Christopher Lenish

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FustCharles, a certified public accounting firm in Syracuse, recently hired Christopher Lenish as an audit associate. He will help service the firm’s manufacturing, health care,

Q3 earnings slip at Chemung Financial as new branch opens

Banks & Credit Unions, Construction, Design & Real Estate, Southern Tier, Subscriber Only

ELMIRA — Chemung Financial Corp. (NASDAQ: CHMG), parent company of Chemung Canal Trust Company, recently reported net income of $5.7 million, or $1.19 per share, in the third quarter, down 25 percent from $7.6 million, or $1.61 per share, in the year-ago quarter. However, the latest quarter’s results were an improvement over Chemung Financial’s net

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However, the latest quarter’s results were an improvement over Chemung Financial’s net income of $5 million, or $1.05 a share, in this year’s second quarter.

“Our balance sheet is well positioned as we enter into this rate-cutting cycle,” Chemung Financial President/CEO Anders M. Tomson said in the Elmira–based banking company’s Oct. 22 earnings report. “We are seeing the benefit of higher-yielding loans driving interest income, while funding costs continue to moderate. Strong non-interest income production and a stable credit environment were a welcome addition to an already strong quarter.”

Chemung Canal Trust recently opened a new full-service branch in Williamsville, in western New York. Salaries and wages at the banking company increased $600,000 as a result of the new branch, which opened Oct. 11. The bank also received regulatory approval to convert a former branch in Clarence into an administrative office to support the bank’s western New York operations.

“As we begin operations in our new Williamsville, New York location, we are eager to continue fostering an environment committed to our mission of community-oriented baking, both in western New York and throughout the bank’s footprint,” Tomson said.

Chemung Financial reported total assets of $2.77 billion as of Sept. 30, up from $2.71 billion on Dec. 31, 2023, due to an increase of $56.3 million in loans and $43.6 million in cash and cash equivalents. Those gains were partially offset by a decrease of $30.9 million in total investment securities and $6.9 million in accrued interest receivable.

Chemung Canal Trust Company, a full-service community bank with trust powers, operates 31 branches in New York and Pennsylvania.

Hitiksha Morzariya

People on the Move

FustCharles, a certified public accounting firm in Syracuse, has hired Hitiksha Morzariya as an audit associate. She will help service the firm’s manufacturing, health care,

NUAIR CEO says HQ at Syracuse airport just makes sense

Construction, Design & Real Estate, Manufacturing & Engineering, Small Business, Sports, Entertainment & Tourism, Subscriber Only, Technology

SYRACUSE — Ken Stewart, president and CEO of NUAIR, believes opening the organization’s new headquarters at Syracuse Hancock International Airport (SYR) “just makes sense.” “Our team works with the next generation of uncrewed and electric aircraft and is developing the platform to safely integrate them into the national airspace… what better place to work than

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SYRACUSE — Ken Stewart, president and CEO of NUAIR, believes opening the organization’s new headquarters at Syracuse Hancock International Airport (SYR) “just makes sense.”

“Our team works with the next generation of uncrewed and electric aircraft and is developing the platform to safely integrate them into the national airspace… what better place to work than in an airport that has had military drones like the MQ-9 Reaper taking off autonomously for years? We’re honored that many of our partners and legislature are here to celebrate this occasion and continue to recognize the innovation in Central New York,” Stewart said.

NUAIR on Oct. 30 formally opened its new headquarters at the Syracuse airport.

The nonprofit NUAIR is short for the Northeast UAS Airspace Integration Research Alliance, Inc. Its headquarters was previously located at 250 Harrison St. in Syracuse.

Those attending the event included Assemblymembers William Magnarelli (D–Syracuse), Pamela Hunter (D–Syracuse), and Al Stirpe (D–Cicero), as well as other representatives from New York, NUAIR board and Alliance members, key executives, and industry partners.

“We are at an incredible time in Central New York’s history as we have assumed a leadership position in proving Uncrewed Aerial Systems (UAS) and Advanced Air Mobility (AAM) aircraft can safely, securely, and efficiently integrate into the National Airspace System,” Jason Terreri, executive director of the Syracuse Regional Airport Authority, said in the NUAIR announcement. “We are proud to partner with NUAIR to remain on the cutting edge of these efforts and are excited to see how they positively impact the way we move people and goods throughout Central New York and beyond!”

NUAIR says its newly established headquarters at SYR sits immediately next to the NUAIR Center of Excellence for Advanced Air Mobility.

The organization says its Center of Excellence “offers visitors a glimpse into the future of transportation” with UAS and advanced air mobility (AAM) aircraft.

