Lockheed Martin to pay Q3 dividend of $3.15 per share in late September

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Lockheed Martin Corp. (NYSE: LMT) announced that its board of directors has authorized a third-quarter, 2024 dividend of $3.15 a share. The dividend is payable on Sept. 27, to holders of record as of the close of business on Sept. 3, according to a June 27 company news release. At Lockheed’s current stock price, the […]

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

New state law allows cash payments at state parks

Energy, Environment & Sustainability, Law, Accounting & Taxes, Sports, Entertainment & Tourism, Subscriber Only

Another extends exemption for boating-safety certificate ALBANY — Visitors to sites operated by the New York State Office of Parks, Recreation and Historic Preservation can use cash to pay for admission. A new state law prohibits the mandated use of credit cards

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Downtown Committee annual meeting highlights activity

Subscriber Only

Also, honors difference makers SYRACUSE — A new childcare center, a doggy daycare, and more than 120 new housing units are among 13 projects totaling $129 million that are “in the development pipeline” to meet the changing needs of downtown Syracuse. An additional 400 residential units are also planned

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

Also, honors difference makers

SYRACUSE — A new childcare center, a doggy daycare, and more than 120 new housing units are among 13 projects totaling $129 million that are “in the development pipeline” to meet the changing needs of downtown Syracuse.

An additional 400 residential units are also planned or underway, positioning downtown’s population to exceed 5,000 residents by the end of 2025.

That’s according to the State of Downtown report that Merike Treier, executive director of the Downtown Committee of Syracuse Inc., delivered during the organization’s annual meeting held on June 20.

The report highlighted the growth that downtown Syracuse has had in the past year and offered a preview of upcoming projects that the community can expect in the next year, per the Downtown Committee’s announcement.

About 450 property owners, businesses, residents, and other stakeholders attended the annual meeting held in the ballroom of the Nicholas J. Pirro Convention Center at Oncenter in downtown Syracuse.

“In the ever-evolving landscape of Downtown Syracuse, the past year has been marked by an impressive influx of investments that have not only propelled the area forward, but also symbolize the continued dedication to the heart of our city,” Treier said. “This momentum in development speaks volumes about the collective vision and determination to create a vibrant and thriving city center.”

Downtown Awards of Excellence

The annual meeting also included the announcements of the Downtown Awards of Excellence to recognize the recipients’ “commitment to revitalization efforts throughout Downtown Syracuse:”

Both Treier and Tony Fiorito, chairman of the Downtown Committee’s board of directors, presented the awards.

The recipients included Cjala Surratt, who was presented with the Urban Innovation Award. Surratt is the owner of Black Citizens Brigade Vintage Co., a clothing store at 140 Bank Alley in Syracuse.

The store “has not only curated a space for Black history to shine through fashion, literature and art, but has also sparked a movement rejuvenating underutilized urban areas by activating Bank Alley,” the Downtown Committee said.

It went on to say, “Black Citizens Brigade is not just a retail space; it’s a hub for community engagement and cultural enrichment and embodies a legacy of Black entrepreneurship in the city.”

The awards program also recognized Ed Riley with the Heart of Downtown Award. Riley is the founding partner and managing member of Hotel Syracuse Restoration, LLC and Brine Wells Development, LLC.

His efforts led to the restoration of the iconic Hotel Syracuse, which reopened as the Marriott Syracuse Downtown in 2016.

“Ed’s dedication and passion for the preservation of our community’s rich history is truly inspiring. As we celebrate the centennial anniversary of Hotel Syracuse this August, we are reminded of Ed’s invaluable contributions to our community, and we look forward to celebrating his future endeavors,” the Downtown Committee said.

In addition, the Downtown Committee also recognized Famous Artists, also known as Broadway in Syracuse, with the Perfect Partner Award.

Throughout its theatrical season, Famous Artists regularly partners with downtown businesses in creating special themed menus and limited-edition specials to promote visiting Broadway shows, the Downtown Committee said.

“This creates a one-of-a-kind experience for theatre-goers, extending their Downtown Syracuse visit and highlighting Downtown as a premier entertainment destination,” the nonprofit added.

