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BY NORMAN POLTENSONJOURNAL STAFF

ENDICOTT — In 1984, at age 16, Larry Wilson walked into BSB Bank and asked for $300,000. This wasn’t a holdup; the teenager wanted a loan to start a video business. His collateral was $42,000 of Victory Markets stock he had parlayed from a $3,000 investment. BSB said yes to Wilson’s request, and three years later loaned him another $2.1 million. The en-trepreneur sold the 33-store chain, Video King, to Blockbuster in 2006.

In 2005, Wilson and his partner Scott Searles opened their first Moe’s Southwest Grill franchise restaurant in Vestal. On Dec. 12, 2013, they opened the most recent location at 7560 Oswego Road in Clay. Moe’s is a rapidly growing, national, fast-casual restaurant chain head-quartered in Atlanta that appeals to young people with its signature dishes such as the Homewrecker burrito, the Close Talker salad, and the John Coctostan que-sadilla.

Wilson and Searles now have Moe’s restau-rants in Auburn, B i n g h a m t o n , Camillus, Cicero, Clay, DeWitt, Ithaca, New Hartford, North Utica, Vestal, and Clarks Summit, Pa. The pair will open a location in Rome in February 2014 and

are projecting more openings later that year. “Moe’s is on fire,” says Wilson. “Our units have the second highest volume [in the national franchise], and we are open-

ing stores at a [blistering] pace … The store footprint is around 2,800 square feet, and we [gen-erate] 15,000

single transactions a month … The aver-age sale is $8.78 [which yields] … more than $1.5 million annually per store.”

FOCUS Brands, Inc., which owns the Moe’s Southwest Grill chain, is careful to find qualified candidates for its expansion. Each franchisee must have restaurant-management experience as an owner or operator, have a net worth of $1.5 million and liquid assets of $500,000, and be capable of opening a minimum of three restaurants, according to the Moe’s web-site. The initial franchise fee is $30,000. In addition, the franchisor charges 5 percent for a royalty fee and another 4 percent for marketing. The marketing fee is re-

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Expansion: Matthews Auto Group moves into Pennsylvania. Page 5.

See MOE’S, page 7

Wilson ramps up Moe’s & Hoopla!

Nonprofit Corner: Goodwill Theatre. Page 10.

NORMAN POLTENSON/THE GREATER BINGHAMTON BUSINESS JOURNAL

Larry Wilson stands in front of the Moe’s Southwest Grill restaurant, at 7560 Oswego Road in Clay, which opened Dec. 12. Wilson and his partner Scott Searles will soon have a dozen Moe’s franchise locations and plan to open more.

The Vision Center builds new Horseheads office

BY TRACI DELORECONTRIBUTING WRITER

HORSEHEADS — By next spring, The Vision Center will move to a new location that will give the growing eye-care practice more room and allow it to serve its patients better.

“We’re just growing and expanding and running out of space,” says practice owner Dr. John Plow.

The Vision Center has operated from 2,400 square feet of space at 3345 Chambers Road in the town of Big Flats, near Horseheads, since 2005. But it has run out of room as the

PHOTO COURTESY OF THE VISION CENTER

A construction worker works on the new building that will house the new head-quarters of The Vision Center.

See THE VISION CENTER, page 9

2 • The Greater Binghamton Business Journal December 13, 2013

BSU thrives in contract-assembly manufacturing niche

BY TRACI DELORECONTRIBUTING WRITER

ITHACA — Jack-of-all-trades, master of none? That’s not the case at BSU, Inc., a woman-owned, contract-assembly manu-facturer of electronic-circuit boards that has not only carved out its own niche, but also has thrived in it.

“We’re not going to be all things to all people, so let’s just concentrate on doing what we do really well,” company owner and president Christine Houseworth says of her business philosophy.

Ithaca–based BSU got its start in 1989 when Houseworth and Denver Jones, the company’s current vice president, found an underserved niche. It was difficult to find contract-assembly suppliers capa-ble of handling highly technical work in lower volumes, and BSU filled that void, Houseworth says.

After a few years in business, Houseworth says BSU received a request from a large company — which she declined to name for the story — that asked if BSU could handle a quick production run that it couldn’t man-age on its own. Houseworth agreed, and that one production run turned into several years of work for the company — complete with shipping products to overseas divi-sions.

However, over time that company evolved, Houseworth says, and the work seemed to be pulling BSU further and fur-ther away from its core values of providing superior technology and service. With so

much offshore-manufacturing competition from countries like China, she says, the company would have had to compromise its values in order to be competitive on price. Combine that with other issues like tying up cash flow, and Houseworth says the decision she made about seven years ago to walk away from that customer and the $1.5 million in revenue it brought to BSU was an easy decision to make.

“We were kind of crawling out of our niche,” she says. Her decision brought BSU back to the place where it works best, she contends.

Today, the company focuses on two main areas. For its production customers, BSU produces products such as electronic-circuit boards used in high-tech manu-facturing and laboratory equipment. BSU also builds prototypes for clients and can even work with those customers from the early-design stages to help the process flow smoothly.

Houseworth says her business has since recouped that $1.5 million in revenue it walked away from and continues to be stable with reasonable and sustainable

growth. She declined to disclose revenue figures, but contends the company is doing “just fine” in that department.

“I’m not in favor of growing too large too quickly,” she says. BSU employs just under 40 people with a varied workload. When things get really busy, Houseworth offers overtime to her employees until the job is done.

To date, the company has not done a great deal of marketing and gains most of its new clients, which span across New York and along the East Coast, through word of mouth from existing clients. Engineers, in particular, serve as ambassadors for BSU and often want to continue to utilize BSU even if they’ve moved on to a new com-pany, Houseworth contends.

Headquartered at 445 E. State St., BSU (www.bsuinc.com) currently operates from 17,000 square feet of manufacturing space and has 15,000 square feet available to expand into if necessary, according to Houseworth.

Contact The Business Journal at [email protected]

PHOTO COURTESY OF BSU, INC.

BSU, Inc. employees work on the production floor of the company’s Ithaca office. BSU produces products such as electronic-circuit boards used in high-tech manu-facturing and laboratory equipment. BSU also builds prototypes for clients and can even work with those customers from the early-design stages to help the process flow smoothly.

UVANY names Cayuga Venture Fund’s Tegan as board VPBY JOURNAL STAFF

T he Upstate Venture Association of New York, Inc. (UVANY) recently announced that Jennifer Tegan,

partner at Cayuga Venture Fund in Ithaca, will become vice president of its board of directors.

UVANY says it is a not-for-profit organi-zation with the goal of increasing capital in-vestment in private companies throughout upstate New York.

The association also announced that Dan Magnuszewski, managing director at the Z80 Labs technology incubator in Buffalo, has joined the UVANY board of directors.

Tegan has been with Cayuga Venture Fund (CVF) since February 2002 and cur-rently oversees its investments in GiveGab and Intrinsiq Materials. Tegan also repre-sents CVF as an observer on the boards

of BinOptics and Calient, and manages the financial and administrative operations of CVF, according to UVANY.

Magnuszewski is an entrepreneur from Buffalo and holds a bachelor’s degree in computer science from the University at Buffalo. He has worked as a software engineer at Synacor, as a technical co-founder for multiple startups, and as a co-founder of CoworkBuffalo before joining Z80 Labs, UVANY said. Magnuszewski’s current focus is on consolidating and grow-ing the tech-startup community in WNY. He serves on the UB Computer Science Advisory Council, the WNY Computer Science Teachers Association, co-organiz-er of Buffalo Startup Weekend, and as a mentor for the Syracuse Student Sandbox, according to UVANY.

Brian Model, managing partner at Stonehenge Growth Equity Partners in New York City, was re-elected to a sec-

ond term as UVANY’s board president.

Dan Penberthy, ex-ecutive vice president of Rand Capital in Buffalo and a former president of UVANY, will step down as vice president of UVANY, but will remain on the UVANY board of direc-tors, the organization announced.

UVANY says it’s the only organization serving the entrepreneurial, corporate, and investment communities across all of the regional markets of New York state. UVANY member funds (angel, venture, private equity, mezzanine debt) manage more than $1 billion in capital. From 2005-2012, these funds invested more than $430 million in over 125 New York state companies, according to UVANY.

Tegan

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December 13, 2013 The Greater Binghamton Business Journal • 3

BY JOURNAL STAFF

ITHACA — The Argos Inn, a restored, LEED-certified historic mansion in the heart of Ithaca, has formally opened.

