New York State Police raise maximum trooper applicant age to 34

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Gov. Kathy Hochul has signed off on a request from the New York State Police to raise the maximum age to apply to become a

WCNY to use nearly $500K state grant for film industry workforce development

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SYRACUSE, N.Y. — WCNY in Syracuse will use a state grant of nearly $500,000 for its new WCNY Entertainment Academy. The funding comes from the

Syracuse University appoints new iSchool dean

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SYRACUSE, N.Y. — Syracuse University on Wednesday announced the appointment of Andrew Sears as the next dean of the School of Information Studies, or the

Lowville police chief and sergeant arrested

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LOWVILLE, N.Y. — Lowville’s police chief and a sergeant at the Lowville Police Department were arrested Wednesday, following an investigation by the New York State

Oneida County Tourism names new president

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UTICA, N.Y. — The Oneida County Tourism board of directors has selected Sarah Foster Calero as the next president of the Convention and Visitors Bureau

Northeast Dairy Foods and Suppliers Associations name new executive director

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CICERO, N.Y. — The Northeast Dairy Foods and Suppliers Associations recently announced the appointment of Alex E. Walsh as executive director. Walsh oversees the day-to-day operations of the two associations — Northeast Dairy Foods Association, Inc. (NDFA) and Northeast Dairy Suppliers Association, Inc. (NDSA) — as well as the governmental, public, and industry relations on

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CICERO, N.Y. — The Northeast Dairy Foods and Suppliers Associations recently announced the appointment of Alex E. Walsh as executive director.

Walsh oversees the day-to-day operations of the two associations — Northeast Dairy Foods Association, Inc. (NDFA) and Northeast Dairy Suppliers Association, Inc. (NDSA) — as well as the governmental, public, and industry relations on behalf of membership. The Camillus resident serves as the fifth executive director in the NDFA’s 95-year history.

“Alex will bring a wealth of industry knowledge and experience to the position,” Daniel Lausch, president of the Northeast Dairy Foods Association board, said in a press release. “We look forward to his leadership and continuing the outstanding work the association does on behalf of dairy processor and manufacturer members.”

He joined the associations in 2018 as director of communications and membership before serving as associate VP of regulatory affairs from 2020 to 2021. Prior to joining the organization, Walsh served as a legislative aide to retired state Sen. John A. DeFrancisco, as a public-information officer for Onondaga County, and as an account manager at Syracuse marketing firm Pinckney Hugo Group, according to his LinkedIn profile.

“We are excited to have Alex rejoin the associations and bring fresh energy with his diverse background to enhance the supplier membership, NDSA board president Melissa Fryer said. “His leadership will be an asset to the growth and betterment of the associations and dairy industry in the northeast.”

Northeast Dairy Foods and Suppliers Associations, headquartered at 5701 E. Circle Drive in Cicero, are full-service dairy-trade organizations representing dairy processors, manufacturers, distributors, and suppliers in the Northeast U.S.

Northeast Dairy Foods Association represents members including fluid-milk producers, distributors, byproduct manufacturers, ice-cream plants, yogurt plants, and dairy producers in New York, New Jersey, Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont.

The Northeast Dairy Suppliers Association includes more than 200 dairy vendor and supplier member companies from international businesses to small family-owned companies that distribute goods and services to the dairy industry.

Five Star Bank parent company to pay Q2 dividend in early July

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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 second-quarter dividend on July 3, to shareholders of record on June 15. At the banking

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Lockheed Martin to pay Q3 dividend of $3 a share in late September

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The Lockheed Martin Corp. (NYSE: LMT) board of directors has authorized a third-quarter, 2023 dividend of $3 per share. The dividend is payable on Sept. 22, to holders of record as of the close of business on Sept. 1. At Lockheed’s current stock price, the dividend yields about 2.6 percent on an annual basis. Lockheed

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Wolfspeed secures financing for expansion efforts

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MARCY, N.Y. — Silicon-carbide technology company Wolfspeed, Inc., (NYSE: WOLF) recently announced it has secured $1.25 billion in financing, with an accordion feature for up to an additional $750 million, from an investment group led by Apollo (NYSE: APO). The financing supports Wolfspeed’s efforts to ramp up production and expand as it works toward a

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MARCY, N.Y. — Silicon-carbide technology company Wolfspeed, Inc., (NYSE: WOLF) recently announced it has secured
$1.25 billion in financing, with an accordion feature for up to an additional $750 million, from an investment group led by Apollo (NYSE: APO).

The financing supports Wolfspeed’s efforts to ramp up production and expand as it works toward a $6.4 billion global capacity expansion plan. The company expects its efforts will yield an accelerated adoption of silicon carbide across an array of end markets and spur job creation in the U.S. semiconductor manufacturing segment.

“The group’s commitment to Wolfspeed further validates the importance of silicon carbide to the global energy transition,” Wolfspeed President/CEO Gregg Lowe said in a release. “This important step in our financing provides significant capital to scale up near-term operations at our Mohawk Valley Fab and construction of our Siler City materials facility to help us capture the growing silicon-carbide market opportunity. The financing positions Wolfspeed to continue to lead the growth of the industry and focus on the execution of our vertically integrated strategy to meet growing demand.”

