NYPA CEO departing for top job at Illinois utility

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WHITE PLAINS, N.Y. — After 10 years in the role, Gil Quiniones, president and CEO of the New York Power Authority (NYPA), will leave NYPA in early November to become CEO at Commonwealth Edison Company (ComEd). ComEd is the largest electric utility in Illinois. Its parent company — Chicago, Illinois–based Exelon — operates the Nine […]

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ComEd is the largest electric utility in Illinois. Its parent company — Chicago, Illinois–based Exelon — operates the Nine Mile Point nuclear-power station in Oswego County.

NYPA announced Quiniones’ resignation on Oct. 14.

Justin Driscoll, NYPA executive VP and general counsel, will become the interim president and CEO. Quiniones will remain at NYPA until Nov. 5 and will work with Driscoll to support the transition.

“After considerable thought, I have decided that taking on this new challenge is the right move for me and my family,” Quiniones said in a statement. “While I look forward to this opportunity with excitement and anticipation, these feelings are mixed with the sadness of knowing I will miss amazing colleagues and the great sense of pride I have in all that we have accomplished together.”

Quiniones’ 10-year tenure makes him the longest-serving president and CEO in the history of NYPA, the nation’s largest state public-power organization. He has worked at the Power Authority for 14 years, serving previously as executive VP of energy marketing and corporate affairs and as COO.

Under Quiniones’ leadership, NYPA says it has carried out or planned several initiatives to upgrade and modernize its power generation and transmission assets and has played a central role in New York State’s climate-change efforts. During his tenure, NYPA has aggressively promoted the growth of renewable-energy technologies, energy efficiency, and electric transportation, including efforts to soon become one of the nation’s first end-to-end digital utilities.

In 2017, he led NYPA in integrating the New York State Canal Corporation into its operations and has launched the Reimagine the Canals program, an effort focused on realizing the canals’ potential for tourism, recreation, and environmental protection.

As the largest state public power organization in the nation, NYPA operates 16 generating facilities and more than 1,400 circuit-miles of transmission lines.

New York manufacturing index slips 15 points in October

Banks & Credit Unions, Manufacturing & Engineering, New York News, Subscriber Only

Still indicates solid sector growth The Empire State Manufacturing Survey general business-conditions index fell 15 points to 19.8 in October, “pointing to a slower pace of growth than last month.” The index — the monthly gauge of New York’s manufacturing sector — missed economists’ expectation of a reading of 25, according to a survey

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Still indicates solid sector growth

The Empire State Manufacturing Survey general business-conditions index fell 15 points to 19.8 in October, “pointing to a slower pace of growth than last month.”

The index — the monthly gauge of New York’s manufacturing sector — missed economists’ expectation of a reading of 25, according to a survey by The Wall Street Journal.

The October reading — based on firms responding to the survey — indicates business activity in New York still “grew at a solid pace,” the Federal Reserve Bank of New York said in its Oct. 15 report. A positive index number indicates expansion or growth in manufacturing activity, while a negative reading points to a decline in the sector.

The survey found 39 respondents reported that conditions had improved over the month, while nearly 20 percent indicated that conditions had worsened, the New York Fed said.

Survey details

The new-orders index declined 9 points to 24.3, and the shipments index moved down 18 points to 8.9, indicating that growth “slowed” in both orders and shipments.

The unfilled-orders index was little changed at 18.5. The delivery-times index inched up to a record high of 38.0, indicating “significantly longer” delivery times, the New York Fed said. Inventories increased “modestly.”

The prices-paid index rose 3 points to 78.7 and the prices-received index fell 4 points to 43.5, with both indexes holding near record highs. The index for number of employees came in at 17.1 and the average-workweek index declined 9 points to 15.3, pointing to “ongoing gains” in employment and hours worked.

The index for future business conditions increased 4 points to 52.0, indicating “continuing optimism” about the six-month outlook.

New orders and shipments are both expected to increase “strongly” in the months ahead. Substantial increases in employment and prices are also expected. Both capital spending and technology spending increased “significantly.”