“Supporting the innovative technologies and emerging industries that are creating the jobs of tomorrow is at the heart of ESD’s mission. Together with NUAIR, we are laser-focused on elevating the UAS industry in Central New York and the Mohawk Valley,” Hope Knight, president, CEO and commissioner of Empire State Development, said in the NUAIR announcement. “The NUAIR Center of Excellence for Advanced Air Mobility represents yet another major milestone that will help to ensure the uncrewed system sector’s continued growth in New York State.”

Syracuse becomes an arts, culture, & entertainment destination

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

Downtown Committee’s fall progress breakfast discussed the topic SYRACUSE — Business owners and the leader of the Everson Museum of Art recently shared their thoughts on how downtown Syracuse is an arts, culture, and entertainment destination that has “unique experiences for everyone.” They spoke on the theme of the Oct. 29 fall progress breakfast, that was presented

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Downtown Committee’s fall progress breakfast discussed the topic

SYRACUSE — Business owners and the leader of the Everson Museum of Art recently shared their thoughts on how downtown Syracuse is an arts, culture, and entertainment destination that has “unique experiences for everyone.”

They spoke on the theme of the Oct. 29 fall progress breakfast, that was presented by the Downtown Committee of Syracuse, Inc., in partnership with National Grid (NYSE: NGG), at the Marriott Syracuse Downtown.

About 450 people attended the event, the Downtown Committee tells CNYBJ in an email.

The speakers included Elizabeth Dunbar, president and CEO of the Everson Museum of Art, who discussed the recent opening of Louise, a new café that’s described as a “unique and interactive dining experience inside the museum,” according to a Downtown Committee announcement.

Dunbar spoke about the Rosenfield collection and how diners are invited to enjoy the pieces and use them as part of their dining experiences.

In addition, Sarah Pelligrini and Rob Zaccaria, co-owners of Noble Cellar, shared details of the opening of Noble Cellar earlier this year and the rich history of its location at 304 E. Onondaga St., next door to the Onondaga County Courthouse. They spoke about the importance of preserving and honoring the building while creating a new upscale experience for diners to enjoy.

The fall progress breakfast speakers also included Nikita Jankowski, founder of Belesai Communications, who spoke about her experience in the travel industry and the assets downtown Syracuse has in the arts, culture, and entertainment world and why she considers Syracuse a travel destination. Jankowski highlighted the places and experiences that the city has to offer and why people want to travel into downtown Syracuse.

“Listening to today’s presenters share the inspiration behind their continued investments in Downtown Syracuse was at the heart of today’s event. Learning how our arts, culture and entertainment scene has grown through the years highlights that Downtown Syracuse is a true destination,” Merike Treier, executive director of the Downtown Committee of Syracuse, said in the announcement.

The Downtown Committee says the progress breakfast series is known for providing “exclusive previews” of projects and items that the community is “buzzing about.” Inviting presenters to share their stories behind these “exciting initiatives helps build a deeper connection to Downtown Syracuse and provides insight into the growth underway,” per the announcement.

The progress breakfast is held twice a year, in the fall and spring seasons. The event receives corporate-sponsorship support from AmeriCU, CXtec, FustCharles, and Tompkins, the Downtown Committee said.

Turning Stone opens redesigned Sportsplex

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

VERONA — Turning Stone Resort Casino on Nov. 8 celebrated the grand reopening of its renovated Sportsplex, which features a new indoor golf range, pickleball facility, and more. Renovated as part of the $370 million renovation project at Turning Stone, the Sportsplex also includes retail options and other amenities, the resort announced. “With the brand

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VERONA — Turning Stone Resort Casino on Nov. 8 celebrated the grand reopening of its renovated Sportsplex, which features a new indoor golf range, pickleball facility, and more.

Renovated as part of the $370 million renovation project at Turning Stone, the Sportsplex also includes retail options and other amenities, the resort announced.

“With the brand new Sportsplex, the Turning Stone evolution is building on our already larger than life golf and recreation experiences and making them even better,” Turning Stone Enterprises Director of Golf Operations David Winget said in a release. “This complete reimagining of the facility brings together the latest technology and exciting new amenities with the award-winning service Turning Stone is known for to deliver an experience unlike anything else in upstate New York.”

The new Sportsplex now features 36 golf bays that offer cutting-edge Trackman ball-flight technology designed to help golfers of all levels improve their game. On the lower level, each bay features a 32-inch monitor for Trackman tech, while the upper-level bays provide players access via their mobile devices. The Sportsplex also offers new extended target greens.

