COMING UP TONIGHT - THE LONG-OVERDUE REVITALIZATION OF DOWNTOWN OSWEGO; A COMPANY MAKING ROBOTS CAPABLE OF FACILITY INSPECTION AND MAINTENANCE; AND BIG THINGS COULD BE COMING TO CENTRAL NEW YORK THANKS IN PART TO A MULTI-MILLION DOLLAR ECONOMIC PLAN - IT'S OUR SPOTLIGHT PIECE WITH CENTERSTATE CEO.

ON THE MONEY BEGINS RIGHT NOW.

GOOD EVENING AND WELCOME TO ON THE MONEY, WCNY'S NEW FINANCIAL AND ECONOMIC DEVELOPMENT PROGRAM THIS IS 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'VE BEEN SHOWING YOU WHERE MONEY IS BEING MADE, SPENT AND LOST AND FOCUS ON PROJECTS AND ACTIVITIES AFFECTING US LOCALLY.

OUR FIRST REPORT TAKES US TO OUR FIRST REPORT TAKES US TO DOWNTOWN OSWEGO.

THE CITY OF OSWEGO WAS CHOSEN IN 2016 TO TAKE PART IN A DOWNTOWN REVITALIZATION INITIATIVE.

SINCE THEN, WITH THE 10 MILLION DOLLARS ALLOCATED, THE CITY HAS BEEN FOCUSING ON PROMOTING DEVELOPMENT AND SUSTAINABILITY.

A KEY ELEMENT OF THIS EFFORT IS THE LITATRO BUILDING.

WE SPOKE WITH THE BUILDING'S OWNER AND DEVELOPER ATOM AVERY ABOUT HOW THIS FIVE-STORY HUB OF PRIME COMMERCIAL AND RESIDENTIAL REAL ESTATE IS DESTINED TO BE THE CORNERSTONE OF THE REVITALIZED DOWNTOWN.

THE DOWNTOWN REVITALIZATION FUND, WHAT IT HAS MEANT FOR OSWEGO IS REALLY THAT SPARK TO A NEW FIRE.

IN 2016, THE STATE CAME OUT WITH THE DOWNTOWN REVITALIZATION INITIATIVE PROGRAM AND I HAD FIRST HEARD ABOUT THE PROGRAM.

OF COURSE I HAD JUST TAKEN OFFICE JANUARY 1, 2016.

I WENT DOWN TO THE GOVERNOR'S ANNUAL STATE OF THE STATE ADDRESS WHERE HE AT THE TIME, UNVEILED THE BRAND NEW PROGRAM.

I THOUGHT IT WAS THE PERFECT OPPORTUNITY FOR OSWEGO, BUT ALSO A NEW ADMINISTRATION, IN THE CITY, TO COME UP WITH THE VISION AND PICTURE WHAT WE WANTED TO BE AS A COMMUNITY AND WHAT WE COULD DO TO ACHIEVE THAT VISION.

122 MUNICIPALITIES STATEWIDE APPLIED IN 2016 AND LUCKILY WE WERE ONE OF THE 10 WINNERS.

>> WE WERE THE FIRST TO BE GRANTED FOR THE D.R.I.

FUNDS.

THE FIRST PROJECT AWARDED.

THE LIT AT THAT TIME ROW BUILDING WAS A REDESIGN OF WHAT DOWNTOWN OSWEGO LOOKS LIKE.

IT'S AN ACRONYM THAT MEANS THE LUCK IS THE ABILITY TO RECOGNIZE OPPORTUNITY.

THERE WAS AN OPPORTUNITY THAT KNOCKED WITH THE D.R.I., SOME FUNDING, SOME DEFINITE PRIVATE EQUITY.

WE HAVE A GREAT LOCAL BANK, PATHFINDER BANK THAT WAS A PARTNER IN THIS AND THEN CITY HALL, THE COUNTY AND STATE.

THE BUILDING ITSELF IS 20 UNITS.

ONE AND TWO BEDROOM APARTMENT MARKET RATE APARTMENTS.

THE DOWNSTAIRS, WE HAVE TWO COMMERCIAL SPACES, SOUTHERN FAIR RESTAURANT AND THE ROOF TOP LOUNGE REALLY IS SOMETHING THAT I WANTED EVERYBODY TO BE ABLE TO ENJOY THE SKYLINE OF OSWEGO AND THE RIVER AND LAKE.

>> OSWEGO, IN MY VIEW, HAS TWO KEY ECONOMIC ASSETS.

OUR CORE, VERY DENSE, HISTORIC DOWNTOWN.

WE HAVE A LOT OF BUILDINGS DOWNTOWN WITH SOME GREAT CHARACTERISTICS THAT REALLY EMBRACE HISTORY AND HAVE SOME COOL ARCHITECTURE.

AND THEN THE SECOND KEY ASSET IS THE WATERFRONT AND THE RIVERFRONT, WHICH WE HAVE A LOT OF.

