COMING UP TONIGHT-- A 70 YEAR OLD COMPANY BREAKS GROUND ON A 10 MILLION DOLLAR EXPANSION, SOME TIPS FOR THOSE OF YOU CONSIDERING STARTING YOUR OWN BUSINESS AND AN INSIDE LOOK AT THE SYRACUSE HANCOCK AIRPORT - THERE'S MORE HAPPENING THERE THAN YOU MAY THINK.

ON THE MONEY "TAKES OFF" RIGHT NOW GOOD EVENING AND WELCOME TO ON THE MONEY, WCNY'S NEW FINANCIAL AND ECONOMIC DEVELOPMENT PROGRAM - THINK OF IT AS YOUR LOCAL FINANCIAL NEWS PROGRAM FEATURING SOME INTERESTING PEOPLE, BUSINESSES AND HAPPENINGS FROM EVERY CORNER OF CENTRAL NEW YORK.

I'M DANIEL PLUFF.

DURING OUR SEASON WE'LL SEE WHERE MONEY IS BEING MADE, SPENT AND LOST AND FOCUS ON PROJECTS AND ACTIVITIES AFFECTING US LOCALLY.

OUR FIRST REPORT HIGHLIGHTS A 70 YEAR OLD EQUIPMENT COMPANY.

FELDMEIER EQUIPMENT HAS BEEN A STAPLE IN THE CENTRAL NEW YORK COMMUNITY SINCE 1952 BY PROVIDING STAINLESS STEEL PROCESSING EQUIPMENT TO SOME OF THE MOST ELITE COMPANIES WORLDWIDE -- FROM THE PHARMACEUTICAL INDUSTRY TO FOOD AND BEVERAGE PROCESSING FACILITIES.

THE COMPANY RECENTLY BROKE GROUND ON AN APPROXIMATELY $10 MILLION BUILDING EXPANSION IN LITTLE FALLS -- A CITY LOCATED WITHIN THE MOHAWK VALLEY.

DISCOVER HOW THIS EXPANSION WILL HELP BRING IN MORE JOBS AND KEEP MANUFACTURING ALIVE FOR YEARS TO COME.

>> FELDMEIER EQUIPMENT IS THE LARGEST MANUFACTURER OF SANITARY VESSELS AND MIXERS IN NORTH AMERICA.

WE ARE AN INDUSTRY LEADER AND WE ARE PROUD OF THAT.

OUR CUSTOMERS ARE MAJOR PHARMACEUTICAL, FOOD, BEVERAGE AND DAIRY MANUFACTURERS.

WE HAVE SEVEN MANUFACTURING PLANTS ACROSS THE COUNTRY.

THE MRNGHT OF MAJORITY OF OUR PRODUCTS ARE SOLD IN THE UNITED STATES BUT BECAUSE OF THE SIZE OF THE EQUIPMENT WE BUILD, FREIGHT AT TIMES BECOMES PROHIBITIVE.

EVERYTHING WE MANUFACTURE IS CUSTOM DELIVERED FOR THE CUSTOMER.

SO WITH THAT, THERE IS A FAIR AMOUNT OF ENGINEERING THAT GOES ON.

WE'VE GOT 2 ENGINEERS ON SAF-- 23 ENGINEERS ON STAFF ALONG WITH A MANAGEMENT TEAM AND THEY DRIVE WHAT WE DO.

THE COMPANY WAS FOUNDED IN 1952 BY Mr. AND Mrs. FELDMEIER.

Mr. AND Mrs. FELDMEIER'S ROOTS COME FROM LITTLE FALLS, ACTUALLY, Mr. FELDMEIER, OUR FOUNDER'S FATHER, WAS THE ENGINEER IN ONE OF THE MAJOR MANUFACTURING PLANTS IN LITTLE FALLS THAT HIS SON ENDED UP GOING BACK AND BOUGHT A COMPANY CALLED CHERRY BURRELL.

SO THE ROOTS OF FELDMEIER GO DEEP AND THERE IS A LOT OF LOYALTY IN FELDMEIER.

IT'S A GREAT WORKFORCE, HARD WORKING AND WE WOULDN'T BE WHERE WE ARE TODAY WITHOUT LITTLE FALLS AND THE PEOPLE THAT ARE THERE.

WITH FELDMEIER'S NEW EXPANSION, WHAT IT TRULY DID WAS HELP KEEP THE COMPANY HERE.

HELP KEEP THE PEOPLE EMPLOYED, BRING THE TECHNOLOGY UP TO ANOTHER LEVEL THAT ALLOWS THEM TO PRODUCE MORE PRODUCT AND KEEPS THE FACILITY AND THE COMPANY STABLE.

THEY RECEIVED OUR STANDARD PILOT, WHICH WAS A 10-YEAR STARTING AT 50% ASSESSMENT OF THEIR TAXES.