Each of the award winners are highlighted in a video produced by Daylight Blue Media. Links to the videos are provided at the Downtown Committee’s YouTube page (https://www.youtube.com/@DowntownSyracuse/videos).

Community Memorial Hospital starts phase 2 of $31.5 million expansion project

Health Care, Construction, Design & Real Estate, Mohawk Valley, Subscriber Only

HAMILTON — Community Memorial Hospital has entered the second phase of its $31.5 million project to expand and renovate patient care spaces. The hospital had experienced delays created by increases in construction costs until the U.S. Department of Agriculture (USDA) recently guaranteed the loan necessary to complete construction. “On behalf of all of us at

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

“On behalf of all of us at Community Memorial, I would like to extend our most sincere appreciation to Sen. [Charles] Schumer for leading our congressional delegation in advocating to make this nearly $20 million USDA loan guarantee possible,” Community Memorial President/CEO Jeff Coakley said in a news release. “We are incredibly excited to restart our facility renewal project, especially after increased labor and supply costs during the pandemic significantly delayed the financial approvals for phase II. Thanks to Sen. Schumer and our federal representatives, Community Memorial can now make good on our promise to expand and revitalize our facility and equipment, safeguarding patient care and over 400 jobs for many years to come.”

The project is the largest renovation of the facility in more than 70 years. The first phase, completed in December 2021, updated the inpatient wing and emergency department.

This second phase focuses on the center of the hospital with renovations to the radiology department, laboratory, rehabilitation center, and main entrance with updated spaces and equipment.

The new radiology department will be centralized inside the hospital, mobilizing all modalities to meet the needs of patients and allow staff to respond to urgent patient needs. The new equipment will include a CT scanner, MRI machine, and digital mammography.

The laboratory department will gain expanded waiting space for patients with updated draw rooms to provide an improved patient experience. There will also be ADA-compliant draw spaces.

Community Memorial will also expand the Center for Rehabilitation to offer a new and modern location for patient care. The space includes physical, occupational, and speech therapies.

The new main entrance for patients, families, and visitors will feature a larger waiting space with modern and comfortable amenities and a cohesive exterior to the new emergency department entrance. There will also be enhanced patient safeguards.

“This nearly $20 million federal investment is a major shot in the arm for Madison County and Community Memorial Hospital,” Schumer said. “This will help kickstart the next phase of the hospital’s transformation, expanding to help get our rural communities the health care they need with new, top-of-the-line equipment and facilities. With this federal support, Community Memorial will continue to build on their recent expansion of services and add new state-of-the-art equipment, positioning the hospital to meet the changing needs of rural patients.”

Community Memorial and construction-management group, The Hayner Hoyt Corp., anticipate completion of the project at the end of 2025. While construction is in progress, the hospital will work to ensure patient care is not reduced or impacted.

Northern New York Community Foundation names new board chair

Nonprofits, North Country, Subscriber Only

WATERTOWN — Lewis County resident Cheryl R. Steckly was recently named chair of the Northern New York (NNY) Community Foundation board of directors, the nonprofit announced. Steckly retired in 2019 as superintendent of Lowville Academy & Central Schools after more than 35 years working in public education. She was first appointed to the Community Foundation

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

VIEWPOINT: District Court Enjoins FTC Non-Compete Ban, But With a Catch

Business Mentors, Law, Accounting & Taxes, Subscriber Only

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

On July 3, 2024, the United States District Court for the Northern District of Texas (Hon. Ada Brown, U.S.D.J.) issued a memorandum opinion and order enjoining the enforcement of the Federal Trade Commission’s (FTC) non-compete rule. In so doing, the court held that the plaintiff, Ryan LLC, was likely to succeed on the merits of its claim that the FTC exceeded its rulemaking authority by issuing a substantive rule banning most non-compete clauses and otherwise acted in an arbitrary and capricious manner.

