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CORTLAND TRANSIT EXTENDS BUS ROUTE TO HELP EMPLOYER
MARATHON, N.Y. — Cortland Transit has extended one of its routes to make it easier for workers to get to Square Deal Machining, Inc. (SDMI).
Bus route 5, which runs twice a day each morning and again in the afternoon, will now run past the four corners in Marathon to Square Deal’s facility on Route 11.
“This extension will assist with SDMI’s expansion and need for employees. SDMI, which currently employs hundreds of people and is rapidly expanding, is offering new hires one month of free bus fare to and from the plant,” according to a release from the company.
The new route was announced Thursday at the same time Cortland Transit unveiled several buses that were wrapped with the machining company’s logo.
“Living in a rural area, many employees rely on Cortland Transit to get to work each day,” said Joe Morgan, CEO of Square Deal. “The Cortland Transit system has helped us recruit talented workers from all over the county, and we believe this partnership will allow more hardworking individuals to find quality professional opportunities at SDMI.”
An SDMI spokesman said the route extension was already in place before the company agreed to the wraps.
Del Lago, DraftKings forge deal for future sports betting
TYRE, N.Y. — Del Lago Resort & Casino has reached an agreement with DraftKings to provide a sportsbook at the casino once New York legalizes sports betting.
The agreement also enables the creation of a mobile and online sports-wagering option, once the state authorizes it, according to a joint news release issued Monday.
“New York is one of the largest revenue opportunities for future sports wagering operators and we are thrilled to partner with del Lago Resort & Casino to offer sports fans a unique and novel sports betting experience, both at a physical sportsbook and on mobile when permitted,” Jason Robins, CEO and co-founder of DraftKings, said.
A sportsbook is an establishment that takes bets on sporting events and pays out winnings.
DraftKings is “well positioned” to capitalize on the New York market through its “industry leading” technology and more than 10 million customers, the company contends. It began work on its sportsbook product a year ago following the U.S. Supreme Court’s decision to consider New Jersey’s challenge to the Professional and Amateur Sports Protection Act.
New Jersey won that case in May, meaning states can now decide if they want to allow gamblers to place bets on individual games.
Pending the adoption of a state law authorizing online sports wagering and corresponding regulations, DraftKings plans to “leverage its experience” in developing daily fantasy sports contests to launch a sports-betting app along with a web-based platform in New York.
“We see DraftKings as a fantastic and strategic partner in our sportsbook operation at del Lago Resort & Casino, and this deal represents a tremendous move forward for our property in general,” Brent Stevens, co-chairman of del Lago and CEO of Peninsula Pacific, said in the release.
Los Angeles, California–based Peninsula Pacific is del Lago’s development partner.
This is the second sports-wagering partnership DraftKings has secured, having announced a similar deal last month with Resorts Casino Hotel in Atlantic City, N.J., as their licensing partner for online sports betting in that state.
DraftKings expects to offer mobile and online sports betting in New Jersey by the start of the NFL season, it said.
About DraftKings
Boston, Massachusetts–based DraftKings was founded in 2012 by Matt Kalish, Paul Liberman, and Jason Robins. It offers sports games across 11 professional sports in the U.S., Canada, United Kingdom, Malta, Germany, Ireland, Austria, and Australia.
The company made headlines in New York when former New York State Attorney General Eric Schneiderman in November 2015 ordered both DraftKings and FanDuel to stop accepting online, daily fantasy sport bets inside New York.
Gov. Andrew Cuomo in August 2016 signed a bill that requires fantasy-sports companies to register with and operate under the regulations of the New York State Gaming Commission.
Del Lago, DraftKings forge deal for future sports betting
TYRE, N.Y. — Del Lago Resort & Casino has reached an agreement with DraftKings to provide a sportsbook at the casino once New York legalizes sports betting.
The agreement also enables the creation of a mobile and online sports-wagering option, once the state authorizes it, according to a joint news release issued Monday.
“New York is one of the largest revenue opportunities for future sports wagering operators and we are thrilled to partner with del Lago Resort & Casino to offer sports fans a unique and novel sports betting experience, both at a physical sportsbook and on mobile when permitted,” Jason Robins, CEO and co-founder of DraftKings, said.
A sportsbook is an establishment that takes bets on sporting events and pays out winnings.
DraftKings is “well positioned” to capitalize on the New York market through its “industry leading” technology and more than 10 million customers, the company contends. It began work on its sportsbook product a year ago following the U.S. Supreme Court’s decision to consider New Jersey’s challenge to the Professional and Amateur Sports Protection Act.
