Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Viewpoint: Clinton native serves with a Navy tilt-rotor aircraft squadron
Lt. j.g. Ian Foxton, a native of Clinton, in Oneida County, serves the U.S. Navy as a member of Fleet Logistics Multi-Mission Squadron (VRM) 30 located in San Diego, California. Foxton joined the Navy four years ago. Today, Foxton serves as a naval aviator at Fleet Logistics Multi-Mission Squadron 30. “I joined the Navy because […]
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
Lt. j.g. Ian Foxton, a native of Clinton, in Oneida County, serves the U.S. Navy as a member of Fleet Logistics Multi-Mission Squadron (VRM) 30 located in San Diego, California.
Foxton joined the Navy four years ago. Today, Foxton serves as a naval aviator at Fleet Logistics Multi-Mission Squadron 30.
“I joined the Navy because I wanted to do something cool and meaningful,” says Foxton.
Growing up in Clinton, Foxton attended Clinton High School and graduated in 2014. Foxton is also a 2019 graduate of Binghamton University.
Today, Foxton relies upon skills and values similar to those found in Clinton to succeed in the military.
“Growing up, there was a small-town sense of community,” he says. “It’s the same thing in the Navy. It’s similar to a sports team in high school.”
These lessons have helped Foxton while serving aboard Fleet Logistics Multi-Mission Squadron 30.
The CMV-22B is the Navy’s version of the U.S. Marines’ V-22 Osprey. It is designed to replace the C-2A Greyhound, which has provided logistical support to aircraft carriers for four decades. CMV-22Bs are vertical takeoff and landing tilt-rotor aircraft, which have an increased operational range, faster cargo loading/unloading, increased survivability and enhanced communications compared to the C-2A Greyhound. According to Navy officials, the mission of the CMV-22B is to provide timely, persistent air logistics for sustained carrier strike group lethality, anywhere in the world.
As a member of the Navy, Foxton is part of a world-class organization focused on maintaining maritime dominance, strengthening partnerships, increasing competitive warfighting capabilities and sustaining combat-ready forces in support of the National Defense Strategy.
“The United States is separated from our adversaries by bodies of water and the Navy is our first line of defense,” says Foxton. “The Navy also keeps commercial trade routes open and safe.”
Foxton has many opportunities to achieve accomplishments during military service.
“I’m proud of getting my wings, for sure,” he says. “It takes a lot of time and effort. Flight school takes two to three years to complete. It’s physically and mentally challenging, and only about 60 percent of people who start the program make it through.”
As Foxton and other sailors continue to perform missions, they take pride in serving their country in the U.S. Navy.
“Serving in the Navy means a lot to me because it’s a family tradition for me,” says Foxton. “Both my grandparents and my dad served in the military.”
Foxton is grateful to others for helping make a Navy career possible. “I want to definitely thank my wife, my parents and my grandma,” he says.

Meier’s Creek Brewing to develop Le Moyne College-themed beer
SYRACUSE — Meier’s Creek Brewing Company of Cazenovia will be developing a Le Moyne College-themed beer that will be a fundraiser for the school. The Cazenovia–based brewery will develop the beer that will be available for sale beginning in the first quarter of 2024. Under the agreement, Le Moyne will receive proceeds from 20 percent
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
SYRACUSE — Meier’s Creek Brewing Company of Cazenovia will be developing a Le Moyne College-themed beer that will be a fundraiser for the school.
The Cazenovia–based brewery will develop the beer that will be available for sale beginning in the first quarter of 2024.
Under the agreement, Le Moyne will receive proceeds from 20 percent of all sales, which will go to the Le Moyne College Fund and be allocated toward the school’s wellness initiatives and student scholarship to help offset the cost of attendance, according to a Le Moyne news release.
The partnership was first announced at Le Moyne’s Founders’ Day Gala on Oct. 20, the college noted. The effort to bring the new beverage to market will unfold over the next several months, with a goal of premiering the brew through a series of alumni and donor-focused events. That includes Le Moyne in New York, a gala event scheduled to take place in New York City in March 2024.
Meier’s Creek Brewing was established in 2019, when its parent company, Feldmeier Equipment Co., purchased the Empire Farm Brewery in Cazenovia.