The Downtown Ithaca Alliance, in col-laboration with the city’s mayor Svante L. Myrick, hosted a ribbon-cutting ceremony at the inn, located at 408 East State St., on Nov. 18.

Avi Smith is the owner and Carly Hansen is general manager of the Argos Inn.

The mansion was built in 1831 by Jacob McCormick, the 14th president of the vil-lage of Ithaca. It later served as the head-quarters for the Duncan Hines Institute co-founded by Roy H. Park. The recently completed restoration displays this historic building’s restored wood, stone, plaster, brick, and glass details, according to a news release from the Downtown Ithaca Alliance.

The Argos Inn offers 10 guest rooms and will soon open a public cocktail lounge and accept engagements for private events, according to the release. Modern ameni-ties include low-voltage LED lighting, heat-ed bathroom floors, geothermal heating and air conditioning, and free fiber-optic Internet service. The inn offers refurbished 19th century furnishings and a collection of original art pieces by locally and nationally renowned artists, the release stated.

The Argos Inn is the first of several “ex-citing new lodging options” in downtown Ithaca, the Downtown Ithaca Alliance said. Joining the Argos Inn in 2014 will be a full-service Marriott Hotel and restaurant on the Ithaca Commons and a renovated

hotel and conference center at the current Holiday Inn site.

“Together, these existing and proposed projects represent a 91 percent increase in the number of hotel beds in downtown Ithaca and reflect the region’s burgeoning appeal as a tourist destination known for outstanding cultural events, shopping and dining, and outdoor recreation,” the alli-ance said in the release.

Argos Inn formally opens in downtown Ithaca

The Argos Inn, a restored, LEED-certified historic mansion in the heart of Ithaca, has formally opened.

PHOTO COURTESY OF ARGOS INN

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By NormaN PolteNsoNJournal Staff

BINGHAMTON — The year was 1886. Grover Cleveland resided in the White House; the Apache leader Geronimo surren-dered, ending the last major U.S.-Indian war; The Big Apple celebrated its first confetti parade with the dedication of the Statue of Liberty; and Jacob’s Pharmacy in Atlanta sold the first Coca-Cola. Overseas, Karl Benz patented the first gasoline-driven auto.

On Nov. 13, 1886, Charles M. Turner founded the Security Mutual Life Association with eight local businessmen. Unlike a stock company, a mutual insurance institution is owned by the insured persons who become company members and are entitled to in-demnification in the event of loss. On Jan. 3 of the following year, Security Mutual opened for business at 86 Court St. in down-town Binghamton.

The first customer was Charles E. Tichener, the founder of Tichener Iron Works in Binghamton. Tichener bought a one-year, renewable-term policy naming his wife as the beneficiary, which in the event of his death paid the widow $1,000. Security Mutual pocketed $38.06 in premiums on its first day of business. Within six months, the company had collected nearly $5,000 in premiums with $650,000 of insurance in force. By the end of that year, revenue hit the $15,000 mark with more than $1 million of life insurance in force.

Since the founding, “We have seen steady growth,” says Bruce W. Boyea, chairman,

president, and CEO of Security Mutual Life Insurance Co. of NY. “By 1900, the company had grown to over $800,000 in revenue and sold nearly $30 million of insurance. [Almost a century later,] … when I became the presi-dent and CEO [in 1997], Security Mutual’s life insurance in force was approaching $20 billion and our assets were $1.4 billion. Last year, assets topped the $2.6 billion mark and [gross] revenue was $321.4 million … Just in the past 15 years, the number of policyholders has grown from 124,000 to 408,000. We expect to end this year with 473,000 policyholders … At the end of 2012, the company ranked 24th out of 800-plus life insurers in terms of the number of permanent life-insurance policies issued.

Accelerating growth is also reflected in other statistics as well. “In 1962, the average size of a life-insurance policy was $5,534. Today, the average ‘workplace’ policy is $30,000 and in the ‘advanced markets/tradi-tional ordinary’ category, the average policy is $450,000,” says Frederick L. Wortman, executive vice president, administration and chief compliance officer at Security Mutual. “Depending on the category, our policyhold-ers range between 40 percent and 60 percent men versus women.”

Boyea adds that “… the company’s capital has risen from $110 million to over $132 mil-lion in just five years [ending in 2012]. We have accomplished this growth while maintaining the company’s financial strength and stability. Protecting our policyholders for the long-term is our number-one priority … When many were buying up subprime mortgages, we

opted not to participate, because they were new and there was limited information on their past performance, specifically, how they might perform during periods of economic stress … At the close of last year, 99.9 percent of the company’s bond portfolio was investment-grade, and our commercial mortgage portfolio hasn’t had a foreclosure in 15 years.”

Security Mutual offers a range of products including whole life, term, and universal life. The company also offers annuities; worksite products, such as payroll-deducted whole

life, universal life, and accident insurance; and group products including life, short- and long-term disability, New York State Disability Benefits (DBL), and New Jersey State Temporary Disability Benefits (TDB). DBL and TDB are both mandatory benefits. In addi-tion, the company offers products to voluntary emergency-service organizations and special-izes in supporting financial-services institutions like credit unions. To round out its product

Security Mutual Life is accelerating growth

norman poltenson/tHe greater bingHamton bUsiness JoUrnal

see security mutual, page 8

Bruce W. Boyea, chairman, ceo, and presi-dent of security mutual life insurance co. of Ny, stands in his Binghamton office. the 127 year-old company has enjoyed rapid growth over the past 15 years.

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Matthews Auto Group expands into PennsylvaniaBy NormaN PolteNsoN

Journal Staff

VESTAL — On Nov. 11, Matthews Auto Group, Inc. opened its sixth location at 3512 Birney Ave. in Moosic, Pa., about six miles south of Scranton.

The dealership features “Planet PreOwned,” a trademark of Matthews Auto Group for its used cars. Moosic is the third used-car location for Matthews, in addition to the firm’s Norwich and Vestal stores. It is the family-owned business’s first venture into the Pennsylvania market.

Matthews Auto Group bought the prop-erty that was formerly the Santo Volvo/Lincoln dealership. In 2013, the former owner sold off the Volvo franchise to the Pollock Auto Group, and in 2011 it had sold the Lincoln franchise back to Ford.

“We bought a 20,000-square-foot building on 2.8 acres of land,” says Rob Matthews, president of Matthews Auto Group. “It was a turnkey operation. The only thing we had to change was the signage.” Matthews did not reveal the purchase price or any financ-ing details, but did announce the creation of 15 new jobs, which he projects to grow to 40 employees within two years.

Headquartered at 3721 Vestal Road, Matthews Auto Group now boasts six loca-tions with 10 franchises, including Buick, Cadillac, Chevrolet, GMC, KIA, Mazda, Subaru, Mitsubishi, Ford, and Lincoln. “The company is the largest dealer group in a two-county area,” says Matthews. “With

the Moosic deal, we now have 200 em-ployees and project $200 million in annual revenue … The retail side of the business is 40 percent [of our revenue] … from new-car sales and 60 [percent] from used-car sales. This year, we will sell 5,700 cars … Our dealerships cover 115,000 square feet [of building space], and we need 30 acres to accommodate our staff and vehicles.” Matthews Auto Group is a sub-S corpora-

tion with five siblings as stockholders. Each location has its own real-estate company.

That’s a long way from the 2,200 cars sold and $60 million in revenue when Matthews joined the family business in 2005. His late father, Jim Matthews, was a legendary entrepreneur who migrated from Ontario, Canada to the Binghamton area. He found-ed Matco Electric in 1965 and went on to create businesses in manufacturing, insur-

ance, real-estate development, publishing, and brought the first professional hockey team to the area. His venture into autos was accidental.

“Doug, the second-oldest Matthews son, [was prone] … to carsickness,” remem-bers Rob Matthews. “For some reason, he didn’t get sick riding in Chryslers. In 1973, dad went to buy a Chrysler, but the dealer was unable to sell him one because the dealership was in poor financial shape and the inventory was on credit-hold with the lender. My father guaranteed the deal with the lender and bought the car. Shortly [thereafter], the dealership failed, and the Matthews family found itself in the auto business.”

Rob Matthews got the call from his father in late 2005. “Paul Brown had run the com-pany for 20 years and done an incredible job. My father didn’t get involved [typically] with the day-to-day details of running a business. He much preferred to start them and focus on the big picture. However, Paul had a medical issue in 2001 that forced him to leave the business, and for several years, there was no overall direction. The dealer-ship had fallen on hard times.