New Jersey won that case in May, meaning states can now decide if they want to allow gamblers to place bets on individual games.
Pending the adoption of a state law authorizing online sports wagering and corresponding regulations, DraftKings plans to “leverage its experience” in developing daily fantasy sports contests to launch a sports-betting app along with a web-based platform in New York.
“We see DraftKings as a fantastic and strategic partner in our sportsbook operation at del Lago Resort & Casino, and this deal represents a tremendous move forward for our property in general,” Brent Stevens, co-chairman of del Lago and CEO of Peninsula Pacific, said in the release.
Los Angeles, California–based Peninsula Pacific is del Lago’s development partner.
This is the second sports-wagering partnership DraftKings has secured, having announced a similar deal last month with Resorts Casino Hotel in Atlantic City, N.J., as their licensing partner for online sports betting in that state.
DraftKings expects to offer mobile and online sports betting in New Jersey by the start of the NFL season, it said.
About DraftKings
Boston, Massachusetts–based DraftKings was founded in 2012 by Matt Kalish, Paul Liberman, and Jason Robins. It offers sports games across 11 professional sports in the U.S., Canada, United Kingdom, Malta, Germany, Ireland, Austria, and Australia.
The company made headlines in New York when former New York State Attorney General Eric Schneiderman in November 2015 ordered both DraftKings and FanDuel to stop accepting online, daily fantasy sport bets inside New York.
Gov. Andrew Cuomo in August 2016 signed a bill that requires fantasy-sports companies to register with and operate under the regulations of the New York State Gaming Commission.
Gural wants to bring FanDuel Sportsbook to Tioga Downs
NICHOLS, N.Y. — Jeff Gural, owner of Tioga Downs Casino Resort in Nichols, hopes to bring a FanDuel Sportsbook for sports betting to the venue in Tioga County, as soon as New York regulators allow sports wagering in the state.
The New York City–based FanDuel Group has announced the grand opening of a Sportsbook location at the Meadowlands Racetrack in New Jersey, which Gural also owns, Tioga Downs said in a news release issued Monday. It opened to the public last Saturday following New Jersey’s legalization of sports wagering.
“Partnering with FanDuel Group and our proximity to New York City puts us in prime position to capitalize on the seemingly endless opportunities around sports betting,” Gural said.
Gural “looks forward to bringing this opportunity to Tioga Downs as soon as New York passes and writes legislation to allow for sports betting on property,” the release said.
Gural is chairman & CEO of Meadowlands Racing and Entertainment and serves in the same role for American Racing & Entertainment, which operates Tioga Downs.
The FanDuel Sportsbook will feature bets on all major U.S. sports, including professional baseball, soccer, football, basketball, golf, boxing, and motorsports racing, according to the release.
The Tioga Downs announcement was issued a few hours after del Lago Resort & Casino in Tyre had reached an agreement with Boston, Massachusetts–based DraftKings to provide a sportsbook at the casino once New York legalizes sports betting.
Amazon wants 1 million-square-foot distribution center in Rensselaer County
Amazon.com Inc. would fill a 1 million-square-foot distribution center that a developer wants to build in Schodack, New York, employing at least 800 people full-time when it opens in the third quarter of 2019.
Amazon's involvement in the project, which has been kept secret for weeks, was disclosed Monday night during a planning board meeting in the Rensselaer County town, about 15 miles east of Albany.
The announcement by Eric Murray, an Amazon representative, was met with applause from many people in the standing room-only crowd at town hall.
The developer, Scannell Properties of Indianapolis, and Amazon (Nasdaq: AMZN) had representatives at the meeting to provide further details about the huge project, which has generated opposition from some residents concerned about traffic and other impacts.
The Seattle-based online retailer is pursuing new warehouses across the country to speed deliveries, including the Northeast.
In a sign of how e-commerce has upended traditional retail stores, the Schodack facility, known as a fulfillment center, is designed to handle heavy, bulky items — such as TVs, kayaks and canoes — that don't easily fit in boxes on conveyor belts.
Despite the applause, it was clear from the public comments not everyone supports the project.
Barbara Spink, a town resident, was among those who expressed concerns.
“There will be a few executives and everyone else will be earning minimum wage,” Spink said. “We’re told these workers will infuse money into Schodack. These warehouse workers will not have the time or money to buy a burger in Schodack, let alone buy homes here.”
The 1,015,740-square-foot fulfillment center would be built on two adjoining parcels totaling 116.3 acres off Route 9, easily accessible from Exit 11 of Interstate 90.
