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TOP RANKS: GREATER BINGHAMTON HOTELS / 7

Marietta Corp: From sauerkraut to serendipity. Page 3.

Nonprofit Corner: Chenango Arts Council. Page 4.

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Traditions turns to the Senecas to run its proposed casino

BY NORMAN POLTENSONJOURNAL STAFF

JOHNSON CITY — On May 22, representatives of Traditions Resort & Casino, LLC announced the establishment of a strategic relationship with Gaming & Leisure Advisors, LLC, a New York state, for-profit subsidiary of Seneca Gaming Corp. (SGC).

According to SGC spokesman Phil Pantano, Gaming & Leisure Advisors would be paid a management fee for “running the gaming floor and associ-ated amenities, including valet parking, restaurants, and retail.”

The fee would be determined on a percentage basis, but there was no dis-closure of whether it was based on rev-enues, profits, or another benchmark. Neither SGC nor Traditions committed to stating the length of the agreement, other than it was “long-term,” but did say that at this point SGC has no equity position. William Walsh, the CEO of Traditions, says he had interviewed more than a dozen operators before choosing SGC.

Traditions Resort & Casino is owned by the Walsh family. The Traditions facility currently includes a golf course, conference center, hotel, and spa. Traditions Resort & Casino is pursuing a gaming license from New York State, one of four available Upstate. Upon receipt of the license, the resort and conference center proposes to invest $150 million to build a casino and to make other planned addi-

See TRADITIONS, page 6

Walsh

Walker

CVT expands Sherburne plant

BY NORMAN POLTENSONJOURNAL STAFF

SHERBURNE — Chenango Valley Technologies, Inc. (CVT) is bursting at the seams. Inventory and cus-tomer orders are stacked to the ceil-ing in the warehouse, requiring the business to add another 5,000 feet of space.

“The project should be completed by July 25,” says, Shawn A. Baker, company president.

The 5,000-foot expansion at CVT is a pre-engineered, metal building. The contractor is All Wall Builders located in DeWitt.

CVT is a custom, injection-molding company that manufactures plastic parts. The parts are sold to a variety of industries, including medical, elec-tronics, lawn and gardening, cosmet-ic, consumer, automotive, marine, and recreational-vehicle. CVT, which was founded in 1972 by Shawn Baker’s fa-ther Lloyd as a tool-and-die company, is a full-service, single-source opera-tion offering part-design, mold/tool design, mold-making, hot stamping, sonic welding, assembly, and injec-tion molding.

Lloyd Baker, company CEO, made a strategic move in 1995 when he bought Madison Plastics, a long-established custom-injection mold-ing firm based in Verona. Today,

CVT employs 45 people and runs three shifts for its customers, some of whom have been with the busi-ness for more than 30 years. When the new addition is completed, the plant will occupy 30,000 square feet on a 15-acre parcel. The building and land are owned by CVT, an “S-corp” whose stockholders are the Baker family. The Business Journal News Network estimates CVT’s annual rev-enue at more than $5 million.

“Our growth has been steady,” says Shawn Baker. “The company even grew during the [recent] reces-sion. I feel more comfortable with

controlled growth, because I like to sleep at night … The strategy is to continue growing by focusing first on new projects with our existing customer base and second on new business. The key is to get involved with a project as early as possible, es-pecially in the design phase. We have a diversified group of customers, pri-marily located within 200 miles of the plant.”

Baker attributes the company’s growth to his employees. “I depend a great deal on the management

NORMAN POLTENSON/THE GREATER BINGHAMTON BUSINESS JOURNAL

Shawn Baker, president of Chenango Valley Technologies (CVT), right, stands near one of the company’s 16 injection-molding machines and its operator, left. CVT is adding 5,000 square feet of warehouse space to accommodate its growth.

See CVT, page 7

2 • The Greater Binghamton Business Journal June 27, 2014

By NormaN PolteNsoNJournal Staff

OWEGO — Hollywood has its Oscars recog-nizing the best films; television has its Emmys to applaud the best TV programs; and the global metals industry has its Platts to desig-nate the best metals company of the year.

