New York's unemployment rate went down in July; Syracuse added jobs

Latest data shows $340-million invested in Syracuse's growing economy

The most recent data from the Downtown Committee shows Syracuse’s economy is growing with $340 million in new developments underway – 46 percent residential and 34 percent infrastructure.

Report: CNY job gains, losses mixed in the last year

The Syracuse region gained 3,000 total jobs between May 2014 and this past May, an increase of 0.9 percent.

Schumer: Germany selects MEADS, Lockheed Martin for $4.5B missile defense deal

Germany has selected MEADS as its future missile defense system in a deal worth up to $4.5 billion that is expected to provided a boost to Lockheed Martin and its plant in suburban Syracuse, U.S. Sen. Charles Schumer said Monday.

Craft beverage industry continues to help boost upstate economy

The craft beverage industry is revitalizing the upstate economy with billions in revenue and tens of thousands of jobs. The nonprofit Syracuse First held its New Economy Summit this week to discuss improving the region's service and craft beverage industry.

Seventy new breweries were created in New York state between 2013 and 2014, adding an additional billion dollars in economic impact. There are 83 farm breweries in the state which received help in getting licenses, thanks to legislation that requires 20 percent of hops and 20 percent of all other ingredients to be grown or produced in New York state.    

Fitch Rates Syracuse, NY's GOs 'A'; Outlook Stable

Top 5 U.S. cities luring service jobs back home

Large companies like Verizon (VZ) are involved in a growing trend to bring at least some portion of their global business services back to the U.S. The reason: American cities are becoming lower-cost places to do business, at least for certain types of services. These are among the findings of a new report from strategy and operations consultancy Hackett Group, which ranked American cities accoriding to their attractiveness to companies.

Here are the top five domestic locations:

• Syracuse, N.Y.
• Jacksonville, Florida
• Tampa, Florida
• Lansing, Michigan
• Grand Rapids, Michigan

Syracuse, New York bouncing back

Upstate Syracuse is emerging as the new Bangalore for corporate America looking to bring operations back home.

Home to an industrial wasteland and low-wage economy, Syracuse’s plight may be the catalyst for its economic future, analysts say.

New research from the Hackett Group has catapulted Syracuse — population 145,000, approximately, nearly 2 percent lower than in 2000 — to No. 1 among midsize US cities that are becoming alluring alternatives to India and other offshore destinations.

Empire State Development Announces First START-UP NY Company In Central NY Breaks Ground

Empire State Development today joined with Empire Brewing Company, a START-UP NY participant sponsored by SUNY Morrisville, to break ground on the Empire Farmstead Brewery – a new manufacturing and agri-tourism facility in Cazenovia, Madison County.

Syracuse University serves as economic anchor for Central New York

For many post-industrial cities such as Syracuse, economies are no longer centered on making and manufacturing.

Universities and health care institutions – or “eds and meds” – are now at the center of inner city income generators. These anchor institutions, such as Syracuse University and the Upstate University Health System, are major stakeholders in the future of the cities they sit in.

“Gone are the days where local economies are centered on downtown main streets, for better or for worse,” said Liz Holden, a research and communications associate at the Initiative for a Competitive Inner City, an economic research organization. “Universities and hospitals were really the ones who lasted.”