FAA awards nearly $3M for Ithaca, Elmira airports

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ITHACA, N.Y. — The Federal Aviation Administration (FAA) today announced nearly $3 million for airports serving the Ithaca and Elmira–Corning areas. U.S. Senators Charles Schumer

Comptroller issues review of fiscal first quarter’s tax collections

Banks & Credit Unions, Insurance & Financial Services, Law, Accounting & Taxes, New York News, Nonprofits

Total state-tax collections through the first quarter of the state’s fiscal year 2014-15 were $1.3 billion higher than projections from the New York State Division

Tompkins Chamber: Bailey Place Insurance to open office in Lansing

Construction, Design & Real Estate, Insurance & Financial Services, Law, Accounting & Taxes, Regional News, Small Business

LANSING, N.Y. — The Cortland–based Bailey Place Insurance agency has plans to open an office in Lansing, which would represent its second location in Tompkins

State Fair again offers group-sales option

New York News, Small Business, Sports, Entertainment & Tourism

GEDDES, N.Y. — The New York State Fair has a group-sales program that it contends offers organizations and companies a way to provide a “benefit”

Urban Life CrossFit to expand with spin studios

Sports, Entertainment & Tourism, Subscriber Only

SYRACUSE — University CrossFit, LLC, which does business as Urban Life CrossFit, has plans to expand its space in its current location, adding a spinning studio. The company also plans to open a second location on the Syracuse University (SU) hill that too will focus on spinning, an indoor-cycling workout. The second studio is a

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SYRACUSE — University CrossFit, LLC, which does business as Urban Life CrossFit, has plans to expand its space in its current location, adding a spinning studio.

The company also plans to open a second location on the Syracuse University (SU) hill that too will focus on spinning, an indoor-cycling workout.

The second studio is a space in the CVS Pharmacy building at 704 S. Crouse Ave. in Syracuse.

The company wants to stay ahead in the fitness trend, says Jamar Clarke, co-founder and head trainer at Urban Life CrossFit.

“We want to stay cool. We want to stay new and we want to keep things different,” says Clarke.

His two business partners include Eric Hinman and Stephane Lasher. Each man has equal ownership of University CrossFit, LLC.

Clarke spoke with the Business Journal News Network on July 28.

A CrossFit gymnasium targets people who are working to generate a healthy lifestyle and offers a group of trainers “that can give you feedback on changes to better your life,” Clarke said in an interview last year prior to CrossFit’s opening.

“CrossFit is a strength and conditioning program … to optimize physical competence in each of 10 recognized fitness domains [that include] cardiovascular and respiratory endurance, stamina, strength, flexibility, power, speed, coordination, agility, balance, accuracy,” according to the website for Chicago–based CrossFit Defined.

Urban Life CrossFit, which opened in October 2013, is located on the fourth floor of Rockwest Center at 1003 W. Fayette St., next door to O Yoga, a yoga studio.

O Yoga has plans to move to a different space in Rockwest Center to accommodate University CrossFit’s expansion, according to Clarke.

Clarke describes the company’s upcoming spin studio as “dance club meets cycling studio,” with roughly 20 to 40 spin bikes and an instructor.

“It’s a healthy, safe way to burn a large amount of calories within a 45-minute to an hour class,” he says.

The company plans to open both its expansion in Rockwest Center and the location in the CVS building — at the corner of South Crouse Avenue and East Adams Street — in September, he says.

Both locations will operate under the name Urban Life Spin, says Clarke.

Urban Life CrossFit currently operates in a 4,800-square-foot space. The expansion at Rockwest Center will nearly double its space to about 9,000 square feet, says Clarke.

The space for the spin studio inside the CVS building is about 2,000 square feet, he adds.

Clarke declined to disclose how much it is costing to expand with the spin studios but says the owners are using their own assets to pay for the work.

Guy Easter is the landlord for the structure where the pharmacy operates, says Clarke. He learned about the space’s availability from John Vavalo, the owner of J. Michael Shoes at 173 Marshall St., who he says introduced him to Easter.

Sam Lampuri, landlord at Rockwest Center, will handle the work necessary to prepare the space at CrossFit’s current location, says Clarke.

