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Stifel renews lease for Skaneateles office
SKANEATELES, N.Y. — The national financial-services firm Stifel recently renewed the lease of its Skaneateles branch office. Stifel’s office is located in suite 2 at 36 Jordan St. in the village of Skaneateles. Randy Powers is the office branch manager and a financial advisor, according to the Stifel website. Frederick Shibel and Dan Wright are […]
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SKANEATELES, N.Y. — The national financial-services firm Stifel recently renewed the lease of its Skaneateles branch office.
Stifel’s office is located in suite 2 at 36 Jordan St. in the village of Skaneateles. Randy Powers is the office branch manager and a financial advisor, according to the Stifel website. Frederick Shibel and Dan Wright are also financial advisors at this location.
Bill Evertz and Sam Vulcano from Cushman & Wakefield/Pyramid Brokerage Company negotiated the lease renewal. Evertz represented the landlord and Vulcano represented the tenant, Stifel.
Sonbyrne Sales, Inc. owns the 36 Jordan St. property, which has a 2021 total assessment of more than $576,000, according to Onondaga County’s online real-estate records.

USDA launches $100M loan-guarantee program to expand meat and poultry processing capacity
The United States Department of Agriculture (USDA) on Oct. 4 announced that the department is planning for another $100 million in funding from the American Rescue Plan Act. The money would leverage hundreds of millions more in lending through community and private-sector lenders to expand meat and poultry processing capacity and finance other food supply-chain
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The United States Department of Agriculture (USDA) on Oct. 4 announced that the department is planning for another $100 million in funding from the American Rescue Plan Act.
The money would leverage hundreds of millions more in lending through community and private-sector lenders to expand meat and poultry processing capacity and finance other food supply-chain infrastructure. The goal is to expand competition and alleviate bottlenecks in the food-supply chain that were exacerbated by the pandemic and helped lead to meat shortages and higher prices.
The USDA plans to publish specific details on the new program and how to apply as part of USDA’s Build Back Better Initiative, a plan to invest $4 billion to “strengthen the resiliency of America’s food supply chain while promoting competition.” The new commitment of $100 million for loan guarantees comes on top of the previously announced $500 million in federal spending to expand meat and poultry processing capacity.
Through this program, USDA will use $100 million in funding from the American Rescue Plan Act to “catalyze millions more in lending available for working capital, facilities, equipment, and other investments.” The loan guarantees seek to help to start up or expand businesses in the food supply chain that aggregate, process, manufacture, wholesale, or distribute food; address supply-chain disruptions; and increase the resiliency of the food supply chain.
The USDA is preparing to issue a notice soon to announce eligibility requirements and the application window.

The company that’s building its $1 billion Mohawk Valley Fab near Utica is now operating under a new name. Durham, North Carolina–based Cree Inc. has changed its name to Wolfspeed, Inc. (NYSE: WOLF). The renamed firm specializes in silicon-carbide technology and production. The Mohawk Valley Fab — which is under construction at the Marcy Nanocenter on the
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The company that’s building its $1 billion Mohawk Valley Fab near Utica is now operating under a new name.
Durham, North Carolina–based Cree Inc. has changed its name to Wolfspeed, Inc. (NYSE: WOLF). The renamed firm specializes in silicon-carbide technology and production.
The Mohawk Valley Fab — which is under construction at the Marcy Nanocenter on the SUNY Polytechnic Institute campus in Marcy — has been described by New York State as the “world’s largest silicon carbide device manufacturing facility.”
The company in early November 2020 said it expects production to begin there in 2022.
Wolfspeed has served as the brand name for the company’s silicon-carbide materials and semiconductor-devices business unit for the past six years. The company contends the name Wolfspeed “conveys both the noble traits of the wolf — leadership, intelligence and endurance — and speed, characterized by the pace at which the company innovates and operates…”
“Today officially marks a transformative milestone for Wolfspeed as we are now a pure-play global semiconductor powerhouse,” Gregg Lowe, CEO at Wolfspeed, said. “The next generation in power semiconductors will be driven by Silicon Carbide technology, with superior performance that unleashes new possibilities and positive changes to the way we live.”
Lowe joined the company in September 2017.
Wolfspeed says it has forged multi-year, long-term materials agreements totaling more than $1.3 billion across several industries, has a device pipeline that totals more than $15 billion, and an increased production capacity 30 times larger than previous facility plans.