The Platts Global Metals Award is a com-petitive program honoring excellence and ac-complishments in the global metals industry. The judges base their selection on the com-pany’s 2013 achievements, financial results, leadership, integrity, job growth, technological innovation, strategic vision, and operational excellence. A black-tie gala event was held on May 21 at the posh Plaisterers’ Hall in central London, where Adam Weitsman, the CEO and owner of Upstate Shredding, and seven other company employees accepted the industry leadership award for scrap and recycling. Platts, a publication that covers recycling worldwide, is owned by the McGraw–Hill Companies.

“I was astounded,” confesses Weitsman. “It was like David and Goliath. Upstate was clearly the underdog up against large compa-nies, many publicly held. It’s both humbling and the highlight of my career. By making sound decisions and assembling some of the hardest-working people in the scrap business, we’ve had an amazing period of growth.”

Last year was a substantial growth year for Upstate Shredding and Weitsman Recycling, a sister company that deals with the retail side of the business. Upstate Shredding processes everything from refrigerators to commercial jets. “We closed on the Ferromet site in New Castle,” notes Weitsman, “which opened up western Pennsylvania [and eastern Ohio]. Construction on the New Castle shredder should begin in 45 days … Upstate also bought Valley Recycling in Allegany County, Hornell Waste Material Co., Capitol Scrap in Albany, Brant located 30 miles south of Buffalo, and Reamer Recycling in Ithaca. (Some of the deals didn’t close until 2014.)

“Our growth in Albany has been much faster than expected,” Weitsman continues. “The stra-tegic plan calls for building our third shredder in Albany as soon as we complete the New Castle shredder construction … The Albany location now positions us to ship our scrap worldwide without depending on a middleman.” Last year also included negotiations, which are ongoing, with the company that holds the master lease at the Port of Newark. The purpose is to allow ships loaded at Weitsman–Albany to take on additional cargo in Newark before proceeding out to sea.

Growth trajectoryUpstate Shredding’s meteoric growth last

year is continuing into 2014. “In the first quar-ter, our [scrap] tonnage is up 27 percent and our revenues are up 22 percent [over the same period last year],” declares Weitsman. “I’m projecting that gross revenues this year should reach $800 million … What we need to do now is consolidate and manage the recent growth and … [defer] further acquisitions in the short term. That means focusing on [operational] areas such as environmental compliance, truck-ing, and extending our hours [to the public].” Upstate Shredding currently has 18 locations in New York and Pennsylvania and expects to increase its employment from 400 to 500 once the New Castle shredder comes on line.

Upstate Shredding has assembled a profes-sional management team to guide the fast-growing company. In addition to Weitsman, the team includes Stephen Green as president, Joel Root as vice president and senior buyer, Dan Innarella as CFO, Bill Dizer as vice presi-dent for the Main Street operation in Owego, Kim Weitsman to handle accounts receivable and rail shipments, Natasja Bowman as export manager, and Stephen Donnelly as the direc-

tor of marketing and public relations.Adam Weitsman, whose grandfather found-

ed the company in 1938, joined his father in the business in the 1990s. At that time, with two lo-cations and 30 employees, Ben Weitsman & Son generated $3 million a year in revenue. Adam Weitsman bought the company in 2005 and created Upstate Shredding to complement the retail business. “Most of the company’s growth has come just in the last five years,” emphasizes Weitsman. “In the last three years, we have doubled our sales and our geography. We cur-rently process more than 1 million tons of fer-rous metals and more than 250 million pounds of non-ferrous materials.” Upstate Shredding is the largest, privately held scrap-metal processor on the East Coast. Recycling Today magazine ranks Upstate Shredding 18th among the larg-est ferrous-scrap processors in the U.S. and Canada. “I expect by the end of 2014 we will be ranked in the top 15,” Weitsman says.

Weitsman, 46, has grown his business over the past decade without any government as-sistance. His sights are set on cracking the billion-dollar sales level by shredding both more scrap and his competition. q

Contact Poltenson at poltenson@tgbbj.com

Upstate Shredding wins international industry award

photo courtesy of upstate shredding

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Binghamton University sees surge in international grad-student applications

VESTAL — Binghamton University’s Graduate School received a 26 percent increase in applications from international students over the past year, compared to 7 percent growth nationally, the school said in a news release, citing data from the Council of Graduate Schools (CGS).