The Meier’s Creek taproom on Route 13 in Cazenovia opened in 2020 and has since upgraded the outdoor and indoor space at that location. In 2021, the business announced a second location, at the Inner Harbor in Syracuse, with that space opening in January 2022.
Crystal Paolelli, director of marketing at Meier’s Creek Brewing Company, said in the Le Moyne release, that the business and Le Moyne have developed a “unique approach” to their partnership that will grow to include “students as we move through the various stages to provide hands-on experience and alumni involvement with the product development.”
Over the next several months, Le Moyne student members of Heights Global Marketing, the in-house student marketing firm for the Madden College of Business and Economics, will lead a number of focus groups to explore options for type (IPA, lager, etc.) and name of the beer, labeling, packaging, and pricing.
Members of the Le Moyne community and the general public will have a chance to suggest a name for the new beer.
All research initiatives will be conducted “in the context of the latest craft-beer industry trends, informed by Meier’s Creek’s extensive experience in that retail space,” Le Moyne College noted.
“I’m excited about this partnership and the many ways it will benefit both Le Moyne College and Meier’s Creek Brewing,” Jim Joseph, Le Moyne’s VP for advancement and innovation and dean of the Madden College of Business and Economics, said. “Several Le Moyne alumni serving in leadership roles at the company and there is a strong alignment of values and innovation between the two organizations that will only grow as we continue to collaborate.”

Excellus awards Health Equity Innovation funding to seven CNY nonprofits
DeWITT — The Upstate Foundation Inc, Cayuga Counseling Services, and Le Moyne College are among seven Central New York organizations awarded funding in Excellus BlueCross BlueShield’s Health Equity Innovation Awards. Excellus, Central New York’s largest health insurer, awarded the CNY organizations $162,500, which is part of a total of more than $520,000 in financial support
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
DeWITT — The Upstate Foundation Inc, Cayuga Counseling Services, and Le Moyne College are among seven Central New York organizations awarded funding in Excellus BlueCross BlueShield’s Health Equity Innovation Awards.
Excellus, Central New York’s largest health insurer, awarded the CNY organizations $162,500, which is part of a total of more than $520,000 in financial support for community programs that address racial and ethnic health disparities across the health plan’s upstate New York service area.
Excellus grants will support 20 nonprofits across the Central New York, Rochester, Utica/North Country, and Southern Tier regions.
With more than 180 applicants, the review process included input from individuals with “diverse backgrounds and experiences to assess each proposal.” Funding recipients were selected based on “clear, defined goals and measurable results for reducing health disparities and improving health equity,” the health system said.

“At Excellus BlueCross BlueShield, our mission is to help people lead heathier more secure lives through access to high-quality, affordable health care,” Simone Edwards, VP of health equity and community investments at Excellus, said in a news release. “We’re committed to community partnerships and using our resources to support initiatives that directly target health disparities, promote access to care, and address the underlying social determinants of health, to help ensure everyone can reach their full potential.”
Central New York funding recipients
Below is a description of the the funding recipients and the programs they are implementing, as described in the Excellus release.
• Le Moyne College — Dolphins Spreading Healthy Optimistic Positive Experience (HOPE). The program will utilize a peer-based, health-promotion approach to reach high-school students who are at risk for mental-health issues and suicide.
• Cayuga Counseling Services, Inc. — Its program will expand the community’s comprehensive collaborative efforts and create an online database that includes the Child Advocacy Center, the Rape-Crisis Center, the Sexual and Physical Abuse MDT, the Child Fatality Review Team and Runaway/Homeless Youth Taskforce, and the Cayuga County Dually Diagnosed Taskforce.
• Suicide Prevention & Crisis Service (SPCS) of Tompkins County — LGBTQIA+ Crisis Line. The program will support increasing outreach to those in the LGBTQIA+ community and will formalize training for crisis counselors, ensuring they are best equipped to support those in need.
• The Upstate Foundation, Inc. — Native American Preterm program. It will support the implementation of a culturally competent approach to decrease the high preterm-birth rate in Native American women in Central New York by increasing access to early and sustained prenatal care, with an emphasis on cultural awareness and sensitivity.
