Oswego County teacher charged with stealing more than $4,000 from CiTi BOCES

Get our email updates

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

OSWEGO, N.Y. — New York State Police in Pulaski recently arrested an Oswego County teacher for allegedly falsifying time sheets while working for the Center for Instruction Technology and Innovation (CiTi) BOCES to get paid for more than $4,000 in tutoring work he didn’t complete. State Police on Aug. 9 charged William J. Fisher, age […]

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Rockbridge names chief investment officer

Insurance & Financial Services, Subscriber Only

SYRACUSE — Rockbridge Investment Management announced it has appointed Adam C. Gagas as its chief investment officer. Gagas will also retain his role as managing director of institutional services at Rockbridge, which is an advisory firm based in Syracuse. Prior to joining Rockbridge Investment Management in 2021, Gagas held several positions in the financial sector.

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Pathfinder Bank names VP, senior commercial lender

Banks & Credit Unions, Subscriber Only

OSWEGO — Pathfinder Bank has recently hired Joseph Pedrotti as VP and senior commercial lender. “We are thrilled to welcome Joe to our team,” Ronald G. Tascarella, the bank’s first VP, chief lending officer, said in a Pathfinder news release. “With his wealth of knowledge in commercial banking and his deep roots in the Central

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

ConMed to pay Q3 dividend of 20 cents on Oct. 5

Manufacturing & Engineering, Regional News, Subscriber Only, Technology

ConMed Corp. (NYSE: CNMD), a surgical-device maker with roots in the Utica area, has announced that its board of directors declared a quarterly cash dividend of 20 cents a share for the third quarter of this year. The dividend is payable on Oct. 5 to all shareholders of record as of Sept. 15. At the

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

October NYS Innovation Summit has speakers from ESD, NYSERDA

Energy, Environment & Sustainability, Manufacturing & Engineering, Nonprofits, Small Business, Sports, Entertainment & Tourism, Subscriber Only, Technology

SARATOGA SPRINGS, N.Y. — The leaders of Empire State Development (ESD), the national Manufacturing Extension Partnership (MEP) program, and the New York State Energy and Research Authority (NYSERDA) will deliver keynote addresses at the upcoming 2023 New York State Innovation Summit. The two-day event is set for Oct. 16–17 at Saratoga City Center & Saratoga

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

The two-day event is set for Oct. 16–17 at Saratoga City Center & Saratoga Hilton Hotel in Saratoga Springs, per its website.

Those interested can register at the website: nysinnovationsummit.com

Albany–based FuzeHub organizes and leads this annual event to convene New York’s innovation ecosystem, “sparking new connections and collaborations that foster technology-led economic growth,” the organization said in a news release. FuzeHub serves as the statewide New York MEP center for ESD’s Division of Science, Technology and Innovation (NYSTAR).

Supported by NYSTAR, the New York State Innovation Summit is described as a gathering of businesses, entrepreneurs, academic researchers and government officials who contribute to the state’s innovation ecosystem, FuzeHub said.

This year’s speakers represent the impact of global semiconductor manufacturing, university-led research and development, and state-driven economic-growth initiatives.

More than 500 people attended the 2022 Innovation Summit in Buffalo. FuzeHub is expecting a similar figure for this year’s edition. The summit will also include FuzeHub’s seventh annual Commercialization Competition, funded by ESD, which is open to startups across New York state.

Entrepreneurs will pitch in person for up to $150,000 in grant awards from the Jeff Lawrence Innovation Fund to accelerate the commercialization of their technology or product.

Speakers

The event’s speakers will include Doreen Harris, president and CEO of NYSERDA. Harris has held public and private-sector leadership roles advancing clean-energy projects and engineering companies for more than 20 years. She now leads NYSERDA at a time when the state expands its renewable-energy development and transmission, per the event news release.

Those attending will also hear from Hope Knight, president, CEO, and commissioner of ESD. As head of the state’s chief economic-development agency, Knight leads initiatives that “spur innovation and economic growth,” including the newly created Office of Strategic Workforce Development. It focuses on aligning skills training programs with the priorities of today’s employers.