The company says its technology is key to the electrification of the drivetrain to support the shift to electric vehicles, wireless infrastructure to unlock the potential of smart cities, and power storage to enable broader adoption of renewable energy.

With upcoming retirement, Preferred Mutual appoints new leadership
The firm on Oct. 4 announced the promotion of R. Benedikt Sander to the role of president and CEO, effective Jan. 1. PMIC has also promoted Jeffrey Lopata to COO and executive VP, also effective at the beginning of the new year, per a company news release. Preferred Mutual Insurance is based in New Berlin
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The firm on Oct. 4 announced the promotion of R. Benedikt Sander to the role of president and CEO, effective Jan. 1.
PMIC has also promoted Jeffrey Lopata to COO and executive VP, also effective at the beginning of the new year, per a company news release.
Preferred Mutual Insurance is based in New Berlin in Chenango County.
PMIC’s current CEO, Christopher Taft, will be retiring but will become the chairman of the company’s board of directors. In that role, Taft replaces Robert Wadsworth, who will continue to support PMIC as a member of the board.
“As we position PMIC for its next chapter, we’ve identified an opportunity to strengthen our corporate structure by promoting two individuals who will lead PMIC into the future,” said Taft. “My new role as chairman of the board will allow me an opportunity to continue to focus on shaping the culture and strategic direction of PMIC in partnership with our leadership team.”
Sander, who joined PMIC in June 2019, has been serving as EVP, insurance operations, and has more than 20 years of leadership experience in the insurance industry. In his time at PMIC, he has supported strategies to improve company growth and profitability as well as initiatives that “foster strong relationships” with employees, agents and business partners.
“I am humbled to be PMIC’s next leader and am looking forward to continuing its proud 125-year-old tradition of being centered on our community, our policyholders, our agents and all our employees,” Sander said. “We have a supremely talented team at PMIC and I look forward to working closely with Jeff Lopata, the leadership team, our new chairman Chris Taft, and the board of directors as we chart the course to continued success.”
Lopata, who has been serving as EVP, chief strategy officer, has worked on PMIC’s strategic-planning initiatives across several key areas of the company during his 17-year tenure. Those areas include information technology, enterprise project management, and the development of many business strategies and services.
In business since 1896, Preferred Mutual Insurance Company provides property and casualty insurance coverage to more than 232,000 individual and business customers through a network of more than 500 independent agents throughout New York, New Jersey, Massachusetts, and New Hampshire.
Building on Fly Road in DeWitt sold for $615,000
DeWITT, N.Y. — The 15,871-square-foot industrial building on nearly four acres of land at 6940 Fly Road in DeWitt was recently sold. Fly Road Properties LLC bought the property for $615,000, according to Cushman & Wakefield/Pyramid Brokerage Company. The real-estate firm’s agent, Elaina Pirro, represented the buyer in this transaction. The one-story building was constructed
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DeWITT, N.Y. — The 15,871-square-foot industrial building on nearly four acres of land at 6940 Fly Road in DeWitt was recently sold.
Fly Road Properties LLC bought the property for $615,000, according to Cushman & Wakefield/Pyramid Brokerage Company. The real-estate firm’s agent, Elaina Pirro, represented the buyer in this transaction.
The one-story building was constructed in 1980. The 2021 total assessment and full market value for the 3.84-acre property is listed at $508,000, according to Onondaga County’s online real-estate records.

New Kinney Drugs president says pharmacy chain must be different
GOUVERNEUR, N.Y. — New Kinney Drugs President John Marraffa says his vision for the company is to “create a customer experience unmatched by others.” “By building on our 118-year history, I hope to reinforce a standard of excellence that transcends traditional pharmacy,” Marraffa said in a release. “We must be different. By expanding our services,
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GOUVERNEUR, N.Y. — New Kinney Drugs President John Marraffa says his vision for the company is to “create a customer experience unmatched by others.”
“By building on our 118-year history, I hope to reinforce a standard of excellence that transcends traditional pharmacy,” Marraffa said in a release. “We must be different. By expanding our services, enhancing the patient experience, and maximizing our partnerships, I believe that Kinney Drugs will become a premier health care destination. I am very excited to become part of this Kinney legacy.”
Marraffa takes over the duties that Rebecca Bubel previously held before stepping down from the role to deal with a family matter, Judith Cowden, senior director of marketing and advertising at Kinney, tells CNYBJ in an email.
