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

NBT to acquire Connecticut–based Salisbury Bancorp for $204 million
NORWICH, N.Y. — NBT Bancorp, Inc. (NASDAQ: NBTB) announced Monday that it has agreed to acquire Salisbury Bancorp, Inc. (NASDAQ: SAL), of Connecticut, in an

People news: Masonic Medical Research Institute names new assistant professor
UTICA, N.Y. — The Masonic Medical Research Institute (MMRI) recently promoted Chase Kessinger, Ph.D., to assistant professor and added a new lab to the growing

Syracuse to play Minnesota in the Bad Boy Mowers Pinstripe Bowl on Dec. 29
The Orange completed a 7-5 season with a 32-23 win over Boston College, which ended a five-game losing streak against opponents that included Clemson, Notre

Syracuse University event parking to go cashless beginning Dec. 6
All major credit cards, as well as Google Pay and Apple Pay, are considered accepted forms of payment, the school said in its Friday announcement.

Micron announces names for new twin elephants at the Rosamond Gifford Zoo; free day Dec. 18
Onondaga County earlier in the week had announced the community could help name the twins through an online-voting process. “If you think about what elephants
Lockheed Martin’s Salina plant wins nearly $14 million Navy contract modification
SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) plant in suburban Syracuse has won a $13.96 million modification to a previously awarded contract from the U.S. Navy. The cost-plus-fixed-fee modification is to exercise an option for AN/SLQ-32(V)6 design agent support, according to a Nov. 21 contract announcement from the U.S. Department of Defense. Work will
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.
SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) plant in suburban Syracuse has won a $13.96 million modification to a previously awarded contract from the U.S. Navy.
The cost-plus-fixed-fee modification is to exercise an option for AN/SLQ-32(V)6 design agent support, according to a Nov. 21 contract announcement from the U.S. Department of Defense. Work will be performed at the defense contractor’s Salina facility and is expected to be completed by September 2023.
Fiscal 2023 research, development, test, and evaluation (Navy) funds totaling $787,308 (47 percent); fiscal 2023 other procurement (Navy) funds of $699,924 (41 percent); and fiscal 2023 operations and maintenance (Navy) funds totaling $207,240 (12 percent) were obligated at time of award. Also, funds of $207,240 will expire at the end of the current fiscal year, per the contract announcement. The Naval Sea Systems Command in Washington, D.C., was the contracting authority for this pact.
Milk prices at the producer level in New York state stayed high in the latest month as inflationary pressures persisted. New York dairy farms in September were paid an average of $26 per hundredweight of milk in September, up slightly from $25.90 in August, but up 37.6 percent from the $18.90 average in September 2021.
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.
Milk prices at the producer level in New York state stayed high in the latest month as inflationary pressures persisted.
New York dairy farms in September were paid an average of $26 per hundredweight of milk in September, up slightly from $25.90 in August, but up 37.6 percent from the $18.90 average in September 2021.
The data is from the monthly milk-production report that the USDA’s National Agricultural Statistics Service (NASS) issued on Nov. 21.
New York dairy farms produced 1.309 billion pounds of milk in October, up 1.7 percent from 1.287 billion pounds in the year-ago month. Milk production per cow in the Empire State averaged 2,095 pounds in the 10th month of the year, up 2.2 percent from 2,050 pounds in October 2021. The number of milk cows on farms in New York totaled 625,000 head this October, down 0.5 percent from 628,000 head in the year-earlier month, NASS reported.
New York egg production rises less than 1 percent in October
New York farms produced 149.3 million eggs in October, up 0.6 percent from 148.4 million eggs in the year-prior month, the USDA’s National Agricultural Statistics Service (NASS) recently reported. The number of layers in the Empire State averaged more than 5.75 million in October, up 0.5 percent from nearly 5.73 million in the year-ago month.
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.
New York farms produced 149.3 million eggs in October, up 0.6 percent from 148.4 million eggs in the year-prior month, the USDA’s National Agricultural Statistics Service (NASS) recently reported.
The number of layers in the Empire State averaged more than 5.75 million in October, up 0.5 percent from nearly 5.73 million in the year-ago month. October egg production per 100 layers edged up to 2,595 eggs from 2,592 eggs in October 2021.
In neighboring Pennsylvania, egg production was nearly unchanged at
674.5 million eggs in October, compared to 674.8 million eggs a year earlier.
U.S. egg production totaled just over 9.13 billion eggs in October, off more than 3.5 percent from nearly 9.47 billion eggs a year before.
Oneida County hotel-occupancy rate edges up more than 3 percent in October
UTICA , N.Y.— Oneida County’s hotel-occupancy rate (rooms sold as a percentage of rooms available) rose 3.4 percent to 65.2 percent this October compared to the year-ago month. That’s according to a recent report from STR, a Tennessee–based hotel-market data and analytics company. Occupancy in the Mohawk Valley’s largest county is up 7.9 percent year
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.
UTICA , N.Y.— Oneida County’s hotel-occupancy rate (rooms sold as a percentage of rooms available) rose 3.4 percent to 65.2 percent this October compared to the year-ago month.
That’s according to a recent report from STR, a Tennessee–based hotel-market data and analytics company. Occupancy in the Mohawk Valley’s largest county is up 7.9 percent year to date to 60.9 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 11.3 percent to $90.33 in October, compared to October 2021. Through the first 10 months of the year, RevPar has increased 21.3 percent to $80.90.
Average daily rate (ADR), which represents the average rental rate for a sold room, rose 7.7 percent to $138.57 in Oneida County in the 10th month of the year. So far in 2022, ADR is up 12.4 percent to $132.94.
Jefferson County hotel-occupancy rate rose nearly 5 percent in October
WATERTOWN, N.Y. — Jefferson County hotels attracted more customers in October than a year ago, continuing the string of business gains seen all year. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 4.6 percent to 59.7 percent in the 10th month of the year, according to STR, a
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.
WATERTOWN, N.Y. — Jefferson County hotels attracted more customers in October than a year ago, continuing the string of business gains seen all year.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 4.6 percent to 59.7 percent in the 10th month of the year, according to STR, a Tennessee–based hotel market data and analytics company. Year to date, Jefferson County’s occupancy rate is up 11.5 percent to 57.9 percent, as occupancy has increased each month this year.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, went up 13.2 percent to $68.96 in October from the year-earlier month. That was nearly identical to the 13.3 percent rise in this measure in September. So far in 2022, RevPar has jumped by more than 22 percent to $66.87.
Average daily rate (ADR), which represents the average rental rate for a sold room, rose 8.3 percent to $115.57 in October from the same month in 2021. This followed September’s 5.8 percent rise in this measure. Through the first 10 months of 2022, ADR has increased nearly 10 percent to $115.54.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.