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Eco-Friendly Construction Aided by New Lending Program

New environmental laws, designed to combat climate change, are driving up the costs of real estate development. Now developers are taking advantage of a financing tool to help pay for green-building requirements. The loan model, known as Property Assessed Clean Energy, or PACE, was created in 2008 to subsidize the costs of building improvements that create environmentally sustainable and resilient properties. PACE is emerging as developers go-to for creating more energy-efficient buildings that are compliant with…

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New York Businesses Selected as Finalists in Grow-NY Food Business Competition

Seven New York businesses were among eighteen companies selected to take part in the first round of the state-funded Grow-NY food innovation and agriculture technology business challenge. The finalists were chosen from nearly 200 startups that had submitted applications to the contest, which seeks outstanding ideas for new food, beverage or agriculture businesses. An additional two rounds of competition will ultimately select seven winners who will be awarded a total of $3 million, paid in stages based…


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Health-tech hub expands to New York

New York is the newest location for an innovation center of the Chicago-based health-tech incubator Matter.  In collaboration with the New York City Economic Development Corporation, Matter is working to connect startups with life sciences companies, health care providers, academic research centers and health-related organizations. Steven Collens, Matter CEO, said “the expansion will create East Coast opportunities for Chicago-based companies and help New York companies enter the Midwest,” yielding economic growth for all. Matter plans to leverage its nonprofit, no-equity model to…


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NY Reopens Iconic Flagship Apple Store

The iconic cube on Fifth Avenue in New York City is now reopened for business. The Apple store was closed for renovations nearly two years ago. Now the revamped location, double the size of the previous space, facilitates better business and optimizes users’ experience. The store is one of the first major openings since Deirdre O’Brien, Apple’s HR chief, took over as head of retail. She explained how “Apple worked with Foster + Partners to reimagine the…


NYC Now Offers Salary Negotiation Classes for Women

New York City is now offering women a free class on negotiation skills so that they can secure raises and better employment conditions. The two-hour workshop is available across New York’s five boroughs. An online course is also available. The goal is to reach a total of 10,000 women. Women in New York earned 88% of what men did in 2016, according to American Association of University Women research that looked at median annual earnings for full-time…


Recent New York Transactions

New York business transactions – the purchase and sale of large companies and corporations – happen on a regular basis.  Here we look at three of them: LeverPoint, Lord & Taylor and Fiorello Pharmaceuticals. A recent announcement was made declaring that New York fund management service provider LeverPoint will be acquired by Chicago private equity firm GTCR. Once acquired it will be merged into GTCR’s portfolio firm, Ultimus Fund Solutions.  This move will broaden Ultimus’ presence in New York…


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US Tariffs on Chinese Imports

James McManus, Head of EFT Research at Nutmeg talks about the implications for US citizens on finances of Donald Trump’s tariffs on Chinese imports.


Bitcoin News

A couple of weeks ago, a key license for Bakkt was approved by state regulators in New York, enabling it to become a limited trusted company.  Bakkt – founded last year – was created in order to “build the future of digital asset infrastructure.” This will facilitate the process for customers to keep their bitcoins and make cryptocurrency purchases. What this means in practical terms is that Bakkt will be able to store a variety…


Conducting Businesses in New York: Pros and Cons

Many people dream of having their own businesses.  But how practical is it?  What are some of the obstacles involved in opening and maintaining a business in America today? According to a recent National Bureau of Economic Research report, immigrants are twice as likely to have their own businesses in America than those who grew up in the country.  This generates $1 trillion in annual sales review.  One possible explanation for this is that people…


New York State Tightens Privacy Laws

New York State will soon have a new data security program to help protect businesses. Governor Andrew M. Cuomo just signed the bill that will update the state’s privacy law and will go into effect in 240 days. The law will expand what is defined as personal information and will add requirements and timelines for people to be notified of data breaches. As Cuomo said, “As technology seeps into practically every aspect of our daily…