C&S, other CNY firms on new NYS historic business preservation registry

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Salina–based C&S Companies is part of the newly launched New York State Historic Business Preservation Registry. The online registry was established to honor and promote New York businesses that have been in operation for at least 50 years and have contributed to their communities’ history. The first round of designations includes 100 businesses across the […]

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Salina–based C&S Companies is part of the newly launched New York State Historic Business Preservation Registry.

The online registry was established to honor and promote New York businesses that have been in operation for at least 50 years and have contributed to their communities’ history. The first round of designations includes 100 businesses across the state.

The New York State Office of Parks, Recreation and Historic Preservation (OPRHP) on March 30 announced the launch of the registry.

An elected state official must sponsor nominations to the registry, C&S Companies said in its May 9 announcement. New York State Assemblywoman Pamela Hunter (D–Syracuse) submitted C&S’s nomination, the firm added.

“We appreciate Assemblywoman Hunter and her staff for nominating C&S as a New York State Historic Business,” John Trimble, president and CEO of C&S Companies, said. “Although we now operate across the U.S., considering we were founded in New York State and continue to be locally owned, makes this recognition very special.”

C&S Companies, established in 1968 by engineers Emanuel (Mike) Calocerinos and Frank Spina, began as a general partnership in Liverpool, per a description on the registry’s website. In its news release, C&S Companies describes itself as a design, planning, and construction-services firm employing more than 500 staff members.

Assemblyman Daniel O’Donnell and State Senator Jose Serrano first proposed the preservation registry.

“Many of our state’s homegrown businesses have helped shape the character and identity of the communities that they call home,” OPRHP Commissioner Erik Kulleseid said. “From small bakeries owned by generations of the same family, and farms dating back to the 1700s, to manufacturers who ship products around the world, these homegrown businesses serve New Yorkers well. With the launch of the New York State Historic Business Preservation Registry, we are excited to showcase the businesses, large and small, that are the backbone of our state’s economy.”

The honorary program provides educational and promotional assistance to help ensure businesses in the state “remain viable.” OPRHP will coordinate the program.

An interactive storyboard map — which provides information about the location and history of each business — is available on the agency website: https://parks.ny.gov/historic-preservation/business-registry/default.aspx

Each elected official may nominate two businesses for inclusion per term. The program is non-competitive and as long as the nomination criteria are met, businesses will be added to the registry.

The sponsor of the nomination will present business owners with certificates, and they’ll also be provided window decals with the program logo.

Any eligible business interested in a nomination for addition to the registry should contact the state representative for their area, OPRHP said.

Other regional firms added

Besides C&S Companies, other regional firms added to the registry include Fulton Boiler Works Inc., which was founded in 1949.

Registry firms also include Mayhoods’ Sporting Goods in Norwich which was established in 1960.

And, Empire Recycling Corporation, originally Empire Waste and Metal, made the list. It was founded in Utica in 1916 by Robert, Morton, and Louis Kowalsky.

The Crystal, Watertown’s earliest restaurant, was also added. It has “remained virtually unchanged for nearly a century,” per the registry’s website. The restaurant, which was established by brothers Dennis and Jerry Valanos in 1925, occupies a “prominent spot” on Watertown’s Public Square.

Sessler Companies of Waterloo and Phillip’s Diner of Ogdensburg are also in the registry.

OCC’s next leader says education “can change your life”

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ONONDAGA, N.Y. — The incoming president of Onondaga Community College (OCC) believes that education is “one of the biggest factors that can change your life.” Warren Hilton on May 10 visited the OCC campus, mingled with students and college officials, and spoke with local reporters. In his remarks to the media, Hilton, who described himself

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ONONDAGA, N.Y. — The incoming president of Onondaga Community College (OCC) believes that education is “one of the biggest factors that can change your life.”

Warren Hilton on May 10 visited the OCC campus, mingled with students and college officials, and spoke with local reporters.

In his remarks to the media, Hilton, who described himself as a first-generation college student, believes education can take a person to places that one “could never imagine,” and that OCC “has that same belief.

“Putting students first; having just the most excellent faculty who provide a wonderful education for our students; staff who are very supportive of the institution and provide the necessary support for our students, for our faculty and staff to thrive,” Hilton said. “The wonderful work that is being done in this area is all attractive to me and I’m very pleased to be here … to stand on the work that has been done by the executive leadership team under [outgoing OCC President] Casey Crabill’s leadership.”

