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

The Pay Transparency Laws Become Effective On September 17th. Are You Ready?
Later this month New York will join a handful of States in the US which require greater transparency in wages. In December 2022, the Governor

Carthage, Ogdensburg hospitals probe cyberattack
CARTHAGE, N.Y. — Carthage Area Hospital and Claxton-Hepburn Medical Center in Ogdensburg say their information technology (IT) teams worked through the weekend to stabilize all

MMRI receives $200,000 in funding for lupus research
UTICA, N.Y. — The Lupus and Allied Disease Association, Inc. (LADA) recently awarded the Masonic Medical Research Institute (MMRI) $200,000 for four research projects at

Ithaca nonprofit to use Guthrie program grant funding for clinical-internship program
ITHACA, N.Y. — Family & Children’s Service of Ithaca will use a grant of $5,000 for its clinical-internship program. The program provides mental-health interns with

Inflation and Insurance Rates: How to Offset the Impact
Many industries have been hit by inflation where it hurts the most, our pockets. Inflation is raising the price of goods and services including food,

New York home sales plunge nearly 25 percent in July
ALBANY, N.Y. — New York realtors sold 9,381 previously owned homes in July, down 24.9 percent from the 12,487 existing homes sold in July 2022. Pending sales also fell almost 11 percent, foreshadowing further declines in closed home sales in the next couple months. The data comes from the July monthly housing report that the
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. — New York realtors sold 9,381 previously owned homes in July, down 24.9 percent from the 12,487 existing homes sold in July 2022.
Pending sales also fell almost 11 percent, foreshadowing further declines in closed home sales in the next couple months.
The data comes from the July monthly housing report that the New York State Association of Realtors (NYSAR) issued on Aug. 22.
“Mortgage rates continued to climb in August, nearing seven percent, while the inventory of homes across New York State continued to drop to near record lows,” NYSAR said to open its housing report.
The monthly average on a 30-year fixed-rate mortgage rose from 6.71 percent in June to an average of 6.84 percent in July, according to Freddie Mac data. A year ago, at this time, the average monthly rate was 5.41 percent. Freddie Mac is the more common way of referring to the Virginia–based Federal Home Loan Mortgage Corporation.
New listings in New York state fell 18.6 percent to 13,320 in July from 16,366 a year prior. Pending sales totaled 10,326 in July, a decrease of 10.8 percent from the 11,572 pending sales in the same month in 2022, according to the NYSAR data.
The July 2023 statewide median sales price was $400,000, down 2 percent from the July 2022 median sales price of $408,000.
The months’ supply of homes for sale at the end of July stood at 3 months, down nearly 12 percent from the 3.4 months’ supply at the end of July 2022, per NYSAR’s data. A 6 month to 6.5-month supply is considered a balanced market, the association said.
The inventory of homes for sale totaled 27,911 in July, down more than 28 percent from the July 2022 figure of 38,969. It marks 45 straight months that the number of homes available 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.

CenterState CEO launches Career Apprenticeship Initiative
It’s modeled on a Canadian program SYRACUSE, N.Y. — A new local program seeks to keep Central New York college graduates in the
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.
It’s modeled on a Canadian program
SYRACUSE, N.Y. — A new local program seeks to keep Central New York college graduates in the region to begin their careers.
CenterState CEO is working with Alan Rottenberg, founder of the Canadian Career Apprenticeship Initiative, and the Kingston Economic Development Corporation (KEDCO) on the program called the Career Apprenticeship Initiative (CAI).
The pilot program offers Central New York graduates, with a focus on liberal-arts grads, a one-year apprenticeship with regional employers. Organizations are offered a $7,500 salary reimbursement for agreeing to hire and train the student for a year. Thus far, the initiative has brought together six employers and students, with plans to continue the program in the next year.
Syracuse is the first pilot of the program in the U.S., CenterState CEO noted.
It is modeled on a similar program, funded by the Canadian Career Apprenticeship Initiative, which has operated successfully in Canada for several years. The Canadian program model has shown that participating cities retain “motivated, competent, and capable” university graduates who might otherwise depart for bigger cities in search of work.
“This region is a major producer of college educated graduates — there are approximately 140,000 students who attend college here every year (1 in every 10 CNY residents is a college student), with students coming from all over the world to attend college here. However, most of them leave after graduation, despite the significant level of employment opportunities here,” Robert Simpson, president of CenterState CEO, said. “With Micron and its suppliers soon to join our community, and nearly 7,000 professional and technical opportunities from over 240 employers listed on The Good Life CNY website (the highest it’s ever been), it’s imperative we find new, creative ways of sourcing the talent our employers need.”
The employers participating in the pilot program this year include Excellus BlueCross BlueShield, INFICON, American Food & Vending, SUNY Upstate Medical University, Syracuse Housing Authority, and Community Bank, N.A.
“Liberal arts graduates are often overlooked by employers. These students pursued their passion in college and learned skills through creative expression, but often struggle at the critical juncture between school and finding a pathway to a career,” Rottenberg said in a CenterState CEO release. “Many can remain unemployed, or underemployed for months or years post-graduation and ultimately leave communities looking for more opportunities in large centers. However, we have found that 90 percent of the participants who successfully complete the apprenticeship are retained by their employers, and the graduates stay in the communities after the apprenticeship ends.”
CNY regional job growth was mixed in the last year
3 regions added jobs, while 3 lost them Half the Central New York regions gained jobs in the past year while the other half shed positions, according to a recent state-government report. The Syracuse, Binghamton, and Ithaca areas gained jobs between July 2022 and this past July. At the same time, the Utica–Rome, Watertown–Fort Drum,
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.
3 regions added jobs, while 3 lost them
Half the Central New York regions gained jobs in the past year while the other half shed positions, according to a recent state-government report.
The Syracuse, Binghamton, and Ithaca areas gained jobs between July 2022 and this past July. At the same time, the Utica–Rome, Watertown–Fort Drum, and Elmira regions lost jobs in that one-year period.
That’s according to the latest monthly employment report that the New York State Department of Labor issued on Aug. 17.
July jobs data
The Syracuse region gained 5,100 total jobs between July 2022 and July 2023, an increase of 1.6 percent.
The Utica–Rome metro area lost 300 jobs, a 0.2 percent drop; the Watertown–Fort Drum region also shed 300 positions, a 0.7 percent decline; the Binghamton area gained 400 jobs, up 0.4 percent; the Ithaca region added 1,800 positions, a 3 percent jump; and the Elmira metro area subtracted 300 jobs in the last year, a decline of 0.9 percent.
New York state as a whole added 144,900 jobs, an increase of 1.5 percent, between July 2022 and this July.