In addition to the new South Crouse Avenue space, Urban Life CrossFit also has plans to add a retail area and a smoothie bar where members could grab a salad when they’re done exercising if they choose.

Syracuse Fitness Store will supply the spin machines, says Clarke. J. Michael Shoes will supply the merchandise for the retail section, along with Montreal, Quebec–based Cory Vines, a retailer of exercise apparel, he adds.

The additional space at Rockwest Center will include the spin studio, a front desk area, a conference room, a lounge area, and the retail space, says Clarke.

Urban CrossFit is seeking to hire four additional part-time CrossFit trainers and six to eight part-time spin instructors, he says.

The company currently employs six people, including Clarke, who is one of three full-time trainers.

Urban CrossFit also plans to work with interns through SU’s sports-management program to allow the students “… to get the experience on how to run a gym facility.”

The students will also operate the food bar and the retail area.

CrossFit currently conducts seven classes, including four in the morning (5 a.m., 6 a.m., 7 a.m. and 8 a.m.), one during the noon hour (12:30 p.m.), and two in the afternoon (4:30 p.m. and 5:30 p.m.).

It plans to add an eighth class on Aug. 25, beginning at 6:30 a.m.

The classes range in size from 15 to 40, but most classes include average participation between 20 and 25, he says.

CrossFit currently has 285 members, according to Clarke.

Contact Reinhardt at ereinhardt@cnybj.com

Bonadio report: Upstate construction industry improves since 2012

Insurance & Financial Services, Law, Accounting & Taxes, Subscriber Only

The upstate New York construction industry has seen a “positive improvement” in the last couple years, according to the 2014 Upstate New York Contractors State of the Industry Study that The Bonadio Group released. About 75 respondents provided information for this year’s findings, the report says. Headquartered in Rochester, The Bonadio Group is an accounting

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About 75 respondents provided information for this year’s findings, the report says.

Headquartered in Rochester, The Bonadio Group is an accounting and business-advisory firm that operates nine offices in upstate New York, including Syracuse and Geneva, along with New York City and Rutland, Vt.

The Bonadio Group conducted the online survey in the early part of 2014, says Scott Cresswell, a partner in the Bonadio Group’s commercial division. He is also a certified construction-industry financial professional.

Since 2014 is an even-numbered year, this survey focused on the state of the industry.

In odd-numbered years, the survey hones in on construction firms’ benefits and compensation, Cresswell says.

The information contained in the report is designed to help construction-industry executives evaluate their position and standing on issues ranging from financial-management techniques to economic outlook in order to provide an assessment on whether their organization is competitive with other area construction companies, according to Bonadio.

Industry issues
The construction study focused on contracts, including success rate on bids and average number of bidders, average dollar size of contracts, and status of backlog.

The survey found 63 percent of contractors reported bid-success rates of less than 25 percent, which is down from the 75 percent of contractors indicating the same rate during the 2012 survey.

The report also found the average number of competitors per bid is “similar” to what was reported in 2012. That year, 52 percent of respondents said that, on average, they faced six to 10 competitors. The latest survey lists that figure at 55 percent.

The respondents also indicated a “shift” in the average contract size, according to the Bonadio report.

More than 73 percent reported an average contract size of under $5 million, a figure that is down from the 93 percent reporting an average contract size of under $5 million in the 2008 survey.

At the same time, 35 percent of all respondents said their backlog has “decreased” from last year.

Bonding, future outlook
The Bonadio report also focused on surety-bonding issues, including percentage of work bonded and difficulty of obtaining bonds, along with company profitability.

The survey found 75 percent of respondents said that their surety bonding is the same as it was in 2013, but 13 percent of respondents claimed that surety bonding was either “harder or much harder” to secure.

It also found that, on an overall basis, 74 percent of respondents said that 50 percent or less of their work was bonded, which is up from 69 percent reporting a 50 percent bonding rate in 2012.

In analyzing those figures, Cresswell says contractors in 2012 were still working with contracts that involved money from the federal stimulus package a few years earlier.

“Whenever you’re dealing with government dollars, the bond is absolutely required. But when you’re dealing with more private dollars, then bonds are not always required from private companies,” says Cresswell.