Kinney Drugs — a fully employee-owned pharmacy chain in New York and Vermont — is headquartered in Gouverneur in St. Lawrence County.
Marraffa joined KPH Healthcare Services in 2019 as VP of government affairs and health-care services integration. Since then, he launched a new division, “Kinnect,” an onsite pharmacy for specialized health-care facilities.
Kinney Drugs is part of the KPH Healthcare Services family of companies, a national provider of pharmaceutical and health-care services with businesses in both the retail and commercial segments of the industry.
Besides launching Kinnect, Marraffa also expanded Kinney’s “Delivery at Discharge” program, introduced a patient-safety organization, and led Kinney’s extensive corporate COVID-19 vaccination and testing response.
Marraffa also serves as patient-safety officer to provide leadership and direction to the organization’s patient-safety strategy. He is responsible for continuously evaluating and improving patient-safety programs based on internal needs and external requirements and standards.
“John is extremely well-qualified to lead the dedicated team of Kinney Drugs employee-owners. John really knows his stuff and is a natural leader with a true talent for getting to the heart of a matter, taking decisive action, and doing whatever it takes to accomplish objectives,” David Warner, CEO of Kinney Drugs, said in the release. “I am confident that he will propel our company forward at a time of great change within the retail drugstores and pharmacies. Internally, he will galvanize our teams and foster an environment of excellence that will continue to attract the highest caliber of talent.”
Before joining the company in 2019, Marraffa had a 14-year career with Walgreens, where he most recently served as regional health-care director for New York, New Jersey, and Pennsylvania.
Marraffa earned a bachelor’s degree in pharmacy from Albany College of Pharmacy and Health Sciences. He is licensed to practice pharmacy in New York, Illinois, and Vermont.
American Heart Association names 6 new advisory-board members
SYRACUSE, N.Y. — The American Heart Association (AHA) recently announced that six new, local volunteer leaders have joined its advisory board. Here is a brief description of the new board members. Aida Byrne — director of corporate communications for the eastern markets at Excellus BlueCross BlueShield. She also volunteers with the Crouse Auxiliary Board, Arc
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SYRACUSE, N.Y. — The American Heart Association (AHA) recently announced that six new, local volunteer leaders have joined its advisory board.
Here is a brief description of the new board members.
Aida Byrne — director of corporate communications for the eastern markets at Excellus BlueCross BlueShield. She also volunteers with the Crouse Auxiliary Board, Arc Onondaga Foundation Board, and Utica College Business College Advisory Committee. Byrne comes from a family of seven children, five of whom — including herself — have heart disease, as do both her parents.
Amy Grover — sport-medicine coordinator and employee wellness-program coordinator at Syracuse Orthopedic Specialists. She has been a practicing athletic trainer since 2007. Before joining the board, Grover served on the American Heart Association’s Wellness Summit planning committee and serves as the chairwoman of the Community Action Committee.
Kenneth Hills — chief operating officer at Syracuse Model Neighborhoods (Southwest Community Center). He joined Syracuse Model Neighborhoods in October 2020, taking on the duties of all operations of the Southwest Community Center and its programs. Prior to that, he worked for the City of Syracuse Water Department for seven years.
LaToya M. Jones — a nurse who currently serves as a regional health-care advocate in Syracuse and Central New York with the Healthcare Education Project. Jones served as the First VP of the Syracuse Onondaga NAACP, is the founder of The Joe Family Foundation for Disability Advocacy Inc., serves on the boards of Syracuse-Onondaga Food Systems Alliance (SOFSA) and David’s Refuge, and is past president & founder of Black Nurses Rock Syracuse Chapter Inc.
Derrick L. Murry — chief operating officer of the Syracuse Community Health Center, Inc. In this role, which he has held since 2015, he oversees health-care access to more than 30,000 residents, many of whom are impacted by social determinants that impede care. In 2012, Murry served as the chairman of the Syracuse Heart Walk.
Randy Tuthill — chief financial officer at C&S Companies. He is interested in giving back to the community as an AHA board member, as well as in his role with the Camp Talooli’s board of directors. Tuthill joined the Cycling Challenge at the 2021 Syracuse Heart Challenge and cycled for two hours to help fundraise for his team.
“The American Heart Association has a mission to save lives, but we can’t do that without volunteers,” Franklin Fry, executive director of the American Heart Association in Syracuse, said in a release. “The Syracuse advisory board is a group of dedicated local leaders that is truly making a difference in the health of our community.”
