economy

Elmira faces ups and downs of gas business

Matt Richmond — Tue, 30 Apr 2013 09:47:00 +0000

The City of Elmira is just seven miles from the Pennsylvania border. And for four years, the natural gas boom in Pennsylvania’s Northern Tier crossed over the border and boosted Elmira’s economy. But that boom has slowed down.

Community comes out to support Fort Drum as Army reorganizes

Joanna Richards — Mon, 29 Apr 2013 10:58:23 +0000

About 200 community members turned up in a school auditorium in Watertown Thursday night in a showing of regional support for Fort Drum. The event was billed as a “listening session” for the Army, to inform a process of personnel cutbacks and reorganization currently affecting military installations around the country.

Maffei marks 100 days back in office by talking jobs

Ryan Delaney — Tue, 16 Apr 2013 16:15:00 +0000

Central New York's congressman has marked his first 100 days back in office by laying out a blueprint for jobs and the economy.

How the "innovation agenda" faired in the state budget

Ryan Delaney and Kate O'Connell — Fri, 29 Mar 2013 20:23:29 +0000

Gov. Andrew Cuomo laid out an ambitious agenda around economic growth, innovation and clean energy in his proposed 2013-2014 Executive Budget.

Domestic drone industry may bring $443 million to New York

Ryan Delaney — Tue, 12 Mar 2013 19:04:35 +0000

New York state is poised to become one of the nation's leading economic beneficiaries of a burgeoning domestic drone industry, according to a new report from an industry trade group.

State Assembly approves minimum wage

Karen Dewitt — Wed, 06 Mar 2013 12:04:00 +0000

The New York State Assembly voted to raise the state’s minimum wage to $9 an hour, but the measure is stalled in the state Senate.

Federal sequester means deep cuts at Fort Drum, impact on regional economy

Joanna Richards — Thu, 28 Feb 2013 13:47:50 +0000

The federal government's across-the-board spending cuts known as the sequester are set to kick in Friday, barring an agreement between Congress and the president. That means a big impact for defense spending, including for Fort Drum, an important regional economic driver.

Twenty-year-old starts second business with purchase of Watertown commercial building

Joanna Richards — Mon, 25 Feb 2013 14:10:26 +0000

Many 16-year-olds might dream about starting their own business. But it takes a special kind of teenager to turn an operation launched in his parents' basement into a six-figure profit earner in just four years. After succeeding wildly with his web development and design company, North Shore Solutions, Clarkson University junior Matthew Turcotte, now age 20, is embarking on his second venture: commercial real estate.

Area Congressmen react to the State of the Union

Catherine Loper — Wed, 13 Feb 2013 20:45:00 +0000

While there were many issues President Barack Obama talked about during last night’s State of the Union address, two in particular, the economy and gun control, were of interest of members of Congress representing upstate New York.

Gillibrand introduces bill to boost high-tech manufacturing

Ashley Hassett — Tue, 12 Feb 2013 21:41:06 +0000

Sen. Kirsten Gillibrand has introduced a bill intended to boost high-tech manufacturing. The Democrat from New York visited the Harper International company outside Buffalo to discuss the Made in America Manufacturing Act, which is her first bill to go before the new Congress.

Businesses bypassed by new I-81 connector road have mixed reactions

Joanna Richards — Fri, 08 Feb 2013 14:55:53 +0000

Until recently, the only way to drive between Route 11 and Interstate 81 near Fort Drum was a two-lane road, Route 342. As the Army base grew, local businesses flocked there to serve the increasing traffic. But the state built an $87 million bypass to ease traffic and give military vehicles a direct route to Fort Drum’s main gate. I-781, as it’s known, opened last December. Local shop owners have had mixed reactions to the new road.

Cuomo budget proposes third round of Regional Economic Development Councils

Kate O'Connell — Wed, 23 Jan 2013 21:03:09 +0000

The Regional Economic Development Councils have been a cornerstone of Governor Andrew Cuomo's plan to revitalize the state's economy. In his budget address Tuesday, Cuomo proposed a third round of state funding for the regional councils totaling $210 million.

Schumer touts return of rural hospital funding in Lewis County

Joanna Richards — Sun, 13 Jan 2013 22:04:44 +0000

Democratic Senator Charles Schumer was at Lewis County General Hospital on Friday, touting the return of funding for New York's rural hospitals. The funding had been suspended for three months by Congress, and Schumer worked with Republican Senator Charles Grassley of Iowa to reinstate the funding as part of Congress's fiscal cliff deal.

Maffei hopes for bipartisan cooperation on the economy

Durrie Lawrence — Fri, 11 Jan 2013 21:26:14 +0000

Just a week after being sworn in a second time, Syracuse area Rep. Dan Maffei appeared back in the district in East Syracuse Friday afternoon. The Democrat from DeWitt said that he hopes Congress will be able to work through their differences by focusing on the economy.

Central New York's 2013 economy may be "instant replay" of 2012

Ryan Delaney — Thu, 10 Jan 2013 16:52:03 +0000

The main economic booster engine for central New York is predicting economic growth in the region in 2013 will look a lot like last year.

