Archive: Business & Technology

Dr. Robert Nye, President of Finger Lakes Community College and former State Senator Mike Nozzolio, on behalf of LOCATE Finger Lakes, congratulate student entrepreneurs on the successful completion of the Young Entrepreneurs Academy program at FLCC. Student entrepreneurs include: Lehi Weed, Megan Marley, Jack Dunfey, Kendall Davis, Michael Zellers, Emily Johnson, Garett Waltman and Micah Krop.Creative ideas were plentiful, and the competition was intense as student entrepreneurs from all across the Finger Lakes region pitched their business ideas at the recent Investor Panel competition at the Finger Lakes Community College.

Sponsored by Lyons National Bank (LNB), LOCATE Finger Lakes, the Finger Lakes Community College, and other local businesses, the Investor Panel provided the opportunity for students to invent their own business and develop a business plan. The young entrepreneurs were judged by the Investor Panel on the feasibility of their business concepts and thoroughness of their business plans.

TCAD's President, Heather McDaniel, has been appointed to the Southern Tier Regional Economic Development Council (REDC), by Lieutenant Governor Kathy Hochul. The Council promotes bottom-up, community-driven economic development in the region, helping to create economic growth and new job opportunities.

v15i13

Rochester, NY - Insero & Co. CPAs has been named one of Rochester's 2019 Top Workplaces by The Democrat and Chronicle. The list is based solely on employee feedback gathered through a third-party survey administered by research partner Energage, LLC, a leading provider of technology-based employee engagement tools. The anonymous survey measures several aspects of workplace culture, including alignment, execution and connection, just to name a few.

"Top Workplaces is more than just recognition," said Doug Claffey, CEO of Energage. "Our research shows organizations that earn the award attract better talent, experience lower turnover, and are better equipped to deliver bottom-line results. Their leaders prioritize and carefully craft a healthy workplace culture that supports employee engagement."

Securities Industry Profits In 2018 Were 11 Percent Higher Than The Previous Year, But The Average Bonus Paid To Industry Employees In New York City Declined By Almost 17 Percent To $153,700, According To An Estimate Released Today By New York State Comptroller Thomas P. Dinapoli.

"Despite A Sharp Decline In The Financial Markets In The Fourth Quarter Of 2018, The Securities Industry Still Had A Good Year With Increased Profits And Employment," Dinapoli Said. "Profits Grew In 2018 And Have Nearly Doubled Since 2015. Bonuses Declined In 2018, But The Average Bonus Was Still Double The Average Annual Salary In The Rest Of The City's Workforce. It's Too Soon To Say How The Industry Will Fare In 2019, But Trade Tensions, A Slowing Global Economy And Greater Economic Uncertainty Are All Factors That Could Affect Results."

Tracey Austin suffered from severe and frequent migraine headaches since she was seven years old.  She consulted doctors, and tried just about everything, but nothing worked.  A conversation with a friend led to talk about IDLife, a company that personalizes dietary supplements based on an extensive questionnaire.  The friend was selling the supplements and told Austin she should see if they could help.

"We were talking about some issues that we were both having," Austin says. "Mine was severe migraines that I was having since I was about seven years old.  I had tried different medications. I tried acupuncture, chiropractic, massage... you name it. It had come to a point where I didn't know what else to do.  I believe in vitamins and I think that everybody needs certain nutrition, so I decided to give it a try.  It has a 30 day money back guarantee, so I figured, why not?"

Employment among New York's small businesses has increased slightly faster than the national pace, according to a report released today by State Comptroller Thomas P. DiNapoli. The report, based on the most recent data available from the U.S. Census Bureau, examined the five-year trend from 2011 through 2016.

During that time frame, small business employment rose by 9.2 percent in New York while increasing 8.9 percent across the country. These companies provided more than 4.1 million jobs in the state in 2016, just over half of all private sector jobs in New York. Small businesses provided more than $212 billion in payroll, nearly 40 percent of the total private sector payroll in the state.

As April 15th looms, New Yorkers are thinking about paying taxes.  The prospect is not good.  A new Wallethub analysis released Tuesday finds that New York has the 4th highest tax rates of all the United States.  And in a survey also released Tuesday Americans said they are not happy about taxes.  Fewer than 4 in 10 people said they are happy with President Trump’s tax reforms. 70% said they think they benefit the rich more than the middle class. 89% of people think the government currently does not spend their tax dollars wisely. 36% of people said they would move to a different country for a tax-free future.  24% said they would get an 'IRS' tattoo, 16% said they would stop talking for 6 months, and 15% said they would take a vow of celibacy if they could have a tax-free future.

