Syracuse, New York

Syracuse is an American city in Central New York. As of the 2000 U.S. Census, the city had a total population of 147,306, and its metropolitan area had a population of 732,117. It is the county seat of Onondaga County and the economical and educational hub of Central New York, a region with over a million inhabitants. Syracuse is also a relatively large convention city, with a downtown convention complex and the Empire Expo Center directly west of the city, which hosts the annual Great New York State Fair. Syracuse was named after the original Syracuse, a city on the eastern coast of Sicily, Italy, which shares some similarities with this one, including a formerly-important salt industry and a neighboring town of Salina.

Economy

Syracuse's economy has faced challenges over the past decades as industrial jobs have left the area. This trend continued into the 1990s and picked up speed again after September 11, 2001. Syracuse's top employers are now primarily in education and in the service industry.

Related Topics:
September 11, 2001 - Education - Service industry

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Top employers

The top employers in the Syracuse region and the size of their workforce, as of January 1, 2005:

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• Syracuse University: 7,201
• State University of New York Upstate Medical University: 6,150
• Niagara Mohawk (A National Grid Company): 5,173
• Wegmans Food Markets: 4,685
• Oneida Nation and Oneida Nation Enterprises: 4,245
• Penn Traffic Company: 4,000
• Magna International: 3,400
• St. Joseph's Hospital Health Center: 3,364
• Verizon Communications: 2,700
• Lockheed Martin Corp.: 2,200
• Loretto: 2,122

(source: Syracuse Post Standard)

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Future

The Canadian Magna International bought the New Process Gear Division of New Venture Gear, saving it from being shut down by Daimler-Chrysler. Several smaller companies in the area continue to add a small number of jobs. In June 2004 the Bank of New York announced it would bring up to 800 jobs to Downtown Syracuse. In August it was reported that the job growth rate of the area was 1.4%. In October Lockheed Martin announced it would add up to 300 electrical, mechanical, and software engineering positions by 2007. In January 2005, AXA, which recently purchased MONY, announced it was bringing 300 more jobs downtown, and Sutherland Global Services said it would add 125. Other companies that continue to grow in the area include Welch-Allyn, Anaren, and Sensis. Today the Syracuse area has no extremely large employers, but rather many smaller ones, which provides for a certain amount of stability. Additionally, eight of the area's top ten employers are in the education or service industry, which tend to be much more stable than the manufacturing industry.

Related Topics:
Canadian - Magna International - Daimler-Chrysler - 2004 - Bank of New York - Downtown Syracuse - 2007 - 2005 - AXA - MONY - Sutherland Global Services - Welch-Allyn - Anaren - Sensis - Education - Service industry - Manufacturing industry

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If the Pyramid Companies have their way, Syracuse will be transformed into an extremely large tourist destination, anchored by their proposed five-billion-dollar DestiNY USA resort. Except for a ceremonial groundbreaking in 2002 the project has seen no construction since it was proposed over four years ago. Recently it was announced that construction is scheduled to begin in 2005. In addition, the Pyramid Companies plan to build a massive technology park in the suburb of Salina.

Related Topics:
Pyramid Companies - DestiNY USA - Resort - 2002 - Salina

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