Survey: upstate businesses less optimistic about economy in 2013

Ryan Delaney — Wed, 09 Jan 2013 10:48:00 +0000

Business executives from across upstate New York are less confident about the economy going into 2013, an annual survey has found.

Thrifty shoppers snag fashion finds at Watertown Urban Mission benefit boutique

Joanna Richards — Mon, 31 Dec 2012 10:40:49 +0000

Fashionistas in the Watertown area got a treat recently: a stylish – and affordable – one-day clothing boutique at the Black River Valley Club, to benefit the Watertown Urban Mission.

Information technology improves health care in the North Country

Joanna Richards — Mon, 17 Dec 2012 11:11:00 +0000

While lots of industries turned to information technology long ago to improve efficiency, accuracy and collaboration, until now, health care has lagged behind. Now, a big project has aimed to leverage IT in the health care in the state’s rural North Country.

Innovate it here & make it here, say manufacturing experts

Kate O'Connell — Thu, 06 Dec 2012 21:53:09 +0000

Closing the gap between innovation and commercialization is the key to boosting the national economy. That is one of the messages at a manufacturing summit being held in Rochester this week. Industry leaders say economic growth triggered by American ideas needs to be kept within the United States' borders.

Number of people traveling up this Thanksgiving

Ellen Abbott — Wed, 21 Nov 2012 10:05:00 +0000

The number of people traveling over the Thanksgiving holiday is up for the fourth straight year. AAA says the economy and gas prices are two of the biggest factors affecting people's travel plans.

Study finds rich get richer, the rest decline

Karen Dewitt — Mon, 19 Nov 2012 10:49:42 +0000

A union-funded think tank finds that New York has the greatest income disparity in the nation. The Fiscal Policy Institute says that trend continues, with the top one percent gaining more financial resources, while the middle class is falling behind and the numbers of the poor are growing.

Former President Clinton energizes Maffei supporters

Ellen Abbott — Mon, 22 Oct 2012 13:22:13 +0000

The troops in the Dan Maffei for Congress campaign have been energized after the visit of former President Bill Clinton in Syracuse last week. Clinton gave Maffei supporters talking points for the campaign.

SU reaches fundraising goal

Olivia Fecteau — Tue, 02 Oct 2012 13:02:53 +0000

Syracuse University announced this month that it has reached the $1 billion mark in its fundraising campaign, which was launched in 2005. University administrators had not expected that goal to be met until December 31 of this year. With the recession dogging the economy for the last four years, other universities have not been so successful in their fundraising efforts.

"Super control board" idea to help struggling municipalities still possible

Ellen Abbott — Mon, 10 Sep 2012 12:44:45 +0000

New York State continues looking for ways to help local governments on the edge of fiscal collapse. And, the idea of a "super control board" is still a possibility.

100 days in the books, startups emerge from Syracuse accelerator

Ryan Delaney — Fri, 17 Aug 2012 14:47:59 +0000

One-hundred long days full of presentations, meetings with mentors and practicing investor pitches is all done.

The first-ever StartFast Venture Accelerator concluded Thursday morning with its Demo Day.

"Saying it was all hard would be an understatement," said Timothy Beckford, a founder of PadProof, a program to help professional photographers sell their pictures more easily. "It was a tremendous undertaking. We worked like crazy."

Nine companies entered StartFast back in May, but only eight made it through. The teams were given seed money, workspace and access to dozens of mentors.

Restaurants are serving up more fresh, local ingredients

Joanna Richards — Fri, 17 Aug 2012 13:37:40 +0000

It's a busy Sunday morning at Empire Brewing Company in Syracuse. Behind the line, cooks shout brunch orders and the dining area is filling up with customers. A blues band is setting up for a set, a weekly tradition here.

Company president David Katleski sits in a big booth near the kitchen. The sounds are like any other busy restaurant, but there's something different going on here.

Hanna says STEM education just as important for boosting economy

Ryan Delaney — Thu, 09 Aug 2012 13:14:02 +0000

Fixing the tax code and overhauling regulation is important for boosting small businesses, says Rep. Richard Hanna (R-Barnevald), but he says in the long term, increasing science and math education is the key for the economy.

Gillibrand says economy requires investment to stimulate growth

Joanna Richards — Fri, 06 Jul 2012 08:07:08 +0000

Senator Kirsten Gillibrand is traveling around New York making her case for Democratic economic policies. Thursday she did so at a boat manufacturing facility in Cape Vincent.

Army worms invade Jefferson County farms

Joanna Richards — Sat, 30 Jun 2012 11:00:00 +0000

A pest has invaded farm fields throughout Jefferson County. Army worms – actually caterpillars that transform into moths – migrate up from the south every year to Northern New York. But this year a major outbreak of the worms is causing a widespread threat to crops, and big financial losses to some farmers.

Cuomo on possible hydrofracking plan

Matt Richmond — Thu, 14 Jun 2012 20:42:23 +0000

In a New York Times article published Wednesday, a plan for the first stage of hydrofracking in New York state was laid out by members of the Cuomo administration. But in a radio interview Thursday, Governor Andrew Cuomo himself was reluctant to actually call it a plan.