Economy

Economy
10:33 am
Tue March 18, 2014

Verizon Wireless Hiring 280 People In Rochester

Verizon Wireless says it's hiring a total of 280 people in the Rochester area. 260 are at the Customer Service center in Henrietta, the rest are at retail stores in the area.

Verizon spokesman John O'Malley says the slots are opening up partly because of normal attrition as some people are promoted from within the organization and others leave for various reasons, but it's also because of the growing business and the need to add people in the call centers.

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Economy
5:36 pm
Mon March 17, 2014

Paychex To Start New Small Business Index

A local payroll company is getting ready to come out with a regular report on how small businesses around the U.S.  are doing. It could provide another window into the state of the nation's economy.

Paychex officials often get asked about how the economy is doing because they do payroll work for so many small and medium sized businesses. So now, they are formalizing the process, and the Rochester area company is launching a new index examining the state of small business employment.

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Economy
2:05 pm
Mon March 17, 2014

CityGate Moving Forward

Developer Anthony Costello along with renderings of project
Alex Crichton wxxi

Demolition began Monday on an old children's detention center to make way for retailer Costco to bring its first store to Western New York.

Representatives from the city, state and county, and the developer were on hand for the announcement.

The project had stalled, but county lawmakers last month authorized the capital budget for the project, which included a state-approved plan to move the children in the detention center to a location in Rush.

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Economy
8:56 am
Wed March 12, 2014

Kodak Names New CEO

Eastman Kodak has a new CEO. The company announced today that Jeffrey Clarke has been named Chief Executive Officer and a member of Kodak's Board of Directors.

Prior to joining Kodak, Clarke was a managing partner of Augusta Columbia Capital, which is a private management firm focused on middle market technology that he co-founded.  Before that, he was CEO and Chairman of Travelport, a private technology firm. He will also remain chairman of Orbitz, the online travel agency.

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Economy
5:08 pm
Tue March 11, 2014

Survey Shows Hiring Expected To Increase In The Second Quarter

A new survey from the employment agency Manpower shows that employers in the Rochester area expect to hire at a solid pace in the second quarter.

The survey shows that from April to June, 19 percent of the companies interviewed plan to hire more workers compared to 16 percent in the first quarter, and 14 percent at this time a year ago. The survey shows that about four percent expect to reduce staff in the second quarter, while the majority, about 74 percent, plan to keep their workforce at the current levels.

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Economy
1:31 pm
Tue March 11, 2014

Rochester Area Unemployment Rate Drops From A Year Ago

Credit Google Images

The unemployment numbers for January have just been released, and one analyst says there is some cause for optimism when you look at the figures for the Rochester metropolitan area.

The unemployment rate for the Rochester area was 7 percent in January. That was up from 6.1 percent in December, but lower than the 8.7 percent rate of a year ago.

Overall, NYS Labor Analyst Tammy Marino says things are moving in the right direction. She says January tends to be this area's highest unemployment rate of the year, due to seasonal factors, but the numbers should improve soon.

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Economy
11:28 am
Tue March 11, 2014

Housing Costs Consume More Monthly Income

Credit www.therealdeal.com

It's becoming more costly to maintain a home in New York State, for both renters and homeowners.

That's according to a report issued by the State Comptroller. 

In Monroe County, 54 percent of renters and 25 percent of homeowners had monthly housing costs that consumed more than 30 percent of their income in 2012.

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Economy
8:30 am
Mon March 10, 2014

Changes For The Frontier White Pages Directory

Frontier telephone directories are in the process of being distributed now, but if you still use those hard copies of the  phone book, you may notice a fairly significant change this year.

The change is that the Frontier White Pages may seem quite a bit thinner than usual. That has been a trend in recent years, partly due to the fact that a number of phone customers have moved away from landlines to cell phone use only, but there’s another factor at play with the latest books. They don’t include the residential listings of Time Warner phone customers.

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Economy
1:03 pm
Thu March 6, 2014

A Modest Increase In Jobs In January In The Rochester Area

Credit PBS.org

The latest report out from the NYS Labor Department shows some increase in employment in the Rochester area.

This region saw an increase of 1900 private sector jobs compared to January of a year ago.

State Labor Analyst Tammy Marino says that may not sound like a large number, but lately, job growth has been pretty steady.

"Over the past 12 months we've seen some very modest job growth but we've also seen very consistent job growth over the past three years, so we certainly expect that to continue in the coming months."

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Economy
4:59 pm
Wed March 5, 2014

$500,000 in Microloans Announced for Rochester Entrepreneurs

Mayor Lovely Warren speaks at a press conference announcing $500,000 in micro loans for Rochester small businesses.
Credit Michelle Faust

Area start-ups will soon have a new source of loan funding.  Wednesday, First Niagara Bank, Pathstone, and the City of Rochester jointly announced a new $500,000 "microlending" program for small businesses.

Rochester entrepreneurs will be able to apply for loans up to $25,000 at a time to create or grow their business.

Stuart Mitchell is president of the community development organization, Pathstone. He says the non-profit will work with emerging entrepreneurs to help them develop their business ideas and create a repayment plan.

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