The 2017-18 academic year was full of major business stories in the city of Syracuse and at Syracuse University. As the spring semester comes to a close, here’s a look back at three of the largest business-related stories of the year in Syracuse.

Tuition hike on the Hill

Syracuse University announced before the start of the fall 2017 semester that a $3,300 additional tuition premium would be added to first-year and transfer students’ tuition during the 2018-19 academic year. This premium is part of the Invest Syracuse initiative, a five-year $100 million academic fundraising plan. It’s not unusual for private research universities to add tuition premiums to fund capital projects, but this large of a premium is an exception, experts have said. Total cost of attendance is expected to move north of $70,000, making SU one of the most expensive colleges in the United States. The expected use of all of the premium costs remains unclear, something that incoming Student Association President Ghufran Salih and Vice President Kyle Rosenblum want changed.

Nojaim Brothers Supermarket closes

Nojaim Brothers Supermarket, which was founded in 1919 on Syracuse’s Near Westside, closed in October 2017 after 98 years of operation. Nojaim was located near public housing. The supermarket’s owner, Paul Nojaim, told Syracuse.com that the business closed in part because of the opening of a Price Rite about one mile away from Nojaim. Some residents lost access to healthy foods because of the closing. For many, Nojaim wasn’t just a supermarket, but also a community center. One thing is for sure: The city isn’t the same without Nojaim on Syracuse’s Near Westside.

Mayor Ben Walsh proposes first budget

Syracuse Mayor Ben Walsh proposed his first city budget in April. His proposal cuts funding for the department of public works, among other things, in an effort to close a $16.5 million budget deficit without raising property taxes. The Syracuse Police Department, under the budget, will receive a $630,000 budget increase next fiscal year. Altogether, an $11 million budget gap remains under Walsh’s proposal, and he has said that he expects to fill that gap with rainy day funds. The budget proposal is one of Walsh’s first impressions on local businesses during his term in office. While it’s his first proposal, it certainly won’t be his last.

Patrick Linehan is a freshman policy studies and economics dual major. His column appears biweekly. He can be reached at pjlineha@syr.edu.

 

Published on May 9, 2018 at 2:23 pm