The speaking lineup also includes Pravina Raghavan, director of the Hollings MEP program at the U.S. Department of Commerce’s National Institute of Standards and Technology. Raghavan has more than 20 years of experience supporting businesses through the startup, growth, expansion, and maturity phases of development.

Thomas Caulfield, president and CEO of GlobalFoundries, is also scheduled to speak. He joined the firm in 2014 as senior vice president and general manager of the company’s advanced semiconductor wafer manufacturing facility in Malta in Saratoga County. As CEO, he leads a semiconductor manufacturer with operations on three continents and 13,000 employees worldwide.

In addition, the speakers include Martin Schmidt, president of Rensselaer Polytechnic Institute (RPI). Schmidt took the helm of the technological research university in July 2022 after serving eight years as the provost of Massachusetts Institute of Technology. Schmidt holds more than 30 issued U.S. patents and has played a part in starting seven companies.

“This impressive lineup of speakers will deliver inspiration and motivation for New York State’s innovation ecosystem,” Elena Garuc, executive director of FuzeHub, said. “We’re excited for the valued expertise they’ll share and conversations they’ll spark at the 2023 New York State Innovation Summit in the Capital Region. Each year, this event generates opportunities for collaboration, bringing innovative thinkers and doers together around new ideas and emerging technologies with the potential to drive economic growth.”

Whitman School implements new leadership structure

Employee Benefits & Human Resources, Health Care, People on the Move, Small Business, Subscriber Only

J. Michael Haynie, vice chancellor for strategic initiatives and innovation, will serve as Whitman’s executive dean, while Alexander McKelvie will continue to serve as interim dean, a role he has held since July 2022. Both appointments are effective immediately, Syracuse University Chancellor Kent Syverud said in a July 28 announcement. Haynie’s appointment to executive dean

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Both appointments are effective immediately, Syracuse University Chancellor Kent Syverud said in a July 28 announcement. Haynie’s appointment to executive dean is for two years, during which time the search for the next Whitman dean will resume.

The new structure is “designed to advance and accelerate growth opportunities and cement the school’s position as a preeminent provider of business education,” Syracuse University stipulated in its announcement.

“The Whitman School has a storied history of producing well prepared, entrepreneurial and successful graduates,” Syverud said in a university news release. “To continue building on that success and to enhance our competitiveness in business education, a new leadership structure is necessary. Under Mike’s strategic direction, and with Alex’s continued leadership, I am confident the Whitman School will continue to build on its legacy and create new opportunities for growth, innovation and excellence.”

Haynie and McKelvie — both of whom are “recognized thought leaders” in entrepreneurship and emerging enterprises — will work with the Whitman faculty and staff and the Whitman advisory council to “advance the school’s strategic plan in alignment with the University’s academic priorities,” Syracuse University said.

In this new role, Haynie will report directly to Chancellor Syverud and McKelvie to Haynie. The processes, norms and policies associated with shared academic governance will not change, and academic personnel issues will continue to be coordinated through the Office of Academic Affairs, the school noted.

McKelvie joined Syracuse University more than 15 years ago. When he was tapped to lead the Whitman School last year as interim dean, he was serving as associate dean for undergraduate and master’s education and professor of entrepreneurship. He previously chaired the department of entrepreneurship and emerging enterprises between 2014 and 2019, Syracuse said.

“This is a pivotal moment for the Whitman School, presenting a unique opportunity for our faculty and staff to think differently about how we deliver an innovative, best-in-class business education that prepares our students for success in a fast-evolving world,” Haynie said in the release. “The changing landscape of business education demands outside-the-box thinking and getting comfortable with the uncomfortable. Together with Alex and the Whitman community, I am excited for the work ahead and look forward to creating the conditions that will allow Whitman and our students to succeed and thrive long into the future.”

In addition to his role as vice chancellor, Haynie is a university professor (Barnes Professor of Entrepreneurship) and has been a member of the Whitman faculty for 16 years.

