The Upstate Economy

7:41am

Mon January 7, 2013
The Upstate Economy

Wind energy tax credit extension means "big sigh of relief"

Sarah Harris NCPR

With several tax credits and incentives for the wind industry extended by Congress for at least another year, wind projects in upstate New York can move forward with a little more confidence.

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4:34pm

Fri January 4, 2013
The Upstate Economy

Unemployment figures worse for under-30s

The national unemployment level remained unchanged at 7.8 percent for December, according to Bureau of Labor Statistic figures released today. This is the 49th consecutive month unemployment has been above 7 percent but according to analysis from an interest group, those numbers don’t reflect the reality for young adults.

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4:25pm

Fri January 4, 2013
The Upstate Economy

Extension of wind energy production tax credit likely to trigger rush on components

Wind turbines at Marble River in Clinton, NY
Sarah Harris NCPR

The last-minute fiscal cliff deal brought good news for the wind industry. Congress agreed to extend production tax credits for wind energy producers until the end of 2013.

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3:16pm

Fri January 4, 2013
The Upstate Economy

Research credit extension could be a double-edged sword

Tuesday’s fiscal cliff package included extensions to a range of business-related tax credits, including one aimed at supporting research and development. Although Rochester, Buffalo and Syracuse have some of the most active R & D economies in the country, experts say the deal could be a double-edged sword for upstate New York.

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9:21am

Wed January 2, 2013
The Upstate Economy

North Country housing market tight as Fort Drum deployments smaller, shorter

Nearly all of Fort Drum's soldiers are at the post right now, not on deployments – and that's a first for the region since the installation's expansion in 2001. That has tightened the region's housing market, for soldiers, who have fewer choices, and for civilians, who don't receive housing assistance like soldiers do and are looking for affordable housing.  

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11:06am

Thu December 27, 2012
Taxes

Tax season may bring changes and surprises next year

401(K) 2012 Flickr

There could be some surprises for taxpayers in 2013. Many of them may find themselves with a bigger tax bill next year.

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8:25am

Wed December 26, 2012
The Upstate Economy

Private colleges' impact on upstate economy rises to $22.8 billion

Colleges and universities are becoming an even bigger part of upstate New York's economy, according to a new report by a group that represents private institutions in the state.

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4:23pm

Wed December 19, 2012
The Upstate Economy

Winners and losers: $738 million given in regional councils' round II

Empire State Development

A highly packaged awards event in Albany was the forum for allocating a range of funding to support economic development across New York state on Wednesday. A total of $738 million was distributed in the second-year of this competitive planning process driven by Gov. Andrew Cuomo.

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11:35am

Wed December 19, 2012
The Upstate Economy

Kodak patent buyers include Google, Apple and Microsoft

Kodak has sold off a chunk of its patents for $525 million.
Stewart Marshall via Flickr

Kodak has reached an agreement for the sale of their digital patent portfolio. Under the agreement, the company will receive $525 million for the imaging patents from Intellectual Ventures, a major holder of US patents, and a group of 12 licensees.

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8:32am

Tue December 18, 2012
The Upstate Economy

Schumer: 774 jobs will stay at CNY manufacturer after takeover

New York's senior senator, Charles Schumer, announced this afternoon that more than 700 jobs will remain at a manufacturer near Syracuse despite the company's recent takeover.

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8:08am

Fri December 14, 2012
Energy

Fracking regulations released for comment

A 90-day extension of the rulemaking process is widely viewed as the last step before New York makes its final decision on hydrofracking.
Matt Richmond WSKG

For those on the pro-fracking side, the newest regulations are both a good sign and a troubling one. On the one hand, they're a light at the end of the tunnel, proof that permits for hydrofracking aren’t far off. But, on the other hand, fracking supporters say that the Department of Environmental Conservation has only answered the concerns of the anti-fracking lobby.

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9:15am

Wed December 12, 2012
The Upstate Economy

Amtrak to take over new tracks in Albany area

The Northeast rail corridor will see shorter travel times and be more reliable. Through a new 25-year lease, Amtrak has taken control of a busy stretch of track leading to the capital region.

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8:04am

Fri December 7, 2012
The Upstate Economy

Defense contract that supports jobs in Syracuse cut from budget

A MEADS missile system on display at a trade show.
Credit courtesy / MEADS-AMD

Money for the final year of a missile system that supports a few hundred jobs for a defense contractor near Syracuse has been removed from Congress' defense budget. But Lockheed Martin is keeping optimistic that the money could find its way back into the budget.

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4:53pm

Thu December 6, 2012
The Upstate Economy

Innovate it here & make it here, say manufacturing experts

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.

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9:03am

Mon December 3, 2012
Startups

60 seconds on the clock, a pitch for co-founders

Participants pitch their ideas for startups with the hope of gaining teammates at Startup Weekend.
Ryan Delaney WRVO

Microphone in hand, hopeful entrepreneurs began their pitches: a way to track when the next bus is coming, a more portable sailboat, a social network for food lovers.