The New York Fed distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York. On average, about 100 executives return responses.

Keaton & Lloyd Bookshop formally opens in Rome Arts District

Construction, Design & Real Estate, Regional News, Small Business, Subscriber Only

ROME, N.Y. — Keaton & Lloyd Bookshop, LLC recently formally opened in the Rome Arts District. The new bookstore at 236 W. Dominick St. held a grand-opening event on Thursday, Oct. 21 with the Rome Area Chamber of Commerce. Jason Tockey, executive director of the Rome Art & Community Center, presented a “First Dollar of

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Brown & Brown Insurance boosts quarterly dividend by nearly 11 percent

Insurance & Financial Services, Regional News, Subscriber Only

Brown & Brown, Inc. (NYSE: BRO), the Florida–based parent of Syracuse–based Brown & Brown Empire State, recently announced that its board of directors has declared a regular quarterly cash dividend of 10.25 cents a share. The dividend is payable on Nov. 17 to shareholders of record on Nov. 3, the insurance agency said in a news

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Fountainhead Group breaks ground on Frankfort distribution center

Construction, Design & Real Estate, Regional News, Subscriber Only

FRANKFORT, N.Y. — The Fountainhead Group, Inc. broke ground Oct. 13 on its new central distribution center to be built in Frankfort in Herkimer County. “This new distribution center comes on the heels of explosive growth over the past two years when The Fountainhead Group discovered its technology could support the fight against the COVID-19

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Site-Seeker president sees opportunity, growth with HQ move

Construction, Design & Real Estate, Regional News, Subscriber Only, Technology

UTICA, N.Y. — Even amidst a pandemic, which in the minds of many has diminished the importance of physical workplaces, digital-marketing firm Site-Seeker recently unveiled its new headquarters in downtown Utica, moving from nearby New Hartford. “For those who do like the office environment [and] being with your teammates every day, we knew that we

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“For those who do like the office environment [and] being with your teammates every day, we knew that we needed to continue to provide a home base … somewhere that people could call home,” Site-Seeker President Matt Ford tells CNYBJ in a phone interview. Ford is also a co-owner of Site-Seeker alongside Brian Bluff, who co-founded the company in 2003 with his now-retired brother Eddie.

Site-Seeker finalized the move to a 1,200-square-foot space at 287 Genesee St. in early September. In addition to the new headquarters in Utica, the company has satellite branches in Las Vegas; Atlanta; Washington, D.C.; and Pinehurst, North Carolina. Seven employees currently work from the Utica office.

Site-Seeker was formerly based in New Hartford for more than 10 years. The firm provides services such as web development, search-engine optimization, digital marketing and advertising, and analytics.

Selecting a new HQ site

Ford says that the company’s search for a new headquarters began this past spring. Site-Seeker considered about six locations for the relocation in Utica, as well as others in Syracuse and as far afield as Rochester.

“The staff, through strategic conversations and strategic planning, had always indicated that community was important to them,” Ford says. Utica fit the bill, particularly following the New York governor’s-office announcement in May of a $10 million award for the city’s Downtown Revitalization Initiative. The money is set to go toward the renovation of buildings, improvement of public spaces, and the stimulation of arts and business.

The construction of the nearly $550 million Wynn Hospital of the Mohawk Valley Health System (MVHS) in downtown Utica, which MVHS expects to open in 2023, is another draw for wanting to be located in downtown.

“And so, we thought … with the revitalization of downtown Utica surrounding the hospital, that the area was a great location,” Ford says.

Site-Seeker has already begun to connect with the local community through a series of seminars on topics in digital marketing that are open to the public.

“We’re trying to add value [for] the people of the community, current clients, and other people interested in the services we offer,” Ford says of the seminars, adding that attendance has been good at the events so far. Those services include lead-generation technology, which Ford says “helps businesses understand who [website] visitors are and gives [the businesses] the ability to connect with them.” Site-Seeker holds the seminars in-person at the Utica office and virtually and promotes them on the Site-Seeker Facebook page.