He went on to say that OCC is “going to change the trajectory of many people’s lives;” whether it’s a 15-year-old thinking about college or a 50-year-old thinking about a career change, “OCC is the education institution of choice.”

The SUNY board of trustees on May 3 approved Hilton as OCC’s next president. Hilton begins his new duties July 1 and will become OCC’s 9th president and the school’s first Black president.

He succeeds Crabill, who is retiring after nine years at OCC.

Hilton’s background

Hilton comes to OCC from Kutztown University in Southeastern Pennsylvania, where he currently serves as VP for enrollment management and student affairs.

He has also held administrative roles at the Community College of Philadelphia; Drexel University in Philadelphia; Moravian College in Bethlehem, Pennsylvania; Johns Hopkins School of Public Health in Baltimore, Maryland; Stevenson University in Stevenson, Maryland; and the University of Maryland at College Park.

Hilton earned bachelor’s and master’s degrees at Indiana University of Pennsylvania and a doctorate at Drexel University.

“He comes with a wealth of experience in the [education] field,” John Sindoni, chairman of the OCC board of trustees, told reporters in introducing Hilton.

In his prior work, Hilton’s focus has been on enrollment management, student retention, and student success. Sindoni called student retention a “huge focus” at OCC.

Tompkins Financial pays Q2 dividend of 57 cents

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ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors approved payment of a regular quarterly cash dividend of 57 cents per share for the second quarter. The dividend is payable on May 16, to common shareholders of record on May 10. The dividend is the same amount that the

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New CNY Irish Festival set for July in Oneida County

Regional News, Small Business, Sports, Entertainment & Tourism

DEANSBORO, N.Y. — The newly formed Central New York Irish Festival is set for Friday and Saturday, July 22 and 23 at MKJ Farm in

Overkill Truck Accessories leases industrial space in DeWitt

Construction, Design & Real Estate, Manufacturing & Engineering, Small Business, Subscriber Only

DeWITT, N.Y. — Overkill Truck Accessories has leased 2,300 square feet of industrial space at 6301 Meade Road in the town of DeWitt. Gary Cottet, of Cushman & Wakefield/Pyramid Brokerage Company, helped arrange the transaction, representing the landlord, according to a release from the real-estate firm. No lease terms were disclosed. Benjamin Ridley and Lee

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ConMed boosts 2022 forecast based on Q1 results, acquisition

Manufacturing & Engineering, Regional News, Subscriber Only

The lingering COVID-19 pandemic played a role in limiting sales to just single-digit percentage growth for the first quarter of 2022 for ConMed Corp. (NYSE: CNMD), a medical-device manufacturer with roots in the Utica area. However, the company boosted its full-year guidance based on its first-quarter performance, along with a recently announced acquisition. “March was our

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However, the company boosted its full-year guidance based on its first-quarter performance, along with a recently announced acquisition.

“March was our best month of the quarter as the impact of Omicron was strongest in January and dissipated throughout the quarter,” ConMed’s president, CEO, and chairman Curt Hartman told investors in a May 4 conference call. Sales lagged in Asia, Japan, and Canada, while they were strong in Europe and Latin America, he noted. U.S. sales were slow before picking up toward the end of the first quarter.

Sales for the quarter increased 4.1 percent to $242.3 million from $232.7 million in the year-ago period, while net income jumped 51 percent from $9.9 million to $14.98 million. Earnings per share increased nearly 52 percent from 31 cents per share to 47 cents per share.

According to ConMed executive VP and CFO Todd Garner, the device maker was not immune from supply chain and other pandemic-related issues. Along with material-cost increases, the company has also seen an increase in the length of the sales backorder. Pre-pandemic, the backorder was just half a day, while it’s currently two days.

Guidance and acquisition

In spite of the lingering pandemic woes, ConMed officials increased their forecasts for full-year revenue from between $1.075 billion and $1.125 billion to the range of $1.105 billion to $1.150 billion. The increase is based in large part on an anticipated $20 million revenue boost from the company’s announced acquisition of Memphis, Tennessee–based In2Bones Global, Inc.

ConMed will acquire In2Bones for $145 million including up to an additional $110 million in growth-based earnout payments over a four-year period. ConMed expects the acquisition to close late in the second quarter or early in the third quarter of this year.

In2Bones develops, manufactures, and distributes medical devices for treatment of the upper and lower extremities, with a large focus on the foot and ankle.

