Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
New York home sales jump in July
New York realtors sold more than 11,000 previously owned homes in July, an increase of more than 19 percent from July 2012, according to a
Hop & Goblet formally opens in Utica on Wednesday
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Nephrology Associates to offer services in Oswego County
OSWEGO — Nephrology Associates of Syracuse, PC today announced it has made arrangements to open a satellite office in Oswego County at the Oswego Health
St. Joseph’s appoints Price as CFO
SYRACUSE — St. Joseph’s Hospital Health Center today announced the appointment of Meredith Price as CFO, effective Sept. 1. She most recently served as
Newly constructed Fulton Health Center opens
FULTON — Northern Oswego County Health Services, Inc. (NOCHSI) today announced the opening of the “newly constructed” Fulton Health Center at 510 Fourth St. in
Federal government awards CNY counties money for improved border security
The U.S. Department of Homeland Security is awarding several Central New York counties more than $768,000 in funding aimed at improving border security. The
Federal government awards Oswego County Airport $1.5 million in grants
VOLNEY — The U.S. Department of Transportation has awarded the Oswego County Airport two grants totaling more than $1.5 million to acquire aircraft-deicing equipment and
ESD awards funding to CNY projects
The board of directors of Empire State Development (ESD) on Thursday approved funding for several projects, including three in the Central New York region.
DiNapoli: NY job growth rate slips below the nation’s
National job-growth rates have exceeded those in New York for the first time in six years, according to a new report New York State Comptroller Thomas DiNapoli released today. DiNapoli’s report, entitled “Employment Trends in New York State,” noted that New York added 110,000 jobs between June 2012 and June 2013. But over
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National job-growth rates have exceeded those in New York for the first time in six years, according to a new report New York State Comptroller Thomas DiNapoli released today.
DiNapoli’s report, entitled “Employment Trends in New York State,” noted that New York added 110,000 jobs between June 2012 and June 2013.
But over the same period, national job-growth rates exceeded New York’s rates in nearly every major employment sector, including professional services, leisure and hospitality, trade, transportation and utilities, financial activities, and mining, logging, and construction.
The “good news” is that New York’s job count has increased above its pre-recession levels, DiNapoli said in a news release.
“The bad news is that, over the past year, we have fallen short of the national growth rate in several major employment sectors. New York, like much of the nation, is still struggling to generate the well-paying, secure jobs that workers at various skill levels and experience need and deserve,” DiNapoli said.
The report also analyzed New York employment data over the past six years.
From 2007 through 2011, private-sector job trends were more favorable in New York than nationwide, partly because of sharp housing-market declines in some other areas of the nation that didn’t occur in New York.
Private-sector jobs in New York rose 1.5 percent during this period while employment nationwide declined 3.1 percent.
New York also retains a significant advantage in personal income per capita, at $52,095 in 2012 compared to a national average of $42,693, the DiNapoli report said.
Regionally, the state’s employment picture remains “uneven,” according to the state comptroller.
In the period from 2007 through 2012, private employment increased in New York City, the Ithaca region, the Capital District and the Buffalo-Niagara region. In the same time period, regions including Syracuse, Utica–Rome, Binghamton, Elmira, and Kingston “experienced sizeable declines” in private-sector employment.
Private-sector employment declined more than 3 percent in the Syracuse region, nearly 4 percent in the Utica–Rome area, and nearly 7 percent in the Binghamton region, the data in the DiNapoli report indicates.
Contact Reinhardt at ereinhardt@cnybj.com
Moody’s revises New York’s outlook to positive, affirms rating on bonds
Moody’s Investors Service on Thursday changed the outlook on New York from stable to positive and affirmed the Aa2 rating on the state’s $3.5 billion in general-obligation (G.O.) bonds. Moody’s has also affirmed the ratings on all outstanding appropriation-backed and G.O.-related bonds as well as various state-intercept programs. The positive outlook reflects improvements
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Moody’s Investors Service on Thursday changed the outlook on New York from stable to positive and affirmed the Aa2 rating on the state’s $3.5 billion in general-obligation (G.O.) bonds.
Moody’s has also affirmed the ratings on all outstanding appropriation-backed and G.O.-related bonds as well as various state-intercept programs.
The positive outlook reflects improvements in New York’s economy, governance, financial position, and fiscal outlook, Moody’s said in a news release. If the trend continues, New York would also boost its reserves and draw closer to “structural balance,” the firm added.
New York’s Aa2 general obligation rating reflects the relative strength and recent resilience of its economy; governance constraints including a history of late budgets and limited executive authority to reduce appropriations; a financial position that has improved but remains below average; a moderate combined debt and pension burden; and sound debt management and frequently updated financial forecasting, according to Moody’s.
The revision is “another strong affirmation” of the progress state government has made to put New York’s fiscal house “in order,” New York Gov. Andrew Cuomo contended in a news release.
Contact Reinhardt at ereinhardt@cnybj.com
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