Wolfspeed employs more than 350 people at its Mohawk Valley Fab, a 500,000-square-foot 200 mm silicon-carbide fabrication facility in Marcy, a figure ahead of the 270 the company originally projected it would employ by early 2023.

Work to build out Marcy’s 125,000-square-foot cleanroom began earlier this year, an estimated $2 billion project that will bring production capabilities to full capacity by 2027. Once complete, the Mohawk Valley Fab will be able to produce about $2 billion worth of product annually.

Wolfspeed announced in the fall of 2022 it will build a new materials-manufacturing facility in Chatham County, North Carolina. The $1.3 billion project will provide a 10-fold increase in the company’s silicon-carbide production capacity.

The new financing comes in the form of 9.875 percent notes that mature in 2030, with an option to prepay based on terms of the notes. The investment is led by funds managed by Apollo’s $450 billion credit business.

Wells Fargo & Company (NYSE: WFC) and Morgan Stanley & Co., LLC, served as financial advisors to Wolfspeed while Latham & Watkins LLP and Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P. served as legal counsel.

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo funds and noteholder group. Apollo Capital Solutions provided capital markets and structuring advisory services for the transaction.

Headquartered in North Carolina, Wolfspeed produces silicon-carbide wafers for components used in devices such as electric vehicles, fast chargers, 5G applications, and the renewable energy, aerospace, and defense industries.

Operation Oswego County annual meeting outlines projects

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OSWEGO, N.Y. — A pair of Oswego County economic-development organizations provided help for projects that resulted in the creation or retention of 1,495 jobs, with more than $447 million in capital investment associated with 38 new, expanded, or retained facilities. Austin Wheelock, executive director of Operation Oswego County (OOC), was speaking about OOC and the

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Austin Wheelock, executive director of Operation Oswego County (OOC), was speaking about OOC and the County of Oswego IDA, or COIDA. His comment was part of Operation Oswego County’s 71st annual meeting held June 15 at the Lake Ontario Event and Conference Center in Oswego.

Ellen Holst, president of the OOC board of directors, welcomed about 135 representatives of businesses, government, education, labor, and other ally organizations to the meeting.

In the keynote address, Matthew Serrao, production manager for coating at Felix Schoeller North America, discussed the firm’s current expansion project in Pulaski, along with its history and how it has adapted over the past 60 years in Oswego County.

Projects

Operation Oswego County also used the annual meeting to outline about 20 projects that are underway in Oswego County, including the Felix Schoeller expansion, Novelis’ plans to construct two buildings in the town of Scriba, and Market House 1886 Brewing in Oswego, which is renovating a three-story building along the Oswego River.

In addition, Highland Animal Hospital in Central Square is under new ownership and pursuing an expansion project that includes the construction of a 7,200-square-foot building. The new structure will double the animal-care center’s available space. The expansion of this woman-owned business also includes the addition of a veterinary urgent-care center. The more than $3.5 million effort will create 14 jobs.

The projects discussed at the meeting also include Fairway Billiards, a startup pool hall in the town of Granby, which took on a $150,000 effort to renovate a leased former banquet facility. The updated venue will be available for both recreational play and for American Pool Association sanctioned tournaments. COIDA provided financial assistance, OOC noted.

OOC also assisted Stress BioAnalytics in Oswego with a $40,000 project that created three jobs. Stress BioAnalytics is a biotech startup at OOC’s Business Expansion Center. The business measures stress molecules in hair and fingernails for research institutions. The project was also a participant in the Next Great Idea 2021 Oswego County Business Plan Competition.

Awards

Operation Oswego County also used the occasion to announce several awards.

OOC honored SUNY Oswego with the Ally Award in “recognition and appreciation of the vision, commitment and leadership exhibited … for the benefit of the student body and the Oswego County community.”

The organization also recognized Felix Schoeller North America with the Business Excellence Award for 2023 “in recognition and appreciation for demonstrating outstanding leadership and commitment in operating and expanding” Felix Schoeller in Oswego County.

OOC also presented St. Luke Health Services with the Jobs Award for its “significant” contribution and economic impact of St. Luke Health Services on the Oswego County economy.

Brenden Backus, Kevin Dates, and Stephen Dates received OOC’s 2023 Dee Heckethorn Entrepreneur Award for their “entrepreneurial spirit, creativity and dedication” in opening the first distillery in Oswego County since prohibition; for establishing Lock 1 Distilling Company, a state farm distillery, in Phoenix in 2017; for adding new products made with locally sourced ingredients and promoting other local businesses; for receiving 16 awards at several spirits competitions since 2017; and for enhancing the tourism industry in the village of Phoenix, OOC said.

OOC honored Thomas Greco with the 2023 Martin Rose Economic Developer Merit Award for his “outstanding” record of exhibiting leadership, expertise, support and cooperation in advancing economic and community-development efforts in Oswego County and in Central New York; for his dedication and commitment to the financial services industry for over 20 years as a mortgage loan originator; for serving on the Operation Oswego County board of directors since 1986; and for having been a small business owner and licensed commercial real-estate appraiser; and for serving on numerous boards and organizations that are vital to economic development and the quality of life such as the Greater Oswego-Fulton Chamber of Commerce, the Central New York Mortgage Bankers Association, the Greater Syracuse Association of Realtors, and the Fulton Kiwanis Club.

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