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8:59am

Fri November 30, 2012
The Upstate Economy

Plastic maker breaks ground on expansion in Auburn

Economic development officials and company workers held a groundbreaking ceremony for the expansion of Currier Plastics in Auburn.
Ryan Delaney WRVO

The walls on the 55,000 square foot expansion started going up a few weeks ago, but company owners and state and local economic development officials still gathered Thursday at Currier Plastics in Auburn to throw some dirt around with gleaming shovels.

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8:56am

Wed November 28, 2012
The Upstate Economy

Governor checks off sixth Regional Council tour

Gov. Andrew Cuomo surveys state funded projects in downtown Rochester.
Credit Kate O'Connell / WXXI

Using a now-familiar travel routine, Governor Andrew Cuomo made his sixth tour of New York's regions to monitor the progress of projects funded through the Regional Economic Development Councils (REDC).

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4:30pm

Tue November 27, 2012
The Upstate Economy

New York wage growth behind national average

Bureau of Economic Analysis

Personal income growth in New York state remained below the national average in 2011, a new report shows. Figures from the Bureau of Economic Analysis show growth in some areas of New York were almost 2 percentage points below the national average of 5.2 percent.

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4:12pm

Fri November 23, 2012
The Upstate Economy

Regionally developed helmet technology attracting manufacturers

An upstate company has developed a system for motorcycle helmets that could have applications for both defensive driving and sports. A system of sensors alerts riders when the helmet has damage that might not be visible, but could compromise safety.

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6:01am

Wed November 21, 2012
Startups

Syracuse working to hit critical mass to grow startup community

Eric Hinman, a co-founder of Rounded Development, listens to presentations during the company's regular Friday Sparkbook session.
Ryan Delaney WRVO

It’s a Friday afternoon at the Technology Garden, a business incubator in Syracuse. The dozen or so staff members of software design company Rounded Development are sitting around on couches, chowing on Dinosaur Barbeque take-out and chatting up ideas for new products.

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4:14pm

Mon November 19, 2012
The Upstate Economy

Growing yogurt industry leads to award for Genesee County

Muller Quaker Dairy is one of the tenants of the Agri Business Park
Some rights reserved by theimpulsivebuy

The success of the burgeoning yogurt industry has helped the Genesee County Economic Development Center (GCEDC) be named the Industrial Development Agency of the year in upstate New York, for their work in developing the Genesee Valley Agri-Business Park in Batavia.

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4:55pm

Thu November 15, 2012
The Upstate Economy

Reaching out to 'green' women in the sustainable economy

Upstate communities are reaching out to women working in the sustainable economy. This week, community group Greenworks Buffalo Niagara hosted the first in a series of events for  "green" women, and many are still bumping their heads against the glass ceiling.

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9:14am

Thu November 15, 2012
The Upstate Economy

Conference looks for ways to grow "clean economy"

Hundreds of people from around the country are in Albany this week to talk about ways to grow and improve the nation's so-called "clean economy."

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4:51pm

Mon November 12, 2012
The Upstate Economy

Byrne Dairy to join growing NY yogurt industry

Anthony Albright Flickr

The yogurt industry in upstate New York is getting attention as a bright spot in the region's lackluster economy. Now, Byrne Dairy is will be joining other companies in this growing agribusiness.

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11:00am

Mon November 12, 2012
The Upstate Economy

Robotics industry still in its infancy

You may have seen videos of robots interacting humans in laboratories and wondered when we'll see those robots on store shelves. One industry expert says that moment is closer than you think.

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8:13am

Fri November 9, 2012
The Upstate Economy

Startup Weekend coming to Binghamton

Cris Olsen is a Binghamton-based entrepreneur and a mentor at Startup Weekend.
Matt Richmond WSKG

Chris Olsen is a budding entrepreneur. He runs an online marketing company in Binghamton called RS Webworks. It's the third company he's founded, and he's just 23-years-old.

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9:16am

Thu November 8, 2012
The Upstate Economy

RIT to invest in local start-up businesses

The Rochester Institute of Technology has launched a venture fund to help boost economic development in the region. Businesses with ties to the university will be eligible for funding through the fund.

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10:09am

Sat November 3, 2012
The Upstate Economy

How upstate New York could build strong startup communities

The scene at a Startup Weekend in Pheonix, Ariz.
curtm95 via Flickr

It's not hard to think of the Silicon Valley, or maybe Boston and more recently New York City, when pondering the best place to be as a young entrepreneur. But cities all over the country are trying to become just as popular. Some are doing better than others.

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4:02pm

Wed October 24, 2012
The Upstate Economy

IBM announces winners of Watson computer competition

Cornell University and IBM have announced the winner of a competition involving the Watson computer, made famous by a recent win on the TV show Jeopardy. Students involved in the 48-hour competition put forward ideas for new ways to use the computer.

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9:20am

Tue October 23, 2012
The Upstate Economy

New Rochester entrepreneurship center to open next fall

The Rochester Savings Bank building dates from 1927 and was placed on the National Register of Historic Places in 1972
dennieorson Creative Commons License

Senator Charles Schumer says a new center to open in Rochester will be a model for cities all over the state and the nation. He made the statement at the launch of the new center for urban entrepreneurship in the city.

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