Economy

Economy
12:53 pm
Fri October 24, 2014

Mixed Picture For Local Home Sales

New numbers out from the Greater Rochester Association of Realtors show that sales of existing homes were up sharply in the third quarter compared to the second quarter, but down compared to last year at this time.

Sales were up nearly 16 percent from the second quarter, but down six percent compared to the same quarter last year.

The  president of the association, Andy Burke, says that one factor impacting sales is a relatively low inventory of existing homes. He also says that homeowners are staying in their homes longer.

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Economy
3:34 pm
Wed October 22, 2014

Local High Tech Company Adding Up To 25 Jobs

A local high tech company is getting a $450,000 federal grant to develop and commercialize an innovative method of producing solar power cells.

Intrinsiq Materials, which is based at the Eastman Business Park, will be working with RIT and SUNY to come up with solar cells that can be produced less expensively and also that are manufactured with a more environmentally-friendly process.

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Economy
10:32 am
Wed October 22, 2014

Verizon Wireless Hiring More Than 200 In Henrietta

Verizon Wireless is hiring again to fill positions at its call center in Henrietta. The company says it expects to fill more than 200 jobs over the next several months. 75 of those positions will be filled by the end of the year.

Currently the local call center employs about 1300 people.

The company has already hired more than 300 people this year. The Henrietta call center is one of about 20 call centers for Verizon Wireless across the country, and each one handles calls from all over the nation.

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Economy
8:06 am
Wed October 22, 2014

Xerox Beats Earnings Expectations; Sales Down Slightly

Credit Xerox

Xerox is reporting 3rd quarter numbers Wednesday that saw better than expected profits, while sales were a bit less than analysts anticipated.

This has been an ongoing story for Xerox, with profits coming in a little ahead of Wall Street expectations, and sales generally flat or down slightly overall. The company earned $266 million in the quarter, down $20 million from last year.

Earnings per share of  27 cents beat estimates by a penny. Revenues of  $5.1 billion were down two percent.

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Economy
5:25 pm
Tue October 21, 2014

Local Spin-off Company To Add 132 Jobs

A company which is a spin-off from the University of Rochester Medical Center is expanding operations and will add 132 jobs in the process.  

That according to Governor Cuomo who says that PharmAdva is one of 17 businesses recently added to the new  START-UP NY program.  That's an iniatiative where new and expanding businesses can locate on land owned by a college and get a tax break.

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Economy
2:52 pm
Mon October 20, 2014

Dedication Ceremonies for New Downtown Bus Station

Interior of the new transit center
Credit Alex Crichton

Federal, state and local officials gathered Monday for dedication ceremonies for Rochester's new 50-million dollar downtown transit center.

The center officially opens November 28th, and CEO Bill Carpenter calls it a "game changer," and the completion of the facility marks the transition from an outdated public transit model and routing system to one that is highly efficient.

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Economy
9:31 am
Fri October 17, 2014

First Niagara To Consolidate Some Branches

First Niagara Financial Group says it is consolidating 17 branches and two off premise drive-thru locations across its four-state footprint.

The only Rochester area branch is the one located at HSBC Plaza downtown. That branch will close, and will be consolidated into a First Niagara bank located at 19 West Main Street.

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Economy
7:29 am
Fri October 17, 2014

College Town Dedication

Credit collegetown.com

Sen. Charles Schumer and other local officials will be at the ceremonial dedication of the $100 million College Town project in the Mt. Hope Avenue area.

That project involves new apartments, office space and retail shops in that corridor and Schumer says it will be a major force in helping to revitalize that area.

The dedication also includes a grand opening for the new Barnes & Noble store; other retail stores are expected to open over the next several months.

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Economy
3:57 pm
Thu October 16, 2014

Wegmans To Offer The Apple Pay System

Wegmans says  that it will be one of the first supermarkets in the country where customers can check out using Apple Pay, a new service which allows users to make purchases from their smartphone or other device through apps for online shopping. 

The company says that when you add a credit or debit card with Apple Pay, the actual card numbers are not stored on the device or on Apple servers.

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Economy
2:17 pm
Thu October 16, 2014

The Rochester Region Sees Modest Job Gains In September

Credit PBS.org

The Rochester area saw a gain of 900 private sector jobs in September over this time last year.

That's according to the latest numbers from the State Labor Department. Analyst Tammy Marino says that's not as large as the gains we've seen in recent months, but it does continue a positive trend.

"That's a very modest gain, however, the monthly estimates do tend to be somewhat volatile and they are subject to large swings. Hiring has remained fairly strong, so far this year."

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