Don’t Get Left Behind on Innovation

By: Luis Gallardo

If the innovations of 2014 have proven one thing, it’s this: We are living in the future. With the announcement of the Apple Watch and with Google Glass hitting the market, technology is clearly picking up speed, and there’s no sign of it slowing down.

Although becoming innovative is crucial for companies in 2015, getting there isn’t easy. When prioritizing innovation this year, allow these three tips to guide your efforts:

• Be vigilant and flexible. Remember that the status quo is no longer acceptable, no matter how well a company is faring in today’s market. Always be aware of the changing climate to identify potential challenges and opportunities and be ready to adapt.
• Look for creative applications. Applying old concepts to new industries has been key to innovation in nearly every industry. We’ve seen Nespresso fuse coffee and luxury, and even McDonald’s adopted Ford’s production model to make hamburgers.
• Empower your employees. Companies rely on their workers to inspire innovation, and that includes founders and people without a Ph.D., MBA, or scientific background. Your staff members are one of your greatest resources. They hold intimate knowledge of your company, so it’s vital that you make them feel comfortable sharing their ideas and innovations.

There are many exciting business and technology innovations ahead, and that can feel daunting. But by keeping an eye on emerging trends, you can use them to your advantage, building knowledge, credibility, and revenue this year.

See this and other newsletter articles at http://amt-mep.org/files/3014/2506/1381/2015-03.pdf

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Job Development Authority Loan Program

What is the Job Development Authority (JDA)?

• JDA provides direct loans for the growth of manufacturing and other eligible businesses within New York State by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings (“Real Estate” projects) or for purchasing machinery and equipment (“M&E” projects).
• In most cases, JDA loans can lend up to 40% of the total project cost of Real Estate or M&E projects.
• Loans can be made for up to 60% for those projects located in Empire Zones or economically distressed areas.

 JDA Financing Structure

• The combination of a bank loan and a JDA loan allows up to 90% financing of a project.
• Loans can be from $250,000 - $3,500,000.
• JDA Real Estate Loan is normally a second mortgage loan, subordinate to a first-mortgage loan provided by a bank.
• M&E Loans are secured by a first lien, co-equal with the bank’s lien, on the M&E being financed.
• 50% Bank Loan.
• 40% JDA Loan.
• 10% Borrower Equity.

 Requirements

• The Borrower must secure a letter of commitment from the bank detailing the banks portion of the project cost.
• Personal guarantees are required from any person owning 20% or more of the Operating Company for whose benefit the JDA  Loan is being made.
• The Borrower must provide at least 10% of the project cost as an equity contribution to the project.

What are the costs involved with utilizing JDA?

• $250 Application fee.
• JDA charges a 1% one-time fee to the borrower on the JDA portion of the loan as opposed to higher fees charged by similar programs.
• In Real Estate Transactions, NYS Mortgage Recording Taxes are waived for the JDA portion of the loan amount.

Contact Jim Cunningham at 607-725-1225 for more information

See this and other newsletter articles at http://amt-mep.org/files/3014/2506/1381/2015-03.pdf

Visit our website at http://www.amt-mep.org

 

Seminar on Best Practices of Successful Exporters

Overview
Join Mohawk Global Trade Advisors, the U.S. Commercial Service, and M&T Bank for an insightful look into the programs, tools, and techniques used by the country’s most successful export companies. (3 CES Credits)
• U.S. Commercial Service Overview
• Banking, Documentary Collections, Letters of Credit and More
• Export Compliance and International Transportation Tips

Seminar includes breakfast. Space is limited, so please register by March 4th to reserve your seat.

Date:
March 11, 2015

Time:
9:00 am to 12:00 pm

Location:
Mohawk Global Logistics
123 Air Cargo Road
North Syracuse, NY 13212

Cost:
$50.00

Registration:
http://mohawkglobalta.com/seminars-events/event-registration/?ee=69


See this and other newsletter articles at http://amt-mep.org/files/3014/2506/1381/2015-03.pdf

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Operation: Start Up & Grow

Veteran Business Conference



Ready to start a business?
or expand your existing business?

 

Find all the resources for veterans in one location at this FREE conference!
The 8th Annual Operation: Start Up & Grow is the premier veteran business conference
in Upstate New York for veterans and members of the military community who
want to start or expand their own small business. Don’t miss it!

