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

Crews complete work on Monarch Commons, $15M senior-housing development in Cicero
CICERO, N.Y. — Crews have completed work on the $15 million Monarch Commons, a 50-unit housing development for seniors at 8701 Knowledge Lane (formerly 8697

People news: Eastup joins George Group at Baird’s Utica office
UTICA, N.Y. —Baird announced it has added Dalton Eastup as a financial advisor to the George Group, part of its Utica private wealth-management office. Eastup

Oneida County awards $250K in funding for Rome skatepark project
ROME, N.Y. — Oneida County has awarded $250,000 in American Rescue Plan Act (ARPA) funding to assist in the construction of a skatepark in Rome

City of Syracuse to host BIPOC developer summit on Wednesday
SYRACUSE, N.Y. — The City of Syracuse will host a Black, Indigenous, People of Color (BIPOC) Developer Summit to support diverse real estate development in

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