WE HAVE WORLD CLASS SUNSETS ON THE WATER.

BUT UNFORTUNATELY OSWEGO, FOR DECADES, NEVER CAPITALIZED ON BEING A WATERFRONT COMMUNITY.

SO THAT WAS REALLY THE WHOLE PREMISE OF OUR APPLICATION WAS UTILIZING THOSE TWO KEY ASSETS, TYING THEM TOGETHER AS ONE AND THAT'S REALLY HOW WHEN WE SAT DOWN TO AUTHOR OUR PROPOSAL AND APPLICATION, WERE REALLY THE TWO COMPONENTS WE HAD IN MIND.

OUR GOALS HERE AT THE ROOF TOP LOUNGE IS TO FIT IN THE SOCIAL LIKE RESTAURANT COMMUNITY.

WE HAVE SMALL PLATES AND WHAT WE REALLY STRIVE TO BE IS A STOP IN SOMEBODY'S EVENING OUT.

WE ARE TRYING TO COMPLEMENT THE OTHER RESTAURANTS AND NOT COMPETE WITH THE OTHER RESTAURANTS.

>> IF YOU TAKE THE PRIVATE INVESTMENT FROM DEVELOPERS THAT WAS SPURRED BECAUSE OF THE 10 MILLION-DOLLAR GRANT, WE HAVE SEEN OVER $110 MILLION INVESTED INTO OUR DOWNTOWN.

THE PEOPLE MOVING INTO THESE APARTMENT COMPLEXES ARE THE EXACT PEOPLE WE ARE GOING TO SEE IN THE BISTRO OR SOUTHERN FAIR OR THE BAGEL SHOP AND THAT OTHERWISE WOULD NOT HAVE HAPPENED WITHOUT THEM MOVING INTO DOWNTOWN AND SPURRING THAT ECONOMIC ACTIVITY THAT COMES ALONG WITH RESIDENTIAL UNITS AND PEOPLE LIVING IN YOUR DOWNTOWN.

>> COME VISIT US AGAIN.

WE ARE NOT THE SAME OSWEGO.

WE HAVE COME A LONG WAY.

LIKE WE REALLY HAVE.

LIKE WE REALLY HAVE.

>> OUR COMMON CENTS PIECE NEXT.

AND WE HAVEN'T TALKED THIS SEASON ABOUT SOCIAL SECURITY BUT IT'S ON THE MINDS OF MANY, MANY PEOPLE JUST ABOUT ANY AGE, IN FACT.

SOME CONCERNS ABOUT WHETHER OR NOT SOCIAL SECURITY WILL BE AROUND, HOW MUCH MORE THAN IS AVAILABLE, ET CETERA.

WE ASKED TONIGHT DAVID MIR BEAT OWE, MIR BEAT OWE TO TALK TO US AND I KNOW THIS IS AN OPEN ENDED QUESTION.

BUT WHAT ARE SOME KEY POINTS WE NEED TO KNOW ABOUT SOCIAL SECURITY FROM YOUR STANDPOINT.

>> A FEW THINGS.

EIGHT TO 10,000 PEOPLE IN THE U.S.

TURN 62 EVERY DAY AND THEY'RE ELIGIBLE TO START RECEIVING BENEFITS.

ONE INTERESTING THING.

THE WAGE BASE.

6.2%, $147,000, IF YOU EARN MORE THAN THAT, YOU GET TO STOP PAYING SOCIAL SECURITY, OTHERWISE BOTH THE EMPLOYEE AND THE EMPLOYER CONTRIBUTING 6.2% OF YOUR SALARY.

AT THE RATE WE ARE GOING, THE SOCIAL SECURITY TRUST FUND WILL RUN OUT OF MONEY BETWEEN 2032 AND 2034.

HOWEVER, THERE IS SOME GOOD NEWS HERE.

IN 2020, CALENDAR YEAR 2020, THE SOCIAL SECURITY ADMINISTRATION TOOK IN MORE MONEY THAN THEY SENT OUT, WHICH NOT EVERYONE KNOWS THAT.

WE WILL HAVE AMERICAN PEOPLE WILL HAVE TO MAKE DECISIONS, TOUGH DECISIONS ABOUT RAISING THE RETIREMENT AGE, RAISING TAXES OR REDUCING BENEFITS.

AND HERE IS ONE THAT IS REALLY INTERESTING.

69% OF ALL THE PEOPLE APPLYING FOR SOCIAL SECURITY FILED FOR THAT BEFORE THEIR FIRST-- BEFORE THEIR FULL RETIREMENT AGE.

>> THAT'S INTERESTING.

BUT YOU SAID SOMETHING I DIDN'T KNOW AND I'M EMBARRASSED.

MORE MONEY TAKEN IN THAN WAS PAID OUT LAST YEAR, CORRECT?

>> CORRECT.

IN 2020.

NOT 21.

>> SURE, A QUICK FOLLOWUP THEN.

