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Economy

Economy and Business news

rochesterworks.org

RochesterWorks! is bringing its employment and job training initiatives to the Monroe County Correctional Facility.

Thanks to a $500,000 federal grant from the U.S. Department of Labor, RochesterWorks! Reentry Connections will open an American Job Center affiliate at the jail.

RochesterWorks!, an employment and training initiative, also runs two career centers on North Goodman Street and Waring Road in Rochester.

What's brewing at Genesee?

Feb 16, 2017

Walmart is being accused of selling phony craft beer in its stores.

A lawsuit alleges the company is deceiving customers by selling four craft beers that don't meet the standards for craft beers as listed by the Brewers Association.

Breaking news and beer reporter for the Democrat and Chronicle, Will Cleveland, says Walmart is reportedly making the beer in collaboration with a company called Trouble Brewing.

But that company doesn't exist -- it's a brand owned by WX Brands, and their corporate address is 445 St. Paul Street -- the same as the Genesee Brewery.

npr.org

WASHINGTON (AP) Manufacturing in New York state expanded at the fastest pace in more than two years as factories received more new orders and stepped up hiring. 

The Federal Reserve Bank of New York said Wednesday that its Empire State manufacturing index in February rose to 18.7 from 6.5, reaching the highest level since 2014. Any reading above zero indicates expansion. 

SCHENECTADY, N.Y. (AP)  A new casino has opened in upstate New York for the second time in a week. 

Democratic Gov. Andrew Cuomo joined other state officials and local leaders at Rivers Casino and Resort in Schenectady for Wednesday's opening. The Las Vegas-style casino is one of four that was authorized by state regulators after voters approved an amendment to New York's constitution expanding gambling. 

The del Lago Resort & Casino in the town of Tyre in the Finger Lakes region opened last week. 

www.kodak.com

(AP) Kodak says some of Hollywood is still hanging on to film, pointing to 29 Academy Award nominations for movies captured on its 35 mm and 16 mm Motion Picture Film stock as proof of its success.

Kodak says "La La Land," ''Fences," ''Hidden Figures," ''Jackie," ''Nocturnal Animals," ''Loving," ''Silence," ''Suicide Squad," and "Hail Caesar!" are among movies whose producers have bucked the digital cinematography trend.

Kodak is the last big supplier of motion picture film. Competitor Fujifilm stopped its production in 2013.

Siena Research Institute

A new survey from Siena College shows that across Upstate New York, the confidence of CEOs is up. 

The confidence of those business executives was up nine points for private, for-profit companies, with more optimism than pessimism among the leaders.

The local realtors association says it saw a solid year of home sales last year, in the latest numbers just released on Thursday.  The main issue is still  the availability of existing homes on the market.

The number of homes sold in the Rochester market was up nearly eight percent last year compared to the year before. And if you take into account the Finger Lakes and Southern Tier regions as well, sales were up more than 19 percent.

npr.org

The latest numbers on job growth from the New York State Department of Labor show an increase in jobs in the Rochester area. Officials say the Rochester area saw an increase of 4,200 private sector jobs in December compared to the previous year.

Overall for 2016, state labor analyst Tammy Marino says it was a pretty good year for job seekers.

PBS.org

A new report on the Rochester area commercial real estate market shows some positive signs for the local economy.

The annual report from the Rochester division of CBRE, a global realty company, says that vacancy rates for commercial buildings both downtown and in the suburbs have been decreasing.

Changing the face of public housing

Jan 17, 2017
rochesterhousing.org

The Rochester Housing Authority wants to change the face of public housing.

RHA officials cut the ribbon today on a new building on Garson Avenue that houses four units.

Executive Director for RHA, John Hill, says they remodeled the entire interior and also made improvements to the exterior to make this public housing property look like any other attractive home in the neighborhood.

He says that's one way to improve the quality of life for residents who live there.

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