Date:
March 19, 2015

Time:
8:30 am to 1:30 pm

Location:
SRC Arena
Onondaga Community College
Syracuse, NY

Cost:
FREE

Registration:
http://www.sba.gov/operationstartup
or call 315-471-9393

See this and other newsletter articles at http://amt-mep.org/files/3014/2506/1381/2015-03.pdf

Visit our website at http://www.amt-mep.org

Spring 2015 Quality Conference

The Binghamton Section of

The American Society for Quality "ASQ" in Conjunction with

The Institute of Electrical & Electronic Engineers "IEEE"

 

Presents The Spring 2015 Quality Conference

 

For more information or to register visit http://www.asqbinghamton.org/ or

call Bob Lerner at 607-348-6022

Date:
April 18, 2015

Time:
9:00 am doors open
9:30 am Registration & Networking
10:00 am to 4:00 pm Preceedings

Location:
The Broome County Public Library
185 Court St
Binghamton, NY

Cost:
$15 ASQ Members / $25 Non-Members

See this and other newsletter articles at http://amt-mep.org/files/3014/2506/1381/2015-03.pdf

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Associates’ Corner - Buckingham Manufacturing Co., Inc.

The Buckingham name is well known to linemen and arborists throughout North America and internationally as a company they rely on to do their jobs efficiently and safely.

Buckingham’s roots were established in 1896 when Wilmont Stephens, owner of a Binghamton blacksmith shop, began producing pole climbers. In 1913, W. H. Buckingham purchased the firm and changed the name from the Stephens Company to what is now known as Buckingham Manufacturing Co., Inc. Today, the company is known as Buckingham Group following the addition of two distribution companies and a training company.

H. Andrew Batty Jr. and a new management team took ownership in 1984. Today, he and James Pennefeather continue to guide the company as they expand and improve the original product line; introduce new product lines; expand their sales and distribution system domestically and internationally; and introduce new manufacturing technology and reorganized production.

Buckingham is a medium-sized company with the expertise and agility to develop and deliver quality products based on customer requirements, lead times, engineering changes and schedule changes. Their diverse work force contributes to the breadth and depth of their knowledge and experience and senior management continues its commitment to quality improvements.

Today, Buckingham is ISO 17025-2005 Accredited, ISO 9001:2008 Certified and is a CSA Group Qualified Testing Facility. Buckingham is primarily responsible for the design and manufacture of climbing and work positioning equipment, fall protection gear, and accessories specifically designed for the electric, telecommunications, cable and professional arborist markets. The company follows all applicable standards including OSHA, ANSI, ASTM, CSA and CE requirements pertaining to their product line.

Mr. Batty explained that Buckingham’s on-going success is dependent on its loyal customer base and the continued addition of new and satisfied customers. "Outstanding customer service is the backbone of a successful company and our customers appreciate the knowledge, experience and flexibility of our staff." In sharp contrast to the national norm, Buckingham’s customer service staff has long tenure at Buckingham. "Our service representatives know the products, interface with our shop managers and frequently work directly with manufacturing to satisfy customer requirements."

For more info, contact: Jim Nichols at 607-773-2400 or www.buckinghammfg.com.

See this and other newsletter articles at http://amt-mep.org/files/3014/2506/1381/2015-03.pdf

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Associates’ Corner - Standard Printed Circuits

Standard Printed Circuits, Inc. is an independent manufacturer of Microwave/RF and high speed digital printed circuits working for the Military, Aerospace, and Telecom Industries. Operating continuously since 1967, SPC has become a leader in utilizing the full spectrum of advanced dielectrics to produce multilayer PCB designs up to 24 layers.  80% of their product line consists of PCBs used in both passive and active RF components including: Couplers, filters, dividers, combiners, antennas, and amplifiers making SPC one of the most experienced RF/Microwave PCB shops in North America.

By employing some of the most advanced technology in the industry, SPC routinely processes to precision tolerances for circuit alignment, line control, PIM reduction, thermal management, and superior bonding to PTFE substrates. A wide selection of final finishes along with their dicing capabilities completes SPC’s ability to provide their customers with a full menu of in-house capabilities.

SPC offers quick turn prototypes to medium volume production quantities. They are ISO 9001,  AS 9100 C, ITAR registered, and UL certified.

Visit them at www.standardpc.com

See this and other newsletter articles at http://amt-mep.org/files/3014/2506/1381/2015-03.pdf

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