The figures are just indicative of the “mix of work” the contractors have,” he adds.

The survey also found 85 percent of survey respondents reported a profit in 2013. It also found more than 48 percent of survey respondents said that they will seek construction projects in new geographic areas, while nearly 20 percent said they will seek projects in new specialty areas.

The study examined future outlook, including revenue projections, economic outlook, and other issues considered “critical.”

The report found that the contractors’ outlook is “much brighter” than in years past, with 58 percent of respondents describing themselves as either slightly or very optimistic. At the same time, about 14 percent of respondents said they were either slightly or very pessimistic.

When asked about revenue projections for 2014, 59 percent of respondents said they expect an increase, 11 percent expect a decrease, and 31 percent expect no change.

The Bonadio report noted survey respondents indicated retaining and attracting qualified personnel (38.2 percent) and the economy (25.4 percent) as the two “most important” issues facing contractors.

“A good part of that is because … everyone seems to be thinking that their revenue and profits are going to be growing over the next couple of years,” says Cresswell.

Those two issues were also the top two concerns indicated in the 2012 Bonadio report, only in reverse order two years ago.

About the respondents
The Bonadio Group sought responses from small (under $9.9 million in annual revenue), medium (between $10 million and $49.9 million), and large (more than $50 million) contractors.

Small construction firms provided 47 percent of the responses; medium-sized firms, 40 percent; and the large firms provided 13 percent of the responses.

The survey found 84 percent of responding contractors have been in business for more than 16 years and 60 percent have operated for more than 30 years.

At 55 percent, the percentage of family-owned businesses in this year’s survey is down from 62 percent in 2008, the report found.

About 26 percent of respondents said they plan to sell or transition their business within the next five years, according to the survey data.

Contact Reinhardt at ereinhardt@cnybj.com

Five businesses to expand or locate in Binghamton under START-UP NY program

Construction, Design & Real Estate, Health Care, Small Business, Subscriber Only

BINGHAMTON — Five businesses will expand or locate in Binghamton through the START-UP NY program, the initiative that creates tax-free areas associated with colleges and universities statewide. The state projects the five businesses will invest $2.3 million and create more than 80 new jobs in tax-free areas that Binghamton University sponsors, according to a July

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BINGHAMTON — Five businesses will expand or locate in Binghamton through the START-UP NY program, the initiative that creates tax-free areas associated with colleges and universities statewide.

The state projects the five businesses will invest $2.3 million and create more than 80 new jobs in tax-free areas that Binghamton University sponsors, according to a July 27 news release from the office of Gov. Andrew Cuomo.

The businesses approved for START-UP NY include Advanced Material Analytics, LLC; Charge CCCV, LLC; ClickCare, LLC; Innovation Associates, Inc.; and Sonic Blocks, Inc.

Binghamton University is sponsoring all the companies, Cuomo’s office said.

These START-UP NY businesses will create jobs in several key industries, including biotechnology research and development, analytical laboratory-instrument manufacturing, chemical manufacturing, audio and video-equipment manufacturing, and software services.

Binghamton University is “quickly” becoming a “hub for innovation” and the START-UP NY program is “already helping to advance our mission,” Harvey Stenger, president of Binghamton University, said in the governor’s news release.

“These companies represent the types of industries that will be driving our region forward in today’s global economy, while creating more than 80 jobs in the Greater Binghamton area right now. We are thrilled with this first slate of companies, but it is only the beginning and we look forward to bringing more businesses, and jobs, to the Southern Tier,” said Stenger.‎

To date, 41 schools have been approved for START-UP NY, establishing more than 200 tax-free areas for new or expanding businesses to operate on or near campus.

About the firms
The companies include Advanced Material Analytics, LLC, a new analytical laboratory-instrument manufacturing business, which is locating at the Innovative Technologies Complex on the Binghamton University campus.

Industrial clients for data acquisition and quality-control purposes and other research institutions and universities will use the equipment that the firm develops for research and development purposes and for studying material specimens.

The company plans to invest $415,500 and create 13 net new jobs.

Charge CCCV, LLC is a new company that’s locating in the same complex at Binghamton University.

