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People news: AmeriCU Investment Services adds virtual financial advisor
ROME, N.Y. — AmeriCU Credit Union announced it has added David Brown to the AmeriCU Investment Services staff as a virtual financial advisor — serving
The Importance of Relationship Banking for Small Business Success
Small business owners wear many hats. Each day can bring on new challenges requiring valuable time and focus – especially in the competitive economic environment

Indium Corp. announces apprenticeship-program graduates
UTICA, N.Y. — Indium Corporation recently celebrated the first eight graduates of its apprenticeship program with an Oct. 18 event at the company’s facility at Lincoln Avenue in Utica. Representatives from external program partners, including MACNY – The Manufacturers Association of Central New York and Mohawk Valley Community College (MVCC), were also on hand. Launched
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UTICA, N.Y. — Indium Corporation recently celebrated the first eight graduates of its apprenticeship program with an Oct. 18 event at the company’s facility at Lincoln Avenue in Utica.
Representatives from external program partners, including MACNY – The Manufacturers Association of Central New York and Mohawk Valley Community College (MVCC), were also on hand.
Launched in 2021 in partnership with MACNY, MVCC, the National Institute for Innovation and Technology (NIIT), and SUNY Polytechnic Institute, the apprenticeship program offers select employees an opportunity for on-the-job training while also working toward earning professional certificates and college credits.
“On behalf of more than 1,400 team members worldwide, we are tremendously proud of the accomplishments of our pioneer apprentices,” Indium President/COO Ross Berntson said in a release. “The New York State Apprenticeship Program aligns with Indium Corporation’s dedication to developing our workforce, enabling them to excel in their current roles and also to meet the evolving demands of the advanced manufacturing sector, particularly within the semiconductor industry.”
Nine additional team members are set to graduate this coming winter.
Indium is a materials refiner, smelter, manufacturer, and supplier to the electronics, semiconductor, thin-film, and thermal-management markets. Founded in 1934 and headquartered in Clinton, the company has technical-support facilities and factories in China, Germany, India, Malaysia, Singapore, South Korea, the United Kingdom, and the U.S.
Jefferson County hotels see drop in guests in September
WATERTOWN, N.Y. — Jefferson County hotels registered an almost 6 percent decline in overnight guests in September, but two other indicators of hotel-business performance improved. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 5.9 percent to 57.6 percent in the ninth month of 2023 from September 2022, according
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WATERTOWN, N.Y. — Jefferson County hotels registered an almost 6 percent decline in overnight guests in September, but two other indicators of hotel-business performance improved.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county fell 5.9 percent to 57.6 percent in the ninth month of 2023 from September 2022, according to STR, a Tennessee–based hotel market data and analytics company. Year to date through September, occupancy was down 6.2 percent to 53.8 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, inched up 0.6 percent to $69.25 in September, compared to the year-prior month. Through the first nine months of 2023, RevPar has fallen 1.7 percent to $63.37.
Average daily rate (ADR), which represents the average rental rate for a sold room, increased 7 percent to $120.22 in September from the same month in 2022. Year to date, ADR is up 4.8 percent to $117.88.

Broome County hotel occupancy rises in September
BINGHAMTON, N.Y. — Broome County hotels posted an increase in guests in September compared to the year-earlier month, while two other business indicators were mixed. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 2.9 percent to 65.4 percent in the ninth month of 2023 versus September 2022. Year
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BINGHAMTON, N.Y. — Broome County hotels posted an increase in guests in September compared to the year-earlier month, while two other business indicators were mixed.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 2.9 percent to 65.4 percent in the ninth month of 2023 versus September 2022. Year to date through September, occupancy was down 1.4 percent to 60.1 percent.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, increased 2.5 percent to $75.80 in September compared to the year-ago month. Through the first nine months of this year, RevPar in Broome County was up 3.5 percent to $68.76.
Average daily rate (ADR), which represents the average rental rate for a sold room, slipped 0.4 percent to $115.89 in the county this September, versus the same month in 2022. So far this year through Sept. 30, ADR was up 4.9 percent to $114.45.