ARE YOU COMFORTABLE THERE WILL BE SOMETHING IN SOCIAL SECURITY FOR THOSE PEOPLE RETIRING YEARS FROM NOW?

>> I BELIEVE VERY STRONGLY THAT SOCIAL SECURITY WILL EXIST FOR ALL OF US.

I CAN'T IMAGINE THAT ANY ELECTED LEADER WOULD SAY WE SHOULD NOT HAVE SOCIAL SECURITY.

IT'S TOO POPULAR A PROGRAM.

>> SURE.

>> DAVID MIRABITO FINANCIAL PLANNER.

GREAT STUFF.

THANK YOU SO MUCH AND THAT'S OUR COMMON CENTS PIECE FOR TONIGHT SEEMS SOCIAL SECURITY IS ALWAYS AN INTERESTING TOPIC FOR MANY PEOPLE AND OUR THANKS AGAIN TO DAVID.

UP NEXT, OUR SEGMENT WE CALL TECH BYTES WHERE WE FEATURE NEW TECH BYTES WHERE WE FEATURE NEW TECHNOLOGIES BEING DEVELOPED OR USED HERE IN CENTRAL NEW YORK.

MANUFACTURING AND INDUSTRIAL DEVELOPMENT FACILITIES REQUIRE CONSTANT MAINTENANCE AND INSPECTIONS TO ENSURE PRODUCTIVITY AND QUALITY.

HOWEVER, THESE ACTIVITIES DISRUPT WORKFLOW AND CAN BE POTENTIALLY DANGEROUS TO THE WORKERS CONDUCTING THEM.

WAYGATE TECHNOLOGIES, HEADQUARTERED IN GERMANY, OFFERS ROBOTIC SOLUTIONS TO ISSUES OF EFFICIENCY AND SAFETY IN INDUSTRIAL INSPECTIONS.

WE VISITED THEIR LOCAL FACILITY IN SKANEATELES TO GET A LESSON IN ROBOTICS.

WAY WAYGATE IS AN INDUSTRIAL INSPECTION SOLUTIONS PROVIDER.

THE EASIEST WAY I DESCRIBE IT IS WE ARE HEALTHCARE FOR INDUSTRY.

SO WE DO EVERYTHING FROM VISUAL TECHNOLOGIES TO ULTRASOUND TO X-RAY.

THE SAME THINGS WOULD YOU SEE INSIDE OF A DOCTOR'S OFFICE.

WE APPLY TO INDUSTRY.

WE STARTED OFF IN SKANEATELES.

THEY HAD AN INDUSTRIAL GROUP FOCUSED ON EMPLOYING THE FIBER OPTICS FOR INDUSTRY AND THEN I THINK IT WAS ABOUT 2005, G.E.

WAS BUILDING UP AN INSPECTION TECHNOLOGIES GROUP AND THAT'S WHAT BROUGHT US INTO INSPECTION TECHNOLOGIES.

IN 2020, WE WENT AND BRANDED OURSELVES AS WAY WAYGATE AND THAT'S HOW WE ARE TODAY.

>> IT'S PRETTY UNIQUE.

THERE ARE ONLY A PEW PLAYERS IN THE NON DESTRUCTIVE TESTING SPACE AND IF YOU NARROW IN AUTO WHAT WE DO HERE, FOCUS ON THE VISUAL SPACE.

THERE ARE NOT A LOT OF VIDEO SCOPE BOARD PROVIDERS AROUND THE WORLD.

WE MANUFACTURE THE ENTIRE VIDEO PROBE FROM THE OPTICS AND THE IMAGING TECHNOLOGIES ALL THE WAY THROUGH THE PROBES TO THE HAND SETS.

EVERYTHING IS MANUFACTURED HERE LOCALLY.

HAS BEEN MANUFACTURED HERE LOCALLY.

WE HAVE BEEN HERE SINCE RIGHT BEFORE THE 1990S.

THIS IS AN INDUSTRIAL VIDEO BOARD SCOPE AND IT'S A VERY SMALL CAMERA SYSTEM AND WHAT A TECHNICIAN WOULD DO, AS THE ENGINE WOULD ROTATE, THEY WOULD LOOK AT AIRCRAFT BLADES FOR DEFECTS AND IF THEY SEE A DEFECT, THIS DEVICE ACTUALLY HAS THE CAPABILITY TO QUANTIFY THE SIZE OF THE DEFECT VERY PRECISELY WITH THREE DIMENSIONAL MEASUREMENTS.

WHAT I'M MEASURING HERE IS HOW MUCH IMPACT DAMAGE IS ON THAT TURBINE BLADE AND THAT WILL HAVE A VERY SPECIFIC TOLERANCE OF WHAT IS SAFE TO FLY AND I WOULD SUSPECT THAT THIS WOULD NOT BE SAFE TO FLY AND WOULD HAVE TO BE PULLED OFF WING.