The new office location was brought to the company’s attention through word of mouth, both from employees and customers, Ford says. He adds that the office was under renovation when it was first shown, but “we could see our space and we brought it to life.”

Ford expects the move to pay off in multiple ways.

“Moving to a new office space typically lifts the entire team, affecting morale and productivity in a positive way,” he says in an email. “By being recognized as a fixture in the downtown community, we’re already building more localized relationships and that will likely impact our revenue in a good way.”

Site-Seeker held a ribbon-cutting ceremony at its new office with the Greater Utica Chamber of Commerce on Oct. 1.

Ramboll begins work conducting energy audit of Empire State Plaza in Albany

Energy, Environment & Sustainability, Subscriber Only

ALBANY, N.Y. — Ramboll, a Copenhagen, Denmark–based firm that operates an office in Syracuse, is conducting an energy audit of Empire State Plaza. The effort is part of the state’s goal to “green the plaza” and generate 100 percent of the electricity in the state through renewable energy by 2040. Ramboll’s offices in Syracuse, Albany,

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ALBANY, N.Y. — Ramboll, a Copenhagen, Denmark–based firm that operates an office in Syracuse, is conducting an energy audit of Empire State Plaza.

The effort is part of the state’s goal to “green the plaza” and generate 100 percent of the electricity in the state through renewable energy by 2040.

Ramboll’s offices in Syracuse, Albany, and New York City are handling the audit work.

The New York Power Authority (NYPA) and New York State Office of General Services (OGS) selected Ramboll to conduct the audit.

Ramboll in 2019 acquired Syracuse–based OBG, which was previously known as O’Brien & Gere. Ramboll is an energy, environment, and health-sustainability consulting firm.

The 18-month energy audit will help the state in determining the benefit and feasibility of introducing existing and new energy innovations at the plaza. The planning includes the analysis and consideration of the impacts of the current and future utility operations of the plaza on the local and state community.

After a series of technical reviews, community listening sessions, and meetings with neighborhood associations, the energy audit will look to expand on the current efforts already underway at the plaza. Those efforts were announced in 2019 after NYPA and OGS completed an evaluation of energy options for the plaza.

The plaza’s current heating and cooling system uses a boiler-steam plant — powered by natural gas — to provide heating for the plaza in the winter months. It also leverages the high-pressure steam from the boilers to power several chillers for cooling in the summer months, OGS said. The plaza’s aging energy system “needs to be modernized” to support the 13,000 state employees who work there, the state says.

The goals of the audit include developing a path toward “significantly” reducing the plaza’s dependance on fossil fuels, including an investigation of geothermal and surface water as an energy source

In addition, the audit seeks to reduce the impact of the Empire State Plaza facilities on the local community and environment, along with maintaining and improving the energy resiliency of the plaza.

SECNY, Jordan-Elbridge School District open student-run branch at high school

Banks & Credit Unions, Health Care, Subscriber Only

ELBRIDGE, N.Y. — SECNY Federal Credit Union and the Jordan-Elbridge Central School District on Oct. 19 formally opened a student-run credit-union branch at the high school. The Eagle branch, as SECNY is calling it, will be open on Tuesdays and Thursdays during lunch periods when school is in session at the high school, located at

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ELBRIDGE, N.Y. — SECNY Federal Credit Union and the Jordan-Elbridge Central School District on Oct. 19 formally opened a student-run credit-union branch at the high school.

The Eagle branch, as SECNY is calling it, will be open on Tuesdays and Thursdays during lunch periods when school is in session at the high school, located at 5721 Hamilton Road in the town of Elbridge. It will be used to assist students with real-life financial education, personal-finance activities, and employability skills.

The student branch is designed specifically for staff and students — and potential family members — who are authorized to be in the building during hours of operation. It is not open to the general public, Courtney Fulmer, chief experience officer at SECNY Federal Credit Union, tells CNYBJ in an email.