SO WHEN YOU LOOK AT THAT, WE ONLY DID IT ON THE ADDITION, NOT ON THE CURRENT STRUCTURE, SO THAT WORKED OUT WELL FOR EVERYONE.

WE ALSO GAVE THEM A MORTGAGE RECORDING TAX WAVE THAT IS STANDARD AND SALES TAX ABATEMENT.

ANY SALES TAX THEY WOULD HAVE HAD TO PAY ON THE CONSTRUCTION OR EQUIPMENT OR ANYTHING THEY NEEDED, THEY WOULD BE ABATED ON THAT SALES TAX.

IT WAS PRETTY MUCH A STANDARD AGREEMENT, BUT WE MADE IT QUICKLY FOR THEM.

WE WORK CLOSELY WITH THEM.

WE SEE ALL THE PROJECTS OUT THERE THAT THEY DO.

WE HAVE A BIG DAIRY PRESENCE IN THE COUNTY.

THEY DO A LOT OF TANKS FOR DAIRY PROCESSING.

COFFEE, DISTILLERIES, PHARMACEUTICALS, SO WE ARE HAPPY TO HAVE A HIGH TECH MANUFACTURER HERE IN THE COUNTY AND THEY HAVE BEEN HERE A LONG TIME.

AND WE'LL CONTINUE TO SUPPORT THEM ANY WAY THAT WE CAN.

>> I TRULY BELIEVE THEY STAYED BECAUSE OF THE WORKFORCE.

THEY HAVE DEDICATE THE WORKERS DOWN THERE.

THEY HAVE GENERATIONAL WORKERS AS WELL.

FATHERS, SONS, GRANDFATHERS, UNCLES, COUSINS.

I THINK IT WAS IMPORTANT FELDMEIER STAYED HERE TO HELP CONTINUE THE GOOD QUALITY PRODUCT THEY WERE GETTING AS WELL AS CONTINUE THAT GROWTH IN THE FUTURE.

AND EVERYBODY UNDERSTANDS THE PROCESS ON HOW THEY GET THE TANKS OUT OF THERE.

THEY'RE CLOSE TO THE NEW YORK STATE THRU-WAY, THEY'RE ON THE CANAL, WHICH WE LOVE TO SEE THEM UTILIZE THE CANAL FOR SHIPPING.

WE JUST SEE THAT THAT PRODUCT HAS A GOOD FIT INTO THE INDUSTRIAL BACKGROUND OF HERKIMER COUNTY.

>> IN SPITE OF A PANDEMIC, WE ARE HAVING THE LARGEST REVENUE YEAR IN OUR COMPANY HISTORY, WHICH IS GREAT.

WE ARE OUT THERE TAKING CARE OF THE MAJORITY OF THE FORTUNE 500 COMPANIES THAT HAVE ANYTHING TO DO WITH FOOD, BEVERAGE, DAIRY AND PHARMACEUTICAL.

IT'S AN EXCITING TIME FOR US AND GROWTH WILL CONTINUE.

>> THERE ARE NOT MANY MANUFACTURERS LEFT.

WE HAVE HAD OPPORTUNITIES.

WE COULD MOVE TO TEXAS.

WE COULD MOVE TO THE SUNSHINE, BUT LITTLE FALLS GOT US HERE AND WE ARE NOT GOING TO FORGET THEM.

>> SOME INTERESTING NEWS FROM FELDMEIER EQUIPMENT.

GLAD TO HAVE THEM ON THE PROGRAM.

NOW WE TAKE A MOMENT TO TALK COMMON SENSE AND TO HELP US WITH THAT, JON VERBECK JOINS US WITH VERBECK ASSOCIATES.

I WOULD DESCRIBE YOU AS A VIRTUAL CFO DOING CFO SERVICES FOR COMPANIES, CORRECT?

>> ABSOLUTELY CORRECT, DAN.

>> ONE THING I'VE READ MORE THAN ONE REPORT, IS THAT THERE HAS BEEN A HIGHER NUMBER OF PEOPLE THAT HAVE LEFT THE WORKFORCE, MANY OF WHICH HAVE STARTED THEIR OWN BUSINESS, WANTED TO REALIZE THE DREAM THEY'VE HAD OVER THE YEARS.

WHAT IMPORTANT ADVICE WOULD YOU GIVE THEM AT THIS POINT?

>> ABSOLUTELY.

LOOK, STARTING A BUSINESS IS NOT EASY.

IT TAKES 10 TIMES MORE EFFORT THAN YOU REALLY THINK.

FOUR BASIC POINTS I WOULD GIVE, HAVE A MONTHLY FORECAST AND BUDGET AND COMPARE TO ACTUAL ON A MONTHLY BASIS.

HAVE A WEEKLY SCORE CARD.

TRACK KEY NUMBERS WEEKLY OR DAILY.

I REALLY LOOK AT YOUR NUMBERS.

