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Regional Economic News

Nova Bus announces $60 million contract for 35 buses

January 14, 2010
Nova Bus has a contract with Connecticut Transit for 35 LFS articulated buses and an option for 35 more during a four-year period. The company said the order is valued at about $60 million. "We are proud to partner with CT Transit in delivering their first articulated vehicles for their fleet," Nova Bus Marketing Director Nadine Bernard said in a news release. "We are deeply committed to supplying them with the vehicles that meet their expectations."

[Full Story]

Pfizer extends Rouses Point lease through 2010

January 13, 2010
Pfizer has extended its lease of the Rouses Point manufacturing facility until the end of 2010. David Champagne, managing director of the Pfizer manufacturing facility in Rouses point, confirmed the company had extended its agreement with Akrimax Pharmaceuticals.

[Full Story]

Bombardier sees opportunities in high-speed rail plan

December 19, 2009
Bombardier Transportation sees an opportunity for its Plattsburgh plant if high-speed rail plans come to fruition. Alain Aumais, general manager at Bombardier Transportation in Plattsburgh, said the company is ready to work on high-speed rail equipment at the Plattsburgh plant and will purse contracts to do so.

[Full Story]

Students get solid foundation for new careers

December 19, 2009
A recent graduating class has a real solid foundation for future employment. The first class of the Solid Foundations program was honored at a graduation ceremony Thursday afternoon. Program Coordinator Ashley Cousens said the 11 graduates received instruction in carpentry, electrical work and plumbing, as well as introduction to welding and weatherization skills.

[Full Story]



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Quarterly Statistical Snapshot
Clinton County, New York

Characteristic Statistic Date
County Population 81,947 Jan., 2008
Civilian Labor Force 40,100 Nov., 2009
Unemployment Rate Clinton Co./Most Recent U.S. 8.7%/10.0% Nov., 2009
Per Capita Personal Income $29,500 2007
County Personal Income Earned $2,417,436,500 2007
Exchange Rate $U.S. per $1.00 Canadian 0.9682 Jan. 10, 2010
30 Year Fixed Mortgage Rate 5.15% Jan. 10, 2010
Plattsburgh Cost of Living as % of U.S. Average 100.10% May, 2009
Average Price of Regular Gasoline and Diesel Fuel $2.97/$3.09 Jan. 19, 2010
Median Home Price Plattsburgh $138,600 Jan. 19, 2010
Median Family Income $60,900 2009 estimate
Share of median family inc. to finance median home 13% 2009 estimate
Single Family Housing Permits 17 to Q3, 2009
Multi Family Housing Permits 6 to Q3, 2009
Total Housing Units 34,340 2005-07 est.
Owner Occupied Units 71.40% 2005-07 est.
Families Below Poverty Line 9.80% 2005-07 est.
High School Graduates 83.50% 2005-07 est.
College Graduates 22.10% 2005-07 est.
City property crime rate per thousand population 27.151  
City violent crime rate per thousand population 0.730  


When a job is more than a job

by Colin Read, January 25, 2010

Regional economists inevitably focus on jobs and job creation. This emphasis makes sense on one level because jobs provide income that puts food on the table. Payrolls from these jobs, when added to the income of businesses and to owners of property, and to the income of other factors of production, make up the bulk of our Gross Regional Product. However, not all jobs contribute equally to the regional economy. Economic symbiosis is also important.

[FULL STORY]

Filling in the hole

by Paul Grasso, January 18, 2010

A recent Bureau of Labor Statistics (BLS) report showed job losses to be moderating in November. With 7.8 million jobs lost since the beginning of the Great Recession in December of 2007, a loss of only 11,000 jobs in November is good news indeed. This news is on top of a positive revision to earlier data, showing that the labor market lost 159,000 fewer jobs in September and October than was previously thought. The "official" unemployment rate in December was 10.0%.

[FULL STORY]

Developing a Community Vision

by Colin Read, December 14, 2009

Communities are complex entities. Characterized by interests representing a wide diversity of thought and experience, and buffeted constantly by forces coming from every direction, our community rarely has an opportunity to actively define its future. Rather, communities often evolve through happenstance and serendipity, and cope with challenges coming from all directions. Once in a while, a community must come together to develop a common vision of its destiny, and to plan for a future that will outlive us all. Now is such a time.

[FULL STORY]

More state stimulus relief on its way?

by Paul Grasso, December 15, 2009

While there are signs of economic recovery on Wall Street, the unemployment lines on Main Street have yet to shorten. The unemployment rate nationally is currently 10% and is estimated by some to peak at about 11% next summer. Although, the national unemployment rate for November dropped from 10.2% to 10%, President Obama was still concerned enough to host a Jobs Summit at the White House this month. The invitation list included a mix of business leaders and academics. Notable by their absence were two groups that are prominent in advocating on behalf of small businesses, which many recognize as the engine that drives job growth.

[FULL STORY]

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