The 2014 CGS survey collects data on all international graduate applications.

Binghamton University said it has out-performed its peers for the second year in a row. In 2013, international graduate applications to Binghamton University increased 29 percent, compared with 1 percent nationally.

“This massive growth is not a coinci-dence,” Susan Strehle, vice provost and dean of the Graduate School, said in the release. “Our new application, upgrades to our Electronic Graduate Admission Decision System, streamlined admissions procedures, online marketing, and social media in other languages, as well as the dedication of our staff and the hard work of schools and departments are respon-sible for this achievement.”

Measuring individual graduate pro-grams in the 2014 school year, Binghamton University’s education (up 89 percent), physical and earth sciences (up 51 per-cent), and engineering (up 25 percent) programs posted the largest increases in applications from international students.

News of note for and about Greater Binghamton businesses adam and Kim

Weitsman pose at Plaisterers’ Hall in

london. on may 21, the couple ac-cepted the Platts

Global metals award .

email your company newsto news@tgbbj.com

June 27, 2014 The Greater Binghamton Business Journal • 3

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Marietta: From sauerkraut to serendipityBy NormaN PolteNsoN

Journal Staff

CORTLAND — Manny Siegle was a farm-er in Marietta who grew cabbages. In the 1970s, his dream was to package sauer-kraut in plastic packets for sale to consum-ers. Siegle bought a packaging machine, but soon discovered that the sauerkraut wouldn’t cooperate: strings of the cabbage inhibited the sealing process. Undeterred, he looked for another commercial applica-tion and saw potential in sample packaging for the hospitality industry. Siegle’s ser-endipitous experience spawned the guest-amenities industry in America.

Marietta was incorporated on Oct. 18, 1976, as the Marietta Packaging Co. Siegle’s lone packing machine has grown to 60 fill-ing lines just at the two plants in Cortland. The original business — manufacturing the small, personal-care amenities found in hotels — has now expanded positioning Marietta as a major player in the contract-manufacturing and hotel-amenity market segments. Today, one-third of Marietta’s revenue comes from the original amenities business and two-thirds emanates from con-tract manufacturing of personal-care and household products.

From its start with six employees, one machine, and no orders, the company has grown to be an industry leader.

“Marietta employs 1,100 permanent, full-time workers, and currently we have hired another 300 seasonally,” says Donald W.

Sturdivant, CEO of Marietta. “In Cortland, we employ about 650 to 700 [perma-nent employees]. Our revenue is almost $300 million [annually], and the company

owns or leases about 2 million square feet of space in five locations.

In Cortland, we have two buildings with more than 600,000 square feet where we

manufacture everything except bar soap. Chicago produces mostly household prod-ucts; Vernon (20 miles east of Los Angeles) focuses on personal-care items; and Olive Branch, Miss. ships 300 million bars of soap annually, of which 85 percent is for hotel amenities. The Munich, Germany location, which we opened three years ago, serves as a sales-and-service office focus-ing on global and independent-hospitality clients … Companywide, Marietta ships 1 billion units annually to 24 countries.”

The official company name is Marietta Holding Corp., which is a “C-corp.,” incor-porated in Delaware.

The Cortland packager is owned by Ares Management, L.P., a publicly traded company (NYSE: ARES) with $74 billion of assets under management and 700 employ-ees located in offices in the U.S., Europe, and Asia. Ares bought Marietta in 2004. According to the Ares website, “We seek compelling investments in leading com-panies that typically have not maximized their growth potential.” The stock is also owned by G.E. Capital and by the Marietta management team. Ares has the control-ling interest.

Competition Marietta’s growth has come despite

fierce competition. “The guest-amenities business in North America is probably $500 million,” notes Sturdivant. “Our chief

norman poltenson/the greater binghamton business journal

marietta Corp. employees work on one of scores of packaging lines at one of its Cortland plants. the company is a leader in the hotel amenities, personal-care, and household-liquids industries.

see marietta, page 5

4 • The Greater Binghamton Business Journal June 27, 2014

Profiling local

nonprofit organizations

NonprofitFINANCIAL DATA

Fiscal year ending June 30, 2013Chenango Arts Council 27 West Main St.