I KNOW A LOT OF PEOPLE SAY I'M NOT AN ACCOUNTANT, ENTREPRENEURS DO, BUT THEY NEED TO DEDICATE A PORTION OF THEIR TIME TO BE A CFO.

SO LOOK AT YOUR NUMBERS WEEKLY.

CLOSE YOUR-- LOOK AT YOUR FINANCIAL STATEMENTS AND YOUR BOOKS AND RECORDS.

NO ONE LIKES TO UPDATE THE QUICK BOOKS BUT IT'S IMPORTANT TO KEEP YOUR BOOKS AND RECORDS UP TO DATE CONSISTENTLY THROUGH THE MONTH AND HAVE A SOLID CLOSE PROCESS.

FINALLY THE LAST POINT IS FROM A TAX PERSPECTIVE, SET UP A SEPARATE TAX SAVINGS ACCOUNT AND PUT 25 TO 30% OF ALL REVENUE THAT COMES IN INTO THAT ACCOUNT, THEREFORE WHEN TAX TIME COMES, YOU HAVE THE MONEY SET ASIDE FOR IT AND IT'S NOT A SURPRISE.

I'VE SEEN IT MANY TIMES THAT COME TAX TIME, PEOPLE DON'T HAVE THE CASH TO PUT ASIDE AND THE I.R.S.

DOESN'T MESS AROUND WITH THAT.

THEY REALLY TAKE THAT SERIOUSLY.

>> I'M SURE THEY DON'T.

A LOT OF IT IS WATCHING THE NUMBERS IS WHAT I'M GETTING FROM YOU.

THANK YOU VERY MUCH.

WE'LL HAVE YOU BACK AND TALK ABOUT BUSINESS OWNERS.

JON VERBECK WITH VERBECK ASSOCIATES.

>> THANKS FOR HAVING ME ON UP NEXT, OUR SEGMENT WE CALL TECH BYTES WHERE WE FEATURE NEW TECHNOLOGIES BEING DEVELOPED OR USED HERE IN CENTRAL NEW YORK.

WITH ALL KINDS OF DRONES FLYING AROUND NOWADAYS, RADAR SYSTEMS CAN'T SEE ALL OF THEM.

HIDDEN LEVEL, A SYRACUSE STARTUP HAS CREATED A SYSTEM BY USING SENSORS THAT CAN DETECT LOW-FLYING DRONES.

WHILE PROVIDING SOLUTIONS IN THE SKY, HIDDEN LEVEL IS ALSO HARD AT WORK AT CREATING JOBS AND BUILDING A STRONG VENTURE CAPITAL ECOSYSTEM.

I'M THE CFO AND CO-FOUNDER OF HID ESPECIALLY LEVEL.

WE HAVE ASSEMBLED A TALENTED GROUP AND WE HAVE BEEN VERY LUCKY SO FAR.

OUR MAIN FOCUS IS OUR AIR SPACE MONITORING SERVICE, WHICH IS BASICALLY LIKE THE HIGHWAYS IN THE SKY, BEING ABLE TO PROVIDE LOW ALTITUDE AIR SPACE SURVEILLANCE FOR THE PURPOSES OF SECURITY AND INTEGRATION OF DRONES IN URBAN AIR MOBILITY CRAFT INTO THE AIR SPACE.

AS THE AIR SPACE IS BECOMING MORE COMPLEX, THE POINT ISN'T TO IDENTIFY THE INDIVIDUAL BY NAME OR ANYTHING LIKE THAT.

BUT THE WAY OUR SYSTEM WORKS, IT SEES PRETTY MUCH FROM THE GROUND UP TO TENS OF THOUSANDS OF FEET.

AND ONE OF OUR PARTNERS, THE OPERATIONS ARE PROBABLY GOING TO OPERATE FROM GROUND TO ABOUT 2500 OR 3,000 FEET ABOVE THE GROUND.

AS FAR AS COMPETITORS GO, REALLY HIDDEN LEVEL STANDS ON ITS OWN IN WHAT WE DO.

THERE ARE A LOT OF COMPANIES OUT THERE THAT DO DRONE DETECTION.

MOST WERE POINT-BASED SOLUTIONS.

SOMETHING THAT YOU MIGHT PUT AROUND A PRISON OR A STADIUM FOR THAT PARTICULAR APPLICATION.

WE BLANKET ENTIRE CITIES.

THE TECHNOLOGY WE HAVE BROUGHT TO MARKET IS VERY DIFFERENT THAN ANYTHING ELSE.

IT ALLOWS US TO PROVIDE THAT LEVEL OF PERFORMANCE UNLIKE ANYTHING.

IF YOU OPENED UP LIKE GOOGLE MAPS ON YOUR PHONE AND YOU WANTED TO SEE WHERE ALL THE TRAFFIC WAS, THAT'S WHAT WE ARE DOING IN THE AIR.

IF YOU ARE THE F.A.A., YOU ARE USING THAT TO SAFELY NAVIGATE PLANES AROUND THAT.