“I was in Boston at the time, work-ing as an escrow-account officer for State Street Bank. I had an MBA from Babson [College] and sold shirts online at curse/reverse.com, a business I started for Red Sox fans hoping to end the ‘Curse of the

norman poltenson/tHe greater bingHamton bUsiness JoUrnal

rob matthews, president of matthews auto Group, stands in front of the dealer-ship’s headquarters in Vestal. on Nov. 11, matthews auto Group opened its sixth location at 3512 Birney ave. in moosic, Pa., about six miles south of scranton.

see matthews, page 6

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Tioga Downs breaks ground on three-story parking complex

Tioga Downs announced it has begun phase one of a large-scale construction project. On Nov. 18, it held a groundbreak-ing ceremony for a three-story parking complex to be built at the racing and ca-sino venue.

The groundbreaking came almost two weeks after New York state voters approved Proposition #1, which will allow for the op-eration of four full-scale casinos in upstate New York.

Jeffrey Gural, chairman and CEO of American Racing and Entertainment, which operates Tioga Downs, said in a news re-lease that the expanded Tioga Downs facil-ity will provide hundreds of construction jobs and permanent positions running the casino and hotel complex.

“We are very, very pleased with the passing of Prop #1. The results were over-whelming, especially from our surrounding counties that understand that legalizing full gaming will create jobs in the Southern Tier and have a positive impact on the economy,” he said in the release.

Tioga Downs Casino is located along the north side of NY Route 17/ I-86, two miles west of exit 62 in Nichols.

Greater Binghamton Chamber launches revamped website

BINGHAMTON — The Greater

Binghamton Chamber of Commerce re-cently unveiled its redesigned website, which it says is designed more effectively to highlight the chamber’s work in the Greater Binghamton business community.

The site — developed by the Binghamton–based advertising and mar-keting agency, hue — features the latest in website technology, including a fresh, mobile-friendly design, the chamber boasts in a news release.

Using the words “grow,” “connect,” and “advocate” in large, all caps, the home page offers simplified site navigation for access to key information for businesses and chamber members in the region. The web-site highlights the chamber, its members, business resources, and news.

The Greater Binghamton Chamber notes that key features include social-media inte-gration, a new member events calendar, an electronic-messaging tool to communicate with elected officials, and a blog.

“The newly revamped Chamber web-site features a vibrant, modern, and more user-friendly source for the latest news in the Greater Binghamton business com-munity,” Lou Santoni, Greater Binghamton Chamber president and CEO, said in the news release. “We think our members and the public will find it to easier to navigate and serve as a more useful tool to learn more about what the Greater Binghamton Chamber has to offer.”

The chamber didn’t say how much it spent on the new website (www.greaterbinghamtonchamber.com).

News of note for and about Greater Binghamton businesses Bambino.’ Curse/reverse.com sold shirts

with the logo and a ‘Yankee Fan Conversion Kit,’ which included a vial of water from the Charles River. Red Sox fans would sprinkle the water on Yankee fans [to change their allegiance.] … I was convinced I would stay in Boston.”

The younger Matthews didn’t anticipate the effort needed to turn around the com-pany. “I don’t think I slept [a wink] in 2006,” remembers Rob Matthews. “The business was really struggling. The Internet had put pressure on prices and driven down the margins on car sales. Consumers were in the driver’s seat, because the public had so much information. The industry was also consolidating, which put more pressure on small dealerships to compete. Then came the recession, which forced General Motors and Chrysler into bankruptcy [protection]. For us, it meant the loss of the Chrysler, Jeep, Saturn, and Pontiac franchises.”

A time for changeThe Matthews Auto Group began to

change in 2006. “I went to my father with a radical idea of how to restructure the busi-ness,” says Matthews. “First, we needed to re-connect with our customers. So, no more haggling about price. We’ll give our best price on every vehicle, every day and call it ‘One-Price.’ No more fake sales at the end of the month. If you have a trade-in, we’ll quote our purchase price, regardless of whether you buy a car from us.

“And to prove that the customer is get-ting the best value, we’ll give any customer 110 percent of the difference in AutoAward points up to $1,000 if he [or she] finds a lower advertised price in New York state. We’ll call it ‘Price Assurance.’ Matthews wants a customer for life, not just to sell one vehicle.”

Then, Matthews put the sales people on commission based on volume and cus-tomer satisfaction, so they were focused on what was best for the customer.

Next, the Matthews Auto Group insti-tuted a member-awards program. “Every customer is automatically enrolled in our AutoAwards program,” Matthews contin-ues. “They earn points for every dollar spent on service, for referrals, and for bonuses. (Bonuses are issued for becom-ing a member, buying an extended service contract, choosing a Matthews financing option, rust-proofing, collision work, and out-of-state inspections.) The program can save members thousands of dollars while they own a vehicle and when they go to buy a new one [from us]. AutoAwards also offers discounts at 95 area merchants, rang-ing from restaurants, landscapers, hotels, clothing stores, and laser eye-surgery to athletic clubs and spas, carpet dealers, and flower shops. The merchants are happy because it drives traffic to them.”

Rob McLaughlin, the company’s op-erations manager, shared the follow-

ing program statistics: On Oct. 24, 2013, AutoAwards included 19,478 active mem-bers who have earned $6.5 million since the program’s inception, of which $2.3 million has been redeemed.

“The … [fourth] step was to create free-standing, used-car locations,” contin-ues Matthews. “We understood that people don’t think of new-car dealers having used cars. But, the impetus to change really came when we lost the Chrysler franchise and had an empty building. That was the time to create Planet PreOwned and brand our used-car business, even though all of our stores have used cars on their lots.

“Dad backed me on the changes,” says Matthews. “He also agreed that we need-ed a diversification strategy that included more dealerships and a wider geographic reach. All I can say is that it was a real leap of faith.”

GrowthDespite continuing consolidation of the

industry, pricing pressures, and stiff compe-tition, Matthews is feeling better about the 40-year-old family business. “Our sales have grown 40 percent because of the One-Price program,” avers Matthews, who is far more relaxed than he was in 2006. “We took a gamble that if we focused on what was best for the customer, our business would … [flourish]. Customers are interested not just in price, but in the whole relationship with the dealer. That means concern for service, customer relations, and recognizing that an owner’s expenses only start when … [that person] drives off the lot. We want to help to manage and control those expenses [throughout the entire ownership period].

Success has come in large part because of the management team assembled at Matthews Auto Group. In addition to Rob Matthews as president, Larry Davis is the company CFO, Megan Kosar is control-ler, Nelson Van Atta is the COO, and Tara Connelly is the manager of human resourc-es. Matthews’ sister Theresa serves as the company spokesperson.

The auto group also relies on area pro-fessionals to help steer the company on its growth path. “J.P. Morgan has handled our floor plan for more than 20 years,” says Rob Matthews. “We also work with Piaker & Lyons [P.C.] for our accounting and Hinman, Howard & Kattell [LLP] for our legal work. But our success is mostly due to the great staff at Matthews. We have a number of long-term employees who are not only well trained but also focused on the customer. I think we are doing the right thing, because people are coming to us looking for employment.”

The Matthews Auto Group has also em-braced the Internet and social media to help fuel its growth. “While consumers can now search a wide geographical area in a short time and gather a lot of information, the Internet and social media give us a much broader customer base to draw from,” says Matthews. “Our competitors may now be

60 miles away, but that also means we have the opportunity to reach new customers. That’s why we put so much emphasis on our website and on Facebook, where we already have 4,200 fans. Communications is critical in our business … We have four people on staff who are posting updates.”

Matthews Auto Group communicates regularly, not only with its customers, but also with its employees. The company’s Facebook page is filled with news about the employee-of-the-month, weddings, engage-ments, births, community volunteers, new hires, and promotions along with photos snapped by the staff.

At age 37, Rob Matthews is feeling more confident about the direction of the epony-mous auto group. The company’s first move out of the Binghamton area came in 2012 when it bought Smith Ford/Lincoln on Main St. in Norwich. In addition to retain-ing the Ford/Lincoln franchise, Matthews Auto Group opened its second used-car operation at the same location. Now, in 2013, the company has expanded again to the Scranton area.

“I feel comfortable that we can manage this expansion, including extending our geographical reach,” says Matthews. “We are always looking for new dealership op-portunities, but there has to be a fit and the numbers have to work. We are also inter-ested in [acquiring] new franchises, [such as] … Hyundai and Toyota. The recession [of 2008] taught us the importance of diver-sifying the operation.”

