Tagged: manufacturing

The recent growth in New York's manufacturing sector has slowed, but economists say it's not all bad news.

"I wouldn't make too much out of just one month. It still is indicating growth," says Richard Deitz, senior economist at the Federal Reserve Bank of New York.

On Monday, the New York Fed released the April edition of its Empire State Manufacturing Survey [PDF].

After four months of steady growth, the Fed's "business conditions index" saw a 14-point drop. Still, the overall outlook remains positive. 

Deitz says manufacturing employment continued to increase, though unevenly in different parts of the state.

For the first time in a long time, political observers had been eyeing New York’s Republican Presidential Primary - wondering if it might actually have an impact on the 2012 race for the White House.

But as New York’s April 24 primary draws near, it appears the nominee has all but been decided before a single ballot is cast. 

With Mitt Romney now the only major candidate left in the race, we look at how his stance on key economic issues could affect upstate New York.

The Obama administration wants to cut a $50 million program at the U.S. Department of Energy (DOE).

Sen. Chuck Schumer (D-NY) does not.

"It would mean that all the research and development that the federal government helped fund would go down the drain," Schumer said Monday. "How dumb!"

Speaking in front of a massive semitruck at the Delphi plant in Henrietta, N.Y., Schumer announced efforts to fight a proposed cut in the 2013 budget.

Schumer says the move would hinder efforts by Delphi to produce its solid oxide fuel cell. The device is designed to power the electrical systems in today's big rigs.

"The kind of funding that Delphi depends on could run dry," Schumer said, "leaving Delphi and its fuel cell technology a yard short of the goal line."

A top business official in the Obama administration will be speaking to the International Business Council of Greater Rochester Friday.

The goal is to raise awareness of the federal programs that can help small businesses boost foreign sales.

"We want to make sure small businesses are not left behind," says Fred Hochberg, president and chairman of the Export-Import Bank of the United States (Ex-Im Bank).

Standing in a Syracuse union hall that will close later this year, Sen. Kirsten Gillibrand announced support Monday for a bill that would allow the U.S. government to slap tariffs on foreign-made auto parts.

United Auto Workers Local 624 and 2149 once supported about 4,000 workers at nearby New Process Gear. The factory, which makes parts for SUVs, is also slated to shut down later this year.

Union leaders say Gillibrand's efforts may be too late for New Process Gear, but they could help other plants in upstate New York.