IF YOU ARE A DRONE DELIVERY COMPANY, YOU ARE USING IT TO MAINTAIN AND MANAGE YOUR CRAFT IS WHERE IT SAYS IT IS AND IF YOU ARE A SECURITY USER, YOU ARE MAKING SURE PEOPLE ARE NOT VIOLATING SAFETY.

HIDDEN LEVEL IS A VENTURE BACK START-UP AND THAT'S FROM THE LENGTHS OF TRADITIONAL VENTURE CAPITAL, THEY'RE ALL OVER THE COUNTRY.

THEN THERE ARE STRATEGICS, LIKE LOCKHEED MARTIN IS ONE OF OUR INVESTORS, JET BLUE, AIRBUS, OTHERS LIKE THAT.

A LOT OF PEOPLE INVESTING OVERALL IN THIS MARKET SECTOR.

HOW MUCH HAVE WE RAIDS-- RAISED AS HIDDEN LEVEL?

20 MILLION.

THAT'S GOING THROUGH AN ANGEL ROUND, SEED ROUND AND OUR MOST RECENT SERIES.

THE MONEY WE RAISE GOES TO FACILITIESES, HIRING STAFF.

WE STARTED THE COMPANY WITH A HANDFUL AND NOW WE HAVE 44 PEOPLE.

MAJORITY OF US ARE LOCATED HERE IN SYRACUSE.

>> MOSTLY DEVELOPMENT HAPPENING HERE, OUR LAB IS HERE, OUR PRODUCTION IS HERE AND EVERYTHING THAT THE TESTING AND EVERYTHING THAT WE DO, WE DO RIGHT HERE IN CENTRAL NEW YORK.

>> COUNTDOWN FROM THREE.

READY?

3, 2, 1.

[ APPLAUSE ] >> WE PICKED THIS AREA BECAUSE WE REALLY WANTED TO BE DOWNTOWN AND IT WAS DIFFICULT.

IT'S DIFFICULT TO BE DOWNTOWN AND HAVE MATERIALS COMING IN.

THIS LOCATION IS PERFECT IN A LOT OF WAYS.

IT'S UP AND COMING.

THERE ARE A LOT MORE THINGS THAT ARE DEVELOPING HERE.

BUT THE LOCATION IS GREAT BECAUSE WE CAN GET ON THE HIGHWAY IN ANY DIRECTION SO WE CAN GET MATERIAL IN VERY EASILY.

WE ARE IN THE CITY BECAUSE WE WANT TO BE IN THE CITY.

WE WANT TO MAKE A POSITIVE IMPACT IN THE CITY AND WE WANT TO GROW IN THE CITY AS BEST WE CAN.

THAT'S WHAT WE ARE TRYING TO DO.

>> ON THE HEELS OF TAX SEASON, CONTRIBUTION LEVELS THAT YOU CAN MAKE INTO YOUR RETIREMENT ACCOUNTS FOR 2022.

FOR EXAMPLE, IN AN I.R.A.

OR A ROTH, THE MAXIMUM AMOUNT YOU CAN PUT IN THIS YEAR IS $6,000.

FOR THOSE OF YOU, INCLUDING ME, OVER 50, WELL THAT CATCHUP PROVISION BOUNCES THAT UP TO $7,000.

SO $7,000 MAX OF I.R.A.

AND ROTH.

FOR 401 K AND 403B, MAXIMUM AMOUNT THAT CAN GO IN IS 20,500 BUT AGAIN FOR 50 AND ABOVE, 27,000 IS THE BUMP UP PROVISION.

ONE THING TO MAKE NOTE OF, ON I.R.A.

AND ROTHS IN PARTICULAR, YOU MUST HAVE EARNED INCOME TO CONTRIBUTE.

IF YOU HAVE ONLY MADE $5,000 IN A GIVEN YEAR, MAYBE A SUMMER JOB OR WHAT NOT, YOU WOULD NOT BE ELIGIBLE FOR THE MAXIMUM AMOUNT.

ONLY WHAT YOU EARNED.

JUST SOME NUMBERS TO BE AWARE OF AS YOU LOOK AT YOUR RETIREMENT PLANNING.

HIDDEN LEVEL IS ANOTHER EXAMPLE OF SOME OF THE NEW TECHNOLOGY WE'RE SEEING BEING DEVELOPED RIGHT HERE - AND IF YOU HAVE AN INTERESTING TOPIC FOR OUR TECH BYTE SERIES, JUST LET US KNOW.

WE'LL TELL YOU HOW IN A MOMENT.

MEANTIME, WE CLOSE OUR PROGRAM WITH OUR SPOTLIGHT SERIES- AND TONIGHT WE PASS STRAIGHT THROUGH THE TSA LINES AT THE SYRACUSE REGIONAL AIRPORT AUTHORITY - WHAT YOU AND I KNOW AS HANCOCK AIRPORT.