• On Point for College — Creating Safe Spaces. The program will support On Point’s Creating Safe Spaces project that will facilitate a culture/environment of openness, inclusion, and affirmation, regardless of a student’s race, gender, sexual orientation, or mental-health status.
• Joseph’s House for Women, Inc. — A Home for a Healthier Future. The initiative will support Joseph House enhanced programming in case management, a life-skills program, counseling, childcare, and 24-hour staffing.
• Seven Valleys Health Coalition —Postpartum doula support in rural communities. The program will support postpartum doula program research and development, the training of local postpartum doulas, and doula reimbursement for community members. Postpartum doulas will provide support and knowledge, not only to those recently pregnant, but also their families — helping to work through the new season of life that comes with the birth of a child.

New SUNY Poly president outlines plans for college
MARCY, N.Y. — He may be nervous about his upcoming first Mohawk Valley winter, but Winston Oluwole Soboyejo is anything but anxious about his new role as SUNY Polytechnic Institute’s seventh president. Soboyejo began in the post on Oct. 2, succeeding Officer-in-Charge Andrew Russell. After serving as a professor at Princeton University for about 17
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
MARCY, N.Y. — He may be nervous about his upcoming first Mohawk Valley winter, but Winston Oluwole Soboyejo is anything but anxious about his new role as SUNY Polytechnic Institute’s seventh president.
Soboyejo began in the post on Oct. 2, succeeding Officer-in-Charge Andrew Russell.
After serving as a professor at Princeton University for about 17 years and leading Worcester Polytechnic Institute (WPI) as interim president for the past year, there were several things that really appealed to Soboyejo about SUNY Poly and led to him applying for the president’s role.
First was the surrounding community, which he describes as welcoming. It’s a place where he could see himself working, living, and playing.
Soboyejo also sees the start of a renaissance happening in the region, and that appeals to him as well. “I see just tremendous opportunity to be part of this ecosystem,” and help to produce the workforce of today and tomorrow, he says.
Soboyejo was able to play a part in the renaissance of the Worcester, Massachusetts community while serving at WPI, so it’s a role he’s both familiar with and eager to fill again.
“There have been lots of efforts going on in this region,” Soboyejo says. He envisions a future where the region becomes the east coast counterpart of the Silicon Valley.
“Most importantly is the idea of building community,” he says of how SUNY Poly joins the renaissance. Building community encompasses many things, from forging partnerships with other institutions and businesses, to creating different pathways to attract people to STEM (science, technology, engineering, math) programs.

Those programs play a key role in driving the economy of Central New York today and well into the future, he says, with companies like Wolfspeed right next door to SUNY Poly and Micron Technology coming to the Syracuse area. It’s SUNY Poly’s job to deliver work-ready STEM graduates to those and other companies, Soboyejo stipulates.
To do that, SUNY Poly will step up its programming game with investments in things like and other programs in hopes of increasing interest in STEM degrees across diverse communities, he says.
This is also where collaboration with other institutions will be key, he says. “We can only fill all those positions when we work collaboratively.”
Doubling down on STEM just makes sense, Soboyejo says, especially after the College of Nanoscale Science and Engineering (CNSE) reunified on the University at Albany campus after the college was split for almost a decade between Albany and SUNY Poly’s Marcy campus.
SUNY Poly lost about 120 of its approximately 3,000 students and some faculty during this process earlier this year, Soboyejo says, but the important thing now is to focus on what is left. From artificial intelligence to smart technology, “what’s left is really a tremendous resource for the region,” he contends.
Soboyejo is already working to maximize that, including an initiative to partner with the Air Force Research Laboratory, Griffiss Institute, and other local universities to build a strong group focused on additive manufacturing. The process builds three-dimensional objects by layering. It’s used in numerous industries including automotive, medical, and aerospace.
SUNY Poly is also in talks with Mohawk Valley Health System and other health-care stakeholders so the school can build on its existing strengths in health sciences and explore biomedical engineering programs, Soboyejo says.
“This is a massive opportunity for us,” he says of SUNY Poly’s future.