IT IMPROVES SAFETY SO YOU ARE NOT FLYING AN AIRCRAFT ENGINE WITH DEFECTS BUT YOU CAN QUANTIFY DEFECTS AND SAY THIS IS SAFE TO FLY AND INSTEAD OF TAKING AN ENGINE OFF WING THAT CAN COST HUNDREDS OF THOUSANDS OF DOLLARS.

YOU CAN BE SAFE AND KNOW THAT IT IS SAFE TO FLY.

WE OPERATE IN DIFFERENT INDUSTRIES FROM AVIATION TO POWER, WIND, A CONSUMER ELECTRONICS.

WE'VE GOT LONG-TERM CONTRACTS WITH, FOR EXAMPLE, U.S. DEFENSE.

SO THE U.S. ARMY AND THE NAVY AND CUSTOMERS LIKE THAT.

WE'VE GOT LONG-TERM CONTRACTS WITH COMMERCIAL AND CIVIL AVIATION AND WE ALSO HAVE A LOT OF SMALLER CUSTOMERS THAT ARE PLACING ONE OR TWO ORDERS EVERY COME TO OF YEARS.

BUT EVEN THOUGH WE DO A LOT OF OUR MANUFACTURING HERE, WE'VE GOT SITES AROUND THE WORLD AND TAKE A LOT OF MATERIALS IN FROM AROUND THE WORLD.

A LOT OF THE RAW MATERIALS AND COMPONENTS THAT GO ON THERE, WE ARE IMPACTED LIKE A LOT OF OTHER INDUSTRIES.

WE TRY TO FULFILL OUR ORDERS IN ONE OR TWO WEEKS IN PLACING AN ORDER AND THE INFLATION SIDE BECAUSE THE PRICE OF EVERYTHING HAS GONE UP WHICH CAUSES CHALLENGES FOR US BUT WE HAVE BEEN ABLE TO CONTINUE TO MANUFACTURE AND FULFILL FOR OUR CUSTOMERS.

WE'VE GOT ABOUT TODAY 170 TO 180 EMPLOYEES HERE ON SITE AND ABOUT HALF OF THAT IS OUR MANUFACTURING FACILITY.

IT KEEPS THE QUALITY OF OUR PRODUCTS IN CHECK.

MOST OF OUR EMPLOYEES HAVE BEEN HERE 15 PLUS YEARS.

SO WHEN WE TRACK TALENT, WE ATTRACT TALENT.

THE PEOPLE, THE CULTURE.

WE HAVE BUILT THIS BUSINESS ON AND THEY STAY.

WE HAVE LONG TENURE WITH OUR EMPLOYEES.

EMPLOYEES.

THE IMPACT OF THE BROADER REGION.

>> UP NEXT, BY THE NUMBERS PIECE, REGRETTABLY NOT GREAT NUMBERS TO SHOW AGAIN THIS WEEK.

I PROMISED TO LOOK FOR SOME IMPROVEMENT BUT NONETHELESS, WE HAVE BEEN TALKING ABOUT INFLATION FOR MOST OF THE SERIES THIS YEAR.

PRICES ARE UP.

YOU KNOW THAT.

BUT IT MAKES YOU WONDER HAVE WE BEEN HERE BEFORE?

TURNS OUT OF COURSE WE HAVE.

AND WE THOUGHT WOE WOULD LOOK BACK AT A MORE INFLATIONARY PERIOD.

LOOK BACK TO 1978, COSTS WERE RISING AT THAT TIME AT A RATE OF 9% ANNUALLY.

THEY REALLY WENT UP IN 1979 BY 13.3%.

DOUBLE DIGIT INFLATION.

THAT CARRIED OVER TO 1980s.

A LITTLE MODERATION IN 1981.

BUT NOT MUCH.

CLOSE TO 9% INFLATION RUNNING IN 1981.

STILL ABOVE WHERE WE ARE RIGHT NOW BUT THOSE WERE TOUGH NUMBERS.

AGAIN WE ARE IN SOME PRETTY HIGH INFLATION ENVIRONMENT RIGHT NOW, TOO, THOUGH.

BUT THOSE NUMBERS PUT IT IN PERSPECTIVE FOR YOU.

WE HAVE BEEN HERE BEFORE.

OH, BUT IF YOU ARE PLANNING TO TRAVEL, MORE BAD NEWS.

IN APRIL OF THIS YEAR, THE MONTH OVER MONTH INCREASES IN TRAVEL COSTS WERE AN AMAZING 18.6%.

THE LARGEST 30-DAY INCREASE ON RECORD AND FOR THE ONE-YEAR PERIOD ENDING IN APRIL, WELL, PRICES WENT UP BY 33.3%.

THAT'S A BIG INCREASE.

AND MY ADVICE?

AT THOSE PRICES, DON'T BOOK THE MIDDLE SEAT.

WELL WELL, WE CLOSE TONIGHT WITH OUR SPOTLIGHT SERIES WHERE WE'VE BEEN INTRODUCING YOU TO SOME INTERESTING BUSINESSES AND PEOPLE.