BUT IT'S MORE THAN A NAME CHANGE- THE FACILITY IS BEING RUN MORE LIKE A BUSINESS NOW WITH A NEW LOOK, STRONG MANAGEMENT AND MORE AIRLINES WITH MORE FLIGHT OPTIONS.

WE RECENTLY MET- WITH FULL COVID PROTOCALLS- WITH JASON TERRERI, EXECUTIVE DIRECTOR OF THE AIRPORT AUTHORITY, AND AS YOU'LL SEE, THERE'S STILL MORE TO COME.

>> ON A-- I'M A LOCAL GUY, LIVED HERE ALL MY LIFE, FLOWN OUT OF HERE A NUMBER OF TIMES.

I DON'T THINK THE AIRPORT HAS EVER LOOKED BETTER.

THE UPGRADES THAT HAVE GONE ON THE LAST COUPLE OF YEARS IS LOOKING PRETTY GOOD.

THERE IS MORE TO COME?

>> YEAH, WE ARE THE FIRST ROUND TERMINAL IMPROVEMENTS WERE COMPLETED IN 2017.

AND SO WE'VE GOT A COUPLE OF THINGS THAT ARE GOING ON.

THE MOST NOTABLE RIGHT NOW ARE THE UPDATES TO OUR CONCESSION PROGRAM.

THAT'S THE NEW DUNKIN' DONUTS, SERENITY BAR AND OTHERS ARE COMING WITH THE GOAL OF BRINGING LOCAL INTO THE AIRPORT AND AS FAR AS MAJOR INFRASTRUCTURE, WE ARE LOOKING TO BUILD A NEW FEDERAL INSPECTION STATION SO INTERNATIONAL FLIGHTS CAN BE PROCESSED.

WE HAVE ONE RIGHT NOW BUT WE WANT TO BRING IT UP TO STANDARD.

>> YOU SEE A LOT OF ABOUT IT BUT I BET YOU SOME OF THE CHANGES ARE BEYOND OUR LINE OF SIGHT.

STUFF GOING ON OUT HERE AND UNDER HERE.

>> ABSOLUTELY.

AIRFIELDS, THEY JUST DID A NEW OVERLAY ON THE RUNWAY, MOVED TAXI WAYS AROUND, DEICING WORK.

LOTS OF IMPROVEMENTS IN THE TERMINAL AND OUTSIDE.

>> YOU MENTIONED WHEN THINGS GOT STARTED PRE-COVID, MAYBE A SLOWDOWN THERE BUT IT JUST STRIKES ME AS YOU LOOK AROUND, IT COSTS A LOT OF MONEY.

WHERE DO THE FUNDS COME FROM TO MAKE THESE IMPROVEMENTS?

>> A COUPLE SOURCES.

ONE OF THE MOST IMPORTANT THINGS TO NOTE WHAT IS MOST PEOPLE DON'T REALIZE IS THAT AIRPORTS ARE NOT SUPPORTED BY LOCAL TAX DOLLARS.

EVERYTHING THAT IS DONE HERE IS FUNDED THROUGH AIRPORT REVENUES.

ALL THE REVENUE WE MAKE OR FEDERAL GRANT PROGRAM.

THE MAJORITY OF THE AIRFIELD IS FUNDED THROUGH THE FEDERAL GRANT PROGRAM BUT THE TERMINAL, THE BIG IMPROVEMENTS YOU SAW WITH IS A GRANT PROGRAM THROUGH THE STATE AND THE OTHER IS THROUGH THE OPERATING AIRPORT FUNDS.

>> WHAT WOULD YOU SAY ARE THE BIGGEST EXPENSES OF RUNNING THIS PLACE ANNUALLY.

WHAT ARE YOUR BIGGEST COSTS?

>> THE DAY TO DAY RUNNING OF THE AIRPORT.

IN TERMS OF COST CENTERS, OBVIOUSLY WITH THE EMPLOYEE STAFF, WE HAVE A STAFF OF 120 HERE AT THE AIRPORT BUT THEN IT'S THE DAY-TO-DAY OPERATIONS.

>> THIS AIRPORT HAS ALWAYS BEEN RELATIVELY EASY TO GET IN AND OUT OF, EASY ACCESS.

THAT'S A BIG-- THAT'S AN IMPORTANT FACTOR I WOULD THINK.

>> ABSOLUTELY.

ONE OF THE ATTRACTION POINTS FOR OUR AIRPORT AND WHY WE PULL FROM SO FAR OUTSIDE OF THE SYRACUSE AREA AND THAT'S ONE OF THE THUNKS WE PROMOTE.

WE ARE CONTINUING THAT.

WE ARE ACTUALLY IN ABOUT TWO MONTHS GOING TO HAVE A BRAND NEW CHECKPOINT LANE AND THAT'S GOING TO BE A DEDICATED PRECHECK SO IT WILL BE FASTER TO GET THROUGH THE SECURITY AREA.