The business specializes in technology development and commercialization using new chemistries for energy storage, which Charge CCCV will develop by applying material-science research to batteries for global customers.

The company plans to invest $700,000 and create 14 net new jobs.

The firms also include ClickCare, LLC, an existing SAAS “Software as a Service” company.

Its core product, iClickCare, enables health-care providers to safely use digital media for secure collaboration, the governor’s office said.

The digital media can include conversation, PDFs, photographs, and video clips as the basis for “secure asynchronous” communications within the users’ natural network of colleagues on behalf of the patient.

The company will expand to the Innovative Technologies Complex and plans to invest $293,000 and create 20 net new jobs, Cuomo’s office added.

Innovation Associates, Inc. is an existing business that specializes in pharmacy automation, offering precision-counting equipment and workflow-software platforms to the pharmaceutical industry.

Innovation Associates has more than 1,200 customer installations including retail chains and independents, government, hospitals, mail order and refill centers across the U.S., Canada, Puerto Rico, and U.S. government sites in Europe and Asia.

The company will expand to the Center of Excellence Building on the Binghamton University campus, and plans to invest $100,000 and create 25 net new jobs.

Sonic Blocks, Inc. is a new business that designs and develops proprietary audio and video Bluetooth and WiFi speaker systems and accessories serving the consumer-electronic space.

Sonic Blocks will initially sell the products direct to consumers in North America.

The firm plans to base company growth upon new patent-pending technology that allows for customizable configurations not previously available to consumers, and backed with technology from the “industry technology leader in BT development,” the governor’s office said.

The company will also locate to the Center of Excellence Building and plans to invest $795,000 and create 11 net new jobs.

Contact Reinhardt at ereinhardt@cnybj.com

Small Business Tip: Communication is a Priority

Business Mentors, Small Business, Subscriber Only

Communication: The exchange of ideas, messages, or information by speech, signals, or writing. Or, a system for sending and receiving messages, as through telecommunications. How are you getting messages from your customers? Do you have the tools in place to allow them to provide you the feedback critical to your business success? Moreover, how do

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Communication: The exchange of ideas, messages, or information by speech, signals, or writing. Or, a system for sending and receiving messages, as through telecommunications.

How are you getting messages from your customers? Do you have the tools in place to allow them to provide you the feedback critical to your business success? Moreover, how do you use the information gathered from your various means of communicating with your customers?

The best way to determine a customer’s level of satisfaction, or what additional products or services the customer might want, is to ask. However, you may not always have the opportunity to interact with every person who comes into your store or who orders online from you. So what lines of communication can you open to customers that will serve both of you well? How will you let them know that you value them and their opinions?

First, review all the information you have gathered thus far from a variety of means: conversation, email, letters, word-of-mouth, and even your competition. Identify the nuggets of feedback that have caused you to do something differently; perhaps a whole new train of thought about your product or service resulted from you having that information.

Secondly, analyze the information and its source from every possible angle. Was it reliable, logical, and feasible? If it was not immediately applicable when received, could it eventually have merit? What advantages would working this knowledge into your strategy have for you and your business?

Next, don’t let the customers with the suggestions off the hook. Let them know you have received their communicated message and you are interested in knowing more. If their request is not within your business parameters, let them know why and offer alternatives. The ultimate message sent here is that you care enough to solicit their feedback and, when possible, implement it.

And, the customer with the complaint is not to be ignored — at all. Remember, the person complaining is expressing a need. Your job as a small-business owner is to determine the source of that complaint (need) and offer the solution. Involving this customer in the solution is to open wide lines of communication and establish a loyal customer.

Finally, the lines of communication will be demonstrated in your promotional packages. Because you know your customers, what they want, and how to reach them, they will accept your marketing outreach and offers as credible deals. They will recognize themselves as your preferred customer.

Remember, ask the question and be prepared to acknowledge the response.

Nancy Ansteth is a New York State certified business advisor with the Small Business Development Center at Onondaga Community College. Contact her at anstethn@sunyocc.edu or (315) 498-6072.