Norwich, NY 13815

Phone: (607) 336-2787

Chenangoarts.orgKEY STAFF

Executive Director Victoria Calvert Kappel (until 6/30/14)

Executive Director Diane Batson-Smith (starting 7/1/14)

Executive-director’s compensation from 2013 IRS 990 $55,835

Program Director Michelle Connelly

Operations Manager Joyce Zummo

BOARD OF TRUSTEES OFFICERSPRESIDENT

Lisa Natoli Natoli & Natoli Law

VICE PRESIDENT

Van Mason retired educator

TREASURER

Joseph Skundrich NBT Bank

SECRETARY

Jeff Genung Chobani, Inc.

BOARD MEMBERSSheila Briglin community volunteer

Donald Brown, II Chobani

Ann Coe Norwich Business Improvement District

Stephanie Coggins community volunteer

Henry Drexler artist

Mary El Emerson community volunteer

Alexandra Erath Voss Group

Emma Golden Golden Foundation

Geoff Magnani retired educator

Michael McCormack Norwich/Sidney Pennysaver

F. Sheldon Prentice NBT Bank

Edith Revoir Area Agency on Aging

Dominic Shea Wells Fargo Advisors

Grayson Stevens retired educator

MISSIONThe Chenango Arts Council says it supports life-enriching art throughout the greater Chenango region.

PROGRAMS & SERVICESPerformance series, gallery series, decentralization funding for Chenango, Broome, and Otsego counties, classes and workshops for all ages, special events.

RECENT ORGANIZATIONAL HIGHLIGHTSLong-time executive director, Victoria Calvert Kappel, is leaving the council after 15 years service. She will be replaced by Diane Batson-Smith, an arts administrator with career highlights spanning several cultural sectors.

PLANNING/FUNDRAISING OUTLOOK FOR 2014:Semi-annual benefit, “Parked Under the Stars,” planned for November 2014, annual 5K Allegro Run for the Arts takes place each May, additional fundraisers and grant-seeking efforts are ongoing.

Revenue SourcesContributions & Grants $264,877Program Services $26,779Investment Income $25,558Other $57,083

Total Revenue $374,297

ExpendituresGrants Paid $94,700Salaries & Employee Benefits $135,479Other $159,753

Total Expenses $389,932Deficit for the Year -$15,635

BY NICOLE COLLINSJOURNAL STAFF

NORWICH — The Chenango Arts Council is gearing up for new leadership.

On June 30, Victoria Calvert Kappel, executive director, steps down from her position after 15 years to explore new opportunities.

The Chenango Arts Council (CAC) has been a community anchor for par-ticipation, education, and quality of life in Chenango County for the last four decades, says Kappel.

Kappel attributes a lot of the success and stability of the organization to the long-term leadership it has had. For 34 of its 40 years, CAC has had only two executive directors, Kappel and Lucy Funke, who served for 19 years prior to Kappel. In addition to the steady man-agement, Kappel also praises the work of a consistent, strong board of directors who “get the organization and have no hidden agendas.”

Prior to moving to Norwich from Chicago in 1999, Kappel was already famil-iar with upstate New York from visiting her sister who lives in Greig in Lewis County. In fact, Kappel liked the area so much that she and her husband were married in Constableville, also in Lewis County. Then, when she was ready for a change from Chicago, upstate New York was on her list of places to peruse for a new career.

As much as the position was the right fit for her 15 years ago, Kappel knows that stepping down at this time is also the right move. Wanting the board to have enough time to find her replace-ment, at the January board meeting, Kappel announced her decision to leave at the end of the fiscal year, June 30. Before the end of January, the selection committee had already met to put in mo-tion the executive search.

Though she is not retiring or plan-ning on leaving the region right away, Kappel says she’s looking forward to the next thing, though she’s not quite sure what that is yet. “All things are possible,” she says.

Kappel recalls her time at CAC fondly, saying “It was a good fit, a happy fit.”

As for the board’s new executive di-

rector selection, Kappel says, “I heartily agree with their choice.”

The new leaderOn July 1, Diane Batson-Smith joins

CAC as the new executive director. She fills the third full-time staff position alongside program director Michelle Connelly and operations manager Joyce Zummo.