The building would be 1,782 feet long — about one-third of a mile — according to an environmental assessment submitted to the town. It would have 30,500 square feet of office space, 95 loading docks, 300 tractor-trailer spaces and more than 1,000 employee parking spaces.
Amazon and Scannell are both working with officials at Empire State Development, the state's economic development agency, on an incentive package to offset the $100 million investment.
It would be the first state taxpayer-subsidy to create Amazon jobs in the Albany region. Statewide, up to $45 million in tax incentives has been offered to the retail giant to create 4,800 full-time jobs, mostly in New York City. The state and city are also offering unspecified incentives in a bid to land Amazon's second corporate headquarters.
Scannell Properties submitted an application to the Rensselaer County Industrial Development Agency seeking property tax breaks spread over 10 years, along with sales tax and mortgage tax exemptions.
The request seeks a deviation from the usual formula in which the property tax exemption gradually declines every year until the entire value is taxed. Scannell Properties wants a 50 percent reduction for the entire period, with the assessment frozen at $55 million, said Bob Pasinella, executive director of the IDA. The terms are being negotiated.
The project would generate more than $1 million in property taxes during the first year, considerably more than what the town, school district and county get now, according to Amazon representatives.
"They are a great community investor," Pasinella said. "They will invest in the community in other endeavors."
If built, the Amazon fulfillment center would be the second massive distribution facility in the rural town.
Hannaford has a warehouse off Exit 12 that has been expanded over the years. It's now 580,000 square feet, according to Hannaford.
Amazon wants 1 million-square-foot distribution center in Rensselaer County
Amazon.com Inc. would fill a 1 million-square-foot distribution center that a developer wants to build in Schodack, New York, employing at least 800 people full-time when it opens in the third quarter of 2019.
Amazon's involvement in the project, which has been kept secret for weeks, was disclosed Monday night during a planning board meeting in the Rensselaer County town, about 15 miles east of Albany.
The announcement by Eric Murray, an Amazon representative, was met with applause from many people in the standing room-only crowd at town hall.
The developer, Scannell Properties of Indianapolis, and Amazon (Nasdaq: AMZN) had representatives at the meeting to provide further details about the huge project, which has generated opposition from some residents concerned about traffic and other impacts.
The Seattle-based online retailer is pursuing new warehouses across the country to speed deliveries, including the Northeast.
In a sign of how e-commerce has upended traditional retail stores, the Schodack facility, known as a fulfillment center, is designed to handle heavy, bulky items — such as TVs, kayaks and canoes — that don't easily fit in boxes on conveyor belts.
Despite the applause, it was clear from the public comments not everyone supports the project.
Barbara Spink, a town resident, was among those who expressed concerns.
“There will be a few executives and everyone else will be earning minimum wage,” Spink said. “We’re told these workers will infuse money into Schodack. These warehouse workers will not have the time or money to buy a burger in Schodack, let alone buy homes here.”
The 1,015,740-square-foot fulfillment center would be built on two adjoining parcels totaling 116.3 acres off Route 9, easily accessible from Exit 11 of Interstate 90.
The building would be 1,782 feet long — about one-third of a mile — according to an environmental assessment submitted to the town. It would have 30,500 square feet of office space, 95 loading docks, 300 tractor-trailer spaces and more than 1,000 employee parking spaces.
Amazon and Scannell are both working with officials at Empire State Development, the state's economic development agency, on an incentive package to offset the $100 million investment.
It would be the first state taxpayer-subsidy to create Amazon jobs in the Albany region. Statewide, up to $45 million in tax incentives has been offered to the retail giant to create 4,800 full-time jobs, mostly in New York City. The state and city are also offering unspecified incentives in a bid to land Amazon's second corporate headquarters.
Scannell Properties submitted an application to the Rensselaer County Industrial Development Agency seeking property tax breaks spread over 10 years, along with sales tax and mortgage tax exemptions.
The request seeks a deviation from the usual formula in which the property tax exemption gradually declines every year until the entire value is taxed. Scannell Properties wants a 50 percent reduction for the entire period, with the assessment frozen at $55 million, said Bob Pasinella, executive director of the IDA. The terms are being negotiated.
The project would generate more than $1 million in property taxes during the first year, considerably more than what the town, school district and county get now, according to Amazon representatives.
"They are a great community investor," Pasinella said. "They will invest in the community in other endeavors."
If built, the Amazon fulfillment center would be the second massive distribution facility in the rural town.
Hannaford has a warehouse off Exit 12 that has been expanded over the years. It's now 580,000 square feet, according to Hannaford.
Amazon would generate $31 million in taxes for Schodack, study shows
The 800 jobs that would be created at a massive Amazon distribution center in rural Rensselaer County would have annual earnings of $22 million — about $27,600 on average per employee — according to an economic analysis.