AS YOU MAY HAVE SEEN FROM SOME OF OUR REPORTS THROUGHOUT THE SERIES, CENTRAL NEW YORK IS EXPERIENCING QUITE AN UPTICK IN OUR ECONOMY, BUSINESSES ARE EXPANDING, CUTTING EDGE TECHNOLOGY IS BEING DEVELOPED TECHNOLOGY IS BEING DEVELOPED AND ASSISTANCE AND TRAINING IS BEING OFFERED TO A WHOLE NEW SET OF EMPLOYES.

AND WE ARE LITERALLY ON THE VERGE OF SOME MAJOR ECONOMIC GROWTH IF JUST SOME OF THE INITIATIVES WE'VE HIGHLIGHTED MATERIALIZE.

AT THE HEART OF MUCH OF THIS GROWTH IS THE CENTERSTATE CORPORATION FOR ECONOMIC OPPORTUNITY.

BASED IN SYRACUSE, CENTERSTATE CEO REACHES ACROSS CENTRAL NEW YORK TO ATTRACT, DEVELOP AND RETAIN BUSINESSES THROUGH A VARIETY OF SUPPORTIVE MEANS.

I MET WITH BEN SIO, THEIR CHIEF OF STAFF, WHO OFFERED SOME ENCOURAGING NEWS ON NOT JUST THEIR CURRENT EFFORTS, BUT THEIR FUTURE GOALS AS WELL.

WHAT IS THE PURPOSE OF CENTERSTATE C.E.O.

FOR THOSE WHO MIGHT NOT BE TOTALLY FAMILIAR?

>> AT THE END OF THE DAY, OUR MISSION IS TO CREATE A REGION WHERE PEOPLE THRIVE AND BUSINESSES PROSPER.

>> YOU ARE HELPING BUSINESSES IN THE COMMUNITY.

>> ABSOLUTELY.

>> ATTRACTING BUSINESSES?

A LITTLE OF EVERYTHING?

>> A LITTLE OF EVERYTHING.

>> WE ARE AN ECONOMIC DEVELOPMENT ORGANIZATION FOR THE CHAMBER OF COMMERCE AND DEVELOPMENT GROUP.

WE DO HIGH TECH INCUBATION FOR COMPANIES.

WE DO TRAINING.

>> IT REMINDS ME BACK IN THE DAY, I'M A LITTLE OLDER THAN YOU, BUT THESE THERE WERE ALL THESE DIFFERENT ENTITIES AND I THINK YOU BROUGHT ALL THAT TOGETHER.

>> JUST OVER A DECADE AGO, THE METROPOLITAN DEVELOPMENT ASSOCIATION MERGED WITH THE GREATER SYRACUSE CHAMBER OF COMMERCE.

BUT A LOT OF PEOPLE DON'T KNOW THOUGH AT THAT TIME WE BROUGHT ABOUT 30 AFFILIATED NON-PROFIT ENTITIES TOGETHER UNDER ONE UMBRELLA AND WE NOW CALL IT CENTERSTATE.

AT THE END OF THE DAY, OUR ROLE IN LIFE IS TO EFFECTIVELY FIND, MARKET OPPORTUNITY AND MARKET CHALLENGE AND ADDRESS IT.

WHERE IS THE MARKET NOT WORKING AND HOW CAN WE FIGURE OUT HOW TO MAKE IT WORK BETTER.

>> THE FOCUS FOR A LONG TIME AROUND HERE SEEMED TO BE ON RETAINING, ATTRACTING BIG BUSINESSES BUT REALLY SMALL BUSINESSES DRIVE A LOT OF THE ECONOMIC DEVELOPMENT AROUND HERE.

IS THAT YOUR FOCUS CURRENTLY?

>> ABSOLUTELY.

THE ECONOMIC DEVELOPMENT INDUSTRY SOMETIMES GETS A BAD RAP BECAUSE IT'S ALL ABOUT ATTRACTING NEW COMPANY TO YOUR COMMUNITY.

THAT'S WAS WE DO A FAIR AMOUNT OF.

AT THE END OF THE DAY, 90% OF NEW JOBS CREATED IN THE COMMUNITY COME FROM A BUSINESS STARTING OR AN EXISTING BUSINESS EXPANDING HERE.

SO OUR FOCUS AND HOW WE ALLOCATE RESOURCES AT CENTERSTATE IS ALWAYS MORE ON WHAT WE CALL BUSINESS RETENTION AND EXPANSION.

>> I ASKED OUR ELECTED OFFICIALS , COUNTY EXECUTIVE WAS ON, THE MAYOR WAS ON, ET CETERA, WHEN WE ARE TRYING TO ATTRACT BUSINESSES HERE, ARE WE TRYING TO SPOIL THE COMPANIES WITH TAX INCENTIVES AND ALL THAT?

WHAT IS IN YOUR ARSENAL IN WHAT ARE YOU DOING?

WHAT ARE YOU SHOWING POTENTIAL BUSINESSES SOME ATTRACTIVE INCENTIVES TO GET THEM TO COME HERE?

