Syracuse Economy

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The number of cases of COVID 19 in Onondaga County jumped 35% as of Wednesday’s local update.  County leaders continue to emphasize staying isolated, while saying those told to stay in quarantine could face criminal charges should they ignore the order. 


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Economic data for the last year show the Syracuse economy enjoyed one of its best period of success in a long time.  And officials at Centerstate C-E-O that released the numbers hope it has promise for extended growth into the future.  President Rob Simpson calls the uptick in jobs and wages remarkable.

Chris Bolt/WAER News

New York's minimum wage increased across the state this week to $11.80 an hour – outside of New York City - and one Ithaca business owner says she’s ok with it.   Jan Rhodes Norman owns Ithaca Made and Silk Oak clothing and has already been paying two full-time employees higher than the state’s minimum wage for years now.  They earn $15.37 an hour. 


John Smith / WAER News

About 600 local business leaders are being called upon to think creatively in 2019 to expand upon 2,800 new job gains in the Upstate region last year as well as how to best attract and retain talent to fill a wealth of current and future job openings.

 


provided photo / M & T Bank

An M&T Bank survey of Upstate New York businesses and manufacturers seemingly reflects the increase of U.S. GDP announced last week of 4.1% during the second quarter of 2018.  Ahead of that news, the M&T survey was conducted in May and found that 57% of Upstate businesses anticipated the economy would continue to improve.  However, Manager of Small Business Banking, Lee DeAmicis of Syracuse said that these businesses wanted to be certain of the fate of the economy.

Chris Bolt/WAER News

An investment of $315 million dollars in Downtown Syracuse construction projects, the addition of 440 new hotel rooms within three years and a thriving arts, entertainment and sports scene are all positive signs of Downtown’s resurgence. 

Katie Zilcosky / WAER News

A new report released Wednesday by the State Comptroller shows that Central New York’s post-recession economy remains in a state of transition when factoring in unemployment, poverty and large employers moving out.  However, there are bright spots including a workforce of young adults who attended college locally, a technically experienced workforce, and a lower cost of living.  Tom DiNapoli has been focused on auditing economic development programs such as Start-Up New York and others which aims to lure new companies and create new jobs. He says there’s room for improvement.