Rochester Business Journal Leading source of business news and information in Rochester, N.Y.

JCPenney is asking a bankruptcy judge to approve the closing of stores in Canandaigua and Batavia, part of retailer’s Chapter 11 financial reorganization that will pare its inventory of stores from around 850 to around 600. One of the largest ...

While a ballooning federal deficit will require attention in due time, it is more important now to address the needs of small businesses and families in order to avoid irreparable harm to the economy, according to U.S. Rep. Joe Morelle. Morelle ...

The April jobs report provided the first tangible sign of the devastation wrought by the COVID-19 pandemic on the Rochester economy. After a trickle of layoffs in March, job losses swelled to a torrent in April — with non-farm employment ...

Gov. Andrew Cuomo today gave permission to the Finger Lakes and four other regions in New York to proceed with Phase 2 of the economic reopening. That means offices, real estate, retail, hair salons and barbershops, automobiles sales, commercial building ...

The COVID-19 pandemic has wreaked havoc across continents and counties, sectors and services, farms and families. But the comeback of one industry, at least locally, means good things for consumers. “The buyer now is in the driver’s seat,” said Richard ...

Trillium Health Inc. plans to eliminate 33 jobs as a result of the recent economic upheaval brought on by the COVID-19 pandemic, the nonprofit health center said Thursday. The cuts represent 12 percent of the agency’s workforce. “This is an ...

Tagged with: covid job cuts nonprofit trillium trillium health

As the construction and real estate industries reopen, local leaders say lessons they learned while trying to do business during the stay-at-home orders are changing how their businesses will operate going forward. Lee Sommerman, vice president with LeChase Construction Services ...

Nearly two-thirds of business owners nationwide feel the worst is behind them in terms of the impact of COVID-19 on their operations, new research from Paychex Inc. shows. But 4 in 5 business owners are somewhat or very concerned about ...

Tagged with: covid Paychex

Around 4.2 million homeowners nationwide are now in forbearance, although the number rose more modestly during the most recent reporting period. The Mortgage Bankers Association (MBA) said the number of loans in forbearance climbed to 8.36 percent in the week ...

The Finger Lakes Region is on target for a Friday implementation of Phase 2 of the state’s reopening, but hospitalization and new-case metrics related to the coronavirus pandemic will ultimately determine whether Gov. Andrew Cuomo gives the go-ahead. “I think ...

A new, $100 million business loan program will target small businesses focusing on MWBEs, nonprofits and small landlords that did not receive federal COVID-19 assistance, Gov. Andrew Cuomo said on Friday. Eligible nonprofits can apply for a 60-month, no-fee loan ...

Tagged with: covid loans new york forward loan fund ppp

Projected shortfalls in sales tax revenue aren’t as dire as Monroe County Executive Adam Bello initially feared, but measures are underway to find nearly $47.6 million in cost savings and thus avoid a property tax increase in 2021. A hiring ...

Having already acted to ward off a potential catastrophic collapse of the global economy, the Federal Reserve is now focused on ensuring a rebound of the U.S. economy once the coronavirus pandemic subsides. The vast array of aid packages already ...

Local government and education officials, their revenue streams choked off by the economic turmoil caused by the coronavirus pandemic, warned that significant cuts to public safety, social service programs and teachers are looming if Congress does not provide relief. “We ...

More than 100 businesses in Genesee County responded to a recent economic survey, with nearly two-thirds indicating they had applied for financial assistance during the COVID-19 crisis. The Genesee County Economic Development Center, Genesee County Chamber of Commerce, the Batavia ...

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