The facility is also home to three full indoor pickleball courts where guests can play with friends and family or join competitive leagues. Lessons will also be available.

The new retail center offers a variety of golf equipment from top brands and an expanded apparel collection.

Along with the full update of indoor golf and recreation options, the Sportsplex continues to offer a golf short-game area, daily golf lessons, clinics, custom fittings, indoor tennis, and racquetball. All-season climate control ensures year-round use, Turning Stone Enterprises says.

The Sportsplex renovation is the latest phase in the Turning Stone project, which is the Oneida Indian Nation’s largest reinvestment in the resort in 20 years. The project will double the resort’s existing conference facilities while adding a new hotel, restaurant, outdoor event spaces, and parking garage.

The resort currently features five hotels, two spas, five golf courses, more than 20 dining options, a 125,000-square-foot gaming floor, a sports-betting lounge, The Showroom concert venue, several nightlife venues, and a 5,000-seat arena.

Naturally Lewis wins tourism award for Tug Hill visitor guides

Sports, Entertainment & Tourism, North Country, Subscriber Only

LOWVILLE — Naturally Lewis, Inc. has been awarded a New York State Tourism Industry Association Tourism Excellence Award for the 2024 Discover Tug Hill Visitor Guides. It received the honor at the 2024 New York State Tourism Industry Association Tourism Excellence Summit at the Canfield Casino in Saratoga Springs, according to a Sept. 13 announcement.

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Greek Peak president inducted into SKI NY Hall of Fame

Sports, Entertainment & Tourism, Small Business, Subscriber Only

VIRGIL — Wes Kryger, long-time president of Greek Peak Mountain Resort, was recently inducted into the SKI NY Hall of Fame at a special ceremony up at the mountain. The event was held on Nov. 7 at The Lookout at Hope Lake at the resort in the town of Virgil, with a presentation being given

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Franklin Square Park gets its fountain back after restoration

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

SYRACUSE — Franklin Square Park at the corner of Plum and Solar Streets in Syracuse again includes an attention-getting fountain. The Franklin Square fountain has been reinstalled following a 12-month absence for a more than $77,000 restoration project. The fountain was originally installed in the early 1990s. Since that time, it faced wear and tear,

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Embassy Suites hotel near Destiny USA has a new owner

Sports, Entertainment & Tourism, Subscriber Only

SYRACUSE — A Virginia–based private-equity firm is the new owner of the Embassy Suites by Hilton Syracuse Destiny USA hotel. The hotel is located at 311 Hiawatha Boulevard West, across from Destiny USA. Excel Group — an Arlington, Virginia–based private-equity firm that says it owns, develops, and invests in premium-branded limited-service hotels across the U.S.

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SYRACUSE — A Virginia–based private-equity firm is the new owner of the Embassy Suites by Hilton Syracuse Destiny USA hotel.

The hotel is located at 311 Hiawatha Boulevard West, across from Destiny USA.

Excel Group — an Arlington, Virginia–based private-equity firm that says it owns, develops, and invests in premium-branded limited-service hotels across the U.S. — on Nov. 12 announced that it has acquired the 209-room hotel.

Excel Group didn’t disclose the purchase price. The Onondaga County property record for 311 Hiawatha Blvd West and Solar Street lists the owner as Destiny USA Real Estate LLC. The total assessment for 2024 is nearly $13.6 million and the full market value is listed at more than $21.7 million, according to the county record.

“We are thrilled to acquire the Embassy Suites by Hilton Syracuse Destiny USA, the premier hotel in the market. This property is strategically positioned to benefit from Syracuse’s ongoing resurgence,” Shoham Amin, founder and principal of Excel Group, said in a statement. “This investment allows us to capitalize on the recent supply and demand imbalance caused by hotel closures in the area. Historically, this market has been stable, driven by healthcare and education sectors, and is now poised for significant growth with Micron’s upcoming construction.”

The Embassy Suites by Hilton Syracuse Destiny USA hotel opened in 2017.

Excel Group says the hotel is “strategically located in an area with increasing demand for hotel space stemming from shopping, travel hubs, Syracuse University, and healthcare institutions, including Upstate University Hospital and St. Joseph’s Health Hospital, as well as the area’s robust development pipeline.”

The hotel is also located several miles from the site of Micron Technology’s (NASDAQ: MU) planned $100 billion chip complex, which will begin construction in 2025 and is expected to generate 50,000 direct and indirect jobs. The Embassy Suites is also a short drive from the JMA Wireless Dome.

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