“The company brings to ConMed a very experienced leadership team, an innovative and comprehensive foot and ankle portfolio, a well-established and growing sales channel, an existing international presence, and an exciting platform for future innovation,” Hartman told investors.

The foot and ankle market is a $4.5 billion industry producing single-digit growth annually, ConMed executives said. At the same time, In2Bones has been growing in the double digits each year, with $36.8 million in revenue in 2021.

Zacks Investment Research rated ConMed’s stock as a “hold” with a quarter that ended on a strong note that beat its estimates.

“The company witnessed strong performances across its orthopedic and general surgery units,” a Zacks report stated. “It saw sales growth in both its domestic and overseas markets.”

However, “the continued pandemic-led impact in the first quarter does not augur well. ConMed operates in a highly competitive environment, especially with respect to the general surgery business, which raises further apprehension,” Zacks said.

Through May 10, ConMed’s stock price is down 23 percent so far this year amid broader stock-market weakness. For the full-year 2021, ConMed shares gained 27 percent during a strong year for the broader equity market.

ConMed manufactures surgical devices for minimally invasive procedures for a number of surgical areas including orthopedics, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology. The company moved its corporate headquarters from its 525 French Road, New Hartford facility to Largo, Florida in 2021. It still maintains a number of functions including manufacturing in the New Hartford facility.

VIEWPOINT: New state law bars colleges from withholding transcripts of indebted students

Business Mentors, Health Care, Law, Accounting & Taxes, Subscriber Only

On May 4, 2022, Gov. Kathy Hochul signed into law A.06938B, which amends New York State Education Law. It adds a new Article 13-C; §640, which prohibits degree-granting institutions and licensed private career schools from withholding transcripts of students who owe a debt to the institution. It is also unlawful under §640 for institutions to condition

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Chemung Chamber offers May 26 webinar on disability inclusion

Employee Benefits & Human Resources, Nonprofits, Regional News, Small Business, Sports, Entertainment & Tourism, Technology

ELMIRA, N.Y. — The Chemung County Chamber of Commerce will present a panel-discussion webinar educational series at 10 a.m. on Thursday May 26 on how

Wheels are in motion for Binghamton entrepreneur

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BINGHAMTON, N.Y. — The owner of Chenango Point Cycles in Binghamton has taken his love for bicycling and purchased a business that focuses on that activity. His efforts also earned him recognition as the 2022 Small Business Person of the Year Award from the Upstate New York District of the U.S. Small Business Administration (SBA).

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BINGHAMTON, N.Y. — The owner of Chenango Point Cycles in Binghamton has taken his love for bicycling and purchased a business that focuses on that activity.

His efforts also earned him recognition as the 2022 Small Business Person of the Year Award from the Upstate New York District of the U.S. Small Business Administration (SBA).

“I bought Chenango Point in 2019 with the goal of being a hub for cyclists new and old to come together — for families and for people who have never seen a bike before in their life. I wanted to help them find the love I knew from riding my bike,” Anthony Folk said. “Taking my passion of having wheels underneath my feet and being able to share that with my community is one of the most rewarding experiences I can imagine.”

Chenango Point Cycles is located in the old Gotham Shoe factory at 125 Park Ave. in Binghamton. SBA Atlantic Regional Administrator Marlene Cintron and SBA Upstate New York District Director Bernard J. Paprocki visited Folk at his store to present the award as part of National Small Business Week.

They were joined by U.S. Representative Claudia Tenney, New York State Senator Fred Akshar, and Sonya Smith, state director of the New York Small Business Development Center (SBDC), the SBA said.

Paprocki noted that the SBA Upstate New York District selected Folk for the honor not only for his success “creatively growing” his business to become a “premier” regional bike shop, but also for his “commitment to community service and building a network of support” for cycling enthusiasts across the Southern Tier.

Road to ownership

As the SBA explains it, before becoming an entrepreneur, Folk was “always motivated to engage and encourage” other cyclists. He saw an opportunity to expand that mission in 2018 when the owner of Chenango Point Cycles — a “Southern Tier institution” — was contemplating retirement. Folk wanted to purchase and expand the business, with the goal of turning it into a top retail destination for cyclists and a center for community engagement for the region.