Most recently coming from the Martina Arroyo Foundation in New York City as its executive director, Batson-Smith’s background also includes pro-ducing movies in Hollywood, managing the Clarksville Arts and Heritage Council in Clarksville, Tenn., and acting as the designated agent for the Tennessee Arts Commission to grant funds throughout Tennessee.

Batson-Smith looks forward to working and living in Norwich, and says she plans on finding a place to live that’s within walking distance to the office.

“People here are seeped into what the arts can do for the community,” Batson-Smith says. “There’s a lot of potential here.”

She hopes to use her background to expand the program repertoire that CAC can offer, potentially including a film series, a theater program for new plays, and more outreach to the schools and communities the council serves. “Of course, one does not do this work alone, so the board would have to agree and the staff as well, as it does often create more work,” says Batson-Smith.

Her career expertise in the arts goes beyond theater, film, and education out-reach; she also designs hand-sewn heri-tage wool quilts. In 2013, Batson-Smith formed a small textile business, NY Textile Company, with her son, which will now be located in Chenango County. The fabric for her quilts is made by Thistle Hill Weavers, a small custom-weaving mill in Cherry Valley, in Otsego County.

Council operationsA focus on earned income will be a

big priority for the CAC board moving forward, with facility rentals and online tickets sales as two opportunities Kappel sees for growth in this area. The coun-cil’s theater, gallery, conference room, and studio classroom are all available for the public to rent. CAC organizational members can use the William J. Hall Conference Room once a month for

meeting purposes at no charge. Located at 27 West Main St. in down-

town Norwich, in a building that used to house Norwich High School, CAC occupies 10,601 square feet on the first floor of what is now called the Norwich Center Office Plaza. The structure is managed by the Chenango Housing Improvement Program. The other half of the former school is occupied by Norwich Senior Housing.

The Chenango Arts Council’s main of-fice used to be the high school principal’s office, the gallery was once the cafeteria, and the former school auditorium is now the 514-seat Martin W. Kappel Theater,

named for Kappel’s late husband.

Martin Kappel worked as the technical director for CAC. After he passed away, the board voted to name the theater in his honor.

Expanding the staff is also a goal for the CAC, though Kappel says when

it will happen depends on state funding, which the nonprofit will not know about until December. The next hire for the council will concentrate on facility rent-als and earned income opportunities.

Kappel says she has also done every-thing she can operations-wise to make sure that Batson-Smith’s transition is as smooth as possible, including already having the budget and season set for the next fiscal year. “She’s not going to have to play catch-up,” says Kappel.

CAC’s annual budget ranges from $350,000 to $375,000. The budget doesn’t vary much from year to year, says Kappel. Almost $100,000 of the bud-get represents pass-through funds for the decentralization grants distributed each year.

A program of the New York State Council on the Arts (NYSCA), decen-tralization grants support local decision-making in public-arts funding for arts and cultural organization across every county in the state. CAC operates as the decentralization site for Chenango, Broome, and Otsego counties, and has $99,400 allocated for a three-year cycle.

In April, CAC distributed this year’s funds to 54 nonprofit organizations and artists in the three counties. This year, the Stewart W. and Willma C. Hoyt Foundation in Binghamton provided an additional $10,000 for funding in Broome County. q

Contact Collins at ncollins@tgbbj.com

CornerA Change in Leadership at the Chenango Arts Council

Chenango Arts Council factsn Founded: 1975n Employees: 3 full timen Volunteers: 35n Service Area: Chenango, Broome, and Otsego counties

Kappel Batson-Smith

June 27, 2014 The Greater Binghamton Business Journal • 5

competitors are Guest Supply [a global provider to 25,000 hotels in 88 countries, owned by Sysco], Gilchrist & Soames, and Hunter [Amenities International]. In the area of contract manufacturing for personal-care and household liquids, which is a much larger market in North America at perhaps $2 billion, we compete with KIK [a custom-products manufacturer with more than 3,000 employees operating from 17 manufacturing facilities in North America], the Knowlton Development Corp., and a number of single-plant companies in North America.”

Despite substantial competition, Sturdivant attributes Marietta’s growth in part to following its marketing strategy.