Jim Matthews entered the auto business by accident. The second generation, how-ever, has set a clear direction for the com-pany’s future. Rob Matthews has combined his skills honed at Babson with his natural, creative spark. A guy who could figure out how to convert Yankee fans to Boston fans with Charles River “holy water” can certainly steer Matthews Auto Group on a track to continuing prosperity.

There is no “Curse of the Bambino” in Vestal. q

Contact Poltenson at [email protected]

MATTHEWS: The Matthews Auto Group has also embraced the Internet and social media to help fuel its growth

Continued from page 5

“I feel comfortable that we can manage

this expansion, including extending our

geographical reach,” says Matthews. “We are always looking for new dealership

opportunities, but there has to be a fit and the numbers have to work.

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turned to the franchisee if his marketing is approved by the home office. “When we started with our first Moe’s, it cost $350,000 to open a store,” says Wilson. “Today, it’s closer to $650,000. We generally lease our space, but I bought the [7560 Oswego Road, Clay] building, which was originally occupied by Friendly’s [Ice Cream, LLC]. The … store cost $1.7 million for the land, the building, and the build-out.”

The national office recommends that Moe’s be sited in “strong anchor centers or highly visible convenience centers” that offer a strong retail synergy. Within a two-mile radius, there should be a minimum population of 30,000, of whom 15,000 are employed. The median income is $50,000, the “median age is 40 and below, and the household size is 2.5+,” according to the Moe’s site. While Wilson and Searles gen-erally follow the guidelines, “we prefer to be in neighborhoods where families live, play baseball, and go to school,” says Wilson. None of the Moe’s has a drive-through. The DeWitt store offers catering, of which 90 percent is to area businesses.

The reasons for Moe’s popularity are many. The chain insists on fresh foods including cage-free chicken, steroid-free pork, grass-fed steaks, and only fresh produce. Moe’s uses no microwaves or freezers, no trans-fats, and no MSG. For those who favor vegetarian, low-calorie, or gluten-free selections, there are plenty of choices, along with a kids’ menu. On Mondays, Moe’s features the $5 burrito. Many of the menu items are named for popular TV and movie characters, and the background music suggests a “hip” atmo-sphere. Convenient locations and ease of parking also ensure Moe’s popularity.

Wilson and Searles established Southwest Grill of NY, LLC in June 2004.

Headquarters is located at 111 Grant Ave. in Endicott. Each location is incorporated separately. Wilson and Searles are the two principals in the business.

Diversifying into yogurtLast year, Wilson’s son Christian, now a

freshman at Binghamton University, came to his father with another idea for an eat-ery. The concept was to create a frozen-yogurt venue where the customer picked the toppings and paid for the dessert based on the weight. The key was to use fresh dairy products and real fruit purees cut fresh daily. Keeping to the healthful theme of yogurt with its vitamins, miner-als, and pro-biotics, most of the flavors would be gluten-free and certified kosher. Twenty-four toppings would add variety and flavor.

Not one to dawdle, Larry Wilson opened his first Hoopla! Frozen Yogurt store this year on Aug. 1 in Binghamton. More stores followed in Cortland, Auburn, and North Utica. The Newburgh store opens Dec. 17, with additional store openings planned. Wilson and Kevin Blake are the principals in this company, along with investors Travis Hayes, Todd Mansfield, Scott Searles, and Christian Wilson. “We see a synergy be-tween Moe’s and Hoopla,” says Wilson. “That’s why we plan to locate the two fran-chises together. Both [restaurants] focus on fresh food and appeal to the same people … Eat at Moe’s and have your dessert at Hoopla … The Hoopla footprint is smaller than Moe’s, around 1,500 square feet. We get the same traffic count, about 15,000 transactions a month, but the average sale is only $3.89. Where Moe’s stores average $1.5 million a year [in revenue] Hoopla’s stores average around $700,000.” Wilson says he hasn’t decided yet whether he and his partners will become a franchisor of Hoopla, but the answer is “probably.”

By February, the two principals will have opened 12 Moe’s stores, following the Rome opening. “We’ll have 15 open next year and 19 by 2015. Combined with Hoopla’s growth, our revenues should dou-ble in the next 36 months to $45 million a year … That means the current 450 full- and part-time employees are projected to grow to 1,000 by 2016 … Our [expansion] strat-egy will take us south to Lancaster [Pa.] and York. Next, I’m looking at Cleveland,” Wilson says.

For Wilson, training is a key to suc-cess. “We bring up a trainer from Moe’s in Atlanta for two weeks of every month, both for in-store and class training,” de-clares Wilson. “It’s a [sizable] expense, but that’s what really separates us from the competition. Our employees need to know not only our [offerings] but also the Moe’s experience. You don’t come here just to eat Mex–Tex. It’s the fun atmosphere [that sets the stage]; customers come for the total experience.”

Never one to miss an opportunity, Wilson incorporated Southwest Grill Maintenance, LLC in June of this year. He is the sole stockholder. “We do all of our own build-outs, now,” says Wilson. “Currently, we are working on four locations [simultane-ously].”

Wilson attributes the success of Moe’s, in large part, to the management team, which includes Wilson, Searles, Joe Tebsherany as the store operator, and Chris Heirman as CFO. He also notes his long-standing relationship with M&T Bank. “They are fantastic,” says Wilson. “They have never said no.” He has also been a client of Binghamton–based Piaker & Lyons [,P.C.] since he was 16 years old and has relied on The Law Office of John G. Dowd Attorney for his legal work. “Our major food sup-pliers are Rinehart Food out of Sunbury [Pa.] and Syracuse Banana for our fresh produce,” avers Wilson.

At 45, Wilson says he will work five more years. “Then I would like to turn it over to my three children … I want to help the kids run the business,” says Wilson. “Life is great. It’s been a blast … My father always told me to give the customers what they want and when and how they want it. It’s great advice that I’m passing on to my children.”

Wilson and his partners are on a tear to open Moe’s and Hoopla stores. At the rate he’s going, the companies could hit $100 million in sales by the time he retires.


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MOE’S: It uses no microwaves or freezers, no trans-fats, and no MSG


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offerings, Security Mutual in-sources products, such as long-term-care insurance and individual disability income. The company is licensed in all 50 states and in the Virgin Islands.

The keys to growthHow does a 127-year-old company acceler-

ate its growth while investing conservatively? “Security Mutual stays focused on its core val-ues,” says Boyea. “While many mutual compa-nies rushed to convert to stock corporations in order to raise additional capital, we considered it best to keep our members as the owners … This company is also innovative in responding to a changing marketplace. Just two years after Security Mutual opened, we offered the first disability-income policy. Later on, we offered the first non-cancellable disability-income cov-erage up to age 65. We pioneered the idea of taking benefits in monthly installments, rather than in a lump sum. This was the [forerunner] … of the annuity concept. After World War II, the company created new pension coverage by bundling life, accident, and health insurance in one package. We were the first company to cre-ate ‘Jumping Juvenile’ policies, where the face amount was $1,000 until a child turned 21; then the amount jumped to $5,000.”

Just in the last few years, “Security Mutual has created an array of new products designed to meet the demands of the marketplace,” avers Wortman. “Our UL4U (universal life insurance policy) offers a death-benefit product that is both flexible and has no-lapse guarantees. The product allows the policyholder to accumulate cash that can be accessed and provides a benefit rider for chronic illness, a unique way to address some of the costs associated with

the care of someone who is chronically ill. The company rewards the policyholder who makes regular, recurring premium payments by ‘en-hancing’ the interest rates.”

“We also created a policy for those con-cerned with outliving their income,” continues Boyea. “This is an annuity product, commonly referred to as an immediate annuity, which can provide a guaranteed income for life without the loss of liquidity. You’re not locked in: You can access cash beyond the scheduled pay-ments to cover emergencies or other issues. For those who need to know that their monthly expenses are covered in the event of death, we produced a monthly, income-term insur-ance policy designed to replace a beneficiary’s monthly income needs. We have shifted the policyholder’s mindset by responding to their concerns and by constructing the payments so that a portion of each monthly payment is income-tax free to the beneficiary.”

Security Mutual’s growth is also attributable to its investment in technology. “A major reason we are able to create new policies is because technology has changed the fundamentals,” notes Boyea. “The growth of our policy sales is only possible, because we have a world-class system. We do end-to-end processing, and we do it smoothly. Most things are done electronically to make it easy [both] for our agents and for the policyholders to access their information. To date, we have three patents pending to protect our intellectual property.”