Before moving forward with the business acquisition, Folk turned to the Binghamton University SBDC, a member of the SBA-funded Resource Partner network, for help. He worked with then-business advisor Robert Griffin, now regional director of the Onondaga SBDC, on updating his business plan, developing cash-flow projections and securing financing.

Because Folk was a first-time business owner, lenders would have a “certain level of risk” in financing the acquisition, the SBA noted. Folk and Griffin worked with SBA lending partner KeyBank to consider Chenango Point Cycles’ options. Folk was eventually approved for an SBA Express Loan to purchase the business, inventory, and equipment through the lender, the agency said.

After successfully purchasing Chenango Point Cycles, Folk “immediately faced new obstacles,” the SBA said. They included a workforce shortage at a time when customers old and new started increasing their outdoor activity during the pandemic, directly leading to increased demand for bicycles, cycle parts, and repairs.

Coupled with addressing supply-chain issues, Folk relied on the SBDC to continue coaching him on human resources, management, accounting, and purchasing to help navigate the challenges.

Throughout the pandemic, Folk hired four new employees and added an online business, which led to a 15 percent year-over-year increase in inquiries. Folk foresaw and planned for future supply chain disruptions, expanding from two to four bike manufacturers and from one to almost a dozen accessory and parts suppliers.

During the three years after Folk bought Chenango Point Cycles, the business has tripled its sales and become the “biggest bike retailer in the region,” expanding from the Binghamton area to a regional market extending from Western New York to Maryland, the SBA said.

Ask Rusty: About the Earnings Test & Taxation of Social Security Benefits

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Dear Rusty: I’m 63, married, and we file a joint tax return. If I claim Social Security (SS) now and keep working and earn $7,000 more per year than the annual limit of $19,560, I know I’d have benefits withheld at the rate of $1 for every $2 over the limit ($3,500). But if I

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Dear Rusty: I’m 63, married, and we file a joint tax return. If I claim Social Security (SS) now and keep working and earn $7,000 more per year than the annual limit of $19,560, I know I’d have benefits withheld at the rate of $1 for every $2 over the limit ($3,500). But if I were to contribute $7,000 to a conventional (not Roth) IRA and take the deduction, would this reduce my earned income and eliminate the SS benefit withholding? And will such an IRA deduction help avoid taxation of my SS benefits if I am above the $32,000 taxation threshold for married — filing jointly? I’m trying to figure how much I can afford to earn while collecting Social Security benefits.

Signed: Searching for Ways

Dear Searching: Contributions to an IRA will not reduce the income-tax liability on your Social Security benefits. Taxation of SS benefits is determined using something known as modified adjusted gross income (MAGI), which is your normal adjusted gross income (AGI) on your tax return, plus 50 percent of the SS benefits you received during the tax year, plus any other non-taxable income you had (which would include contributions to your IRA). As you know, MAGI over $32,000 will cause 50 percent of your SS benefits received during the tax year to become taxable, but MAGI over $44,000 will up that percentage to as much as 85 percent of SS benefits received during the tax year (taxed at your normal IRS tax rate).

For the Social Security earnings limit, which applies to anyone collecting early benefits, your gross income from working is what counts so contributing to an IRA won’t reduce the amount you exceed the limit by — the Social Security Administration (SSA) will use your gross W2 amount, not the AGI from your tax return.

FYI, the 2022 annual earnings limit is $19,560 and if that is exceeded, you’ll pay the penalty ($1 for every $2 over). But claiming mid-year you’ll also be subject to a 2022 monthly limit of $1,630 and, if that is exceeded, you aren’t entitled to SS benefits for that month (the monthly limit will only apply for the remaining months of 2022). What will happen is the SSA will compute the penalty both ways and see which is greater — the penalty for exceeding the annual limit or the one for exceeding the monthly limit — and it will assess whichever penalty is smaller. As you may know, the earnings limit goes up by about 2.5 times during the year you reach your full retirement age (FRA) and goes away entirely starting in the month you attain FRA.

But there is also something to be aware of: If you have benefits withheld because you exceeded the earnings limit, when you reach your full retirement age you will be given time credit for the months benefits were withheld, meaning that the SSA will increase your FRA benefit amount according to the number of months you didn’t get benefits before that. So, at least theoretically, you can eventually recover the benefits withheld for exceeding the earnings limit by getting a higher benefit payment starting at your full retirement age. But income tax on SS benefits is different — there is no age cap for assessing federal income tax on your Social Security benefits.

Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4 million member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org.

Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity.

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