The district court further found that the plaintiff would suffer imminent irreparable harm in the absence of an injunction, the equities decidedly tipped in plaintiff’s favor, and the granting of the requested injunction serves the public interest. However, the court made clear that the injunction was limited to the specific plaintiff and does not extend beyond the parties to that specific litigation. In other words, while the order is indisputably a victory for those who seek to challenge the legality of the non-compete ban, it does not have any impact on the millions of other individuals and businesses impacted by the FTC non-compete ban. The court did make clear in its order that it will issue a decision on the merits of the litigation (i.e., the legality of the FTC’s non-compete ban) no later than Aug. 30 of this year.

The current effective date of the FTC non-compete ban is Sept. 4. As such, given the close proximity in time between the Northern District of Texas’s anticipated decision date and the effective date of the FTC non-compete ban, businesses need to take appropriate steps to prepare for the possibility that the FTC non-compete ban goes into effect. Such steps should include identifying any “workers,” both current and former, who may be subject to non-competes and preparing, but not sending, the notices required by the FTC non-compete ban. We will continue to closely monitor the situation and provide updates as they become available.

Bradley A. Hoppe is a member (partner) in the Buffalo office of Syracuse–based law firm Bond, Schoeneck & King PLLC. He is a litigation attorney who handles a wide range of business, commercial, and municipal matters at the trial and appellate levels in both state and federal court. Contact Hoppe at bhoppe@bsk.com. This article is drawn and edited from the law firm’s website.

Onondaga County seeks proposals for new downtown hotel

Construction, Design & Real Estate, Sports, Entertainment & Tourism, Subscriber Only

County lawmakers approve hotel initiative SYRACUSE — Onondaga County will soon issue a request-for-proposals (RFP) to the private sector build a

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

County lawmakers approve hotel initiative

SYRACUSE — Onondaga County will soon issue a request-for-proposals (RFP) to the private sector build a convention-center hotel on a county-owned parking lot just east of the Everson Museum of Art in downtown Syracuse.

A spokesman for the office of Onondaga County Executive Ryan McMahon on July 9 told CNYBJ in an email that the county will issue the RFP in a few weeks. The Onondaga County Legislature on July 2 voted to approve a hotel initiative that the county executive had sent to lawmakers, he added.

That initiative will offer grants ranging from $50,000 to $750,000 to developers to help in closing funding gaps in new hotel construction and/or incentivize existing hotels to add rooms to their current hotel stock.

McMahon on June 4 discussed both the RFP and the hotel initiative on the county-owned parking lot where a developer would build the future convention-center hotel.

Danny Liedka, executive director of Visit Syracuse, tipped his cap to Onondaga County leaders for the effort to improve the area’s hotel situation.

“Instead of waiting for this problem to really take hold, they’ve been aggressive in being out in front of it,” Liedka said in speaking at the same June 4 event. “There’s no lack of interest here; it’s the interest rates that are causing the delay, and I do believe this incentive can help bridge that gap for these developers.”

Onondaga County and Syracuse have really made “incredible strides” in hotel occupancy as well as competitiveness with its Thruway neighbors.

“Now, we’re on par with them, so let’s not give ground back,” Liedka said. “The way we do give ground back is without hotels but our county executive and our legislature are stepping up to the plate to make sure that we don’t go backwards. We continue to go forwards and take advantage of the momentum.”

McMahon also noted the county had worked with Visit Syracuse and Syracuse University to get the NCAA men’s basketball tournament to return to the JMA Wireless Dome, but the lack of hotels prevented that from happening.

Hotel RFP

In his June 5 remarks, McMahon said the county hopes to issue the RFP within 60 days to developers both in New York and across the country. The county will form an RFP committee to review the responses when they come forward.

“For years, we’ve heard from Visit Syracuse and our team at [ASM Global] about the need for connectivity with our convention center and a hotel. The Hotel Syracuse, now the [Marriott Syracuse Downtown] is a jewel in our community and helped fill that void,” McMahon said in his remarks.

But he also noted that due to the lack of hotel-room inventory, it’s “very difficult” for the convention center to book out any business and compete for conventions when you have a lack of inventory.

Hotel initiative

The proposal for the Onondaga County Hotel Initiative would use $4 million from the room-occupancy tax fund balance, McMahon said.