Soboyejo holds a bachelor’s degree in engineering from King’s College in London and a Ph.D. in materials science and metallurgy from the University of Cambridge. He was a professor of mechanical and aerospace engineering at Princeton University for about 17 years. He started at Worcester Polytechnic Institute as dean of engineering and engineering leadership and also served as interim provost before he was named provost and senior VP in 2019. He also served as president and provost of the African University of Science and Technology in Abuja, Nigeria.
His research focuses on biomaterials and the use of nanoparticles for the detection and treatment of disease, the mechanical properties of materials, and the use of materials science to promote global development.
In 2021, Soboyejo was elected a member of the National Academy of Engineering for his contributions to understanding the dynamic behavior of materials and for leadership in STEM outreach in Africa.

East Syracuse, Binghamton firms win funding in FuzeHub contest
SARATOGA SPRINGS, N.Y. — Startups from Binghamton and East Syracuse won funding investments during the FuzeHub commercialization competition held on Oct. 16-17 in Saratoga Springs. The event was part of this year’s New York State Innovation Summit. Ashlawn Energy, LLC, which operates at the Koffman Southern Tier Incubator in Binghamton, won the top prize of
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
SARATOGA SPRINGS, N.Y. — Startups from Binghamton and East Syracuse won funding investments during the FuzeHub commercialization competition held on Oct. 16-17 in Saratoga Springs.
The event was part of this year’s New York State Innovation Summit.
Ashlawn Energy, LLC, which operates at the Koffman Southern Tier Incubator in Binghamton, won the top prize of $150,000 in the competition. DUB Biologics Inc. of East Syracuse was among six finalists that secured a $50,000 investment.
Startups from Schenectady, Rochester, New York City, and two from Brooklyn were also awarded $50,000 in funding. FuzeHub awarded a total of $450,000 to seven startups during its commercialization competition.
Albany–based FuzeHub is a nonprofit that connects New York’s small-sized and mid-sized manufacturing companies to the resources, programs, and expertise they need for technology commercialization, innovation, and business growth.
FuzeHub is the statewide New York Manufacturing Extension Partnership Program (MEP) center, supported by Empire State Development’s Division of Science, Technology & Innovation (NYSTAR).
“We are proud to work alongside these entrepreneurs and continually support them as they progress on their journeys,” Elena Garuc, executive director of FuzeHub, said in the organization’s news release. “It is so gratifying to see them grow. We are fostering relationships and strengthening the community of people actively pursuing new ways to solve modern problems.”
About the firms’ products
Ashlawn Energy will use its $150,000 as it works to commercialize its VanCharg vanadium flow battery-energy storage system, per FuzeHub.
VanCharg is a rechargeable-battery system that stores power off-peak and uses power at peak times, “reducing energy consumption during peak periods.” This system is described as “safer, [with] a longer life, and a lower cost of ownership than current alternatives.”
The project will implement Ashlawn Energy’s in-house battery stack assembly in Binghamton to boost Ashlawn Energy’s economics, profitability, and “create a key competitive price advantage over other battery technologies, reduce assembly cycle time from one week to one day, and create manufacturing jobs,” the release stated.
DUB Biologics Inc. of East Syracuse will use its $50,000 investment to help commercialize the anti-fibrotic self-delivering siRNAS.
As described in the FuzeHub release, the fundamental underpinning to one-in-three fatalities in the world is fibrosis. DUB Biologics is developing a therapeutic that helps reduce fibrosis, which is also known as scarring. Tissue function is impaired by scarring. For example, scars in the eye contribute to vision loss. DUB Biologics’ therapeutic aims to “return function to functional tissues.”
Besides the FuzeHub funding, DUB Biologics also won the top prize of $50,000 at the SUNY Start Up Summer School (S4) Demo Day, per an Aug. 16 news release on the website of Upstate Medical University. In that announcement, DUB Biologics is also described as an Upstate Medical University–based startup.
Headed by co-founders Audrey Bernstein, a professor at Upstate Medical, and Research Associate Tere Williams, DUB Biologics is creating a siRNA therapeutic that could prevent corneal scarring and inflammation and revolutionize the treatment of corneal injuries, per Upstate.
