ON THE JOB: The Outlook for 2025: What’s in Store for Area Businesses?
By Deborah Jeanne Sergeant “As a law firm that began in Central New York in 1855 and has always had a major office here, our dedication to the region…
Oswego County Business Magazine
By Deborah Jeanne Sergeant “As a law firm that began in Central New York in 1855 and has always had a major office here, our dedication to the region…
He has spent his entire adult life helping his communities. Now, as head of Parish-based BioSpherix, he looks to help the world By Stefan Yablonski Syed Ahmed Mustafa has…
Local manufacturers invest in new equipment to stay competitiveBy Deborah Jeanne SergeantAs with many industries, machine shops need to keep up or get left behind.At Universal Metal Works in Fulton, company president John Sharkey, IV has added a new Cincinnati, Inc. 350-ton press brake with a 16-foot bed and seven-axis CNC controls for forming metal.“It’s definitely made us a lot more efficient,” Sharkey said. “We can do more complex bending. It’s also more accurate.”The new equipment helps Universal create more pieces per hour. Although efficiency can mean a reduction in the labor force, Sharkey said that the new press brake has had an opposite effect.“If anything, it helps us get more jobs as we have more formed parts we can put together,” he said.Cincinnati, Inc. trained Universal employees on how to use the machine when they set it up about a year ago. Universal employs 32. Sharkey estimates that the return on investment should occur in around five years.One potential drawback to high-tech equipment is its eventual obsolescence; however, Sharkey feels reassured by Cincinnati’s long-term involvement in the industry and the general longevity of its equipment.“The company has equipment out in the field since the 1930s that’s still out there (more…)
After a few delays, German-owned company is about to start building facility in southern Oswego CountyBy Stefan YablonskiBenjamin Morrow is Daldrop SBB’s Syracuse operations manager.After a brief lag, Daldrop SBB’s work on the future home of its manufacturing facilities is “full steam ahead.”Daldrop SBB, LLC, is a German-owned clean room manufacturing, sales, service and engineering company.It continues work on the 32,000+ square foot cutting-edge project in the L. Michael Treadwell Oswego County Industrial Park in Schroeppel. It marks the largest expansion outside of Germany in the company’s 71-year history.And it reinforces the success of its SHELMEQ cleanroom systems within the pharmaceutical industry — all while continuing to foster the international cleanroom manufacturer’s leadership presence in the United States, according to Benjamin Morrow, Syracuse Operations Manager for Daldrop.“We are a bit behind with construction as we just released the pre-engineered metal building framing steel order,” Morrow said.They are also wrapping up the final engineering for the site and expect to break ground in October, he added.“From our original timeline the project grew a little bit and the scope of what’s going to be happening in this facility changed a bit as well. So we had to do some re-engineering,” he explained. (more…)
Grant to fund infrastructure at L. Michael Treadwell Industrial Park in SchroeppelThe County of Oswego Industrial Development Agency (IDA) has been awarded a $2.5 million grant from the U.S. Economic Development Administration (EDA) to fund roads, water and sewer infrastructure improvements in the expanded portion of the L. Michael Treadwell Oswego County Industrial Park.“We are thrilled to receive the news of the $2.5 million grant for the expansion of the Oswego County Industrial Park,” said Oswego County Legislature Chairman James Weatherup. “This significant investment will pave the way for the development of shovel-ready sites, enabling us to attract new industrial businesses and stimulate economic growth in our county.”This grant will allow the IDA to more than double the size of the existing industrial park by building public infrastructure into the 185-acre expansion site that the IDA purchased in 2021.The public infrastructure will include the construction of over 3,700 feet of new public roadway, over 4,200 feet of new sanitary sewer and over 3,700 feet of new public waterlines. This EDA investment will be matched with $2.5 million in IDA funds to prepare up to 10 shovel-ready sites to attract advanced manufacturing and semiconductor supply chain businesses that are estimated to (more…)
Need a part? Here’s how the process worksBy Deborah Jeanne SergeantEver wonder how new parts and products are made? Local fabrication shop leaders shared an inside look at the procedure.Many times, salespeople at job sites bring leads to EJ Co, Inc., in Schroeppel.“We find out from the customer what the job is and create a new product request,” said Tim McKernan, facility manager.The company’s staff of engineers take new product requests (NPRs) and design the requested part or product. After developing the price quote, a sold design may require a prototype or may not, depending on the complexity of the project and the customer’s desires.“For the Big Dig project in Boston, the original drainage grates were supplied by a foundry that’s no longer around,” McKernan said. “They wanted replacement grates with a special locking device. We submitted a prototype, and we’ll probably build hundreds of those to replace grates that have fallen apart.”Typically, a project can be completed without a prototype, with drawings and revisions as customers spots changes and has new ideas on what they want. EJ revises the drawing until approved. Then it’s time to build.“Sometimes they don’t know what they want,” McKernan said. “We pride ourselves in (more…)
Officials at ConnextCare on Aug. 7 held a groundbreaking ceremony at 120 E. First St. in Oswego where they have started construction on their new office building. ConnextCare currently has…
SUNY Oswego, in partnership with Monroe Community College (MCC), recently received a federal grant to support study-abroad opportunities connected to the massive economic impact of Micron Technologies building in Central…
You can put away a nest egg even if you don’t make a lot of money, experts sayBy Deborah Jeanne SergeantMost financial advisers have tips for people with impressive portfolios and a lot of money.But for those who don’t have a lot of liquidity — people who are on a budget — it’s still possible to save for retirement.“Most people are not on a budget, so they don’t know they have extra money,” said Cynthia Scott financial adviser and owner of OMC Financial in DeWitt. “Many people live on credit cards and when you charge things, it doesn’t seem like you’re spending money. You can’t have liquidity for investments until you sit down and design a budget to see where you can cut down and reduce so you have liquidity for an IRA, Roth IRA or a private investment account.”By knowing how much money you have and how you spend it, it’s easier to set aside money to invest.“Most people who have impressive portfolios have always diligently known where their money went and made sure they saved along the way,” Scott said.But if you lack a time machine to go back to your 20s and start investing, there’s still hope, (more…)
Here’s where their income goes and how to plan accordinglyBy Dawn AllcotYou might be expecting your expenses to decrease with retirement and, according to 2022 data from the Department of Labor’s Bureau of Labor Statistics, that’s true.The average American retiree spends $54,975 each year.Compare that to adults aged 25 to 34, who spend $67,883 yearly, while those aged 35 to 44 spend $86,049 per year. Between the ages of 45 to 54, Americans spend $91,074 annually, according to the Bureau of Labor Statistics. However, the earnings for these age groups are proportionately higher, too.The average income before taxes for U.S. retired persons was $48,780 — less than the average expenditure. In order to keep your finances balanced as a retiree — as the average retiree is spending more than their income — you’ll want to consider what you’re spending on and how to manage that.For retirees ages 65 and up, the bulk of their income goes to four expenses. What are they? And how can you work to reduce these costs so your retirement income lasts longer — or to free that money up for things like traveling and hobbies? HousingHousing, on average, makes up about 20% of a retirees’ expenses, (more…)