Lockheed Martin’s suburban Syracuse plant wins more than $46M radar contract from U.S. Navy
SALINA, N.Y. — Lockheed Martin Rotary and Mission Systems in Salina was recently awarded a more than $46.4 million contract from the U.S. Navy for the digital expanded, ultra-high frequency, multiple input, multiple output optimized radar. This cost-plus-fixed-fee contract provides for the development of advanced radar-technology solutions applicable to both next-generation platforms and current generation
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SALINA, N.Y. — Lockheed Martin Rotary and Mission Systems in Salina was recently awarded a more than $46.4 million contract from the U.S. Navy for the digital expanded, ultra-high frequency, multiple input, multiple output optimized radar.
This cost-plus-fixed-fee contract provides for the development of advanced radar-technology solutions applicable to both next-generation platforms and current generation platforms (such as the E-2D), according to a Sept. 19 contract announcement from the U.S. Department of Defense. To support a rapid pace of development, the contractor will leverage, build-upon, and/or integrate available technologies from other programs including the Office of Naval Research (ONR). This initiative centers on maturing high-value radar technologies to a state enabling transfer to one or more programs of record for integration onto naval airborne platforms, the Department of Defense said.
Work will be performed in Salina, and is expected to be completed in September 2027. The total cumulative value of the pact — including a 48-month base period and three 28-month option periods that, when exercised, will run concurrently with the base period — is $46,415,206, the contract announcement stated.
Fiscal 2023 research, development, test, and evaluation (Navy) funds totaling more than $8.4 million are obligated at the time of award and will not expire at the end of the current fiscal year, the Department of Defense stated. The ONR in Arlington, Virginia, is the contracting authority.

Buffalo-Rochester-Syracuse region to pursue huge federal investment
DeWITT — Now that Buffalo-Rochester-Syracuse has a federal Tech Hub designation that was created in the CHIPS & Science Act, the next step is to pursue the funding. With the designation, the region will now be in an “exclusive group of only 31 regions in America to compete for potentially billions in federal funding to
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DeWITT — Now that Buffalo-Rochester-Syracuse has a federal Tech Hub designation that was created in the CHIPS & Science Act, the next step is to pursue the funding.
With the designation, the region will now be in an “exclusive group of only 31 regions in America to compete for potentially billions in federal funding to transform Upstate NY as a global hub for workforce training, innovation, and manufacturing of semiconductor technology,” per the Oct. 23 announcement from the office of U.S. Senate Majority Leader Charles Schumer (D–N.Y.).
The region’s proposal — called the NY SMART I-Corridor Tech Hub — will build on the investments that have “spurred a boom” in semiconductor manufacturing and innovation across upstate New York, Schumer’s office said.
Schumer (D–N.Y.) announced the designation during an Oct. 23 visit to Saab Defense and Security at 5717 Enterprise Pkwy in DeWitt.
The Democrat sees the tech-hub designation as “putting Upstate NY further on the road to becoming America’s semiconductor superhighway.”
“There’s an application as to here’s what we’d use the money for, and they have a lot of good uses. We’ve discussed them,” Schumer said in answering a reporter’s question. “I’ll leave it to them to make that public when the application is actually filed.”
Schumer said he’s working hard to secure the funding, and he would call himself “very optimistic” that the regional tech hub will get it.
NY SMART I-Corridor is short for New York Semiconductor Manufacturing and Research Technology Innovation Corridor.
The NY SMART I-Corridor Tech Hub proposal will now be able to compete for the next phase of the Tech Hubs program that will invest between $50 million and $75 million in each of 5 to 10 designated hubs.
“This is an amazing, seminal, turnaround day for Central New York and upstate New York,” Schumer said to open his remarks at the event at Saab. “I am thrilled to announce that thanks to the CHIPS & Science Act, which I authored, the Buffalo-Rochester-Syracuse region has just been designated one of the first federal tech hubs in America and we will transform the I-90 corridor into the semiconductor superhighway.”
What it means
As Schumer’s office explained it, the NY SMART I-Corridor Tech Hub proposal seeks to propel the Buffalo-Rochester-Syracuse corridor by attracting new suppliers to the region, including onshoring companies from overseas; advancing research & development programs for the semiconductor industry; training the next generation of upstate New York’s manufacturing workforce; and “specifically helping ensure that underserved populations are connected to the tens thousands of good-paying jobs expected to be created in this growing industry in the region.”
Schumer said that with this designation, the NY SMART I-Corridor will bring together the combined assets of Buffalo, Rochester and Syracuse to help the region become a “globally recognized” semiconductor-manufacturing hub in the next decade, with innovation focused on “improving the quality and quantity” of semiconductor manufacturing and, along with it, augmenting the region’s microelectronics and microchip supply chain ecosystem.
The Buffalo-Rochester-Syracuse consortium includes more than 80 members from across the public sector, industry, higher-ed, economic and workforce development, and labor. This includes over 22 industry groups and firms, 20 economic-development organizations, eight labor & workforce training organizations, and 10 institutions of higher learning.
This application-development process was led by three designated conveners, one from each region: The John R. Oishei Foundation in Buffalo, ROC2025 in Rochester, and CenterState CEO in Syracuse.
In his remarks, Robert Simpson, president and CEO of CenterState CEO, acknowledged all those involved from the business and higher-education sectors who have been working toward this goal a long time.
“What is so exciting about the tech hubs opportunity is that we’re taking that same mindset of collaboration and partnering with Rochester, and with Ithaca, and with Buffalo,” Simpson said in his remarks. “And together, we are being reminded that when we work together, we win.”
Sanjay Mehrotra, CEO of Boise, Idaho–based Micron Technologies Inc. (NASDAQ: MU) told the gathering that he’s “very excited” to see the region secure the designation as a tech hub.
Micron on Oct. 4, 2022 announced it would build the largest semiconductor facility in the U.S. in the White Pine Commerce Park in the town of Clay. Micron plans to invest more than $100 billion over the next two decades building a semiconductor campus that will employ 50,000 people.
“We anticipated that our $100 billion investment would help inspire other technology leaders to choose New York. In fact, we see the [opportunity] for a 300-mile tech corridor stretching from Buffalo to Hudson Valley and even to New York City,” Mehrotra said.
Besides Mehrotra and Simpson, several additional local government, higher education, and business leaders joined Schumer for the announcement. They included Erik Smith, president and CEO of Saab U.S.; Catherine Gridley, executive VP and president of aerospace at TTM Technologies in DeWitt; Mike Haynie, vice chancellor of Syracuse University; Warren Hilton, president of Onondaga Community College; Onondaga County Executive Ryan McMahon, Syracuse Mayor Ben Walsh, and Greg Lancette, president of the Central and Northern New York Building and Construction Trades Council.