News for New York taxpayers is especially grim.  The state has the highest income tax rank, the 8th highest real estate tax, 16th highest sales and excise taxes, and 3rd highest overall effective state & local tax rate.  New York has the 5th highest gas taxes, and is tied with Connecticut for having the highest cigarette taxes.  The only good news the analysis reports is that there is no vehicle property tax in New York, which ties the state with several other states in first place.

Streeter Associates, of Elmira, NY, has been awarded the construction contract for the second phase of the Ithaca Tompkins Regional Airport terminal expansion project. Tompkins County Legislators, by unanimous vote, awarded Streeter the contract for its submitted bid of $18,276.000. (Legislator Deborah Dawson was excused.) Phase 2 of the project involves elements including renovation and expansion of the passenger screening checkpoint of the departure lounge and the terminal's gate area.

The award is made contingent upon the anticipated award of a $10 million Federal Aviation Administration Airport Improvement Program grant, to supplement the $14.4 million awarded to the Airport last year under the Governor's Upstate Airport Revitalization Initiative.

Governor Andrew M. Cuomo launched the $30 million "Buildings of Excellence" Competition Wednesday to advance the design, construction and operation of low- or zero-carbon emitting buildings that also provide comfortable, healthy and affordable living and working spaces. New Yorkers pay about $35 billion annually for electricity and heating fuels, and buildings account for 59 percent of statewide greenhouse gas emissions. The competition is part of Cuomo's goal to transform New York's entire building stock as part of his nation-leading Green New Deal, a clean energy and jobs agenda that puts New York State on a path to a carbon-free economy. It also supports the State's goal of reducing greenhouse gas emissions to 40 percent below 1990 levels by 2030.

"The time for addressing climate change is now and today we are doubling down on our commitment to lead the way with a revolutionary path toward carbon-free buildings," Cuomo said. "The development of low- to zero-carbon buildings will create healthier living spaces and communities for all New Yorkers, while driving down harmful emissions from one of our highest contributing sectors - our building stock - and pushing us forward on our path to carbon neutrality."

Mortgage foreclosure filings across New York dropped 46 percent between 2013 and 2018, from 46,696 to 25,334, according to a report issued today by New York State Comptroller Thomas P. DiNapoli.

"The decline in foreclosures means fewer people are losing their homes and our municipalities are seeing some relief from the collateral damage associated with shrinking tax bases and neglected properties," said DiNapoli. "While this is an improvement, the foreclosure crisis is far from over. To extend the progress we've made, New York must continue to support the programs and reforms that have helped homeowners avoid foreclosure and communities reduce blight caused by zombie properties."

The $175.1 billion State Fiscal Year (SFY) 2019-20 Executive Budget advances several measures to reduce the financial risks posed to New York by unpredictable tax revenues and federal funding, according to a report released Wednesday by State Comptroller Thomas P. DiNapoli. Still, larger-than-expected declines in current fiscal year tax collections leave uncertainty that may not be fully clarified before the April 1 start of the new fiscal year.

State tax collections for the month of January were $2.3 billion below the Division of Budget's (DOB) initial Executive Budget projections. DOB has reduced estimates of tax receipts for the current and next fiscal years by $5.7 billion since release of the November update of the Financial Plan.

Albany, NY - Senator Pam Helming today announced that she and her Senate Republican colleagues have unveiled their Re-Open New York for Business plan to create jobs and support business, particularly in Upstate New York and the Finger Lakes region. This comprehensive package includes a set of common-sense solutions to help fix the ailing state business climate so that more hardworking families can live, work, and thrive in New York.

"As the Ranking Member of the Senate Committee on Commerce, Economic Development and Small Business, I wholeheartedly support our Re-Open New York For Business plan and look forward to working with my colleagues to advance this plan in the best interests of New York's business job creators and employees. Whether I am visiting a factory or a farm, I hear the same thing from our job creators – New York is pushing them out, or they could save thousands by moving to any other state. We must cut spending and red tape for our job-creating small businesses and farms and invest in workforce development to unleash our state's full potential. If we are going to restore New York to its rightful status as the Empire State, we need to partner with the private sector and give them the opportunity to succeed and create jobs, especially in rural and struggling parts of upstate New York. This package would help the communities I represent and the entire state. I urge my colleagues on the other side of the aisle to join Senate Republicans in helping job-creating businesses succeed in New York," Helming said.