>> SO THE INCENTIVE CONVERSATION OBVIOUSLY FRAUGHT WITH DIFFERENCE OF OPINIONS, RIGHT.

BUT WHEN YOU SIT ACROSS THE TABLE FROM A COMPANY THAT IS SELECTING CENTRAL NEW YORK, OR TEXAS OR VIRGINIA, OR MISSOURI.

YOU HAVE TO BE COMPETITIVE AND PUT YOUR BEST FOOT FORWARD.

I CAN ALWAYS TELL YOU, THE INCENTIVE, THE COST CONVERSATION IS NOT THE ONLY PART OF THE CONVERSATION.

IF IT WAS, NOBODY WOULD LOCATE IN BOSTON AND COMPANIES THRIVE IN BOSTON.

COMPANIES DO GREAT IN BOSTON.

THERE ARE ELEMENTS THAT WE BRING TO THE TABLE IN ADDITION TO INCENTIVES FOR CENTRAL NEW YORK.

COLLEGES AND UNIVERSITIES.

WE HAVE CLEAN, FRESH WATER.

ONE OF THE SAFEST PLACES FROM NATURAL DISASTERS IN THE U.S. PEOPLE DON'T THINK ABOUT THAT BUT I CAN TELL YOU THEY'LL BE THINKING ABOUT FRESH WATER AND HOW MUCH IT COSTS TO GET.

>> BUILD BACK BETTER REGIONAL PROGRAM.

I'M LEAVING OUT A WORD.

>> REGIONAL CHALLENGE.

>> IT'S ESSENTIALLY AN APPLICATION FOR A CHUNK OF MONEY.

TELL ME ABOUT THAT.

>> SO, UNFORTUNATELY NAMED, THE BUILD BACK BETTER REGIONAL CHALLENGE, IT'S NOT ATTACHED TO THE BUILD BACK BETTER BILL THAT DIED A COUPLE MONTHS AGO IN CONGRESS.

THIS WAS PASSED AS PART OF ARPA.

THE MONEY THERE.

A COUPLE BILLION DOLLARS WAS DIRECTED TO THE ECONOMIC DEVELOPMENT ADMINISTRATION, KIND OF-- >> SUCH A CAVALIER WAY.

>> A COUPLE BILLION DOLLARS.

>> THE FEDERAL GOVERNMENT, THAT'S...

IT'S A SLEEPY AGENCY, THEY WOULD NEVER HAVE THIS MUCH MONEY DIRECTED TO THEM, THE ECONOMIC DEVELOPMENT ADMINISTRATION.

WHAT IT IS EFFECTIVELY FOR IS CLUSTER DEVELOPMENT AT A REGIONAL LEVEL WHICH IS EFFECTIVELY HOW DO YOU TAKE ONE INDUSTRY THAT IS DOING WELL IN A REGIONAL AREA THAT IS CLUSTERING AND MAKE IT EXPAND AND MAKE IT GROW AND INJECT SOME SORT OF RESOURCE IN IT TO DO THAT.

WHAT E.D.A.

WANTED TO DO DIFFERENT THIS TIME, WHICH IS REALLY INTERESTING FOR US, THEY WANTED US TO MARRY A GROWTH AGENDA, ECONOMIC GROWTH AGENDA WITH AN INCLUSION AGENDA TO MAKE SURE THAT THE INVESTMENTS WE WERE MAKING DIDN'T JUST GO TO PEOPLE THAT LOOK LIKE YOU AND ME, BUT BENEFITED PEOPLE THAT ARE TRADITIONALLY ON THE SIDELINES WHEN THESE THINGS ARE INVESTED IN.

>> THIS WHOLE NOTION OF INCLUSIVENESS AND INCLUSIVITY, IF THAT'S CORRECT, HOT TOPIC RIGHT NOW.

>> NEEDED TOPIC.

IF YOU LOOK AT THE NUMBERS, RIGHT?

CENTRAL NEW YORK AND THE CITY OF SYRACUSE RANKS UP HIGHLY FOR POVERTY RATE.

>> BEFORE WE TALK ABOUT HOW TO QUALIFY FOR THIS, HOW MUCH MONEY ARE YOU TALKING ABOUT?

>> THE OPPORTUNITY WAS UP TO $100 MILLION.

WE ULTIMATELY PUT IN AN APPLICATION OF AROUND $68 MILLION.

>> OKAY.

THAT BEGS THE QUESTION, WHY NOT ASK FOR MORE?

>> WE WANT TO BE STRATEGIC.

E.D.A.

CAN ONLY MAKE 30 AWARDS.

WE ARE A FINALIST, ONE OF 60 FINALISTS.

E.D.A.

CAN ONLY MAKE 30 AWARDS AND THEY ONLY HAVE A CERTAIN AMOUNT OF MONEY TO INVEST.

THEY CAN'T JUST, YOU KNOW,-- IF THEY WANT TOAD GIVE 30 ENTITIES $100 MILLION, THEY'RE GOING TO BE OUT OF MONEY REALLY QUICK.