>> WE TALKED ABOUT EXPENSES.

WHERE DO THE REVENUES COME FROM?

I ASSUME THE AIRLINES THAT LAND HERE HAVE TO PAY SOMETHING TO BE HERE.

>> ABSOLUTELY.

>> IS THAT THE BIGGEST SOURCE OF INCOME?

>> NO.

FOR US, THE BIGGEST SOURCE OF REVENUE IS PARKING.

30% OF OUR TOTAL REVENUE... >> I'VE CONTRIBUTED TO THAT.

>> THANK YOU.

PARKING IS OUR LARGEST REVENUE SOURCE AT ABOUT 30% AND THEN OTHER-- IT'S REALLY LEASES, RATES AND CHARGES, SO THE AIRLINES DO PAY A LANDING FEE BUT THEY PAY TO RENT SPACE IN THE TERMINAL.

GATE AREAS, TICKET COUNTERS.

THE AIRPORT SITS ON 2300 ACRES OF LAND.

SO WE ACTUALLY HAVE LEASE PAYMENTS THAT COME IN SEPARATE OF THE TERMINAL.

SO AS YOU COME IN, MOHAWK GLOBAL, S SCNS.

>> THIS PLACE WAS ESSENTIALLY SHUT DOWN FOR THE END OF THE FIRST QUARTER, SECOND QUARTER OF 2020.

THAT'S A LOT OF LOST REVENUE.

>> CORRECT.

>> HOW DID YOU MAKE IT UP?

>> SO A COUPLE WAYS.

SO TO PUT IT IN PERSPECTIVE, ON A TYPICAL DAY, WE SEE ABOUT 4,000 PEOPLE THROUGH OUR CHECKPOINT HERE AND IN APRIL OF 2020, WE HAD 4,000 PEOPLE COME THROUGH THE AIRPORT IN THE ENTIRE MONTH.

SO YOU ARE RIGHT.

EMPLOYEES HAVE TO GO THROUGH THE CHECKPOINT.

YOU CAN IMAGINE, THERE WAS NOTHING GOING ON HERE.

SO OBVIOUSLY AS WE TALKED ABOUT REVENUES, THERE IS NOBODY IN OUR PARKING DECKS, NOBODY WAS EATING IN THE RESTAURANTS.

THE AIRLINES WERE NOT FLYING.

WE HAD TO MAKE IT UP.

A COUPLE SOURCES.

WE HAD A GOOD NEST EGG OF CASH ON HAND SO WE COULD USE THAT.

>> THANKFULLY.

>> THAT WAS A REAL BENEFIT FOR US.

WE RECEIVED FEDERAL FUNDS THROUGH CARES ACT AND USED THAT TO OFFSET AND SUPPLEMENT OUR OPERATIONAL LOSSES.

BUT JUST LIKE I SAID EARLIER, A THIRD OF OUR TOTAL REVENUE AT THE AIRPORT COMES FROM NON-AIRLINE-RELATED REVENUE, SO WHILE WE DO LOSE REVENUE IN THE TERMINAL, CARGO WAS UP, SO WE WERE GETTING OUR CARLG PAYMENTS, GENERAL AVIATION, PRIVATE AIRCRAFT, THOSE NUMBERS WERE UP.

>> AND SHIPPING UP ACROSS THE BOARD.

>> CORRECT.

>> SWEEPING CHANGES TOOK PLACE THROUGHOUT THE TRAVEL INDUSTRY AFTER 9/11.

AND I WONDER, YOU KNOW, FIRST OF ALL, WILL WE EVER GET OVER COVID, I DON'T KNOW AND YOU DON'T KNOW.

BUT DO YOU FORESEE ONGOING CHANGES OR NEW PROTOCOLS THAT WILL STAY WITH US NOW IN A POST COVID WORLD AS WE TRAVEL?

>> WE DON'T KNOW WHAT IS GOING TO HAPPEN WITH THE MASKS.

AT SOME POINT THEY'RE SAYING IT WILL GO AWAY ONCE THE PANDEMIC IS OFFICIALLY OVER.

AND AS IT KEEPS GETTING EXTENDED FEDERALLY, I CAN'T SPEAK TO THE POLICY ON THE MASKS.

AS FAR AS AN AIRPORT AS AN INDUSTRY, WHAT HAS CHANGED, I DON'T FORESEE ANYTHING MORE THAN WAS WE HAVE RIGHT NOW.

AND I THINK IT'S HELPED MOVE THE AIRLINE INDUSTRY AND AIRLINE AIRPORT INDUSTRY FORWARD, WE HAVE MOVEDDED FORWARD GOING TOUCHLESS AND THE CLEANING STANDARDS EVERYONE IS IMPLEMENTING.

I DON'T SEE TOO MUCH MORE CHANGE HAPPENING.

NOT TOO LONG AGO, THERE WAS WHAT I THINK WAS A BIG ANNOUNCEMENT.

