Wegmans Food Market, the popular family-owned regional chain, now has a branch in New York City. The retailer opened a 74,000-square-foot store in the Brooklyn Navy Yard, making it the 101st store for the 103-year-old company. With headquarters in Rochester, New York, Wegmans locations can be found all along the east coast as far south as North Carolina. New York Sen. Chuck Schumer attended the store’s grand opening ceremony and explained that Wegmans “is what…
Teens and young adults (under 18 years old) are not eligible to apply for their own credit rating, but they can be “carried” on their parents’ cards as authorized users. While giving a teenager a credit card may seem precarious, it can also be a positive educational tool for emerging adults. Jack E. Kosakowski, president and chief executive of Junior Achievement USA, an organization for financial literacy and entrepreneurship promotion among young people says: “I…
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…
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…
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…