Corning to expand operations, add jobs at Canton facility

Construction, Design & Real Estate, Health Care, Subscriber Only

CANTON — Corning, Inc. (NYSE: GLW) has plans for a more than $21 million capital-expansion project that’ll create 40 jobs at its facility in Canton in St. Lawrence County. The firm will add more than 30,000 square feet to accommodate additional storage and an increase in production of high-fused silica glass for use in the

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CANTON — Corning, Inc. (NYSE: GLW) has plans for a more than $21 million capital-expansion project that’ll create 40 jobs at its facility in Canton in St. Lawrence County.

The firm will add more than 30,000 square feet to accommodate additional storage and an increase in production of high-fused silica glass for use in the semiconductor industry.

New York Gov. Andrew Cuomo announced the Corning expansion plans in a news release distributed July 29.

At the same time, the New York Power Authority (NYPA) has allocated Corning more than 2 megawatts (MW) of power as it expands in the North Country, the governor’s office said.

Corning, a firm that focuses on specialty glass and ceramics, has plans to add more than 23,000 square feet to its Canton facility for increased production. The location supplies microchips for computers, cell phones, and other electronics.

The project also includes a 7,200-square-foot warehouse, Cuomo’s office said.

Corning is planning a formal ceremony for next month to mark the start of construction on the expansion project.

NYPA will provide Corning the low-cost hydropower under a seven-year contract and will draw the power from a block of St. Lawrence electricity known as “Preservation Power,” Cuomo’s office said.

In addition to the new permanent jobs, which Corning is already adding, the firm expects its capital investments to support dozens of temporary construction jobs.

Empire State Development (ESD) is providing the company $750,000 in Excelsior Jobs Program tax credits to assist with the job-creation project, according to Cuomo’s office.

“This allocation by NYPA will reduce Corning’s energy cost, which is a major expenditure at the Canton plant,” Patrick Jackson, director of Corning’s global-energy management, said in the governor’s news release. “In addition, ESD’s support for this project is a strong job-creation incentive.”

The power for Corning’s Canton facility is a ReCharge NY allocation that NYPA trustees approved in April 2012 in exchange for the firm’s commitment to retain its nearly 200 positions, Cuomo’s office said.

ReCharge NY is a statewide program to provide lower-cost power that is linked to more than 380,000 jobs, it added.

Under state law, allocations of power to Northern New York businesses from the St. Lawrence hydroelectric facility are for firms in Franklin, Jefferson and St. Lawrence Counties, Cuomo’s office said.

NYPA provides the electricity at a price that is currently 40 percent less than the wholesale-market price in the region.

Preservation Power allocations currently support “hundreds of jobs” in St. Lawrence County, according to the governor’s office.

Besides Corning and Canton, the firm has locations in various parts of New York, according to the governor’s office. Headquartered in Corning, the company also operates research centers in North America, Europe, and Asia and employs about 30,000 people globally, according to its website.

ConMed moves forward with interim CEO after Corasanti steps down

Energy, Environment & Sustainability, Manufacturing & Engineering, Subscriber Only

UTICA — ConMed Corp. (NASDAQ: CNMD), a Utica–based surgical-device maker, is moving ahead with new leadership after its CEO stepped down and its founder retired. The company on July 23 announced that Joseph (Joe) Corasanti resigned as CEO, president, and board member, effective immediately. The company provided no reason for Corasanti’s departure. The board has

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UTICA — ConMed Corp. (NASDAQ: CNMD), a Utica–based surgical-device maker, is moving ahead with new leadership after its CEO stepped down and its founder retired.

The company on July 23 announced that Joseph (Joe) Corasanti resigned as CEO, president, and board member, effective immediately. The company provided no reason for Corasanti’s departure.

The board has appointed Curt Hartman, an independent director of ConMed and the former interim CEO and CFO of Stryker Corporation, as interim CEO.

In addition, founder Eugene (Gene) Corasanti has decided to retire, effective immediately, from the board and as an employee after nearly 44 years with ConMed, the company said in a news release.

Joe Corasanti has been “integral” to ConMed for more than two decades and the firm is “extremely grateful” for his contributions, Mark Tryniski, chairman of ConMed’s board of directors, said in the release.

