Archive: Business & Technology

Tompkins Financial has promoted Abby Peterson to Vice President, Marketing Communications Manager. Peterson joined the company in 2016, and brings over 7 years of Marketing experience to the organization. She will continue to be based in Ithaca, New York, at the company's downtown headquarters.

Peterson is responsible for overseeing the marketing communications efforts for Tompkins Financial's four community banks; Tompkins Trust Company in Central NY, Tompkins Bank of Castile in Western NY, Tompkins Mahopac Bank in the Hudson Valley, and Tompkins VIST Bank in Southeastern PA.

Moravia, NY - Wine & Blooms announced that instructor Kalee Doeing has been promoted to Creative Director. Her role will foster the creation of unique, fun and creative gardening related experiences as well as support the growing team of instructors that have joined the company this year.

Doeing teamed up with Wine & Blooms' founder, Leigh McGonagle in 2016 as a part time gardener in sister company, Poplar Point Studio. In the past year Doeing has led over 40 garden related workshops in the Finger Lakes region, and has been responsible for a range of tasks from designing projects, ordering supplies, managing ticket sales as well as being the lead instructor for the business.

On April 17, 2019, non-managerial workers at Ithaca Coffee Company (ICC) informed the ICC owner Julie Crowley (who also owns Triphammer Wine and Spirits), of their intentions to form a union. Workers reminded the owner of their legal obligation to abide by the National Labor Relations Act (NLRA) and enforced by the National Labor Relations Board. Additionally, workers requested that management observe voluntary Non-Interference Election Principles.

ICCs management immediately resorted to threatening workers with retaliation, including the threat to close store locations if employees voted to join a union. Pervasive intimidation discouraging employees from discussing terms and conditions of employment with pro-union workers has created an atmosphere of chilling fear in the workplace.

Tompkins Financial Corporation welcomed Jennifer R. Tegan to the Tompkins Financial Corporation Board of Directors this week. Tegan was officially elected at the Annual Meeting of Shareholders held on Tuesday, May 7, 2019. Tegan will continue as a director of Tompkins Financial's affiliate, Tompkins Trust Company, where she has served since 2016.

Since starting with Cayuga Venture Fund in 2002, Tegan has been working with, supporting and financing entrepreneurs in technology-based companies in the areas of communications equipment, social networking, semi-conductors, materials sciences, consumer products, and SAAS. As part of her role with Cayuga Venture Fund, she also serves on the corporate boards of GiveGab (Ithaca, NY), Venuebook (New York, NY), POM (Newark, NJ) and True Gault (New York, NY). In 2018, Tegan joined the board of directors of the National Venture Capital Association, the preeminent trade association advocating for public policy that supports the American entrepreneurial ecosystem. Tegan is past President and current Executive Committee Member of the Upstate Capital Association of New York Board (formerly, UVANY) a membership trade organization whose mission is to increase access to capital for entrepreneurs and companies in Upstate NY.

Governor Andrew M. Cuomo announced Wednesday the FY 2020 Enacted Budget includes the nation's first Recovery Tax Credit program, which provides tax incentives for certified employers who hire people in recovery from substance use disorders in either full- or part-time positions. Beginning in the year 2020, up to $2 million will be allocated for this program annually, with employers receiving a maximum credit of $2,000 for each eligible person they hire. The New York State Office of Alcoholism and Substance Abuse Services will administer the program in conjunction with the Department of Taxation and Finance.

"As the opioid epidemic continues to impact families and communities across the state, we remain committed to ensuring individuals who are in recovery have the support they need to lead healthy lives," Cuomo said. "This tax incentive will help remove the stigma surrounding addiction and ensure those battling this disease can create a stable and sustainable path to recovery."

Governor Andrew M. Cuomo called on the New York State Department of Financial Services and the New York State Department of Taxation and Finance Wednesday to investigate TurboTax, H&R Block and other major tax return preparers following recent reports that these companies allegedly used Google advertisement and website features to deceptively hide additional tax filing options from low-income individuals who are eligible to file their taxes for free.

"The allegations against these major tax return preparers are disturbing, and New York will not stand idle as the public's interest is undermined in order to pad the profits of wealthy corporations," Cuomo said. "I am calling on the Department of Financial Services and the Department of Taxation and Finance to investigate these claims to help ensure New Yorkers are protected. We have zero tolerance for these deceptive practices and those responsible will be held accountable for these egregious actions."