“Our success is also due to our relationship with 320 general insurance agencies and their 5,000 licensed brokers,” adds Wortman. “We differentiate ourselves by creating a special relationship based on personal service. For example, qualified-retirement plans are very complicated. We offer consulting with our at-

torneys specializing in retirement planning, so that the clients and agents are comfortable with the process. We also communicate regularly on changes to the law and compliance issues. Educating our clients and agents is a major focus of Security Mutual, as is training. The company utilizes multiple forms of communica-tions from the traditional printed newsletter to videos on succession planning, saving for col-lege, key-person protection, retirement, chronic illness, and succession planning … We also en-courage participation by our agents in regional meetings that we sponsor to explain the latest products and changes in the marketplace.”

Boyea reserves his ultimate explanation for the company’s success to its 343 employees. The chairman started in the insurance indus-try in 1975 and joined Security Mutual in 1995 as the vice president of the agency. He assumed the chairmanship in 1999. Wortman joined the company in 1990 and assumed his current position in 2007. The remainder of the execu-tive team includes James J. Kerwin, executive vice-president and chief marketing officer; Marc. D. Novotney, executive vice president middle market and assistant to the president; Paul B. Pheffer, executive vice president, chief financial officer; F. David Mistretta, executive vice president, general counsel, and secretary; Dane C. Mitchell, president and chief operat-ing officer of Security Administrators, Inc.; Gary W. Scofield, executive vice president, corporate actuary; and Scott A. Sylvester, se-nior vice president, chief information officer.

Security Mutual reincorporated back in 1898 when it changed its registered name to Security Mutual Life Insurance Company. In 1960, it added “of New York” to the moniker to dis-tinguish itself from a company in Nebraska. Security Mutual has also created three subsid-

iary companies: Security Administrators, Inc. (SAI); SML Agency Services, Inc.; and Archway Technology Services, Inc. SAI monitors 700 cor-porate retirement plans, acting as a third-party administrator. SML Agency handles all of the in-sourced products, and Archway handles not only the technology for Security Mutual but also of-fers its services to other parties. Security Mutual maintains four offices: headquarters remains in downtown Binghamton at 100 Court St.; SAI has two locations, Spencer St. in Syracuse and Court St. in Binghamton; and the company has an of-fice at 55 Broadway in New York City.

“This is a very, special company,” says Boyea. “We care about our policyholders, but we also care about our community. A company that has paid dividends for 122 consecutive years has also consistently supported dozens of area charitable organizations, including Achieve, the Boy Scouts, Habitat for Humanity, the Jim and Juli Boeheim Foundation, and our hospitals, to name a few. We are big supporters of the educa-tional ‘Say Yes’ program, and we run an annual golf tournament that alone raises $33,000 for the Urban League, Catholic Charities, CHOW, and the Boys and Girls Clubs of Broome County. When ‘Super Storm Sandy’ struck, our employ-ees not only made a contribution to the Red Cross but they also donated needed supplies and arranged for a truck, driver, and gasoline to transport the supplies to a relief center.”

Boyea is optimistic about the company’s future and its ability to continue to grow pru-dently despite the vagaries and challenges of the economy. He is also convinced that the best path for future growth is to follow the course that has guided Security Mutual for the past 127 years.


SECURITY MUTUAL: The firm’s growth is also attributable to its investment in technologyContinued from page 4

http://www.greaterbinghamtonscore.org

http://www.visionsfcu.org


GREATER BINGHAMTON MANUFACTURERSRanked by No. of GB Full-Time Employees

Rank

NameAddressPhone/Website

No. of Employees:GB—

Companywide2012

Revenue Products Manufactured Locally Top Local ExecutivesYear

Estab.

1.Lockheed Martin Mission Systems & Training1801 State Route 17COwego, NY 13827(607) 751-2200/lockheedmartin.com/ms2

2,600—

120,000

$47B provides systems engineering, softwaredevelopment, and complex program

management for global security, civil, andcommercial markets

Dan Spoor, VP & Owego General ManagerGreg Larioni, VP & Syracuse General Manager

1957

2.The Raymond Corporation20 S. Canal St.Greene, NY 13778(607) 656-2311/raymondcorp.com

1,500—

1,700

$16B designs and manufactures electric lifttrucks, fleet management, and warehouse

solutions

Mike Field, President, Operations &Engineering Division

Tim Combs, EVP Sales and MarketingDavid Furman, VP Marketing

1922

3.BAE Systems1098 Clark St.Endicott, NY 13760(607) 343-6141/baesystems.com

1,350—

91,000

$36B software, systems integration, support fordefense applications, electronic-control and

power-mgmt. systems for military,commercial air, and land vehicles

Dan Gobel, PresidentAmar Rai, Site Executive-Endicott

1949

4.Chobani147 State Highway 320Norwich, NY 13815(607) 337-1246/chobani.com

1,225—

3,000

$1B Greek yogurt Hamdi Ulukaya, Founder & CEODavid Denholm, PresidentJames McConeghy, CFO

Halil Ulukaya, COO

2005

5.Frito-Lay, Inc.10 Spud RoadBinghamton, NY 13904(607) 775-7000/fritolay.com

550—

48,000

$14B snack products (Lays, Wavy Lays, Ruffles,Fritos, Doritos, Tostitos, Munchos)

Mitch Hamilton, Director of ManufacturingBrian Watson, Director of Logistics,

Distribution & TransportationTim Polman, Director of Technology

1974

6. i3 Electronics, Inc.11093 Clark St.Endicott, NY 13760(866) 820-4820/endicottinterconnect.com

500—NA

NA vertically integrated provider of high-performance electronic packaging solutions

Robert L. Nead, President 2002

7.Norwich Pharmaceuticals, Inc.6826 State Highway 12Norwich, NY 13815(607) 335-3000/norwichpharma.com

375—375

NA pharmaceuticals Douglas L. Drysdale, CEOTerry Novak, President

Elin Gabriel, COO

1887

8.CWS Contract Packaging17 Midland DriveNorwich, NY 13815(607) 334-5366/cwspackaging.com

300—300

$6M contract packaging and assembly services,flow wrapping, blister carding, club packs,

shrink wrapping, eco-friendly greenpackaging, electrical and mechanical

assembly

John McHale, CEO 1964

9.Buckingham Group, Inc.1-11 Travis Ave.Binghamton, NY 13904(607) 773-2400/buckinghammfg.com

277—281

NA climbing and fall-protection equipment forlinemen and arborists

H. Andrew Batty, Jr., PresidentJames Pennefeather, VP Sales and Marketing

James Nichols, VP HR & Materials

1896

10.Golden Artist Colors, Inc.188 Bell RoadNew Berlin, NY 13411(607) 847-6154/goldenpaints.com

150—154

$22M manufacture artist colors and mediums, aswell as for private label paints for

architectural and arts-related companies

Barbara Schinder, PresidentMark Golden, CEO

Jim Henderson, ControllerGreg Sheldon, Director of Operations

1980

11.Endicott Precision, Inc.1328-30 Campville RoadEndicott, NY 13760(607) 754-7076/endicottprecision.com

125—125

$21M precision sheet-metal fabrication,stampings, weldments, CNC mill & waterjet

machining, mechanical assembly

Ronald Oliveira, General & Sales Manager 1960

12.Westcode, Inc.2226 Airport RoadBinghamton, NY 13905(607) 766-9881/westcodeus.com

65—135

$5M rail transit components Anthony Park, Managing DirectorEdward J. Widdowson, Chairman & CEO

Paul Widdowson, VP & COO

1998

13.Emerson Network Power, Surge Protection, Inc.100 Emerson ParkwayBinghamton, NY 13905(607) 721-8840/emersonnetworkpower.com/surge

55—120

NA surge protection Daniel Kreeger, Director of Finance 1971

14.Harris Assembly Group187 Industrial DriveBinghamton, NY 13904(607) 772-1201/harrisasm.com

45—45

$7M manufacturer of electromechanicalassemblies, mechanical assemblies, & cable

and harness assemblies

Brad Harris, President 1984

15.JH Robotics inc.109 Main St.Johnson City, NY 13790(607) 729-3758/jhrobotics.com

35—35

$5M contract manufacturer with CNC lathes &mills, builder of electro-mechanical

equipment, automation systems, roboticcells, specialized machines, manufacturing,

assembly, prototyping, tooling, fixtures

John Hartman, CEOGerald Sensenig, VP of Automation DivisionTom Burgin, VP of Contract Manufacturing

Division

1983

.Southern Tier Plastics, Inc.94 Industrial Park DriveBinghamton, NY 13902(607) 723-2601/southerntierplastics.com

35—35

NA plastic components Joyce G. Gray, President 1967

17.Eck Plastic Arts, Inc.87 Prospect Ave.Binghamton, NY 13901(607) 722-3227/eckplastics.com

20—20

$4M injection molded plastic products, precisionmachining plastic/metal components,

vacuum formed covers/guards/enclosures,various plastic fabricated parts

Robert L. Eck, PresidentTrudy Stone, Controller

1983

18.Steel Sales, Inc.8085 NYS Highway 12Sherburne, NY 13460(607) 674-6363/steelsalesinc.com

19—22

$6M snow-plow blades, construction cuttingedges, plow shoes, welding, punching,drilling, rolling, plasma table, railings

fabrication

Brenda S. Westcott, PresidentDick Wright, GM

1964

THE LISTResearch by Nicole Collins

[email protected] (315) 579-3911

Twitter: @cnybjresearch

Stay Tuned! Colleges & Universities list in the next Greater Binghamton issue,

out Feb. 14, 2014.