The program came to fruition through the involvement of Meghan Voit, a teacher at Jordan-Elbridge and Mark Schermerhorn, principal at Jordan-Elbridge High School, SECNY said.

Services at the branch will include a traditional teller line with the ability to complete basic transactions as well as account opening and online/mobile-service offerings. Students and staff within the school may become SECNY members, make deposits, and access free e-services.

A select group of students will perform various credit-union job functions as member-service representatives, with “opportunity for growth” as the year progresses. SECNY and Jordan-Elbridge staff will oversee the branch.

During this process, students completed interviews, orientation activities, and training sessions. They learned about financial products and services, security and confidentiality processes, and got a “full scope” look at the inner workings of a financial institution.

The addition of the Eagle branch marks the third student-run credit-union branch SECNY has opened in the last three years. The other two branches are at Onondaga Junior/Senior High School and LaFayette Junior/Senior High School.

“The student branch programs are incredibly beneficial not only for students and school staff but also for their families and our communities,” Fulmer contended in a SECNY news release. “They foster real-world financial responsibility combined with learned job skills and the sense of teamwork necessary for future success.”

SEFCU to expand through a merger in 2022

Banks & Credit Unions, Construction, Design & Real Estate, Regional News, Subscriber Only

ALBANY, N.Y. — The planned merger of Albany–based SEFCU, which operates branches in Central New York, and CAP COM is still on track for completion in 2022. That’s according to Ken Jubie, VP of communications and public relations at SEFCU. Both SEFCU and CAP COM, another federal credit union headquartered in New York’s Capital Region,

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ALBANY, N.Y. — The planned merger of Albany–based SEFCU, which operates branches in Central New York, and CAP COM is still on track for completion in 2022.

That’s according to Ken Jubie, VP of communications and public relations at SEFCU.

Both SEFCU and CAP COM, another federal credit union headquartered in New York’s Capital Region, announced their plans in late July.

The boards of directors of both organizations “unanimously” voted to approve a “merger of equals” that will become “fully integrated next year,” SEFCU said July 29. Financial terms of the agreement weren’t disclosed.

The due-diligence process and required regulatory approval of both the National Credit Union Administration and the New York State Department of Financial Services, along with the membership vote, will likely result in the merger closing in 2022.

The newly combined entity will have a new name to “reflect the respective histories and common values” of both organizations.

SEFCU and CAP COM leaders have been exploring a potential merger, and throughout their discussions, “found a consistent mission, common purpose, and shared vision that prioritizes our employees, members, and communities,” SEFCU said.

SEFCU’s current employee headcount is about 950, and CAP COM has about 450 workers. The combined entity will have about 1,400 total employees, according to Jubie.

The credit unions emphasize their upcoming merger won’t result in any layoffs but will “provide the scale necessary to create greater opportunities for existing employees, the need for additional team members, and significant advancements in products, services, and support for members and community partners,” per a SEFCU news release.

This effort will create a new $8 billion credit union, which the organizations say will be the “largest financial institution in the Capital Region” based on local deposits, and one of the top five credit unions in the state. The unified financial institution will also become one of the 30 largest credit unions in the nation, SEFCU said.

About the credit unions

Established in 1934, SEFCU is among the 50 largest credit unions in the U.S. with more than $5 billion in assets, over 350,000 members, and more than 50 branches in the Albany, Binghamton, Syracuse, and Buffalo areas.

CAP COM is a member-owned financial institution with more than $2 billion in assets and 12 branch locations, all in the Capital Region. The credit union was established in 1953 and has more than 140,000 members.

Tompkins promotes Dresser to mortgage-loan officer

Banks & Credit Unions, Regional News, Subscriber Only

ITHACA, N.Y. — Tompkins Trust Company recently announced it has promoted Kristina Dresser to residential mortgage-loan officer. With 15 years of experience in the financial industry, Dresser has served as assistant branch manager of Tompkins Trust Company’s Trumansburg office for six years. In her new role, Dresser will be responsible for assisting customers throughout their

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