The search for the next dean will resume in late 2024 while Haynie, McKelvie, and their Whitman colleagues continue to develop the school’s strategic plan and begin implementation under this new leadership model, Syracuse University said.

“Together, Mike and Alex are a formidable leadership team with a passion for the Whitman School and commitment to Syracuse University,” Gretchen Ritter, vice chancellor, provost, and chief academic officer, contended in the release. “They have both led the Whitman School — Mike previously as acting dean and Alex as interim dean — during moments of transition and opportunity. I appreciate their dedication to the Whitman School and have no doubt that, in partnership with the outstanding faculty and staff, the school is poised to experience great growth under their leadership.”

Midyear business leaders outlook improves slightly

Banks & Credit Unions, Employee Benefits & Human Resources, Insurance & Financial Services, Small Business, Sports, Entertainment & Tourism, Subscriber Only

Business leaders are slightly less worried about a recession this year, according to JPMorgan Chase & Co.’s 2023 Midyear Business Leaders Outlook survey. A total of 45 percent of business leaders say the nation is already in a recession or expect a recession before the end of 2023, down from 65 percent who felt that

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Business leaders are slightly less worried about a recession this year, according to JPMorgan Chase & Co.’s 2023 Midyear Business Leaders Outlook survey.

A total of 45 percent of business leaders say the nation is already in a recession or expect a recession before the end of 2023, down from 65 percent who felt that way at the beginning of the year. Additionally, 35 percent do not expect a recession at all, while 20 percent are uncertain whether one will happen or not.

Coupled with that, 39 percent of business leaders are pessimistic about the global economy, down from 60 percent at the beginning of the year, while 46 percent are neutral on the outlook. Only 15 percent are optimistic.

That mirrors the outlook on the national economy, where 37 percent of business leaders are pessimistic, down from 43 percent. Only 29 percent are bullish on the national economy, up from 22 percent six months ago.

Those sentiments mirror those of local Central New York business leaders, says John Huhtala, market executive for middle-market banking and specialized industries at JPMorgan Chase in Syracuse.

While there are challenges, “I think the good news is they remain bullish on their own economies,” Huhtala says. Across Central New York, a large number of businesses are planning to expand in some way whether it’s through increased employment or by expanding with new products or to new regions.

Two-thirds of survey respondents (67 percent) remained confident in their company’s performance for next year, with 59 percent anticipating increased revenue/sales and 51 percent predicting increased profits.

The economy is still presenting challenges to businesses, he says, namely in the form of rising costs, fear of recession, and inflation. Additionally, businesses are still contending with labor issues as well as increased competition.

“We’re seeing that locally as well,” Huhtala says.

Some businesses have struggled to pass the increase in costs along to the customers, he notes. In some cases that might be due to existing contracts or other hurdles causing it to take longer to integrate increases, he says. But the reality is that costs have risen, and those increases need to be passed along to customers.

Inflation and cost increases topped the survey list of concerns nationally. A total of 79 percent of business leaders say their costs of doing business have increased since the beginning of the year, and 75 percent say they will continue to raise their prices to mitigate costs. Another 68 percent indicated they want the federal government to pause interest-rate hikes.

There is also no denying the continuing labor shortage, which started before the pandemic and continues today. “There’s a skills mismatch,” Huhtala says. There are lots of jobs in certain fields, like engineering and finance, and not enough people trained in those fields to fill the jobs, he says.

One new area in the survey with some surprises is business use of artificial intelligence (AI), Huhtala says. Business leaders are split on the adoption of AI within their business operations with 38 percent saying they are already using or considering it. Of those who have adopted or considered AI, 53 percent are integrating AI tools into business operations, while 46 percent are using the new technology for internal/external communications, and 29 percent are using AI for human resources/training. Just 46 percent of business leaders say they don’t use or plan to use AI in their businesses.

“It’s a popular tool,” Huhtala says. For some businesses, the use of AI can help overcome other issues, such as labor shortages.

JPMorgan Chase conducted the survey from June 14 through July 5 for middle-market companies with annual revenues between $20 million and $500 million. A total of 625 business leaders participated.