Footnotes:1. Formerly Endicott Interconnect Technology

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?Greater Binghamton includes Broome, Chenango, and Tioga counties.

nEEd A COpy OF A LIST?Electronic versions of all our lists, with additional fields 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 [email protected]

practice size has tripled in the past six years, Plow says. He declined to provide specific patient numbers, but says the current location suffers from a shortage of exam rooms and even a lack of waiting-room space.

“We’ll have more space to do more things,” he says of the move to nearly 4,400 square feet of space currently under con-struction at 298 Colonial Drive, just around the corner from the existing office.

Plow purchased 2.3 acres and is build-ing on half of the property. He hopes to lease the other half of the parcel out

to others and is even willing to build to suit on the site if necessary. The eye-care building is a design-build project by Picarazzi Construction, Inc., located in Horseheads. Between purchasing the land and constructing the building, Plow is spending about $1 million. He declined to discuss the financing details of the project.

Along with being energy efficient, the new building will contain two exam rooms each for Plow and the other doctor on staff, Michael O’Connor. The new building will also have a large waiting area, as well as ample space for the necessary pre-exam testing.

The construction project broke ground in August, and Plow expects to move into the new building by March 1. He antici-pates once the practice is in the new space, he’ll need to hire two new employees — a frame stylist and an optometric assistant. Currently, Plow employs 10 people.

“We want to be the premier eye-care center in the area,” he says of his growing practice, which draws patients from as far away as Bath and Mansfield, Pa.

Plow says with the new building, he’ll have space to continue building the prac-tice, with an eye toward someday expand-ing to additional locations in areas where he has larger numbers of patients.

The practice opened in 2005 as a National Vision, Inc. chain location. Plow, who holds a doctorate in optometry from the State University of New York College of Optometry in Manhattan, purchased the practice in 2007 and renamed it The Vision Center. Plow is a member of the American Optometric Association, the New York State Optometric Association, and is current president of the Southern Tier Optometric Association, according to the practice’s website, www.thevisioncen-terny.com. q

Contact The Business Journal at [email protected]

the vision center: The construction project broke ground in August



Profiling local

nonprofit organizations

NonprofitFINANCIAL DATA

Fiscal year ending Aug. 31, 2012Goodwill Theatre, Inc. 67 Broad St., Suite 210

Johnson City, NY 13790Phone: (607) 772-2404

Goodwilltheatre.netKEY STAFF

CEO Naima KradjianCEO’s 2012 compensation $38,923General Manager Christine SpringerBox Office Manager & Volunteer Coordinator Danielle GapskeFacilities Supervisor Joe RomaTechnical Director William NurseGrants Administrator Gail DominBookkeeper Paula Rizzo

BOARD OF DIRECTORS OFFICERSCHAIRPERSON

Marcus O’Rourke Peak Environmental LLCCHAIRPERSON EMERITUS

Lawrence J. Schorr BoltaronPRESIDENT

Nancy H. Phillips Vornado Realty TrustVICE PRESIDENT

Dr. James Terzian Lourdes HospitalTREASURER

Debra L. Andrako NBT BankSECRETARY

Kerin Flannery IBM

BOARD MEMBERSDebra L. Andrako NBT BankDiana Bendz IBM (retired)Barbara Ellis Ellis Brothers Fine FurnitureWilliam Fenwick Mondorf & FenwickTina Fernandez Hinman, Howard, & KattellKatherine A. Fitzgerald Hinman, Howard, & KattellKerin Flannery IBMSandra Guy Realty USAKenneth S. Hamlet Hinman, Howard, & KattellAlbert Hamme Binghamton University (retired)Christopher Kuhlman Tioga GardensLillian Levy Hinman, Howard, & KattellDr. Sandra Michael Binghamton UniversityJudith Miller Community VolunteerMarcus O’Rourke Peak Environmental LLCRobert Pass NYSEGNancy H. Phillips Vornado Realty TrustLawrence J. Schorr BoltaronDr. Judy Siggins BCC FoundationKim Stack-Myers Vestal School District Board of EducationDr. James Terzian Lourdes HospitalDavid Wilson Retired

MISSION“To create a regional performing arts complex and magnet profes-sional training academy that will enrich the lives of our residents and visitors though education, events, and performances.”

SERVICE AREABroome, Tioga, Chenango, Tompkins, and Delaware counties in New York, as well as Susquehanna County in Pennsylvania

PROGRAMS & SERVICESA full season of educational and family-friendly affordable program-ming in the Schorr Family Firehouse Stage, the first venue of the complex that is now operating. Visiting artists are also sent into schools and afterschool programs. Goodwill’s StoryTime Series involves literacy-based shows directly related to actual story books that inspire reading and also introduce the concept of live theatre to children. A free jazz concert and Teen Jazz project in April are part of Jazz Appreciation Month. Hosts sixteen “Jazz Jams” a year to keep the tradition alive for both musicians and residents.

Revenue SourcesContributions & Grants $1,189,281Program Services $137,692Investment Income 0Other $84,931

Total Revenue $1,411,904

ExpendituresSalaries & Employee Benefits $183,801Other $392,894

Total Expenses $576,695Surplus for the Year $835,209

BY NICOLE COLLINSJOURNAL STAFF

JOHNSON CITY — As the head usher of the Goodwill Theatre in Johnson City on two nights a week, Phillip T. Messina would stay late and wait for the delivery of the new films the theatre would switch out during the week. Once the films were delivered, he would lock the door and head home. That was in 1946.

For an extra 10 cents an hour, twice a week he would shovel coal onto the furnace, remove the ashes, and put them out on the curb.

One part of his job he considered “great fun,” was catching couples “necking” in the balcony.

Messina, now 84 years old and still a resident of Johnson City, only worked at the theatre for a year while he was in high school. In 1947, he graduated and joined the Navy. The local people, Messina says, don’t realize what a great history the theatre boasts.

Built in 1920 by George F. Johnson, the theatre was used for boxing matches, concerts, and shows. It also operated as a movie house for 30 years, before closing in 1960. The theatre re-opened several times in the 1960s, and then in 1978 plans for converting the building into a dinner theatre were abandoned in the middle of construction.

Then for more than 20 years, the theatre sat vacant until a group of vol-unteers in 2000 started an initiative to save it. The group was officially grant-ed nonprofit status in 2006, and some 350 people have been involved in the project on some level since then.

Naima Kradjian, CEO of the Goodwill Theatre, Inc., has been at the helm of the organization since 2006, guiding its progress toward becoming a performing-arts complex and profes-sional training academy. Prior to be-

coming the CEO, Kradjian served on the board from 2001 to 2005, but she has been working in the Binghamton arts community since 1988.

The nonprofit has acquired the three historic buildings that are to be part of the complex — the Goodwill Theatre (36 Willow St.), the Municipal Firehouse Building (46 Willow St.), and the EJ Medical Building (67 Broad St.), which currently serves as the administration office.

Kradjian estimates that $20 mil-lion is needed for the renovation of the Goodwill Theatre, now on the National and New York State Register of Historic Places. When the renova-tion is complete, the vaudeville the-atre will have 900 seats.

“We need more entertainment choic-es in the community,” says Kradjian.

In 2007, the Municipal Building opened as the Schorr Family Firehouse Stage, the first performance venue of the complex. The venue recently completed its fifth season with 65 performances, and reaches an annual audience of about 10,000 people.

The master planThe nonprofit’s purpose wasn’t just

to save the theatre. It also wanted to figure out how the theatre could sustain itself and not be a drain on the community. Two feasibility studies, conducted in 2004 and 2008, helped the nonprofit form a plan of creating an accredited performing-arts acad-emy that could help lure artists, stu-dents, and patrons to the region. In conjuncture with providing the quality entertainment to the community, the academy would allow the Goodwill Theatre Inc. to stand on its own.

