Archive: Business & Technology

A new report from the New York State Comptroller's Office shows the Tompkins County Industrial Development Agency (TCIDA) performed better than the State average when it comes to using tax breaks to create or retain jobs.

On average, the IDAs gave out $3,424 in tax breaks per job created or retained. In 2016, the TCIDA created or retained 5,457 jobs, giving out just $1,544 in tax breaks per job.

Governor Andrew M. Cuomo and Attorney General Barbara D. Underwood announced a lawsuit Tuesday against Purdue Pharma L.P., Purdue Pharma Inc., and Pursue Frederick Company, Inc. ("Purdue"), alleging a decades-long and continuing pattern of persistent deceptive and illegal conduct, whereby Purdue's misled prescribers and patients about the risks of its opioids, including OxyContin, intentionally understating the risks and overstating the benefits of these powerful and dangerous drugs.

Specifically, the complaint alleges that Purdue persistently made -- directly and through third party groups -- numerous misrepresentations about its products, including concealing the link between long-term use of opioids and abuse and addiction, masking the signs of addiction by referring to them as "pseudoaddiction," falsely claiming that withdrawal from its products can be easily managed, overstating the risks of alternative pain relief therapies as compared to opioids, and misrepresenting the extent to which opioids improve body function. These representations were part of Purdue's concerted effort to increase sales of its opioid products and directly affected prescribing, public opinion, and consumption of those products.

I use cable for Internet access and nothing else.  Under Time Warner I paid $65 per month for the 'Extreme Plan' that yielded up to 35mbps (megabits per second) download speed and 6mbps upload speed.  I was paying a special promotional price for the because I asked for one.  At the end of a year I would have to pay $75 or downgrade to Turbo, at 15mbps download and 1mbps upload speed.  When Spectrum took over from Time Warner the old plans were still imposed on old customers.  But by the time I went to ask for a new promotional price a year later, things had changed.  I was told Spectrum offered up to 100mbps download speed and 10mbps upload.  It would cost $60 per month, and that was the regular price, not a promotional price.  Well that is now close to $65, but still $10 less than what I would have had to pay to keep the so-called 'Extreme' plan.

Yay!

Now that 'up to' means you will not necessarily get the whole 100 all the time.  For example, when I conducted a speed test a couple of minutes ago I only got 76.9mbps download speed.  My upload speed was 11.7, really good considering I had only one for several years when I had Time Warner's Standard Plan (3mbps download/1mbps upload -- and Netflix worked fine, thank you very much).  But how much speed do you really need?

Governor Andrew M. Cuomo announced yesterday that he will propose legislation to further decouple New York State's tax code from the federal code if President Trump moves forward with a plan for a $100 billion capital gains tax cut, ensuring New York does not follow suit in this reckless giveaway to the rich. The Governor also called on Congress to immediately block any attempt by President Trump to unilaterally cut taxes for the nation's wealthiest 1 percent in violation of the Constitution.

"After running on a scam platform of fighting for the middle-class, President Trump is again firing a missile at the heart of our working and middle-class New Yorkers," Cuomo said. "I call on Congress to block any illegal attempt by President Trump to enrich his friends at the expense of the American people. If the President moves forward with his $100 billion tax cut for the rich, I will propose legislation to decouple our state's tax code and ensure New York remains true to its values as a progressive beacon for the world."

Dearborn, Michigan - Ford celebrated the production of its 10 millionth Mustang yesterday. The company says the Mustang is America's best-selling sports car of the last 50 years and the world's best-selling sports car three years straight.

The 10 millionth Ford Mustang is a high-tech, 460 horsepower 2019 Wimbledon White GT V8 six-speed manual convertible equipped with the latest driver assist technology and built at Ford's Flat Rock Assembly Plant in Michigan. The first serialized Mustang (VIN 001) produced in 1964 was the same color and model with a three-speed manual transmission and 164 horsepower V8.

"Mustang is the heart and soul of this company and a favorite around the world," said Jim Farley, president of global markets, Ford Motor Company. "I get the same thrill seeing a Mustang roll down a street in Detroit, London or Beijing that I felt when I bought my first car – a 1966 Mustang coupe that I drove across the country as a teenager. Mustang is a smile-maker in any language."

Local sales tax collections across New York grew 6 percent in the first six months of 2018, according to a report released today by State Comptroller Thomas P. DiNapoli. Through June, local collections totaled $8.5 billion compared to $8 billion during the same period last year.