New York home sales slip more than 22 percent in September
ALBANY, N.Y. — New York realtors sold 9,564 previously owned homes in September, a decline of 22.5 percent from the 12,335 existing homes sold in September 2022. Pending sales also fell more than 8 percent in the ninth month of 2023, pointing to further declines in closed home sales in the next couple months. The
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ALBANY, N.Y. — New York realtors sold 9,564 previously owned homes in September, a decline of 22.5 percent from the 12,335 existing homes sold in September 2022.
Pending sales also fell more than 8 percent in the ninth month of 2023, pointing to further declines in closed home sales in the next couple months.
The data comes from the September monthly housing report that the New York Association of Realtors (NYSAR) issued on Oct. 19.
“Mortgage rates reached their highest point in over two decades while inventory continues to dwindle across the Empire State,” NYSAR said to open its housing report.
NYSAR cited Freddie Mac as indicating interest rates finished September at 7.31 percent on a 30-year fixed-rate mortgage. This is the highest level since the year 2000. In the latest month, the average on a 30-year fixed rate mortgage rose from a 7.07 percent average in August to 7.20 percent in September.
New York sales data
New listings of homes for sale fell 10.2 percent to 12,592 this September from 14,017 in the year-ago month, per NYSAR’s data.
Pending sales totaled 9,232 in September, off 8.1 percent from 10,049 pending sales in September 2022.
Home prices continued to climb amid the tight inventory. The September 2023 statewide median sales price was $390,000, up 6.8 percent from the year-ago median sales price of $365,000.
The months supply of homes for sale at the end of September stood at 3.1 months, down more than 9 percent from 3.4 months at the end of September 2022, per NYSAR’s report. A 6-month to 6.5-month supply is considered a balanced market, the association said.
The total inventory of homes for sale totaled 28,943 in September, down 24 percent compared to the September 2022 figure of 38,082. It marks 47 straight months that the number of homes available for sale has fallen in year-over-year comparisons, NYSAR said.
All home-sales data is compiled from multiple-listing services in New York, and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.

