logo
Over $1 billion given to CNY in New York State Budget

Over $1 billion given to CNY in New York State Budget

Yahoo16-05-2025

SYRACUSE, N.Y. (WSYR-TV) — Central New York will see more than $1 billion in funding from the New York State Fiscal Year 2026 Enacted Budget.
According to State Senator Chris Ryan, these investments include education funding, workforce development, transportation infrastructure, healthcare, veterans resources, and Micron-related projects to support the region's transformation into a global semiconductor hub.
Here's a breakdown of how the money allocated will be used in the 50th Senate District.
A total of $32,327,845 will be allocated for local roads and transportation for the 50th Senate District. This includes:
● CHIPS – $19,513,300 (8.12% increase)
● Extreme Winter Recovery (EWR) – $3,042,555
● PAVE-NY – $4,493,502
● Pave Our Potholes (POP) – $2,995,668
● State Touring Routes (STR) – $2,282,818
An additional $116 million will be provided for water infrastructure investments tied to Micron's planned semiconductor facility, supporting system capacity upgrades and clean water access for surrounding communities.
$450 million in capital funding will be provided for SUNY Upstate's new emergency room, which serves 17 counties in the state.
SUNY Oswego receives $16 million, part of a $114 million increase in SUNY operating aid, and an additional $5.2 million in capital funding for campus-wide maintenance.
Over $5 million is included for job training and economic growth:
● $1 million – Manufacturers Intermediary Apprenticeship Program (MIAP)
● $750,000 – Manufacturers Association of Central New York (MACNY)
● $500,000 – MACNY's Real Life Rosies
● $1.5 million – CenterState CEO (through Empire State Development)
● $100,000 – Workforce development with Onondaga Community College to enhance care for people with disabilities
The Excelsior Jobs Program was also extended by five years, adding new reporting requirements tied to semiconductor research and workforce development, and requiring employers using workforce retention credits to maintain staffing levels or face a reduced credit.
The State Budget provides $778,522,939 in school aid to 16 school districts in Senate District 50, a 5.4% increase over last year's budget.
● North Syracuse – $98,588,383
● Liverpool – $93,229,526
● Fulton – $67,191,488
● Baldwinsville – $66,050,099
● Central Square – $62,338,954
● Oswego – $60,933,976
● West Genesee – $56,790,734
● East Syracuse Minoa – $47,347,746
● Mexico – $38,934,037
● Fayetteville-Manlius – $36,152,664
● Hannibal – $33,662,589
● Phoenix – $33,030,645
● Solvay – $25,309,271
● Jamesville-DeWitt – $24,716,222
● Westhill – $24,323,692
● Lyncourt – $9,922,913
$150,000 was allocated to Best Buddies to expand inclusive school-based programs fostering friendships between students with and without intellectual disabilities; $500,000 for Boys & Girls Club mental health programs; and $1 million for the Nutrition Initiative, increased from $750,000 in last year's budget.
The Budget supports veterans through a $192,400 allocation to Onondaga County and $104,000 to Oswego County as part of the Joseph P. Dwyer Veteran Peer to Peer Services Program.
● $250,000 for the Syracuse Crunch, supporting CNY's AHL team
● $50,000 for the CNY Lyme & Tick-Borne Disease Alliance
The 50th Senate District covers Onondaga and Oswego Counties
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Musk-Trump Breakup Exposes Cracks in Wall Street's Meme Casino
Musk-Trump Breakup Exposes Cracks in Wall Street's Meme Casino