Five Star Bank parent company to pay Q3 dividend of 30 cents a share in early October
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently announced that its board of directors has approved a quarterly cash dividend of 30 cents per common share outstanding. The banking company will pay the third-quarter dividend on Oct. 2, to shareholders of record on Sept. 14. At Financial Institutions’
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.
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently announced that its board of directors has approved a quarterly cash dividend of 30 cents per common share outstanding.
The banking company will pay the third-quarter dividend on Oct. 2, to shareholders of record on Sept. 14.
At Financial Institutions’ current stock price, the dividend yields about 6.8 percent on an annual basis.
Five Star Bank, based in Warsaw in Wyoming County, has about 50 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Waterloo, Geneva, Ovid, Horseheads, and Elmira.
Five Star Bank recently expanded into the Syracuse market with a new commercial-loan production office at 115 Solar St. in the city’s Franklin Square area.
Financial Institutions, Inc. has about $6.1 billion in assets, offering banking, insurance, and wealth-management products and services through a network of subsidiaries.

SU’s CPS to offer Google’s new cybersecurity certificate
SYRACUSE — Google’s new cybersecurity certificate is now among the offerings through Syracuse University’s (SU) College of Professional Studies (CPS). The Google career certificates prepare students for in-demand fields that include cybersecurity, data analytics, IT (information technology) support, project management and UX design — “with no experience required,” Syracuse said. The instruction will equip students
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 — Google’s new cybersecurity certificate is now among the offerings through Syracuse University’s (SU) College of Professional Studies (CPS).
The Google career certificates prepare students for in-demand fields that include cybersecurity, data analytics, IT (information technology) support, project management and UX design — “with no experience required,” Syracuse said.
The instruction will equip students with job-ready skills as they pursue their degree, while also connecting them to career resources and a network of more than 150 companies through the program’s employer consortium.
“The certificate programs from Google are structured to address the skills gap being experienced by a number of employers,” Arthur Thomas, executive director of the Office of Professional Acceleration and Microcredentials in the College of Professional Studies. “What we’ve created is a hybrid learning experience that builds on the excellent foundations established by Google by adding a dimension of live online sessions with instructors, specific readings, additional videos and discussion groups guided by our faculty. This added perspective and interaction will give our students a distinct advantage as they approach the job market.”
The certificate in cybersecurity is the first of six Google career certificates that will be available through Syracuse University, the school said.
Originally designed and taught by Google employees, Syracuse University has added perspectives and information from both faculty and practitioners to “build an even more comprehensive foundation” in these areas. Each certificate program includes more than 150 practice and graded assessments, quizzes, or writing assignments to “ensure rigor and mastery.”
To help prepare students for jobs, the program provides resources including resume templates, coaching from Career Circle, and interview practice with Big Interview, Syracuse University said.
“Global interest in cybersecurity jobs among job seekers has reached an all-time high on Google Search this year, yet businesses continue to report a large cybersecurity skills gap,” Lisa Gevelber, founder of Grow with Google, said in a Syracuse University news release. “The data is clear: we must create more pathways for people to enter the cybersecurity field and build a lasting career.”
A prior learning assessment (PLA) will be available for students who complete the Google Career Certificates through Syracuse University, the school said. The assessment awards college credits based on prior learning and experiences by identifying direct course overlaps in a specific for-credit program at Syracuse to which the student is applying.
The PLA allows students to “personalize their learning pathway” into a for-credit degree or certificate program, Syracuse University said.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.