VIEWPOINT: Automated Lead Nurturing
An essential tool in today’s marketing toolkit The majority of high-quality leads received through a company’s website never receive a response. Among the leads that do get a response, 78 percent take more than an hour to respond to. Research suggests we will lose a customers’ attention unless they receive a response in five minutes
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
An essential tool in today’s marketing toolkit
The majority of high-quality leads received through a company’s website never receive a response. Among the leads that do get a response, 78 percent take more than an hour to respond to. Research suggests we will lose a customers’ attention unless they receive a response in five minutes or less.
The need to respond to potential new customers and clients quickly, while you have their attention, is critical. We’re talking minutes, not hours.
The main obstacle: Ourselves. Humans have limited bandwidth, limited time to respond, and in many cases too many leads to pursue. As new digital tools emerge to transform how marketers do business, perhaps no innovation has been more powerful than automated lead nurturing. It provides instant acknowledgement to your leads and takes one thing off your to-do list.
The power of forms
Forms, which typically live on an app or website’s landing page, can gather leads for you and transport that information somewhere you can put it to use. A form can take in a wide variety of information such as: first name, last name, email, phone number, reason for reaching out, specific interests, or what company with which that lead is associated.
Each of these fields can be tailored to the specific needs of your organization. Ask for as little or as much information as you need to perform the next action. Keep in mind that every time you tack on an additional field to a form, you reduce the chance that form will be completed. Only ask for what is essential to know. If you’d like to gather more information from a lead, you can always do so through a future campaign.
The best part of a form: everyone who fills it out can receive an immediate response via email, text, or direct, custom-made message.
Best practices
A few best practices will keep your forms compliant with the relevant legal restrictions and guidelines and increase your chances of engagement.
1. Be transparent about your data collection. A person’s data is valuable. Your organization knows that, and a potential lead also knows that. It is people’s right to keep their information private, and what you can do with their data is bound by legal restrictions. Marketers will be surprised to learn that 84 percent of consumers are more likely to share information with brands that have transparent data practices and policies. Be deliberate in what you’re asking them for, and let your potential leads know how you’re going to use that data to benefit them.
2. Make it clear if they’re opting into marketing material. Whether it’s print, email, SMS, or another medium, you must be explicit with your potential leads if they will be opting into some form of marketing messaging. Typically, this is done through a check box at the bottom of the form, which can be checked by default. Users can uncheck that box to refrain from opting into marketing messages. In this way you can still collect information, even if they don’t want to receive messaging.
3. Use form-data authentication. Data is a precious resource and should be treated as such. If you have a few good contacts in a sea of invalid emails and spam accounts, your lead generation becomes essentially useless. Use tools like CAPTCHA to ensure that whoever is submitting to your form is a legitimate lead and not a bot. Use built-in form validation or regex to ensure that an email follows the correct format, or a phone number is the correct number of digits. It’s easy for contacts to fat finger a field when they’re in a rush. Once that data is submitted, it can be difficult to correct, especially if a bad email was submitted. The contact record is essentially rendered useless.
Next steps
The next step in automated lead nurturing is a critical one: the first communication from your organization to the new lead. Putting considerable thought into your welcome email is crucial. Why? Welcome emails have some of the highest open rates of 50 percent, on average. In other words, they’re 86 percent more effective than standard email campaigns.
A well-crafted message can create an exceptional customer experience and ensure your leads are getting the follow-up they deserve. Even if the message is automatically generated and sent through a software script, it needs to reflect the tone of your organization — including the sales personnel your new lead will ideally interact with in the near future.
Think of this process like a funnel. The automated forms collect all your potential leads into the funnel. The initial message keeps your new lead engaged — in effect, keeps them in the funnel — and can help you direct them to the most appropriate sales personnel, depending on how and why they filled out your form in the first place.
The initial, automatically generated message effectively buys time for your sales personnel to reach out to the new lead, while also minimizing their workload so they can focus on bottom-of-the-funnel interactions.
A well-executed funnel translates to more qualified leads. Research shows that lead nurturing can elicit as much as 50 percent more sales-ready leads at a 33 percent lower cost. In essence, the more effort you put in, the easier it will be to close new customers. For organizations that have not invested in automated lead nurturing, the imperative is clear.