Yahoo

timean hour ago

  • Yahoo

Musk-Trump Breakup Exposes Cracks in Wall Street's Meme Casino

(Bloomberg) -- It took less than a day for the great Donald Trump-Elon Musk split to reshape debates over billionaire power and influence in American capitalism. Next Stop: Rancho Cucamonga! ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Where Public Transit Systems Are Bouncing Back Around the World US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Trump Said He Fired the National Portrait Gallery Director. She's Still There. At another level, the breakup was a reminder of something else: the perils of personality-driven investing, a growing and lucrative business for the Wall Street bankers cranking out, rapid-fire, a never-ending array of new financial products. Few have done more to fuel these gambling spirits than the president and the world's richest man. In a matter of hours, a loosely connected web of Musk-linked trades — and a few tied to Trump — cratered as the public feud escalated. Dogecoin sank 10%; a publicly traded fund dangling SpaceX exploration for retail consumption slid 13%; leveraged bets amping up returns on Musk-related ventures lost a quarter of their value or more. Shares of Trump's media company slid. The spat — ignited by the deficit-expanding tax bill threatening Tesla's electric-vehicle subsidies — cooled on Friday and asset valuations steadied. But by then, investors had gotten the message loud and clear. 'You can go from being an incredible beneficiary one moment and then being bludgeoned the next,' said Peter Atwater, founder of Financial Insyghts. 'Anytime you are investing in something that is as crowded as these Elon Musk-related vehicles, you are going to be either the beneficiary or the victim of his standing.' The breakup drama was backdrop to a comparatively sleepy week in regular markets. The S&P 500 ended the week 1.5% higher, while the extended FANG index — which doesn't include Tesla — hit a record. The dollar touched its lowest level in about two years. Ten-year Treasury yields jumped more than 10 basis points this week, as Friday's jobs data eased concerns about an imminent economic slowdown. But for the casino crowd on Thursday, things got ugly. These investors aren't just trading stocks or crypto, they're paying for proximity to dominant personalities. Tesla is a financial avatar for Musk's ambitions. Trump's political resurgence reverberates across his media company, his fast-expanding crypto empire and MAGA-theme products across the broader industry. Each post, endorsement and headline is a chance to pull capital into the retail investment machine. It hasn't just drawn in risk junkies — it's built an entire product architecture, from speculative bets to more conventional funds tied to the fortunes of billionaire Musk. Vehicles like Baron Partners Fund and the Ark Innovation ETF got caught up in the selloff before markets rebounded on Friday. Tesla's sharp rout — its worst week since 2023 — was fueled by projections that the company faces a $1 billion hit to full-year profit, if it loses a tax credit from Trump's bill. Meanwhile, the president's businesses pushed deeper into the financial ecosystem. His media company was one step closer to launching the Truth Social Bitcoin ETF, the latest in a string of crypto-linked assets and 'MAGA'-themed investment vehicles. For those with the nerve to dive into the newfangled, the gains have been eye-popping at times. A closed-end fund with Space-X exposure, Destiny Tech100 Inc., surged about 500% in just a month after the Nov. 5 election. Dogecoin went from 15 cents to above 43 cents in November, when Ark surged by 26% in less than two weeks. Speculative spirits have run high since the pandemic but soared anew after Trump buddied up with Musk on the campaign trail and won the White House, backed by the $250 million the Tesla founder spent on the election. The meme ethos was cemented when Musk's program to cut government spending took its name from a crypto token born as a canine-themed joke. 'I put him in the separate category of the Zeus of personality cults, beyond anything that has ever happened,' said Jay Hatfield, CEO of Infrastructure Capital Management. 'We've never had anybody running a major company like him.' The result has been a speculative spasm that, until this week, was often insulated from old-school markets convulsed by Trump's on-again-off-again tariff threats. An element of the craze that infuriates Wall Street's old guard — the near-impossibility of forming a valuation case around things like crypto tokens and public vehicles for private holdings — proved a virtue at a time of rampant economic uncertainty. 'Retail traders — the bro trade component of retail — they've never really cared much about fundamentals,' said Dave Mazza, Chief Executive Officer at Roundhill Investments who in February launched a Tesla-focused product. 'These folks really believe in the narrative on stocks like Tesla and Palantir Technologies Inc. Some of these names are really dependent upon a dream premium and not what they actually do for business.' Another case in point: 16% of ETFs launched this year offer single-security strategies that use either leverage or options overlay, according to Bloomberg Intelligence's Athanasios Psarofagis. That's a record. Many target retail investors who trade aggressively, take on higher risk, and use them for dip buying. 'The rise of degen leverage and derivative products on the highest profile stocks makes a mockery of the idea that the market is 'allocating capital' in any rational way,' says Dave Nadig, an ETF industry expert. 'It's immensely profitable. That's why very few people are even suggesting there are any issues in ETF land.' --With assistance from Vildana Hajric and Isabelle Lee. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Tesla Shares Climb on Fundstrat Buying Signal
Tesla Shares Climb on Fundstrat Buying Signal