The new members join an award-winning advisory board. The Syracuse area advisory board has been honored with the national Gold Standard Board designation from the American Heart Association for nine consecutive years. The board was recently recognized again at the silver level, per the release.
The AHA also thanked the following board members who have stepped down from the board: Dr. Luis Castro, St. Joseph’s Health; Mara Charlamb, United Radio; Angela Franco, Fust Charles Chambers, LLP; Troy Hogue, AMR; Jerry Jean-Louis, Bristol-Myers Squibb; Randy Sabourin, Metro Fitness Clubs; Samuel Stamps, C&S Companies; and Larry Williams, Syracuse Community Connections.

Syracuse-Rome drone corridor to host 5G test network
SYRACUSE, N.Y. — A 5G test network for unmanned aircraft is coming to the 50-mile unmanned-aircraft systems (UAS) corridor between Syracuse and Rome. NUAIR hopes to have the necessary components to begin the testing before the end of the year, Tim Lawton, director of marketing & public relations for NUAIR tells CNYBJ in an email.
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SYRACUSE, N.Y. — A 5G test network for unmanned aircraft is coming to the 50-mile unmanned-aircraft systems (UAS) corridor between Syracuse and Rome.
NUAIR hopes to have the necessary components to begin the testing before the end of the year, Tim Lawton, director of marketing & public relations for NUAIR tells CNYBJ in an email.
The MITRE Engenuity Open Generation 5G Consortium will bring 5G to the corridor, the office of Gov. Kathy Hochul announced in a news release.
MITRE Engenuity’s Open Generation Consortium brings together diverse technical viewpoints from market leaders, innovative startups, industry associations, academics, and government liaisons, per its website. MITRE Engenuity is based in McLean, Virginia, according to its LinkedIn page.
Open Generation says it has determined this corridor is a “prime location” to launch the nation’s first 5G unmanned-aircraft systems testing range, a designation that will enhance New York’s position in this emerging technology sector.
“5G is the 5th generation mobile network … [which] enables a new kind of network that is designed to connect virtually everyone and everything together including machines, objects, and devices,” per the website for Qualcomm (NASDAQ: QCOM), a San Diego, California–based semiconductor company.
NUAIR, a Syracuse–based nonprofit organization that provides expertise in unmanned-aircraft systems, is a member of Open Generation. NUAIR manages New York’s 50-mile UAS corridor and is working on advancing 5G innovation in unmanned-aircraft systems.
A UAS includes a drone and equipment used to control its flight. A drone is also referred to in the industry as an unmanned aerial vehicle, or UAV.
With coordination from NUAIR, the corridor will include an experimentation hub with more than 100 square miles dedicated to 5G beyond-visual-line-of-site testing and long-range flight paths — a capability critical to the commercialization of safe and secure unmanned aircraft systems.
The 5G technology for New York’s drone corridor “represents a new milestone for the sector’s continued development in the state,” Hochul’s office said. Within this corridor, strategic investments are accelerating industry growth by supporting “emerging uses in key industries,” including agriculture and forest management, transportation and logistics, media and film development, utilities and infrastructure, and public safety.
“New York will be the first [Federal Aviation Administration (FAA)]-designated UAS test site with a bespoke 5G network,” NUAIR CEO Ken Stewart said. “The industry is looking for an FAA and [Federal Communications Commission] approved communications network that has the capability and reliability needed for safe commercial drone operations. 5G holds the promise of unlocking scalable, economically viable drone operations and we are confident that our work in New York will help determine if 5G is a suitable solution for the UAS industry.”
New York State made a $30 million investment in 2016 to develop the 50-mile flight-traffic management system between Syracuse and Griffiss International Airport in Rome. In total, the state has invested nearly $70 million over the past five years to advance the UAS industry in Central New York and the Mohawk Valley.

Crews complete $20M affordable-housing project in Herkimer
HERKIMER, N.Y. — Crews recently completed a $20 million renovation of the Eastern Gardens Apartments in the village of Herkimer in Herkimer County. Now known as Stone Ridge Mills, the rehabilitated public-housing development offers 63 new energy-efficient and affordable homes for families, according to a news release from the office of Gov. Kathy Hochul. Built
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HERKIMER, N.Y. — Crews recently completed a $20 million renovation of the Eastern Gardens Apartments in the village of Herkimer in Herkimer County.