Erik Michal is the marketing-automation manager at ddm marketing + communications, a B2B digital-marketing agency for highly complex and highly regulated industries. He provides email and marketing-automation leadership and industry expertise to ddm’s clients.

MVCC names conference room after trustee emeritus
ROME, N.Y. — The Mohawk Valley Community College (MVCC) Foundation hosted a ceremony on Nov. 2 to name the conference room in the Plumley Complex at the college’s Rome campus after Russel C. Fielding, a trustee emeritus and 2023 MVCC Hall of Fame inductee. Fielding named the foundation in his will when he died in
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
ROME, N.Y. — The Mohawk Valley Community College (MVCC) Foundation hosted a ceremony on Nov. 2 to name the conference room in the Plumley Complex at the college’s Rome campus after Russel C. Fielding, a trustee emeritus and 2023 MVCC Hall of Fame inductee.
Fielding named the foundation in his will when he died in February 2021 with a gift of $50,000 that benefits its Areas of Greatest Need Fund. This fund enables rapid response to shifting community needs.
“Russel C. Fielding not only served our country but dedicated much of his life to supporting and serving his local community,” Deanna Ferro-Aurience, executive director of the MVCC Foundation and institutional advancement, said in a press release following the event. “Mr. Fielding’s impact on MVCC continues to be felt, and we are pleased to be here today to honor Mr. Fielding with the naming of this room on the MVCC Rome campus.”
Fielding served as treasurer of the MVCC Foundation board in 1962 and joined the college’s board of trustees in October 1970. He acted as board chair from September 1972 until August 1977.
He served in the U.S. Army during World War II and the Korean War before returning home and working for nearly 40 years at the Rome Sentinel. Fielding also handled multiple fundraising campaigns for local nonprofits. He served as Rome’s public safety commissioner and director of the Rome Area Chamber of Commerce and also served on numerous boards for community, educational, and corporate organizations.

Banker tells small businesses: look to us for resources
“There are a lot of resources business owners can take advantage of,” says Benjamin Conger, a business banker at Community Bank, N.A., which is based in DeWitt and operates more than 200 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts. Many of those resources are available right at the bank, he adds.
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
“There are a lot of resources business owners can take advantage of,” says Benjamin Conger, a business banker at Community Bank, N.A., which is based in DeWitt and operates more than 200 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts.
Many of those resources are available right at the bank, he adds.
“It’s a lot more than just opening up a deposit account and using their debit card,” he says. Community Bank, like many others, features a full commercial-banking team, which brings a wealth of experience and knowledge to business customers.
Some of the resources Community Bank offers business customers include fraud-protection services, online invoicing, online payroll, and merchant services, Conger says. He and his team members work with businesses to help them tailor the services that best suit their needs.
“It’s just presenting them with all these ideas and trying to streamline from there,” he says.
Sometimes, the best resources are found elsewhere, and that’s where the team’s knowledge comes into play to direct customers to them, Conger notes.
Just having someone who can tell them about various business-lending programs — like the U.S. Small Business Administration’s (SBA) 504 program — is a huge benefit to business owners. That program, which can be used to purchase an owner-occupied building or for equipment, offers a lower down-payment option for most qualified borrowers, allowing a business to preserve more of its working capital, Conger says.
“Most business owners, when I first mention it to them, they’ve never heard of it before,” he says. “It’s just a fantastic program.”
Other resources out there for small businesses include regional Small Business Development Centers (SBDCs) located around the state, the WISE Women’s Business Center in Syracuse, and SCORE.
WISE offers services including one-on-one business counseling, training on small-business topics, and networking for women entrepreneurs.
SCORE, a resource partner of the SBA, has more than 10,000 volunteers around the country that provide services free business mentoring. Other services include workshops, training sessions, and a library of online resources.
In the end, Conger says, it’s all about connecting business owners with the best resources out there to suit their needs.
“We’re always trying to think of ways we can help them.”