>> YOU KNOW, THERE IS A LOT OF MONEY SLOSHING AROUND.

$68 MILLION.

IF THAT COMES IN, WHO BENEFITS?

WHERE IS THE MONEY GOING?

>> IT GOES DIRECTLY INTO EIGHT PROJECTS.

SATE REGIONAL PROJECTS-- EIGHT REGIONAL PROJECTS.

E.D.A.

SAID HAVE YOU TO PUT FORWARD AN APPLICATION.

>> YOU LISTED THE PROJECTS IN THE APPLICATION.

THEY'RE EYEBALLING THEM.

>> YES AND THE PUBLIC.

AVAILABLE ON OUR WEBSITE AND WE TALKED ABOUT THEM IN THE NEWS BEFORE.

IT'S EFFECTIVELY E.D.A.

SAID TO US, HOW SHOULD WE INVEST THESE DOLLARS AND IN WHAT PROJECTS SHOULD WE INVEST THESE DOLLARS TO UNLOCK NEW GROWTH IN THIS CLUSTER, SMART SYSTEMS.

>> CAN YOU GIVE ME AN EXAMPLE OF ONE?

>> TECH AREA EXPANSION.

WE, AS PART OF THIS, WE ARE LAUNCHING NEW PROGRAMS AT THE TECH GARDEN, SPECIFICALLY TO INCUBATE XP EBUSINESSES IN THE SMART SYSTEM SPACE AND EXPANDING TECH GARDEN.

A WHOLE EXPANSION IS HAPPENING RIGHT NOW.

SOME MONEY WILL GO TO THAT.

>> LET'S BE OPTIMISTIC AND ASSUME WE GET THE MONEY, WE GET THE AWARD.

IT'S ESSENTIALLY PRE-SPENT BECAUSE YOU HAD TO NAME THESE PROJECTS IN THE APPLICATION, RIGHT?

IT'S NOT GOING TO BE A FIGHT FOR THE FINISH.

YOU KNOW WHERE THE MONEY IS GOING TO GO.

IT'S PRETTY MUCH PRESPENT, IT'S JUST A MATTER OF GETTING THE MONEY.

>> WHAT ARE THE CHANCES AND IF IT DOES WORK OUT, WHAT IS THE TIMEFRAME?

>> WE SHOULD KNOW BETWEEN JULY AND SEPTEMBER AND WE HAVE FOUR YEARS TO SPEND THE MONEY ON THE PROJECTS WE SELECTED, THOSE EIGHT PROJECTS I TALKED ABOUT EARLIER.

AND IT CAN GO INTO JOB TRAINING, CAPITAL, IT CAN GO INTO TECH INCUBATION LIKE WE TALKED ABOUT AND DEMONSTRATION PROJECTS.

>> WHAT DOES THAT MEAN?

>> SO THIS IS REALLY COOL.

SO THE NEW YOU WERE TALKING ABOUT BEFORE, WORKING WITH UPSTATE ON A DRONE DELIVERY PROGRAM.

THIS WOULD PROVIDE FUNDING TO OPERATIONALIZE IT.

THEY HAVE BEEN TESTING FOR TWO YEARS.

THEY DON'T HAVE THE FUND TO TURN IT INTO A REALITY.

THIS WOULD PROVIDE THE FUNDING TO HAVE THEM DO THAT ON A REGULAR BASIS.

ROUTINE DRONE OPERATIONS IN THE CITY OF SYRACUSE DELIVERING LIFE SAVING DRUGS.

>> BLOOD.

>> ALL THESE THINGS ALONG THE CAMPUS WHICH IS REALLY IMPORTANT ONCE WE ARE TEARING DOWN I-81 AND THERE IS A LOT OF DISRUPTION.

THEY STILL NEED TO GET THINGS BETWEEN THE CAMPUS AND THIS WILL HELP.

>> BROAD-BASED BREN IF IT TO THIS-- BENEFIT.

THIS ISN'T ONE SECTOR OF THE POPULATION.

IF THIS HAPPENS, IT IS GOOD FOR EVERYBODY.

>> IT'S GOOD FOR EVERYBODY.

PRIMARILY BECAUSE WHAT WE ARE INVESTING IN IS A TRADED SECTOR.

WE CALL THIS SMART SYSTEMS INDUSTRY A CLUSTER AND WE HAD TO CHOOSE ONE.

WE HAD TO SELECT A WINNER IN CENTRAL NEW YORK BUT BECAUSE IT'S TRADED THAT MEANS WE PROVIDE GREAT JOBS FOR PEOPLE WORKING IN THOSE DIRECT COMPANIES, BUT THERE IS ALSO A MASSIVE SUPPLY CHAIN AROUND IT.

LOCATED HERE IN CENTRAL NEW YORK.

I CAN NAME 20 COMPANIES IN THE SUPPLY CHAIN THAT WOULD BENEFIT AS WELL.