“We focus on the large CPG (consumer-packaged goods) companies, which have diverse needs across North America. With multiple locations spread throughout the country, we have a wide geographic ca-pability and a breadth of manufacturing capability. In other words, we’re a one-stop shop … The company also has a competitive advantage with our access to [recognized] brands and a focus on mid-size and upscale hotels. That’s really our sweet spot,” Sturdivant says. “Then too, Marietta competes well because of the scale of our manufacturing and because we have a strong balance sheet. Our custom-ers are increasingly interested in partner-ing with us on new ventures where both the customer and the manufacturer share a capital investment. They want us to have some skin in the game.”

Also critical to Marietta’s success is its emphasis on R&D. “Our customers are always demanding new products,” posits Marietta’s CEO. “That means innovation in our formulations and innovation in pack-age development. The customers want us to come up with quick solutions. We’re … [geared] for speed, flexibility, and agility, unlike the big companies which prefer the safer route of letting smaller companies try something new and then reformulating the product or buying the company after the public has accepted the product. Marietta has 12 employees with backgrounds in chemical, mechanical, project, and quality engineering who are dedicated to R&D, and the company spends more than $1 mil-lion a year in this area.”

The industry is increasingly going green, and Marietta is responsive to the market-place. “The majority of our hospitality com-petition makes tubes and bottles off-shore,” observes Sturdivant. “We are constantly working to reduce the amount of product used in the manufacturing process, and to date, the company has eliminated about 20 percent of the resin content in its packag-ing. Marietta, too, has a lighter carbon footprint than our off-shore competitors, because our shipping distances are shorter. And we are always trying to find environ-mentally friendly raw materials to use in the manufacturing process. The Cortland facility is currently running seven, extru-sion, blow-molding lines with our partner ALPLA.”

ALPLA is a packaging-systems company headquartered in Austria, which employs 15,300 in 152 plants located in 40 countries. ALPLA generated $4.2 billion in revenue

last year. The company sets up and oper-ates special packaging lines located inside the manufacturer’s facility.

GrowthMarietta’s current sales performance is

attributable to organic growth. The com-pany has made just three acquisitions in its 37-year history. In 1989, it bought the American Soap Co. in Mississippi; in 1990, it acquired the Hospitality Amenities Group in Canada; and in 2005, it acquired PAC/Cynus, adding significant manufacturing assets in California and Illinois. Sturdivant says that he and his team have come close on three or four deals, but none material-ized. He spends between 5 percent and 10 percent of his time looking for acquisitions that fit Marietta’s target profile.

Staying focused on the company’s mar-keting strategy and R&D efforts is impor-tant to Marietta’s growth. So is the Marietta leadership team. In addition to Sturdivant, Perry Morgan is the CFO; Beth Corl is the senior vice president of human resources; Chris Calhoun is the senior vice president of quality and regulatory affairs; David Hempson is the senior vice president of business development; and Ray Ferretti is the vice president for sales and marketing, global accounts.

“The leadership team drives the com-pany,” affirms Sturdivant, “but our success is ultimately based on our employees. We strive to make this a great place to work. It’s not just that we pay competitive wages and

benefits; it’s also the friendly work climate. A large number of those who leave the area and return come right back here to work. We spend a lot of time and money training our people not just during their ‘on-board-ing,’ but also on subjects such as safety, the environment, and company policies after their initial training. It’s important enough to us that we have trainers on staff and a software program called ‘ComplianceWire’ that tracks each employee’s progress, in-cluding mine.”

Sturdivant, 53, joined Marietta as CEO in February 2009. Prior to that, he was the COO at Altivity Packaging Corp., a compa-ny with sales of $2.3 billion and more than 8,000 employees, and the COO of Graphic Packaging International, a company with sales of $2.2 billion and 8,000 employees. He earned his bachelor’s degree from the University of Maine and an M.B.A. from the Florida Institute of Technology. Sturdivant was an officer in the U.S. Army, serving in the chemical corps. He resides in Chicago with his wife Nicki. The couple has six children.

Our thanks to the Chinese who 2,000 years ago created sauerkraut, and to Manny Siegle’s packaging machine which couldn’t seal the cabbage product. The outcome was truly serendipitous and fortunate: a new industry and the Marietta Corp., which is poised for further growth. q

Contact Poltenson at npoltenson@tgbbj.com

MARIETTA: Also critical to Marietta’s success is its emphasis on R&D

Continued from page 3

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corporation of the Seneca Nation of Indians. In 2002, the Nation entered into the Nation–State Gaming Compact with New York State, which granted the Nation the exclusive right to build and operate three, Class-III, gaming facilities in Western New York. In August of that year, the Nation chartered SGC to man-age its gaming operations.