SOUTHWEST AIR LANDING, IF YOU WILL IN SYRACUSE.

BIG NEWS?

>> HUGE NEWS.

>> TELL ME THE BENEFIT.

TELL ME HOW THAT IS GOING TO IMPACT US.

>> IT CONNECTS US TO THE BALTIMORE WASHINGTON AREA WITH THE FIRST EVER LOW COST NETWORK SERVICE FOR THIS AIRPORT.

ONE OF OUR BIGGEST HOLES IN WHAT WE CALL OUR ROUTE NETWORK WHERE PEOPLE NEED TO TRAVEL IS THE WASHINGTON BALTIMORE AREA SO THIS ALLOWS DIRECT SERVICE ON A LOW COST NETWORK INTO BALTIMORE BUT THE WAY THE FLIGHTS ARE TIMED, IT CONNECTS INTO THE REST OF THE SOUTHWEST NETWORK AND OPENED UP NEW TRAVEL OPPORTUNITIES.

>> EXPANDED ROUTES NOT JUST THE ONE YOU ARE TALKING ABOUT BUT MORE PLACES TO GO NOW?

>> ABSOLUTELY.

IT ADD ADDED A FEW NET NEW CITIES AND TIES INTO THE SOUTHWEST INTERNATIONAL BANK.

YOU CAN GO OVERSEAS AND WITH THE SATURDAY SERVICE DOWN TO ORLANDO AND TAMPA NOW, THOSE ARE TWO HUGE TRAVEL MARKERS.

>> I DON'T MEAN TO BE FUNNY ABOUT IT BUT I DOUBT YOU GOT SOUTHWEST ABLE TO COME HERE IN A COUPLE OF PHONE CALLS.

THIS HAD TO BE A PROCESS.

>> ABSOLUTELY.

>> TALK ABOUT THAT.

WAS IT JUST A REAL PAIN FROM DAY ONE?

>> NO, THIS IS THE FUN PART WHAT HAVE WE DO, RIGHT.

IT'S CALLED AIR SERVICE DEVELOPMENT.

WHEN WE MEET VERY REGULARLY WITH ALL OF THE AIRLINES, RIGHT, TO PITCH NEW MARKET.

WE HAVE TO BUILD BUSINESS CASES, WHERE DOES THE COMMUNITY WANT TO FLY BUT ALSO DOES IT MAKE SENSE FOR CERTAIN CARRIERS.

WE HAVE BEEN WORKING WITH SOUTHWEST FOR YEARS, WAY BEFORE I GOT HERE AND THEN I PICKED IT UP AS I GOT HERE.

AND IT WAS A COUPLE THINGS THAT REALLY MADE IT HAPPEN.

ONE OF THEM BEING COVID.

SO SOUTHWEST WHERE THEY ARE HEAVY ON THE WEST COAST AND THEY PRIDE THEMSELVES ON BEING ABLE TO TURN QUICKLY.

SO THEY DON'T NEED TO DO, YOU KNOW, 14 FLIGHTS A DAY BETWEEN BURBANK AND OAKLAND.

SO WHERE DOES THAT AIRPLANE GO IN WHERE DOES THE CREW GO?

THEY STARTED TO LOOK AT NEW CITIES THAT WERE ON THEIR LIST TO ADD, AND WE WERE ON THAT LIST.

WE KNEW... >> ANY OTHER UPSTATE MARKETS OTHER THAN SYRACUSE, RIGHT?

>> CORRECT.

THAT'S A FUNCTION OF SOME OF THE MERGINGS THAT HAVE HAPPENED IN THE PAST.

BUT WE WERE IN 2019, WE WERE ON THEIR TOP FIVE NEW MARKETS TO ADD.

WE KNEW WE WERE IN THE TOP FIVE WHENEVER THEY STARTED ADDING CITIES.

SO WHEN ALL THE AIRCRAFT CAME AVAILABLE, THE MAX ISSUES GOT RESOLVED.

THEY STARTED TO HAVE AIRPLANE CAPACITY.

THEY LOOKED AT THAT LIST AND SAID NOW IS THE TIME TO GO INTO SYRACUSE.

>> IT WASN'T AN OBSTACLE WITH SYRACUSE COMMUNITY OR MARKET.

IT WAS JUST LOGISTICS GETTING THEM HERE.

THEY WANTED TO COME.

>> AIRLINES ONLY HAVE SO MANY AIRPLANES AND SO MANY CREWS, HAVE YOU TO DECIDE WHERE TO PUT THE PLANES.

>> NOT LONG AGO I SAW A BURCH OF ADS FOR ITHACA AIRPORT, AACCOUNT TRAING-- ATTRACTING FLIERS FROM OUR SYRACUSE AREA.

THE FEELING WAS THAT FLIGHTS OUT OF SYRACUSE, PUBLISHED REPORTS ON THIS.