>> I'M SORRY.

I'M NOT SURE WE HIT IT BUT TIMEFRAME ON THIS AGAIN?

HOW LONG BEFORE YOU WILL KNOW?

>> WE SHOULD KNOW BETWEEN AUGUST AND SEPTEMBER.

OF THIS YEAR AND WE HAVE FOUR YEARS TO SPEND THE MONEY.

>> THIS USED TO BE SUCH A BIGGER TOWN FOR MANUFACTURING.

AND NOT SO MUCH NOW.

ARE WE TRADING OFF MANUFACTURING FOR ALL THESE HIGH TECH JOBS?

>> IT'S REALLY A MIX THOUGH.

PHOTO KITE FIRST LANDED HERE, PART OF THE GENIUS NEW YORK PROGRAM.

THEY ONLY HAD A SALES OFFICE AND ENGINEERS HERE.

BUT THEY'RE SOON GOING TO MOVE THEIR ENTIRE MANUFACTURING LINE HERE BECAUSE THEY WANT TO HAVE THEIR ENGINEERS CLOSE TO THE MANUFACTURING LINE SO THERE IS AN ISSUE THAT CAN GET INTO THE MANUFACTURER QUICKLY.

DENSITY DOES THAT AS WELL.

DENSITY DOES A LOT OF ASSEMBLING HERE IN NEW YORK.

THEY DIDN'T START MANUFACTURING HERE IN NEW YORK.

>> WHAT ARE THE OBSTACLE YOU ARE FACING?

>> TO ATTRACT A COMPANY.

>> THE SAME OBSTACLE THAT A LOT OF COMPANIES ARE HAVING EVERYWHERE.

CAN YOU FIND THE WORKFORCE.

AND THIS IS NOT JUST A CONVERSATION FOR CENTRAL NEW YORK.

EVERY SINGLE ECONOMIC DEVELOPER IS TELLING YOU THEIR INDUSTRY HAS SHIFTED AWAY FROM CREATING JOBS TO HELPING FILL JOBS.

OUR JOB IS NOT JUST TO BRING IN A COMPANY AND HELP THEM GROW.

WHAT IS COMING.

WHAT CAN WE EXPECT FOR THE REST OF 2022?

>> ANOTHER ROUND OF GENIUS NEW YORK.

WE ARE GOING TO GET FIVE MORE I.O.T.

OR SMART SYSTEM COMPANIES HERE.

SO THE BUILD BACK BETTER REGIONAL CHALLENGE, KNOCK ON WOOD, HOPEFULLY WE WILL BE SUCCESSFUL THERE AND THE NEXT THING DOWN THE PIPELINE IS THE CHIPS ACT, RIGHT?

INVESTMENT IN SEMICONDUCTOR INDUSTRY THAT WE HOPE THE FEDERAL GOVERNMENT WILL MAKE.

IT'S IN CONFERENCE COMMITTEE RIGHT NOW.

I DON'T WANT TO SAY WHEN IT'S GOING TO PASS BECAUSE I DON'T WANT TO JINX IT BUT WHEN IT DOES PASS, THERE IS A NEW OPPORTUNITY ON THE TABLE FOR US TO BRING IN ADDITIONAL SEMICONDUCTOR MANUFACTURING.

>> WILL YOU COME BACK IN THE FALL?

FALL?

>> I'LL COME BACK TOMORROW.

>> FALL WILL BE FINE.

THANK YOU, ENJOYED THE TIME.

BEN SIO WHO'S NOT LACKING ENTHUSIASM.

BELIEVE IT OR NOT, NEXT WEEK IS OUR SEASON FINALE.

AND WE'LL BE GOING TO UTICA TO SEE HOW A PROGRAM BY MOHAWK VALLEY COMMUNITY COLLEGE IS GETTING SMALL BUSINESSES OFF THE GROUND; WE CHECK IN AT COMMUNITY MEMORIAL HOSPITAL, WHERE THE SURGICAL TEAM IS WORKING TOGETHER WITH ROBOTS; AND WE SPOTLIGHT BEAK AND SKIFF APPLE ORCHARDS.

TALK ABOUT AN EXPANDING BUSINESS - FROM APPLES TO NOW - CANNABIS AND IF YOU HAVE AN IDEA FOR A BUSINESS, A PERSON OR JUST SOMETHING SPECIAL HAPPENING IN CENTRAL NEW YORK, WE WANT TO YOU LET US KNOW.

CONTACT US BY EMAILING NEWS AT WCNY.ORG.

TO FIND OUT MORE ABOUT THE PROGRAM, PLEASE VISIT OUR WEBSITE AT WCNY.ORG/ONTHEMONEY.

YOU CAN SEE PREVIOUS SHOWS THERE, TOO.

AND YOU CAN FOLLOW US ON FACEBOOK AND TWITTER.

I'M DANIEL PLUFF, FROM ALL OF US AT ON THE MONEY, THANKS FOR WATCHING