In 2002, the Seneca Nation also char-tered the Seneca Niagara Falls Gaming Corporation, a subsidiary of SGC, which opened Seneca Niagara Casino on Dec. 31, 2002, and a 26-story hotel on Dec. 30, 2005. In August 2003, the Nation chartered the Seneca Territory Gaming Corporation as a subsidiary of SGC to manage the Seneca Allegany Casino in Salamanca (STGC). STGC opened the Seneca Allegany Casino on May 1, 2004, and an expanded casino and hotel on March 30, 2007.

The Nation chartered the Seneca Erie Gaming Corporation, another SGC subsid-iary, in September 2003. In October 2005, the Seneca Nation acquired 9 acres of land in the Inner Harbor of downtown Buffalo and opened a temporary Seneca Buffalo Creek Casino in July 2007. The facility was expand-ed in 2008 and 2010. In March 2012, SGC un-veiled a re-designed, $130 million permanent

casino which was officially opened in 2013. SGC also operates the Seneca Hickory Stick Golf Course in Lewiston, N.Y.

Today, SGC, headquartered in Niagara Falls, employs about 4,000 people and oper-ates about 6,500 slot machines; 150 table games; 1,000 hotel rooms; multiple restau-rants; two multi-purpose, entertainment and special-event facilities; and related retail ame-nities, including a crystal outlet and candle shop in Niagara Falls.

“The [capital] investment is well over $1.2 billion to date, and SGC invests [on average] $30 million a year to upgrade its facilities,” says Pantano. He goes on to say that “the annual payroll is more than $133 million, and SGC spends in excess of $100 million a year with vendors in Western New York.” The Business Journal News Network estimates that SGC’s an-nual revenue is between $400 million and $500 million. The three Seneca properties attract about 15 million visitors annually.

Since April 2009, Seneca Gaming Corp. has been led by Catherine A. Walker, the company’s current president and CEO. Starting in April 2008, Walker had served as COO. Before joining SGC, her career included management roles at Trump Hotels & Casinos, Harrahs, and Players Lake Charles LLC. She began her career on the legal staff of the New Jersey Gaming Commission. David Sheridan was appointed CFO in July 2008. He formerly worked as the CFO of the Oneida Indian Nation, including responsibility for the Turning Stone Resort & Casino. Sheridan is a CPA who started his career at PricewaterhouseCoopers in Syracuse. Kirstin Lowry Sommers was ap-

pointed general counsel at SGC in December 2011. Before joining SGC, she was a litigator whose work included complex commercial and securities matters.

SGC’s rapid growth was financed by $500 million of 7.25 percent senior notes, due in May 2012. The company refinanced its obligations in November 2010 through the issuance of a combination of a new $325 million in senior notes and a new $225 million senior-secured credit facility. The funds were used to retire the original debt including a $50 million, senior-secured line-of-credit. The initial blend rate was less than 7 percent, a reduction in the cost of SGC’s borrowing. The $225 million, five-year bank credit facility was completed with a syn-dicate of six banks. The 8.25 percent senior notes are scheduled to be retired in 2018. Tribal Financial Advisors acted as financial advisor to SGC on securing the financing.

A firstThe agreement between Traditions and

Gaming & Leisure Advisors is SGC’s first contract to manage a casino not owned by the Seneca Nation. But it’s not the only re-cent move by SGC. In March, the company spent $2.75 million to buy 32 acres of land in Henrietta, near Interstate-390. SGC says it has no plans yet to develop the area, but it is large enough to contain a gaming destination complete with casino, hotel, entertainment facilities, restaurants, retail, and other ameni-ties. The Seneca Nation’s compact with New York state limits the tribe to three venues, which are already in operation. When asked whether the Seneca Nation was in contact with Gov. Andrew Cuomo to allow a fourth

venue, Pantano responded with no com-ment.