FLIGHTS OUT OF SYRACUSE WERE MORE EXPENSIVE THAN ROCHESTER AND ITHACA.

WILL SOUTHWEST COMBAT THAT AND WHAT IF ANYTHING CAN YOU DO TO BRING COSTS DOWN, TO KEEP THE FLIERS HERE?

>> SO ACTUALLY, IN THE LAST TWO YEARS, OUR AIR FARES HAVE BEEN GOING DOWN.

WE ARE ACTUALLY HAVE THE FASTEST DROPPING AIR FARES OF ANY OF THE UPSTATE AIRPORTS AND THAT'S A COMBINATION OF A FEW THINGS.

SOME OF THE REVENUE INITIATIVES THAT WE PUT IN HERE, SOME OF THE COST CONTROLS, BUT ALSO IT IS THE FACT THAT NOW WE HAVE COMPETITION.

AMERICAN IS OUT OF DALLAS FORT WORTH.

WE ADDED MIAMI.

REGIONAL JETS, INSTEAD OF 50 SEATS OUT OF HERE TO CHICAGO, WE NOW HAVE 183 SEAT AIRCRAFT.

SO SUPPLY AND DEMAND, RIGHT?

THAT IS GOING TO HELP BRING DOWN THE AIR FARES BECAUSE HAVE YOU MORE PEOPLE COMING THROUGH.

>> SO THIS RIGHT HERE IS RIGHT NOW JUST A PLAIN WALL.

THIS ALL WILL GO AWAY.

THIS WHOLE WALL.

AND BEHIND THIS WILL BE OUR NEW BUSINESS LOUNGE.

SO IT WILL BE CALLED THE ESCAPE LOUNGE.

BUT WHAT IT WILL BE, 120 SQUARE FEET OF A LOUNGE THAT YOU CAN EITHER BUY A DAY PASS TO OR A SUBSCRIPTION TO SO THE BUSINESS TRAVELER CAN HAVE A QUIET SPACE, TABLES, CHAIRS, FOOD, BAR, THE WHOLE DEAL.

>> THIS IS OFTEN TIMES A FIRST IMPRESSION FOR SOMEBODY COMING HERE.

HOW IMPORTANT IS THAT TO YOU TO MAKE SURE WE ARE PUTTING OUT A GOOD FIRST IMPRESSION FOR ANYBODY FLYING IN HERE?

>> THAT'S THE KEY TO WHAT WE DO.

WE ARE A CUSTOMER SERVICE BUSINESS.

THAT'S OUR ROLE.

AND WE ARE.

WE ARE THE FIRST AND LAST IMPRESSION EVER A COMMUNITY.

THE GOVERNMENT PUT SOME REPORTS OUT THAT AIRPORTS LIKE THIS, SOME 490 OF THEM ACROSS THE COUNTRY, 11 MILLION JOBS.

>> YEP.

>> AND ACCOUNTING FOR LIKE 7% OF G.D.P.

YOU HAVE A MAJOR IMPACT ON THE AREA.

CAN YOU FEEL THAT?

PUT IT IN PERSPECTIVE FOR SYRACUSE ITSELF.

IT IS ABOUT 2500 JOBS ON THIS AIRPORT.

THEN WHEN YOU START LOOKING AT ROUTE IMPACTS, EVERY ROUTE THAT WE ADD ADDS A SIGNIFICANT AMOUNT OF ECONOMIC IMPACT.

THAT'S OUR-- THE JOB OF AN AIRPORT IS TO BE AN ECONOMIC CATALYST FOR THE COMMUNITY.

>> OUR THANKS TO JASON AND THOSE WHO HELPED US OUT AT THE AIRPORT.

NEXT WEEK WE LOOK AT HOW REFUGEES ARE IMPACTING THE ECONOMY OF UTICA NEW YORK.

WE'LL MEET A "REAL" UNICORN, OUR FIRST FOR THE SHOW AND WE VISIT THE MADDEN SCHOOL OF BUSINESS ON THE LEMOYNE COLLEGE CAMPUS - WE'LL SEE HOW THE CURRICULUM IS CHANGING FOR A CHANGING ECONOMY.

SO MUCH MORE COMING THIS SEASON AND IF YOU HAVE AN IDEA FOR A BUSINESS, PERSON OR JUST SOMETHING SPECIAL HAPPENING IN CENTRAL NEW YORK, LET US KNOW - CONTACT US BY EMAILING NEWS AT WCNY.ORG.

TO FIND OUT MORE ABOUT THE PROGRAM, PLEASE VISIT OUR WEBSITE AT WCNY DOT ORG FORWARD SLASH ON THE MONEY.

AND YOU CAN FOLLOW US ON WCNY THAN.ORG/ON THE MONEY.

YOU CAN FOLLOW US ON FACEBOOK, TWITTER AS WELL.

I'M DANIEL PLUFF.

THANKS FOR WATCHING.