economy

Ryan Delaney / WRVO

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.

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.

U.S. Army

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.  

Joanna Richards

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

Feb 13, 2013
Office of Cong. Dan Maffei

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.

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.

Joanna Richards

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.

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.

Joanna Richards

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

Jan 11, 2013

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.

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.

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

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. 

Joanna Richards

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.  

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.

pixelnaiad / Flickr

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.

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.

Ellen Abbott / WRVO

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

Oct 2, 2012

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.

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.

Ryan Delaney / WRVO

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

Aug 17, 2012
Joanna Richards / WRVO

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.

Ryan Delaney / WRVO

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.

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

Jun 30, 2012

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. 

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.

The North Country Regional Economic Development Council is preparing for an influx of funding applications this July. Regional councils are part of Governor Andrew Cuomo's plan to distribute economic development aid throughout the state using a community-based, bottom-up approach to building New York's economy. A public forum was held by the council in Watertown last night.

Bill Owens reaches out to Canadian companies

May 25, 2012

Representative Bill Owens is working to increase economic ties between the North Country and Canadian businesses.

The Democrat held a series of meetings in Canada this week in an effort to entice more Canadian companies to look to Northern New York for expansion.

Slow and steady: New York state job levels rise

May 25, 2012
Michael Lokner / Flickr

New York state is on the brink of returning to pre-recession job levels, according to a new analysis from IHS Global Insight.

Everyone in the north country recognizes that Fort Drum plays a huge role in the region's economy. Just how big is the subject of a report the post puts out every year, called the annual economic impact statement. This year's report says Fort Drum contributed over $1.6 billion dollars in spending in the 2011 fiscal year.

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