Now known as Stone Ridge Mills, the rehabilitated public-housing development offers 63 new energy-efficient and affordable homes for families, according to a news release from the office of Gov. Kathy Hochul.
Built in 1954, the original apartment complex included seven two-story buildings with 48 apartments. Rehabilitation work included new roofs and siding, energy-efficient windows, open floor plans, upgraded security systems, high-efficiency lighting, low-flow plumbing fixtures, new kitchens and bathrooms, and Energy Star appliances.
Construction crews also built an additional two-story building with 15 new apartments. All buildings meet the standards of the New York State Energy and Research Development Authority’s low-rise residential new construction program, EPA’s Performance Path with Energy Star, and those of Enterprise Green Communities, the release noted.
Stone Ridge Mills features 14 one-bedroom, 34 two-bedroom, 10 three-bedroom, and five four-bedroom apartments. Most apartments are affordable to households earning at or below 50 percent of the area median income.
The complex includes eight fully accessible apartments for mobility-impaired residents and five fully accessible apartments for hearing/vision impaired residents. Seven apartments are set aside for those who are homeless or at risk of homelessness.
Stone Ridge Mills is located near public transportation, shopping, a bank, hospital, and Herkimer College. An existing Head Start facility that provides free on-site programs for children is being relocated from the community building to another Herkimer Housing Authority property, Stone Ridge Daycare, so that the building can be returned for use as community space. The rehabilitated community building now has energy-efficient mechanical, electrical, plumbing, fire-suppression systems, and accessible laundry facilities, as well as new playgrounds and sidewalks.
The project developer is the Herkimer Housing Authority with Edgemere serving as housing consultant. State financing for the development came through New York State Homes and Community Renewal’s (HCR) allocation of federal and state low-income housing tax credits that generated nearly $16 million in equity and
$2.4 million from the Public Housing Preservation program. An additional $1.3 million was awarded by HCR through the Rural and Urban Community Investment Fund to finance the relocation and upgrade of the Head Start facility. NYSERDA also provided $63,000 in funding.
CEO FOCUS: Proposed Investments Will Create a More Vibrant Community
Right now, there are projects and investments being proposed at a level we have not seen in generations. Over the past year, our business-development team has been actively tracking more than $89 million in proposed projects that are interested in expanding and locating in Central New York. Not only do these investments drive growth, progress, and economic
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Right now, there are projects and investments being proposed at a level we have not seen in generations. Over the past year, our business-development team has been actively tracking more than $89 million in proposed projects that are interested in expanding and locating in Central New York. Not only do these investments drive growth, progress, and economic opportunity, but they also help create a more vibrant and culturally rich region that we know is so critical to businesses’ efforts to attract and retain talent.
In addition to this surge in business-development interest, regional stakeholders are making commitments to drive new tourism-rich opportunities. [In September], Onondaga County proposed a $25 million soccer and lacrosse regional sports complex in Salina that would generate about 400 jobs. This investment could attract 500,000 people a year which would generate $20 million in direct spending, and more than $1 million in sales and hotel room-tax revenues annually.
The county also announced [recently] an $85 million aquarium at the Inner Harbor. The project could attract 500,000 people each year, drive $50 million in economic impact and be a significant catalyst for further development at the harbor, which has long been a priority for development.
These regional tourism initiatives will support the continued revitalization of our urban core as well. Later this month, the Downtown Committee of Syracuse’s “Good Morning Downtown Syracuse Progress Breakfast” will focus on investing in our community. The virtual event will highlight projects and their impact, such as the $37 million City Center redevelopment, which will transform a large section of the former Sibley’s Department Store into mixed-use space. This project includes façade improvements, a new entrance for Redhouse, and new headquarters for the Alion Science and Technology Corp. Additionally, the event will celebrate the impact of tourism drivers like the return of live theater to downtown this fall. [Representing] one of downtown’s largest employers, National Grid, CenterState CEO Board Chair Melanie Littlejohn will be on hand to share her perspective on this progress.
These investments and the many others in the pipeline are part of an exciting period of growth that will make our community an attractive place to live and work — one that is writing a new future for this region. To learn more, contact Andrew Fish, CenterState CEO’s senior VP of business development, at afish@centerstateceo.com.
Robert M. Simpson is president and CEO of CenterState CEO, the primary economic-development organization for Central New York. This article is drawn and edited from the “CEO Focus” email newsletter that the organization sent to members on Oct. 7.
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