firm’s president, and Patrick Cowburn is the company’s vice president, according to its website.
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