“If we do it right in the beginning, it will have a better chance of success,” says Kradjian.

The next phase of the plan is to de-sign and build a connecting annex be-

tween the theatre and the Firehouse Stage. This annex will house the cen-tral lobby of the complex, as well as academy classrooms and a thrust-style playhouse with 299 seats.

Once complete, the entire com-plex — Goodwill Theatre, Firehouse Stage, and connecting annex — will span 105,000 gross square feet.

The nonprofit also had to find an ar-chitect approved by the State Historic Preservation Office to perform the renovations. It found Killis Almond & Associates, Inc., a San Antonio, Texas–based firm that has experi-

CornerThe Goodwill Theatre comes back to life

Goodwill Theatre, Inc. facts Nonprofit founded: 2001 Employees: 5 full time, 2 part time Volunteers: 175 Recent Organizational Highlights: Goodwill Theatre has acquired all the critical real estate to complete the complex and acad-emy. It is in the process of com-pleting stabilization of the three historic buildings by the end of 2014. They are 75 percent stabilized at this point. Two of the buildings have been environmentally reme-diated and cleaned out. Two are open and being used. The Schorr Family Firehouse Stage celebrated its fifth successful season present-ing a wide variety of entertaining & educational programming. Online ticketing began a year ago. The academy master/business plan is complete. The complex master plan is in process and will be completed at the end of 2014. Restoration of the Firehouse Building façade is under way and scheduled to be completed in summer of 2014. The Health and Cultural District master plan was just adopted by the vil-lage in December 2013. Planning/Fundraising Outlook for 2014: In addition to exterior restoration of the Firehouse Building, the nonprofit is completing the ar-chitect master planning for the entire complex in 2013-2014. The capital campaign will be ramped up and also raising the required match for $500,000 in recently awarded grants from New York State for planning and exterior restoration.

See GOODWILL, page 11


888-303-4TSB (4872) www.tiogabank.com

“Tioga State Bank not only handles our business banking, but they also finance hot tubs, pools and fireplaces for our customers, at really competitive rates.” Audra Johnson

“When we did our latest expansion, we had to do some creative financing, and they stood behind us 110%.” Eric Johnson

Audra JohnsonEric JohnsonOwnersJohnson’s Pools & Spas

“They stood behind us 110%”

Member FDIC � Equal Housing Lender

GREATER BINGHAMTON BANKSRanked by GB Market Share, 06/30/13

Rank

Name

Address

Phone/Website

June 2013 GB Market

Share (%)1

GB Deposits

Total Deposits

($000)

Total Assets:

2013

2012

($000)

Local Offices

CNY Employees

Total FTE Employees Top Local Executives

Year

Estab.

1.M&T Bank

47-49 Front St.

Binghamton, NY 13905

(607) 723-8231/ mandtbank.com

42 $1,391,280

$66,479,793

$82,376,247

$79,846,314

18

672

14,279

Peter Newman, Binghamton Regional

President

1856

2.NBT Bank

52 S. Broad St.

Norwich, NY 13815

(607) 337-2265/ nbtbank.com

26 $875,414

$5,905,573

$7,471,637

$5,918,349

20

1,100

1,263

Martin A. Dietrich, President & CEO 1856

3.First Niagara Bank

65 Court St.


(607) 772-5412/ firstniagara.com

10 $340,562

$27,668,550

$37,101,238

$35,064,468

10

433

5,779

David Kavney, CNY Market Executive 1850

4.Tioga State Bank

1 Main St.

Spencer, NY 14883

(607) 589-7000/ tiogabank.com

8 $265,740

$309,023

$391,542

$399,305

9

93

93

Robert M. Fisher, President & CEO 1864

5.Citizens Bank

84 Court St.


(607) 723-5391/ citizensbank.com

6 $205,933

$76,635,324

$103,028,520

$106,894,242

7

NA

15,442

James P. Gaspo, President, New York 1828

6.Chemung Canal Trust Co.

100 Rano Blvd.

Vestal, NY 13850

(607) 797-1721/ chemungcanal.com

4 $131,225

$1,058,246

$1,255,102

$1,264,954

6

NA

351

Ronald M. Bentley, President & CEO 1833

7.Community Bank, N.A.

50 W. Main St.

Owego, NY 13827

(607) 687-8125/ communitybankna.com

3 $92,130

$5,748,137

$6,994,046

$7,139,903

5

NA

1,784

Mark E. Tryniski, President & CEO 1983

8.Peoples Neighborhood Bank

1235 Upper Front St., Suite 1


(607) 721-8830/ PeoplesNatBank.com

1 $44,813

$597,003

$689,687

$638,655

4

24

152

Alan W. Dakey, President & CEO 1905

THE LISTResearch by Nicole Collins

[email protected] (315) 579-3911

Twitter: @cnybjresearch

Footnotes:1. Data for this list came from the June 30, 2013 FDIC Deposit Market Share Report, previ-ously reported data from other lists, and the institutions’ individual websites.

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?Greater Binghamton includes Broome, Chenango, and Tioga counties.

nEEd A cOpy OF A LIST?Electronic versions of all our lists, with additional fields 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 [email protected]

ence renovating historic theatres. Killis Almond is also partnering with local firm, Keystone Associates Architects, Engineers, and Surveyors, LLC, on the project.

Case studies have shown that renova-tions of historic theatres have helped re-vitalize other communities. One example is the 1998 restoration of a 450-seat opera house in Newberry, South Carolina, ac-cording to documents the Goodwill Theatre provided. It attracted more than $100 mil-lion in new business to a nearby industrial park, sparked new restaurants and stores to open on once vacant streets, and con-tributed to 11 percent growth in the city’s tax base in its first six months of operation, according to the documents.

The Goodwill Theatre complex project is expected to create hundreds of con-struction jobs and 65 permanent jobs. In addition, the project has the potential to attract and retain a skilled and educated work force, as well as attract approximately 100,000 visitors to the Southern Tier region. It’s estimated that those 100,000 people will spend up to $1.5 million annually, according to the Goodwill documents.

In the worksWith the use of grants and funding, the

nonprofit has been able to stabilize the theatre building, including installing a new foundation and roof, and has cleaned up the inside. This past summer, the Goodwill Theatre was declared safe for public tours.

On the operations side, two years ago, the organization established a system for patrons to order tickets on the website. Online sales now account for 35 percent of ticket sales and help the nonprofit track the demographics of its patrons.

A committee of volunteers is helping the nonprofit create a social-media strategy that the small staff of five can implement.

The organization generated $1.4 million in revenue for the fiscal year ending Aug. 31, 2012.

“Due to the fact that we are a growing organization, our budget fluctuates greatly, and is based on what grants and capital campaign allows us to move forward within terms of the restoration,” says Kradjian.

While there is still much to accom-plish, from raising funds to the renovation, Kradjian says the goal is for the complex to be complete by 2020. This would make for an exciting 100th year anniversary for the Goodwill Theatre. q

Contact Collins at [email protected]

GOODWILL: The Goodwill Theatre complex project is expected to create hundreds of construction jobs and 65 permanent jobs


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Contact us or visit us online and secure your position today. The 2014 Book of Lists publishes in February. Will you be in it?

The book is getting full so don’t wait! There are still many strategic locations available. Position your company in the right place and get noticed all year.

Mary LaMacchia: 315.579.3907 • [email protected]

Bernie Bregman:315.579-3903 • [email protected]

Dan Buddie: 315.579.3905 • [email protected]

Reserve Your Space TODAY!

2014 Book

strategic locations

THE BUSINESS JOURNAL Book of Lists 2012

72TOP RANKS: LARGEST MANUFACTURERS IN CNY

Ranked by No. of CNY Full-Time Employees

RankPrev.rank

NameAddressPhone/Fax

Website

No. of CNY

Employees

Total No. of

Employees

CompanywideProducts Manufactured Locally

Markets Served Exporter?

Parent Company—

HeadquartersCompany Executives

YearEstab.

