Onondaga County

SYRACUSE, N.Y. – Onondaga County Executive Ryan McMahon today announced that S&P Global Ratings has upgraded Onondaga County’s credit rating on general obligation debt rating has been elevated to AA+, marking one of the strongest financial ratings achievable for a local government and underscoring the county’s exceptional fiscal management, accelerating economic success, and long-term stability.

The upgrade, issued by S&P Global Ratings, highlights the county’s deep and diversifying tax base,
consistently strong operating performance, and disciplined long-term planning. Recent developments across residential, commercial, and industrial sectors — along with consistently strong sales tax collections and job creation — has reinforced confidence in the county’s economic trajectory.

A central driver of this momentum is the county’s rapidly expanding economy. The ongoing development of the Micron semiconductor campus has positioned Onondaga County as one of the nation’s emerging hubs for advanced manufacturing. This investment has catalyzed additional private-sector growth and spurred expansions from long-standing employers including Saab, TTM Technologies, and Onsemi, contributing to rising economic output and strengthening the county’s long-term prospects.

“Today’s announcement is a clear and resounding affirmation of Onondaga County’s transformation,” said County Executive Ryan McMahon. “Our county is growing, innovating, and leading in ways that are being recognized nationally. This achievement reflects the dedication of our county workforce, the strength of our partnerships, and our unwavering commitment to smart, responsible fiscal management.”

Analysts also recognized the county’s conservative budgeting practices, robust reserve levels, and
comprehensive financial policies governing debt, investments, and long-term planning. These strategies have enabled Onondaga County to maintain stability while absorbing state mandates, investing in housing, and preparing for the substantial economic growth expected as Micron and other employers scale their operations.

“This rating upgrade is a validation of the hard work our team puts in every day to ensure Onondaga County is financially strong, resilient, and growing,” McMahon said. “Our planning, our policies, and our partnership with businesses and communities continue to deliver real results for taxpayers.”

Key strengths noted in the rating action include:

• A steadily expanding property tax base driven by ongoing development
• Strong operating performance supported by conservative revenue forecasting
• Well established financial policies guiding reserves, investments, and debt management
• Affordable debt levels even with a sizable, long term capital plan
• Significant economic expansion fueled by major employers and the Micron campus development

With the county preparing its fiscal year 2027 budget, officials emphasized that the upgrade reflects both past performance and confidence in the county’s future direction. Strategic investments in housing, infrastructure, and workforce capacity position Onondaga County to capitalize on accelerating regional growth.

“As we look ahead, this is a moment of celebration for the entire community,” McMahon added. “Our
economic momentum is real, our financial foundation is rock solid, and we are entering a new era of
opportunity for the people of Onondaga County.”