Housing project helps Human Technologies fulfill its mission

Construction, Design & Real Estate, Employee Benefits & Human Resources, Nonprofits, Regional News, Subscriber Only

ROME, N.Y. — Human Technologies’ recently announced plans to build Copper Village — an affordable-housing community in South Rome — are about more than just helping fill the housing gap. The project also helps the nonprofit fulfill its mission to create employment for people with disabilities. The proposed $105 million project would create 250 housing

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

The proposed $105 million project would create 250 housing units split between one-, two-, and three-bedroom apartments in three mid-rise buildings and 44 townhomes along the waterfront off Baptiste Avenue.

The idea got its start several years ago when Human Technologies President/CEO Timothy Giarrusso was looking for waterfront property for his own personal use. Instead, he found land for sale along the Erie Canal that he thought Human Technologies could put to use and play an active part in the city’s revitalization.

“When you have land, you’re at the table,” Giarrusso says. The Utica–based nonprofit purchased multiple parcels in Rome for $800,000 in 2018, according to Oneida County property records.

Human Technologies opted to create housing because there is a real need for working-class housing, he says. “There’s a significant shortfall in affordable housing for people not making six figures,” says Giarrusso. A total of 30 percent of the units at Copper Village will include supportive services with preference given to seniors and disabled veterans.

The not-for-profit social enterprise decided to partner with the Pennsylvania developer and property-management company Penrose to develop Copper Village, with Penrose set to manage the complex once complete.

That frees Human Technologies to focus on its mission of generating jobs for those with disabilities, it contends.

“When you have 250 housing units, there is an opportunity to create jobs there,” Giarrusso notes. Human Technologies, established in 1954, employs more than 325 people in several business lines including facilities management and environmental services, supply chain and order fulfillment, uniform and apparel-management services, and manufacturing and packaging operations.

Along with the housing units, Copper Village will also include at least 8,000 square feet of retail space for lease, Giarrusso says. He’s hoping Human Technologies can attract a daycare center as one of the tenants. A restaurant or even a microbrewery are other attractive options that would provide amenities to tenants.

The project still needs planning-board approval before it can begin, but Giarrusso hopes to break ground in the third quarter of 2024. Currently, Human Technologies is in the process of putting together funding sources for the project, he says. The nonprofit recently submitted a consolidated-funding application to Empire State Development.

Utica native opens dream business

Regional News, Small Business, Sports, Entertainment & Tourism, Subscriber Only

UTICA — As a creative child, Nazaria (Nazzy) Deloach had a dream for a space where he felt free to be himself and create. As an adult, Deloach is making that dream come true with his new business, Dreamer Studios, LLC, which opened in June at 2507 Genesee St. “I fell in love with music

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

UTICA — As a creative child, Nazaria (Nazzy) Deloach had a dream for a space where he felt free to be himself and create.

As an adult, Deloach is making that dream come true with his new business, Dreamer Studios, LLC, which opened in June at 2507 Genesee St.

“I fell in love with music early in life,” Deloach says. He was in band all through school, but things really changed in high school when he got a computer and a microphone. That opened up more opportunity for him to create and record music.

Eventually, that turned into recording music for others with equipment set up in his mother’s house. Deloach also attended Mohawk Valley Community College (MVCC), receiving an associate degree in business administration. Along the way, he met Shehryar (K-Twist) Khan, who produced his music for him.

Last year, Deloach had the idea that maybe he could turn his home studio into a business and began asking clients if they’d be interested in working with him in a professional studio.

After several months of polling his clients, Deloach decided to go for it and asked Khan if he’d be interested in working with him to launch a studio. Khan agreed to sign on as a producer and engineer, and the pair has been working since November 2022 to start the business.

It was a lot of legwork and planning behind the scenes, Deloach says, to figure out budgeting and what they could afford now or what needed to wait until later. They decided to inventory the equipment they each already owned and what they needed to purchase.

“We invested a lot of time into making sure this is something,” he says.

What does he mean by something? A lot of different things, actually, but firstly his goal was to create a safe space for youth and creatives. Of course, Deloach also wants it to be a successful business, but his goals stretch further than that.