This is the highest half-year increase in the state since 2010 and the fourth consecutive period of strengthening collections. By comparison, growth during the first half of 2017 was 3.3 percent and during the first six months of 2016 it was 1.7 percent.

The New York State Energy Research and Development Authority (NYSERDA) announced Monday the completion of Skyven Technologies' first shipment of Intelligent Mirror Array, one of the world's first solar solutions for industrial steam, which was manufactured in the Southern Tier. Skyven was the $1 million grand prize winner of last year's 76West Clean Energy Competition, launched by Governor Andrew M. Cuomo in 2016. 76West is one of the largest competitions in the country that focuses on supporting and growing clean energy businesses and economic development. The competition complements "Southern Tier Soaring," the region's comprehensive strategy to generate robust economic growth and community development.

"The 76West competition is supporting clean energy and helping to grow the technology industry in New York," said Lieutenant Governor Kathy Hochul. "Skyven Technologies' shipment of one of the world's first solar solutions for industrial steam is a testament of the advanced manufacturing in the Southern Tier region that is generating economic growth and complementing the Southern Tier Soaring strategy."

In a perfect world all workers would earn a minimum of the cost of living, right?  And all employers would be able to afford to pay that amount or more.  But employers worry that higher wages makes their businesses less competitive, and not all small business owners can afford employees, even at the minimum wage.  Is a living wage feasible?  One way to find out is to ask people across the whole spectrum of workers and employers.  That is exactly what the Tompkins County Minimum Wage Working Group is doing in a series of information gathering sessions.

A session Saturday at the Dryden Community Café asked workers what they think about the issue.  In a session moderated by Tompkins County Workers' Center Coordinator Pete Meyers, workers were asked five questions about the positive and negative effects of their households earning a living wage would bring, how it would impact family planning for the future; how it would impact the quality of their work and the byproduct of that work; and other impacts if Tompkins County were to require a local minimum wage that would, presumably, be higher than that imposed by New York State.

They say that getting a new job, making a major business readjustment with new responsibilities, moving, buying a home, and getting married are among the top major life changes that cause stress.  According to the Holmes-Rahe Life Stress Inventory, those four alone add up to a score of 194, which indicates a '50% chance of a major health breakdown in the next 2 years'.  But Kyle Sharp seems anything but stressed.  In fact he seems calmly delighted that he and his wife Jennifer, whom he married only a few weeks ago, moved to Lansing so he could become the new funeral director and owner of Lansing Funeral Home.  They closed on the sale May 31.

"We moved in that day," he says. "We're living at the funeral home so we're close to everything.  As soon as we closed we came right here and went to work."

The Tompkins County Legislature has awarded Elmira Structures, Inc. the contract to construct a food scraps transfer building at the Recycling and Solid Waste Center (RSWC) in Ithaca.

The County's Department of Recycling and Materials Management was awarded a $355,000 New York Department of Environmental Conservation Climate Smart Communities grant to help fund the project to transfer source-separated commercial food scraps for composting.

Governor Andrew M. Cuomo announced further action to support the development of medical marijuana and industrial hemp businesses in New York, directing the Department of Financial Services to provide guidance to support the safe and sound provision of banking services for these businesses. The DFS guidance issued encourages New York State chartered banks and credit unions to consider establishing banking relationships with medical marijuana-related businesses that are operating in New York in full compliance with all applicable New York State laws and regulations, including the New York Compassionate Care Act, and the applicable regulations and requirements of the New York State Department of Health. The guidance also encourages New York State-chartered banks and credit unions to support the development of industrial hemp businesses statewide, continuing this significant economic development goal of New York State.

"The ability to establish a banking relationship is a challenge that legal industries face unlike no other," Governor Cuomo said. "As the federal government continues to sow discord surrounding the medical marijuana and industrial hemp businesses, New York has made significant progress in creating a supportive economic development and regulatory landscape for these companies."

Lansing McDonald's owners Courtney and Mike Feehan announced Tuesday that after a complete remodel of the Triphammer Road restaurant they will be adding 20 new jobs.  The restaurant celebrated a grand re-opening Tuesday afternoon, along with local dignitaries, customers, and organizations.

"Today I'm proud to cut the ribbon on our newly rebuilt McDonald's restaurant on North Triphammer Road," said Courtney Feehan. "We went through a major remodel here, bringing it down to the studs, redoing piping, roof, doors, and a new exterior.  And we remained open during the entire process."