Besides helping the close funding construction funding gaps and helping existing hotels add rooms, the grant program could also help developers focused on adaptive reuse projects of old buildings with “different potential,” he added.

“Criteria will be established to grade each proposal, including but not limited to, the type of hotel and most importantly, how quickly it will come online and obviously looking at locations of regional significance as well,” the county executive said.

Onondaga County Community Development will operate the Onondaga County Hotel Initiative and will make funding awards “on a rolling basis.” Developers will submit documentation showing they have a viable project, financing in place, and identifying the project’s funding gap.

“We don’t know how successful this will be. I know that many of us, including myself, think that this will be a start to potentially a second phase of this type of funding, but we know we need rooms. We need them now. We need to incentivize to get projects going not 24 months from now but, quite frankly, right now,” McMahon contended.

Northeast Jazz & Wine Festival moving to the Landmark Theatre

Sports, Entertainment & Tourism, Subscriber Only

SYRACUSE — It’s an event that’s moving from one historic Syracuse location to another near the end of the month. The Berkshire Bank Northeast Jazz & Wine Festival, which has been held in Clinton Square since 2001, is moving to a new part of downtown Syracuse July 26-27. The Landmark Theatre will host the festival’s

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

SYRACUSE — It’s an event that’s moving from one historic Syracuse location to another near the end of the month.

The Berkshire Bank Northeast Jazz & Wine Festival, which has been held in Clinton Square since 2001, is moving to a new part of downtown Syracuse July 26-27.

The Landmark Theatre will host the festival’s main stage and a second stage on the mezzanine level. In addition to the music, the festival will include wines from around the world in the lobby bar, along with beer and whiskey.

The event, presented annually by CNY Jazz, is considered “the performing arts anchor of Artsweek in Downtown Syracuse,” per the June 20 announcement.

Besides the activity inside the Landmark, the 100 block of West Jefferson Street, adjacent to the theater, will host a food truck and vendor village, the event organizer said. It’ll include the Stanley Law youth and community stage, which will feature the area’s emerging talent, along with community groups and strolling musicians.

“The move makes a lot of sense for us, and for our audience,” Larry Luttinger, CNY Jazz founder and festival organizer, said in the announcement. “We’re enhancing public safety and improving climate resiliency in one stroke and retaining all the elements of a festival that’s been serving Syracuse for over 20 years. We’re now only two blocks from the Arts and Crafts Festival, and now situated at the gateway of Armory Square. We’re reducing street closings at a time when we’re entering a long period of I-81 construction around downtown. Plus, we’re next to the biggest parking lot downtown, next to the Armory. All this spells success, a better audience experience, and a better arts showcase for downtown, Central New York, and cultural tourists.”

Event headliners include Shayna Steele, who will be the final performer on July 26, and the Family Stone will take the stage July 27 to “celebrate the five decade-plus legacy that changed soul music forever.” The new band is led by original member and Rock and Roll Hall of Famer Jerry Martini and includes second generation band members Phunne Stone and Swang Stewart. The group is presented in association with Tom Honan and Live Space Entertainment.

The main stage lineup also includes the smooth jazz guitar and sax double bill of Blake Aaron and Will Donato; dean of the west coast jazz trumpet scene Clay Jenkins with the Lamb, Mack, and Sorgen Trio; Brass Inc, high energy horn band and regional favorite; and CNY Jazz legacy Mike Kammers, returning from Brooklyn to his hometown with his entire MK Groove Orchestra.

The Artsweek map is changing this year as well. The festival will coincide with the opening week of the new downtown “Art Trail” connecting multiple cultural destinations across the city.

“We’re grateful to work with the Downtown Committee to produce this summer’s first-ever Art Trail, which coincides with the Northeast Jazz and Wine Festival and the Syracuse Arts and Crafts Festival,” Steve Butler, executive director of CNY Arts, said in the announcement. “The Art Trail is an exciting opportunity for everyone to enjoy all the fabulous free art that Syracuse has to offer. CNY Jazz has made significant contributions to our creative community over the years, and we’re thrilled that these events offer such a unique lineup next month.”