Ultimately, Deloach wants the studio to be a multi-media company and maybe even have its own music label someday.

His current clients include a little bit of everyone, from individuals wanting to record something to businesses that need something recorded. He plans to add audio-podcast recording soon, with plans to add video recording later on.

“I take anyone who shares the same passion as us,” Deloach says. “It doesn’t matter if you’re an 8-year-old or if you’re 65. You can come here and make beats. You can come here and make a commercial for radio.”

Some of his commercial clients include KISS-FM radio and the Levitt AMP Utica Music Series organizers. Deloach’s home-studio clients are still with him, and new clients are reaching out regularly, he says. He credits word-of-mouth advertising from existing clients and his membership in the Greater Utica Chamber of Commerce, along with a need for another professional recording studio in the area.

Dreamer Studios (www.dreamerstudiosny.com) celebrated its grand opening on June 14 with a ribbon-cutting event with the Greater Utica Chamber.

State’s $55.5M Small Business Revolving Loan Fund 2 offers microloans

Banks & Credit Unions, Insurance & Financial Services, Small Business, Subscriber Only

ALBANY — New York State recently announced that its expanded $55.5 million Small Business Revolving Loan Fund 2 is available to provide shorter-term microloans and regular loans to address “inequitable” capital access “by bridging the financing gaps facing new companies, under-banked communities, and small businesses.” It’s part of New York’s broader Small Business Credit Initiative

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

It’s part of New York’s broader Small Business Credit Initiative efforts led by Empire State Development, the office of Gov. Kathy Hochul said in an Aug. 7 news release.

This expanded program will leverage financial-loan capital to help generate economic activity by expanding access to short-term loan capital for small, micro and “socially and economically disadvantaged,” individual-owned businesses that have faced “historical barriers” to obtaining credit or adequate loan terms, Hochul’s office said.

The first round of the Small Business Revolving Loan Fund was launched in 2010.

“Ninety-eight percent of New York’s businesses have fewer than 100 employees and are a key driver of our economic growth,” Hochul said. “The Small Business Revolving Loan Fund 2 will bolster these small businesses, especially our minority and women entrepreneurs, and help build the economy of the future.”

“When our small businesses succeed, our communities succeed,” Hope Knight, president, CEO, and commissioner of Empire State Development said in the release. “The Small Business Revolving Loan Fund 2 will support our small businesses by providing capital to help businesses thrive, create jobs and grow New York’s economy, now and for the future.”

Small businesses may apply for lending through a participating community development financial institution (CDFI). Program lenders use the capital from the program, along with matching capital from other resources to further enhance available funding for small businesses.

Typical uses of funds are working capital; acquisition and/or improvement of real property; acquisition of machinery and equipment; and, in some cases, refinancing of debt obligations.

Microloans (loans between $500 and $25,000); and regular loans (typically as large as $250,000 or more depending upon the lender) are available with terms based upon each lender’s individual offerings.

Program lenders are the primary point of contact for borrowers, and each have their own loan-application process and loan products. Competitive interest rates, terms, and fees are determined by the individual program lenders, who are also responsible for applications and credit decisions, Hochul’s office said.

Participating lenders

Participating lenders for this program include Syracuse Cooperative Federal Credit Union with a service area that includes Cayuga, Cortland, Madison, Onondaga, and Oswego counties.

Another lender is Adirondack Economic Development Corporation. Its service area covers Essex, Franklin, Hamilton, Jefferson, Lewis, St. Lawrence, Fulton, Herkimer, Oneida, Oswego, Saratoga, Warren, and Washington counties.

Finally, two other lenders include NYBDC (dba Pursuit Lending) and NYBDC Local Development Corporation (dba Pursuit Lending), both of which serve all New York counties, per Hochul’s office.

Get our email updates

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

Get our email updates

What's New

Upcoming Events

Project Homecoming Job & Career Fair 2025

Annual Nonprofit Conference 2026

2026 CenterState CEO Economic Forecast Breakfast

CNYBJ Job Board

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get our email updates