Pinkies Dog House opens for business near Binghamton
CHENANGO, N.Y. — Dan Napierala is getting back to his culinary roots with his latest restaurant venture Pinkies Dog House, which opened on Oct. 17 at 1237 Upper Front St. in the town of Chenango, north of Binghamton. Months in the making, the hot dog restaurant takes over the space previously occupied by Pinkies Bakery
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CHENANGO, N.Y. — Dan Napierala is getting back to his culinary roots with his latest restaurant venture Pinkies Dog House, which opened on Oct. 17 at 1237 Upper Front St. in the town of Chenango, north of Binghamton.
Months in the making, the hot dog restaurant takes over the space previously occupied by Pinkies Bakery & Cafe before the bakery moved to the former Friendly’s restaurant at 1148 Upper Front St. Both locations are less than half a mile away from Napierala’s original restaurant, Pinkies BBQ at 1166 Upper Front St.
Napierala’s first venture into the restaurant world was when he operated a hot dog cart about 25 or 30 years ago, he recalls. After spending some time in the corporate world, he felt his family’s roots in the food industry calling him. His grandfather and uncle owned a meat market and butcher shop in the Binghamton area.
In 2010, he decided to answer the request for hot food at an area farmer’s market by opening the Hilltop BBQ food truck. The truck was well-received and, in 2017, Napierala and his wife and business partner, Rachel Richmond, decided to open a brick-and-mortar restaurant. The eateries operate under Pinkies Barbeque and Catering LLC.
“Things were going along well,” he says of Pinkies BBQ, so the couple began talking about opening another business. Richmond has a culinary background, specifically in baking, so the pair signed a lease in the fall of 2019 with plans to open Pinkies Bakery & Cafe the following spring. Less than two weeks after the bakery opened in March 2020, much of the state shuttered amid the COVID pandemic.
The bakery was eventually able to fully open and really took off, Napierala says. “We quickly outgrew the space,” he says. “It was pretty small.” When the opportunity arose about a year and a half ago to lease the former Friendly’s location, he jumped on it. After more than $100,000 in renovations and additional investment in new doughnut-making equipment, Pinkies Bakery & Cafe moved in October 2022.
Pinkies still held the lease on the bakery’s old location, Napierala says, so it just made sense to dream up a third concept to fill that spot. “We thought, ‘Hey, let’s do a hot dog joint,’” he recalls. “Most people love a hot dog.”
Work to prep the site was minimal and mostly involved moving in equipment Pinkies already owned, he says. The décor was updated with a fun pop-art feel. Napierala also added a self-order kiosk.
“It was a hard decision for me because I’m big on customer service,” he says of the kiosk. The decision was a business one, especially since it’s hard to find employees, he says. Customers have received it well, and he’s considering adding a second kiosk.
Rather than just your basic dogs, Pinkies puts a spin on things, serving up specialty dogs including a Chicago dog with ingredients brought in from Chicago. A Korean dog adds kimchi and gochujang sauce and the Pinkies cowboy dog features Pinkies BBQ pulled pork and barbecue sauce. The restaurant also serves a variety of poutine dishes.
“We’re taking a simple thing and just elevating it,” Napierala says. He follows the same concept at all his locations. The bakery is known for its over-the-top doughnut creations.
Food can bring back memories, he says, recalling how his mother brought him along shopping on Saturdays when he was a child.
“If we were good, we’d stop at this one bakery and get a brownie or a halfmoon cookie,” he says. “We’re trying to create memories for a new generation.”
Between the three restaurants, Pinkies employs between 25 and 30 people and is looking to hire more staff.

Lockheed Martin to pay Q4 dividend of $3.15 per share in late December
The Lockheed Martin Corp. (NYSE: LMT) board of directors has declared a fourth-quarter, 2023 dividend of $3.15 a share. The dividend is payable on Dec. 29, to holders of record as of the close of business on Dec. 1, according to an Oct. 6 company news release. At Lockheed’s current stock price, the dividend yields
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The Lockheed Martin Corp. (NYSE: LMT) board of directors has declared a fourth-quarter, 2023 dividend of $3.15 a share.
The dividend is payable on Dec. 29, to holders of record as of the close of business on Dec. 1, according to an Oct. 6 company news release. At Lockheed’s current stock price, the dividend yields about 2.9 percent on an annual basis.
This marks the 21st straight year of dividend increases for the defense contractor.
Lockheed also announced that its board has authorized the purchase of up to an additional $6 billion of the company’s common stock under its share-repurchase program. That nearly doubled total authorization of the current stock-buyback program to $13 billion for future purchases. The number of shares bought and the timing of purchases are at the discretion of Lockheed management and subject to compliance with applicable laws and regulations, the release stated.
Lockheed Martin — a Bethesda, Maryland–based global security and aerospace company — has two plants in Central New York, in Salina and in Owego, respectively. The firm has about 116,000 workers worldwide, primarily engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services.
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