The analysis was done on behalf of Scannell Properties of Indianapolis, which is seeking $13.7 million in tax breaks to offset the cost of building the $97.6 million distribution center in Schodack off Exit 11 of Interstate 90.
Amazon.com Inc. (Nasdaq: AMZN), the world's largest online retailer, would lease the 1 million-square-foot building from Scannell Properties.
The Schodack Planning Board has approved plans for the building on Route 9 and Hillcrest Avenue, but the tax incentive package is critical to the deal.
The distribution center would generate $31 million in net revenue over 20 years to the town, East Greenbush Central School District and other local taxing districts, according to the analysis by Camoin Associates of Saratoga Springs.
Schodak is a small town, with a population of about 13,000.
The total tax payments would be about $844,000 annually for the first 10 years, and then increase to more than $2 million annually during the last 10 years because of the way the deal is structured.
Most of the revenue over the 20 years, $25.1 million, would go to the school district since school taxes are the biggest share of property tax bills.
The project would also create 83 direct and indirect construction jobs with earnings of $7.5 million and generate $19.4 million in sales in Schodack.
The distribution center would also create 49 indirect jobs with earnings of $2.4 million, according to the analysis.
The Rensselaer County Industrial Development Agency held a public hearing this morning in Schodack Town Hall in which two people spoke in favor and four against the tax breaks, said Nadine Fuda, director of planning and zoning.
Residents who live near the proposed site are concerned about traffic and other impacts. They urged the town to do a full environmental impact statement, but the planning board chose not to. They also criticize giving tax breaks to a company leasing space to Seattle-based Amazon, which had $178 billion in revenue last year.
"Why do they not make enough profit to pay the taxes?" said Jennifer Williams, secretary of Birchwood Association, a local group fighting the plans.
The Rensselaer County IDA is separately negotiating a community benefits agreement with Scannell and Amazon, said Robert Pasinella, executive director. The agreement would provide a payment to the town to help offset the cost of additional municipal services and infrastructure.
The Amazon distribution center would be nearly twice the size of the 580,000-square-foot Hannaford warehouse in town.
Town assessment records indicate the building is 1 million square feet, Fuda said, but a Hannaford spokesman said today the correct figure is 580,000 square feet.
$55.9 million Ayco headquarters in Latham will grow, could add retail
A 150,000-square-foot, $55.9 million headquarters that Ayco wants to build near Route 9 in Latham, New York, will double in size when the financial services firm does a planned expansion.
Future phases could also include a retail development on the 57-acre site at 629 Columbia Street Ext., the former home of Starlite Music Theater.
Possible uses include restaurants, a day care, bank and small retail plaza, but no tenants have committed, said Dan Hershberg, consulting engineer.
The retail buildings were included as part of the environmental review just for illustrative purposes, Hershberg said. They are not included in the site plan approval that the developer, the Galesi Group, is seeking from the Colonie Planning Board.
"We’re not certain any of those uses are going to sign up for that particular site," Hershberg said.
The planning board held a public hearing Tuesday night on the proposed headquarters. Just three people spoke, Hershberg said. The planning board could vote on the site plan July 10.
Increased traffic has been a concern for some residents. The Galesi Group would build a new road connecting Route 9 and Columbia Street Extension (Route 9R), add a traffic light and make other improvements. Total cost is about $5 million.
Ayco, owned by Goldman Sachs Group Inc. (NYSE: GS), wants to consolidate more than 600 employees now spread among three buildings in Saratoga Springs, Colonie and Latham. A planned second phase would double the new headquarters to 300,000 square feet.
The developer is also seeking a permit from the state Department of Environmental Conservation to mitigate the loss of wetlands from construction of the building, connector road, and parking lots. The agency is now taking public comment on the permit request.
Once the regulatory approvals are received, the Galesi Group and Ayco will be seeking tax breaks from the Colonie Industrial Development Agency. An analysis ordered by the IDA says the headquarters would generate millions in spinoff economic benefits.
DeWITT, N.Y. — Advanced Motors and Drives is laying off 51 of 74 workers between August and March.
The DeWitt maker of electric pump motors filed a Worker Adjustment and Retraining Notification (WARN) notice with New York State on July 17.
According to the notice, the layoffs are slated to happen in August, when four workers will be let go; September, when another four will lose their jobs; December, when 11 people will be laid off; and March, when 32 workers will be left without jobs.
The company, located at 6268 East Molloy Road, said the reason for the layoffs was economic. The workers are not represented by a union.
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