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Economy and Business news

Office of Governor Cuomo

Governor Andrew Cuomo was in Batavia Friday afternoon to announce that city will receive a $10 million dollar state grant.

Batavia is the Finger Lakes winner of the second round of the Downtown Revitalization Initiative. The city is in the process of coming up with a plan to come up with projects to improve the downtown area in terms of housing, transportation, economic development and other areas.

Cuomo notes that Batavia has already worked on helping start-up businesses.

Working to revitalize a public square in Rochester

Oct 2, 2017
cityofrochester.gov

A local group is trying to revitalize a section of city that is the first thing many visitors see when they come to Rochester.

The Washington Square Park Community Association is working to reinvigorate this historical section of downtown, boarded by Broad Street, Chestnut Street and the Genesee River.

President of the Washington Square Park Community Association, Jason Schwingle, says it's one of the very first public squares in the city, and its also home to some of Rochester's largest organizations.

All 12 of the metro areas in New York State had economic growth rates below the national average last year.

That’s according to the Empire Center, a fiscally-conservative think tank which looked at the recently released federal data on Gross Domestic Product.

Ellen Abbott / WRVO News

Large disparities exist in the City of Rochester when it comes to getting access to credit.

That’s one of the findings in a new report from the Federal Reserve Bank of New York.

The report was discussed by the president of the New York Fed, William Dudley, who made stops across upstate New York this week including in Rochester.

He says this report on the availability of credit in Rochester is a first for the New York Fed, and it breaks down the situation by zip code.

Reimagine public transit in Rochester

Sep 22, 2017
myrts.com

Rochester's bus company wants its customers to "Reimagine RTS."

That's the name of a forthcoming study of public transit in Monroe County, according to Regional Transit Service CEO Bill Carpenter.

Carpenter says the current bus system was designed 40 years ago when downtown Rochester was the center of the community in a number of ways.

Randy Gorbman / WXXI News

Federal, state and local officials came to Rochester Thursday to tout the progress being made at a photonics facility in the city.

Congresswoman Louise Slaughter, Chamber of Commerce President (and AIM Photonics Leadership Council Chairman ) Bob Duffy, and various state officials put on their hard hats, and toured a couple of floors of a former Kodak building on Lake Avenue which will be the headquarters for what is called a TAP, or Testing, Assembly and Packaging facility.

pbs.org

New numbers from the New York State Labor Department show a drop in jobs and a rise in unemployment in the Rochester area.

The figures from the state show the Rochester Metro saw a loss of 1,300 private sector jobs in August compared to a year ago. This area was one of only two metros in the state to see a drop in private sector jobs, Buffalo was the other, with a loss of 100 jobs.

State labor analyst Tammy Marino believes the method used to determine job growth has been undercounting the number of jobs being created.

Making the case for performing arts center at Parcel 5

Sep 19, 2017

Those behind a proposal to put a performing arts center and residential tower at Parcel 5 say it will be an economic engine for downtown.

"Years ago in Rochester, we built Midtown, and that changed for many years how people perceived downtown.  This is the next step and it's going to reinvigorate downtown Rochester,"

said Arnie Rothschild, Board Chair and CEO with the Rochester Broadway Theatre League. 

He and Morgan Communities CEO Bob Morgan outlined their plan for a new theater and residential tower at today's Rochester Rotary Club Luncheon.

Genesee Brewery's "Tap It Forward" Day

Sep 8, 2017
Alex Crichton

The Genesee Brewery is putting the spotlight on beautifying neighborhoods, while also showcasing New York State's breweries and the beer industry.

It's all part of "Tap It Forward" Day, now in its second year.

Around 300 Genesee employees took the day off  on Friday from making beer to go to north side neighborhoods to plant trees, remove trash and debris and take part in beautification projects.

(WXXI News & AP) Amazon, bursting out of its Seattle headquarters, is hunting for a second home. Must haves: A prime location, close to transit, with plenty of space to grow. 

The company said Thursday that it will spend more than $5 billion to build another headquarters in North America to house as many as 50,000 employees. It plans to stay in its sprawling Seattle headquarters and the new space will be ``a full equal'' of its current home, said founder and CEO Jeff Bezos. 

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