The jazz and wine festival continues to benefit from “strong” support at the state level, and a large group of corporate sponsors also contributes to the success of the festival, per the announcement.

“We’re once again delighted to sponsor this festival. We look forward to enjoying this family friendly event with the entire Central New York community,” Jim Morris, New York State president of title sponsor Berkshire Bank, added in the announcement.

Emerson Foundation names new board president

Nonprofits, Subscriber Only

AUBURN — The Fred L. Emerson Foundation board of directors has elected Lori E. Robinson to serve as the ninth president of the foundation. Robinson is the great-granddaughter of Fred L. Emerson, the foundation’s founder. Born and raised in Auburn, Robinson has served as a director of the foundation since 1992. She is a graduate

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

New York SBDC to honor regional small businesses in client roadshow presentations

Small Business, Subscriber Only

ALBANY — The New York Small Business Development Center (NY SBDC) has scheduled award presentations at businesses in Lowville, Utica, Oneonta, and Hogansburg in Franklin County. They’re among 10 award recipients that NY SBDC will honor as part of its upcoming client awards roadshow beginning July 29, per its July 8 announcement. The NY SBDC’s

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

ALBANY — The New York Small Business Development Center (NY SBDC) has scheduled award presentations at businesses in Lowville, Utica, Oneonta, and Hogansburg in Franklin County.

They’re among 10 award recipients that NY SBDC will honor as part of its upcoming client awards roadshow beginning July 29, per its July 8 announcement.

The NY SBDC’s 2024 Client Awards Roadshow is described as a “[statewide] celebration and acknowledgment of outstanding small businesses throughout New York.”

Each recipient is a client of a regional SBDC, including Onondaga, Mohawk Valley, Binghamton, and Canton.

The 10 award recipients also include those that operate in Jamestown, New York City (two), Staten Island, and Stony Brook on Long Island.

This year’s 10 award winners were selected in several categories and selected from more than 23,000 small-business clients across New York State, NY SBDC said.

“We are excited to continue this tradition of honoring the remarkable achievements of our small business clients,” Sonya Smith, state director of the New York SBDC, said in the announcement. “The Annual Client Awards Roadshow allows us to spotlight the diverse and innovative entrepreneurs contributing significantly to New York’s economic landscape. It’s a testament to the resilience and creativity of our small business community, as well as the dedicated support provided by our SBDC advisors.”

Recipients, presentation dates

Below is a listing of the award recipient and category under the date of the award presentation.

July 29

NY SBDC will recognize Hand in Hand, an early childhood center, in Lowville as the Rural Business of the Year. Jennifer Bleakley is the executive director and, it is an Onondaga SBDC client.

July 30

Shepherd Group LLC d/b/a BGM Supply is a company specializing is heating, ventilation, and air conditioning (HVAC) and plumbing supplies. NY SBDC selected it for the Procurement Business of the Year. Mary Shepherd is the owner, and it is a Mohawk Valley SBDC client.

Aug. 14

Stop, Pop & Roll Boba is described as a “Pop up vendor rolling through the FLX area bringing custom popping fruit Boba Tea deliciousness!” per its Facebook page. NY SBDC will recognize operator Greyson Wells as the Young Entrepreneur of the Year. Wells is a client of the Binghamton SBDC.

Aug. 15

NY SBDC will recognize Yaks Youth Center, LLC in Oneonta as the Community Impact Business of the Year. Heather Boxill-Yakalis is the owner and a client of the Binghamton SBDC.

Sept. 5

AM Equipment NY of Hogansburg is the Growth Business of the Year. Andris White is the owner and a client of the Canton SBDC in St. Lawrence County.

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Get our email updates

What's New

Upcoming Events

Greater Binghamton Chamber Connect Over Lunch

NOFA-NY 43rd Annual Winter Conference

Central New York Political Leadership Institute Information Session

CNYBJ Job Board

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Also, honors difference makers

Downtown Awards of Excellence

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

County lawmakers approve hotel initiative

Hotel RFP

Hotel initiative

Get Instant Access to This Article

Get Instant Access to This Article

Get Instant Access to This Article

Recipients, presentation dates

Get our email updates