CompetitionTraditions and SGC are vying with two

competitors for the gaming license. Jeff Gural, who owns Tioga Downs Racino in Nichols (Owego County), has also paid $1 million for the privilege of applying for a license. On June 6, he announced the “all-in” coalition of re-gional business and government leaders who support his bid. According to an article in the Ithaca Journal, Gural says he has support from 29 towns and villages, seven labor unions, 10 chambers of commerce and tourism councils, 22 economic-development organizations, and numerous businesses. Tioga Downs expects to invest $90 million in the project, including a 140-room hotel.

Rochester–based Wilmorite Corp. has also applied for a gaming license. The com-pany proposes to build a $350 million facility in Tyre in Seneca County, with 2,000 slot machines, 100 gambling tables, and a 200-room hotel.

In a teleconference on June 9, Traditions Resort’s Walsh indicated that applications for the gaming license were due by June 30. He said that SGC had been a big help in completing the forms. He went on to say the oral presentations were set for the week after Labor Day and a final decision would be rendered no later than October. “If we are successful,” says Walsh, “Traditions is ready to break ground in a few days and open [the doors] within a year.” q

Contact Poltenson at npoltenson@tgbbj.com

TRADITIONS: Today, SGC, headquartered in Niagara Falls, employs about 4,000 peopleContinued from page 1

June 27, 2014 The Greater Binghamton Business Journal • 7

THE LISTResearch by Nicole Collins

ncollins@tgbbj.com(315) 579-3911

Twitter: @cnybjresearch

The Greater Binghamton Chambers of Commerce list appears in the next Greater

Binghamton Business Journal, out on August 22.

ABOUT THE LISTInformation was provided by representatives of listed organizations and their websites. Other groups may have been eligible but did not respond to our requests for information. While The Business Journal strives to print accurate information, it is not possible to independently verify all data submitted. We reserve the right to edit entries or delete categories for space considerations.

WHAT CONSTITUTES THE GB REGION?For the purpose of this list, Greater Binghamton includes Broome, Chemung, Chenango, and Tioga counties.

NEED A COPY OF A LIST?Electronic versions of all our lists, with additional fi elds of information and survey contacts, are available for purchase at our website, cnybj.com/Research.aspx

WANT TO BE ON THE LIST?If your company would like to be considered for next year’s list, or another list, please email ncollins@tgbbj.com

team,” adds Baker, who includes himself, Norman C. Wynn as the production man-ager, and John Davis as the vice president of engineering and tooling.

“CVT has dedicated employees, some of whom have been with the company more than 20 years. Many live in the area, and oth-ers drive 45 miles [each way] to work here,” says Baker. “Attracting and retaining good employees is critical to our business, and we spend a lot of time training them, especially

in the tool room. We offer competitive wages and health care, but just as important, we encourage a good balance between life and work. I’m very proud of this team. They are [both] talented and dedicated workers.”

Baker also notes that depending on the municipal utility is extremely beneficial to controlling operating costs. “This is an energy-intensive industry,” he says. “CVT consumes more than 1.2 million pounds of resins every year, relying on heat to convert the liquid into solid parts. The local utility charges us 4 cents per-kilowatt-hour,

which helps to keep us competitive.”Baker is a native of Sherburne. He re-

ceived his associate degree at Hudson Valley Community College and has earned a journeyman-toolmaker certificate. Baker was appointed company president on Jan. 1, 2014, after serving for five years as the vice president of sales, and lives in Sherburne with his wife Katie and two teenage children. He is active in a venture between CVT and the Sherburne–Earlville High School Technology Program, helping students to design and build prototypes

using 3-D design and printing technologies. CVT mass produces the parts based on the students’ design.

“Based on our customers [orders], I see the economy rebounding,” asserts Baker. “We are very busy. I’m optimistic that our growth will continue. I currently only have space for one more machine on the produc-tion floor. Fortunately if we need to, we have plenty of room for more expansion.”

Contact Poltenson at npoltenson@tgbbj.com

Continued from page 1

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CVT: Baker: “CVT has dedicated employees, some of whom have been with the company more than 20 years”

Reach us on the Webwww.bizeventz.com

8 • The Greater Binghamton Business Journal June 27, 2014

BNEA-H6800-Greater Binghamton Business Journal-NP-10x12.75-6.27

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