“Joe’s leadership has been instrumental in growing ConMed into a leading global supplier of medical-technology devices. Under his tenure, the company expanded revenues, earnings, cash flow and its return to shareholders through internal growth and the completion of more than twenty acquisitions. We are also grateful to Gene Corasanti, a true entrepreneur who founded the company in 1970 with one product idea and strategic vision that became the foundation for the worldwide organization that ConMed is today,” said Tryniski.

Hartman is the former interim CEO and CFO of Kalamazoo, Mich.–based Stryker Corporation (NYSE: SYK) and brings more than 22 years of medical-device industry experience to ConMed.

During his tenure at Stryker, Hartman focused on initiatives that included the completion of multiple acquisitions, debt offerings, share buybacks, and an enhanced-dividend policy while “innovating” the business model to address the changing health-care landscape, according to ConMed.

As ConMed moves forward, the board has formed a search committee comprised of independent board members Mark Tryniski, Jerome Lande, Stephen Mandia, Brian Concannon and Charles Farkas to identify candidates for the permanent CEO position.

The ConMed board also announced the appointment of Farkas, a senior partner at Bain & Company and former North American leader of Bain’s healthcare practice, as a new independent director, effective immediately.

The board intends to retain an executive-search firm to assist in the process, the company said.

In addition to the leadership announcement, ConMed also announced it is ending its review of “strategic alternatives,” deciding instead to have the board work with management to focus on further developing and executing ConMed’s strategic plan to grow revenues and margins, the firm said.

ConMed’s stock plummeted by $3.98, or more than 9 percent, on the day it announced the news that it’s no longer seeking a buyer and that its CEO has resigned.

Earnings and guidance adjustment
In its quarterly financial report, also issued the same day, ConMed said it earned more than $10.2 million in the second quarter that ended June 30, up from the more than $9.5 million earned during the same period in 2013.

The firm generated sales of more than $188 million, a decrease of more than 2 percent over the prior-year period caused “principally” by weaker sales of general-surgery devices, surgical-visualization capital products, and the discontinuance of the Cascade PRP product line, according to the earnings news release.

Even though ConMed has plans to launch two new products during second half of 2014, “it may take more time than the [year’s] final six months” for the products to reach their potential, the company noted.

As a result, the firm now forecasts full-year revenue to total between $735 million and $745 million, compared to prior guidance of a range between $770 million and $780 million.

It also changed its full-year adjusted earnings per share guidance to a range between $1.85 and $1.95 compared to prior guidance of $1.90 and $2.00.

However, going forward ConMed said it would no longer provide specific financial guidance on a quarterly basis in order to avoid misinterpretation of quarterly fluctuations.

The adjusted estimates for the full year 2014 exclude special items such as manufacturing and restructuring costs that it expects to incur in 2014 due to the relocation of manufacturing activities, litigation, severance, and other costs, according to its earnings news release.

ConMed is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures. The company’s products are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.

Headquartered in Utica, ConMed employs 3,600 people with a direct sales presence in 16 countries outside the U.S.

Investor concern
ConMed on July 29 announced that a California–based investor rejected its offer regarding the board-member election at ConMed’s upcoming annual meeting in September.

In its news release, ConMed announced that it recently contacted San Francisco, Calif.–based Voce Capital Management LLC seeking a “mutually agreeable resolution” to avoid a “costly and distracting” proxy contest.

Voce Capital owns about 0.3 percent of the outstanding shares of ConMed common stock, according to the California firm’s “most recent” disclosure to ConMed, the Utica company said.

Voce earlier this year delivered to ConMed a notice of its intention to nominate four directors for election to the company’s board of directors at the upcoming annual meeting scheduled for Sept. 10.

ConMed said it believes that it is in the “best interests” of the company and its shareholders to focus on improving the firm’s operating performance. So, in order to avoid the “distraction” of a proxy contest, ConMed said it offered to nominate Voce’s nominee, Josh Levine, to ConMed’s board.

Voce rejected ConMed’s offer and “insisted” that the company’s director nominees include J. Daniel Plants, Voce’s managing partner, as part of any settlement agreement, according to ConMed.

ConMed listed in its news release the steps it has taken in the past year, which it contends “significantly strengthened the quality of its leadership.”

Contact Reinhardt at ereinhardt@cnybj.com

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