On April 25th, TCAD hosted its 2019 Annual Report to the Community event. TCAD's Board of Directors and staff welcomed a full house of community members to the morning event at Coltivare. TCAD's President, Heather McDaniel, shared with attendees a recap of the many successful projects TCAD has been involved with in the past five years and highlighted 2018's accomplishments of 17 new projects, 279 retained jobs, 54 projected new jobs, and $98.7M in new investment.

McDaniel also shared TCAD's projections for the next five years including $33 million in new payroll, $500 million in new capital investment, 3,450 retained jobs, and 550 new jobs.

Governor Andrew M. Cuomo announced Tuesday that New Yorkers are buying electric vehicles at a record pace, with sales increasing by 63 percent in 2018. The number of electric vehicles on the road jumped to 36,854 in 2018, up from 24,551 in 2017. A new report also released today provides a new cost-benefit analysis showing increased deployment of electric vehicles in New York State could provide up to $5.1 billion in societal benefits, including monetary savings for both electric vehicle drivers and utility customers. Increasing the use of electric vehicles supports Cuomo's Green New Deal, a nation-leading clean energy and jobs agenda that puts New York on a path to carbon neutrality and achieving the state's goal to reduce greenhouse gas emissions 40 percent by 2030.

"As we continue to expand our charging infrastructure across the state, we are making it easier and more affordable than ever to drive an electric vehicle in New York," Cuomo said. "The spike in sales of electric vehicles in 2018 underscores not only the benefits of these vehicles but also the positive impact our Charge NY initiatives are having on our ability to move to greener power."

Tax Receipts For State Fiscal Year 2018-19 Declined $3.7 Billion, Or 4.7 Percent, From The Previous Year To $75.6 Billion, According To The Year-End State Cash Report Released Today By State Comptroller Thomas P. Dinapoli. The State Ended Its Fiscal Year On March 31 With A General Fund Balance Of $7.2 Billion, Higher Than Recent Projections But A Decline Of $2.2 Billion From The Prior Fiscal Year.  For The Month Of March, Tax Receipts Were $811.7 Million Above The Latest Division Of The Budget (Dob) Projections, Released In February 2019.

"After Months Of Concern Over Lower-Than-Expected Tax Collections, The State Ended The Fiscal Year On A Positive Note," Dinapoli Said. "The Sharp Revenue Declines In December And January, However, Remind Us To Take Nothing For Granted. With Expectations Of A Slowing Economy And Ongoing Concerns Regarding Federal Fiscal Policies, A Strong Commitment To Building Robust Reserves In Preparation For The Next Economic Slump Is Essential."

State Comptroller Thomas P. DiNapoli released the report from the Decarbonization Advisory Panel Tuesday. The report examines the financial impacts of climate change on the New York State Common Retirement Fund (Fund) and recommends ways for the Fund to build on its climate change work to protect and add value for the public workers that rely on it for retirement.

The six-member Decarbonization Advisory Panel, the first of its kind for a public pension fund, was formed by Gov. Andrew Cuomo and DiNapoli in 2018 and members were appointed in March 2018. It is comprised of investment, financial, environmental, energy and legal experts that served voluntarily. The panel was charged with offering strategies for the Comptroller's consideration on how the Fund might identify, assess and manage the investment risks and opportunities of climate change. In the report released today, the panel offered a series of recommendations to further decarbonize the Fund and capitalize on a low-carbon economy.

Congressman Tom Reed was in Lansing Thursday to visit BorgWarner to meet with employees, tour the facility, and discuss ways Congress can support energy innovation.

"We must give next-generation energy sources an even playing field and allow them to mature and inject more clean and reliable power into the energy grid," Reed said. "By encouraging the U.S. energy market to be technology-diverse, innovative and good for consumers we can ensure America regains the crown in global energy innovation. It's great to see a company right here in our district – BorgWarner – making investments in propulsion systems for combustion, hybrid, and electric vehicles."

Governor Andrew M. Cuomo announced yesterday that Netflix, the world's leading internet entertainment service, will expand its presence in New York with a production hub in New York City, bringing hundreds of jobs and up to $100 million in investments to the city. The production hub will include an expanded office in Manhattan that will directly create 127 high-paying executive content, marketing and production development jobs over the next five years, and six sound stages in Brooklyn with the capacity to hold thousands of production crew jobs within five years. This announcement furthers Governor Cuomo's commitment to supporting New York's tech and entertainment sectors to create strong jobs across the state.

"Netflix is innovative, creative and bold - just like New Yorkers - and the expansion of this cutting-edge company in New York once again demonstrates the Empire State is open for business," Governor Cuomo said. "We're proud Netflix chose New York to grow its business, and we look forward to the jobs, economic activity and world-class productions this project will bring."