State pension fund commits $50M to NY small business investment fund
ALBANY, N.Y. — The New York State Common Retirement Fund has committed $50 million to a private-equity fund that will support small businesses across New York, State Comptroller Thomas P. DiNapoli, trustee of the Common Retirement Fund, announced Nov. 7. The private-equity fund will be managed by Hamilton Lane, which is headquartered near Philadelphia, Pennsylvania.
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
ALBANY, N.Y. — The New York State Common Retirement Fund has committed $50 million to a private-equity fund that will support small businesses across New York, State Comptroller Thomas P. DiNapoli, trustee of the Common Retirement Fund, announced Nov. 7.
The private-equity fund will be managed by Hamilton Lane, which is headquartered near Philadelphia, Pennsylvania. The state pension fund’s $50 million commitment provided the anchor investment in the New York Small Business Investment Company (SBIC) Fund II L.P., managed by Hamilton Lane, according to a news release from the state comptroller’s office.
The SBIC Fund II has about $150 million in total committed capital to support small businesses throughout the state. Six regional and national banks have also committed to the fund, which is now positioned to make its first investments, DiNapoli’s office said.
The SBIC Fund II was launched in 2022 and is built upon the success of Hamilton Lane’s first SBIC offering, the New York SBIC Fund I, launched in 2015, also with an investment of $50 million from the pension fund.
The fund will provide credit, mezzanine, and equity investments to small businesses based in New York or with significant operations in the state. The fund, managed under the SBIC program established by the US Small Business Administration (SBA), will invest in businesses across a variety of industries, including manufacturing, business services, health care, technology, and broader industrials.
The New York SBIC Fund II fund investment is part of DiNapoli’s broader In-State Private Equity Investment Program, his office noted.
The pension fund has invested more than $1.7 billion in more than 500 companies over the past 20 years. It is one of the largest and longest running of any home state focused pension investment program in the U.S., per DiNapoli’s office.
As of March 31, 2023, the In-State program has returned more than $1.8 billion on $1 billion invested in 292 exited transactions.
“The state pension fund continues to help New York’s small businesses expand and excel,” DiNapoli said in the release. “We’ve joined with major banks to provide the financing New York’s start-up companies need to grow their businesses. These investments aim to generate returns for the pension fund, while helping to boost our state’s economy and businesses that call New York home.”
The New York State Common Retirement Fund is one of the largest public pension funds in the U.S. The fund holds and invests the assets of the New York State and local retirement system on behalf of more than 1 million state and local-government employees and retirees and their beneficiaries.

Baldwinsville coaching business certified as SDVOB
New York State Office of General Services (OGS) Commissioner Jeanette Moy recently announced that 27 businesses across the state were certified as service-disabled veteran-owned businesses (SDVOB), including one small firm in Baldwinsville. The New York OGS Division of Service-Disabled Veterans’ Business Development (DSDVBD) issued the certification to James J. Muscatello, a Baldwinsville business that specializes
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
Click here to purchase a paywall bypass link for this article.
New York State Office of General Services (OGS) Commissioner Jeanette Moy recently announced that 27 businesses across the state were certified as service-disabled veteran-owned businesses (SDVOB), including one small firm in Baldwinsville.
The New York OGS Division of Service-Disabled Veterans’ Business Development (DSDVBD) issued the certification to James J. Muscatello, a Baldwinsville business that specializes in leadership coaching, personal development, sourcing, and procurement consulting services. Transworld of Mohawk Valley West, a business advisory firm located in Liverpool, was another Central New York business that was among the 27 newly certified businesses across that the state announced by the OGS on Oct. 3.
The DSDVBD was created by New York State government in May 2014 through enactment of the Service-Disabled Veteran-Owned Business Act. The state had 1,163 certified businesses, as of Oct. 3.
For a business to receive certification, one or more service-disabled veterans — with a service-connected disability rating of 10 percent or more from the U.S. Department of Veterans Affairs (or from the New York State Division of Veterans’ Affairs for National Guard veterans) — must own at least 51 percent of the company. Other criteria include: the business must be independently owned and operated and have a significant business presence in New York, it must have conducted business for at least one year prior to the application date, and it must qualify as a small business under the New York State program. Several more requirements also need to be met.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.