Yahoo

time3 hours ago

  • Yahoo

Tesla Shares Climb on Fundstrat Buying Signal

Tesla (NASDAQ:TSLA) stock jumped 5.9% Friday after Fundstrat's Tom Lee called the recent pullback a good entry point, arguing that Elon Musk's public split with Donald Trump helps the EV maker shed political baggage. Lee told CNBC that disassociating Tesla from MAGA controversies ingratiates Musk with the broader U.S. and global audience, offsetting backlash that drove TSLA's shares down roughly 30% year-to-datemaking it the worst-performing large-cap stock of 2025. Despite that slide, Tesla remains the 10th largest company by market capitalization, thanks in part to Q1 deliveries of 387,000 vehicles and guidance for 1.8 million units in fiscal 2025. Lee noted that while Trump could threaten to cancel Musk-related federal contracts, Tesla's services are too integral to be cut, and he believes the political drama, not just a general EV slowdown, has weighed on the stock. Indeed, broader EV demand has cooled after booms in 2021 and 2022, but Tesla's scaleits 65% gross margin on Model 3 and Y vehicles and expanding energy-storage businessstill offers upside as manufacturing costs decline. Investors seized on Lee's framework, sending TSLA higher even as U.S. EV sales dipped 8% in April amid rising interest rates and supply-chain hiccups. Why It Matters: Today's bounce suggests that, despite headwinds from politics and a softened EV market, analysts see value in Tesla's long-term growth trajectory, production scale and margin profile, making it an attractive entry for contrarian investors betting on a rebound. Investors will be watching Tesla's Q2 delivery figures, due in late July, and any updates on Musk's broader political positioning to gauge whether this rally can extend. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Tesla Shares Climb on Fundstrat Buying Signal
Tesla Shares Climb on Fundstrat Buying Signal

Yahoo

time3 hours ago

  • Yahoo

Tesla Shares Climb on Fundstrat Buying Signal

Tesla (NASDAQ:TSLA) stock jumped 5.9% Friday after Fundstrat's Tom Lee called the recent pullback a good entry point, arguing that Elon Musk's public split with Donald Trump helps the EV maker shed political baggage. Lee told CNBC that disassociating Tesla from MAGA controversies ingratiates Musk with the broader U.S. and global audience, offsetting backlash that drove TSLA's shares down roughly 30% year-to-datemaking it the worst-performing large-cap stock of 2025. Despite that slide, Tesla remains the 10th largest company by market capitalization, thanks in part to Q1 deliveries of 387,000 vehicles and guidance for 1.8 million units in fiscal 2025. Lee noted that while Trump could threaten to cancel Musk-related federal contracts, Tesla's services are too integral to be cut, and he believes the political drama, not just a general EV slowdown, has weighed on the stock. Indeed, broader EV demand has cooled after booms in 2021 and 2022, but Tesla's scaleits 65% gross margin on Model 3 and Y vehicles and expanding energy-storage businessstill offers upside as manufacturing costs decline. Investors seized on Lee's framework, sending TSLA higher even as U.S. EV sales dipped 8% in April amid rising interest rates and supply-chain hiccups. Why It Matters: Today's bounce suggests that, despite headwinds from politics and a softened EV market, analysts see value in Tesla's long-term growth trajectory, production scale and margin profile, making it an attractive entry for contrarian investors betting on a rebound. Investors will be watching Tesla's Q2 delivery figures, due in late July, and any updates on Musk's broader political positioning to gauge whether this rally can extend. This article first appeared on GuruFocus.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store