TMD expands, unites Syracuse headquarters office

SYRACUSE — Three years of splitting employees between two nearby locations will end soon when accounting firm Testone, Marshall & Discenza, LLP (TMD) finishes an expansion project at its 432 N. Franklin St. headquarters.

 

“We ran out of space three years ago,” says Frank Discenza, managing partner. To ease things, the firm leased about 3,000 square feet of office space on Solar Street and housed about 16 employees there. While that set up worked, it was by no means an ideal or permanent solution, Discenza says.

 

TMD (www.tmdcpas.com) recently came across the opportunity to remedy that situation when fellow Foundry tenant Mass Mutual declined to renew its lease, opening up 11,000 square feet of space adjacent to TMD’s offices. TMD, which co-owns the building as part of 432 N Franklin Property LLC, decided to take the space and add it to its current 16,400-square-foot office.

 

The accounting firm gained access to the space Aug. 1 and began work immediately to retrofit it to its needs, Discenza says. Work includes removing carpet and wallpaper, painting, installing new carpets, creating an opening to connect the two offices, and reconfiguring the west side building entrance. TMD hired MCK Building Associates, Inc. of Syracuse to handle the project.

 

The new space will add numerous offices as well as two new conference rooms, Discenza says. Along with renovating the space, TMD is adding new technology to the conference rooms and updating both its network and telephone systems. Work was expected to be completed by Labor Day.

 

The $325,000 project will leave TMD with a nearly 27,000-square-foot office that not only serves the company’s current needs, but also provides room for future growth, Discenza says. “That’s going to enable us to have some growth,” he says.

 

Recently, the firm landed several medical practices as clients as well as a number of U.S. subsidiary locations for foreign-owned companies, Discenza says. TMD plans to continue its growth by expanding its footprint outside of the greater Syracuse area. Adding staff will allow the firm to do that by ensuring it has enough people to service existing clients while others meet with potential new clients, Discenza says.

 

TMD has already begun hiring and will add two new entry-level employees this fall, he says, bringing the firm’s total employment to 85 people. “We’re actively looking for a couple more experienced people,” Discenza adds. TMD is currently advertising an opening for a tax manager as well as internships on its website.

 

TMD, founded in 1976, provides audit and accounting services including bankruptcy consultation, budgeting, forecasting, forensic accounting, business start-up planning, expansion planning, debt restructuring, employee-benefit consulting, succession planning, and merger and acquisition services.

 

Along with offering that extensive array of services, TMD also provides quality service, often with the same person serving the same client for many years, Discenza contends. The firm is able to offer that continuity of service because it has a very low turnover rate, he says. “The people, the partners, the principals, the managers are the same people” they’ve been for years, he notes.

 

TMD also better serves its clients through its membership in CPAmerica International, a national association of independent CPA firms that share best practices, networking opportunities, and expertise to help each other. That network of resources helps put TMD’s technical knowledge at the same level of a national firm such as PricewaterhouseCooper’s without losing the personal touch a hometown firm provides, Discenza contends. TMD joined CPAmerica in 1998, and “it’s been a great experience for us.”

 

Discenza says he expects TMD to make a smooth transition into its new office space and hopes to hold an open house later in the fall.

 

 

 

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