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

N.Y. lawmaker calls for Malatras removal after SUNY board backs system chancellor
ALBANY, N.Y. — Even after the SUNY board of trustees issued a Friday evening statement backing SUNY Chancellor Jim Malatras, a key New York lawmaker

NUAIR adds two positions to help business growth, advance the region’s drone corridor
SYRACUSE, N.Y. — NUAIR has added two new positions to pursue business growth and advancement of New York’s 50-mile drone corridor between Syracuse and Rome.

Partners launch Syracuse Surge job-training programs
SYRACUSE, N.Y. — The partners involved on Thursday announced the launch of a series of training programs as part of a technology-workforce strategy to help

Walsh announces $1 million in lending programs for Syracuse small businesses
SYRACUSE, N.Y. — The Syracuse Economic Development Corporation (SEDCO) on Friday started accepting applications for a minimum of $1 million as part of the first

2021 CNY Business Journal Family Business Awards honor seven businesses
SYRACUSE, N.Y. — Nearly 100 people gathered for the 2021 CNY Business Journal Family Business Awards on Thursday at the Embassy Suites Destiny in Syracuse.

Hochul signs bills focused on state-agency support of small businesses
New state laws creating a small-business liaison at certain state departments and one requiring New York’s secretary of state to confirm receipt after receiving a

East Syracuse Chevrolet sold to Buffalo-area auto group
DeWITT, N.Y. — A prominent automotive group in the Buffalo area is entering the Syracuse market for the first time with its purchase of East
Five Star Bank parent company to pay Q4 dividend in early January
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced that its board of directors has approved a quarterly cash dividend of 27 cents per share of its common stock for the fourth quarter. Financial Institutions said it will pay its quarterly dividend on Jan. 3, to shareholders of record
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WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced that its board of directors has approved a quarterly cash dividend of 27 cents per share of its common stock for the fourth quarter.
Financial Institutions said it will pay its quarterly dividend on Jan. 3, to shareholders of record on Dec. 17.
The dividend is the same amount that the banking company paid in each of the prior three quarters but is one cent higher than the payment of 26 cents it made in the year-ago quarter. At the company’s current stock price, the dividend yields about 3.4 percent on an annual basis.
Five Star Bank, based in Warsaw in Wyoming County, has more than 45 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Seneca Falls, Geneva, Ovid, Horseheads, and Elmira.
Financial Institutions and its subsidiaries employ about 600 people.
Lockheed’s Salina plant to perform more than half the work on nearly $16M Navy contract modification
SALINA, N.Y. — Lockheed Martin Corp. (NYSE: LMT) recently won a $15.9 million modification to a firm-fixed-price order against a previously issued basic-ordering agreement with the U.S. Navy. This modification exercises an option to procure seven retrofit advanced-radar processor systems for the E-2D aircraft. Work will be performed in Salina (54 percent) and Andover, Massachusetts
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SALINA, N.Y. — Lockheed Martin Corp. (NYSE: LMT) recently won a $15.9 million modification to a firm-fixed-price order against a previously issued basic-ordering agreement with the U.S. Navy.
This modification exercises an option to procure seven retrofit advanced-radar processor systems for the E-2D aircraft. Work will be performed in Salina (54 percent) and Andover, Massachusetts (46 percent), and is expected to be completed in February 2026.
Fiscal 2022 aircraft procurement (Navy) funds totaling $15,896,254 will be obligated at time of award — none of which will expire at the end of the current fiscal year. The Naval Air Systems Command in Patuxent River, Maryland is the contracting authority.
Broome County hotel occupancy jumps nearly 44 percent in October
BINGHAMTON, N.Y. — Broome County hotels welcomed substantially more guests in October than in the year-ago month, according to a recent report. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county increased 43.9 percent to 59 percent in October, according to STR, a Tennessee–based hotel market data and analytics company.
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BINGHAMTON, N.Y. — Broome County hotels welcomed substantially more guests in October than in the year-ago month, according to a recent report.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county increased 43.9 percent to 59 percent in October, according to STR, a Tennessee–based hotel market data and analytics company. It was the eighth consecutive monthly increase in occupancy in the county as the year-over-year comparisons were to a month in 2020 affected significantly by the COVID-19 pandemic. Year to date, occupancy is up 37.6 percent to 53.3 percent.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, soared 85.7 percent to $58.96 in October. Through the first 10 months of this year, RevPar is up 63.5 percent to $48.66.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 29 percent to $99.93 in the county in the 10th month of the year. Year to date, ADR is up 18.8 percent to $91.23.
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