1.1 Lockheed Martin Mission

Systems & Sensors - Owego

1801 State Route 17C

Owego, NY 13827

(607) 751-2200/ 751-6997

www.lockheedmartin.com/ms2

2,800 126,000provides systems engineering, software

development and complex program management

for global security, civil, and commercial markets

aerospace, defense Y Lockheed Martin

Corporation—

Bethesda, MD

Daniel Spoor, Vice President &

Owego Site General Manager1957

2.2 Lockheed Martin Mission

Systems & Sensors (MS2)

497 Electronics Parkway

Syracuse, NY 13221

(315) 456-3828/ 456-0669

www.lockheedmartin.com/ms2

2,250 126,000provides systems engineering, software

development and complex program management

for global security, civil and commercial markets

aerospace, defense Y Lockheed Martin

Corporation—

Bethesda, MD

Greg Larioni,

Vice President & General Manager1995

3.5 BAE Systems

1701 North St.

Endicott, NY 13760

(607) 343-6141

www.baesystems.com

1,350 100,000software, systems integration, support for

defense applications, electronic-control and

power-mgmt. systems for military, commercial

air, and land vehicles, hybrid-propulsion systems

for urban-transit buses

technology, defense,

commercial

Y BAE Systems plc—

London, England

Dan Gobel, President

Amar Rai, Site Executive-Johnson

City

Harry Gough, Site Exec.- Rome

1949

4.4 Welch Allyn

4341 State Street Road

Skaneateles Falls, NY 13153

(315) 685-4100/ 685-2608

www.welchallyn.com

1,3002,750

medical-device manufacturermedical, health care Y

same—

Skaneateles Falls

Julie Shimer, President & CEO

Steve Meyer, EVP Global Business

Karen Roscher, EVP & CFO

Daniel Fisher, EVP & Chief HR Officer

Louise McDonald, EVP & Chief

Marketing Officer

1915

5.3 Endicott Interconnect

Technologies

1093 Clark St.

Endicott, NY 13760

(866) 820-4820/ 755-7000

www.endicottinterconnect.com

1,2501,250 designs and manufactures electro-mechanical

equipment, printed circuit boards, semi-

conductor chip packaging, and other engineering

services

aerospace & defense,

medical, computing &

communications,

advanced test

equipment

Ysame

James J. McNamara, President &

CEO

William Lynn, CFO

Michael Hills, COO

Eric Hills, VP Business Development

Annamaria Mastronardi, VP HR

2002

6.7 The Raymond Corp.

20 S. Canal St.

Greene, NY 13778

(607) 656-2311/ 656-9005

www.raymondcorp.com

1,200NA

designs and manufactures electric lift trucks material handling for

retail, grocery,

manufacturing, home

improvement

Y Toyota Industries

Corp.—

Japan

Charles Pascarelli, President, Sales/

Marketing Division

Mike Field, President, Operations &

Engineering Division

Edward J. Rompala, CFO

1922

7.8 Alcoa- Massena Operations

Park Ave. E.

Massena, NY 13662

(315) 764-4011/ 764-4460

www.alcoa.com

1,10097,000

molten aluminum, billet, sow, rodtransportation,

aerospace,

construction, defense

NAlcoa, Inc.

—New York

Faye Lawrence, AFE Plant Manager

John D. Martin, Location Manager1902

8.9 Remington Arms Co.

14 Hoefler Ave.

Ilion, NY 13357

(315) 895-3200/ 895-3452

www.remington.com

1,0501,050

gun manufacturerhunting & shooting

sports

Y Remington Arms

Company—

Madison, NC

Igor Popov,

Plant Manager

1816

9.6 IBM Corporation

1701 North St.

Endicott, NY 13760

(607) 429-5556/ 429-4123

www.ibm.com

1,000426,751 service provider and manufacturer of hardware,

software, & other technology products

technologyY IBM Corporation

—Armonk

Kerin Flannery,

Endicott Senior Location Executive1911

10.9 ConMed

525 French Road

Utica, NY 13502

(315) 797-8375/ 797-0321

www.conmed.com

9503,100 medical-technology company with an emphasis

on devices and equipment for minimally invasive,

arthroscopic, general surgical, and

gastrointestinal procedures

medical technology Ysame

—Utica

Joseph J. Corasanti,

President & CEO

1970

11.10 BorgWarner Morse TEC, Inc.

800 Warren Road

Ithaca, NY 14850

(607) 257-6700/ 257-4778

www.borgwarner.com

90017,500 designs, develops, and manufactures automotive

transmission components and systems

automotive

manufacturers

Y BorgWarner Inc.—

Auburn Hills, MI

James Verrier, VP, President, & GM,

BorgWarner Morse TEC

1880

12.16 Tessy Plastics Corp.

488 State Route 5 W.

Elbridge, NY 13060

(315) 689-3924/ 689-7393

www.tessy.com

8501,250 minimally invasive surgical devices, packaging

market for a variety of consumer productsmedical, consumer

products, business

machines

Ysame

—Elbridge

Roland Beck, President & CEO

Joseph Raffa, VP & General Manager

Stuart Smurthwaite, VP of Operations

1973

.13 L. & J. G. Stickley, Inc.

1 Stickley Drive

Manlius, NY 13104

(315) 682-5500/ 682-6306

www.stickley.com

8501,350

premium-quality casegoods & upholstered/

leather furniture

residential &

commercial

YL. & J. G.

Stickley, Inc.—

Manlius, NY

Aminy I. Audi, President & CEO

John F. Brogan, CFO & SVP

Edward J. Audi, EVP & President,

Stickley Int'l

1900

14.15 Pall Corp.

3643 State Route 281

Cortland, NY 13045

(607) 753-6041/ 753-9653

www.pall.com

75011,000 develops and manufactures filtration products

aerospace,

biopharmaceutical,

fuel, beverage

companies

YPall Corp.

—East Hills, NY

Lawrence D. Kingsley, Pres. & CEO

Roberto Perez, COO

Lisa McDermott, CFO

Yves Bartelli, President, Life Sciences

Wolfgang Platz, President, Industrial

1946

15.17 Anaren, Inc.

6635 Kirkville Road

East Syracuse, NY 13057

(315) 432-8909/ 432-9121

www.anaren.com

6001,000

manufacturer of complex RF/microwave

networks & components for wireless, satellite,

defense, consumer electronics, health-care

markets

wireless

infrastructure,

consumer electronics,

aerospace/defense,

medical devices

Ysame

—East Syracuse

Lawrence A. Sala, President & CEO 1967

.NR Huhtamaki Inc.

100 State St.

Fulton, NY 13069

(315) 593-5311

www.us.huhtamaki.com

6001,500

paperboard and packaging material for food

products

ice cream, foodservice Y Huhtamaki Inc.—

Espoo, Finland

Thomas Meucci, Plant Manager 1886

17.NR Agro Farma Inc.

147 State Highway 320

Norwich, NY 13815

(607) 337-1246/ 847-8847

www.chobani.com

551584

Greek yogurt

nationwideN Agro Farma, Inc.

—Norwich, NY

Hamdi Ulukaya, President & CEO

Kevin Bucklin, VP Ops.

Maureen Hurley, VP IT

Doron Stern, VP Marketing

Kyle O'Brien, VP Sales

2005

18.19 Saab Sensis Corp.

85 Collamer Crossing


(315) 445-0550/ 445-9401

www.sensis.com

459521

provider of sensors, information processing,

simulation, and modeling services

aerospace, defense,

security

YSaab AB

—East Syracuse

Mark Viggiano, CEO

Larry Harris, SVP & CFO

Ken Kaminski, VP & General Manager

1985

19.NR Special Metals Corp.

4317 Middle Settlement Road

New Hartford, NY 13413

(315) 798-2900/ 798-2001

www.precast.com

45020,400

aerospace premium rotor grade superalloy aerospace, energy -

global

Y Precision Casting

Corporation(PCC)

—Portland, OR

Keith Dabbs, General Manager 1952

20.18 Bristol-Myers Squibb Co.

6000 Thompson Road


(315) 432-2000/ 431-9141

www.bms.com

42126,333 drug development & commercial manufacturer of

biologic medicines

worldwideY Bristol-Myers

Squibb—

New York, NY

Nancy Rurkowski, Executive Director

& GM Syracuse Operations1943

Note: Information was provided by representatives of listed organizations and their websites.

Other groups may have been eligible but did not respond to requests for information.

BAE Systems facility flooded in the fall and this address is temporary until it can find a permanent one.

Business Journal estimate

as of August 2011

Central New York includes Broome, Cayuga, Chemung, Chenango, Cortland, Herkimer, Jefferson,

Lewis, Madison, Oneida, Onondaga, Oswego, Seneca, St. Lawrence, Tioga, and Tompkins counties.

RESEARCH BY NICOLE COLLINS11/11

[email protected]

THE BUSINESS JOURNAL

Book of Lists 2012

73

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