Investment Complements "Southern Tier Soaring" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy
Empire State Development today announced that $30 million in Upstate Revitalization Initiative (URI) funding has been awarded to Binghamton University to complete its Health Sciences Campus in Johnson City. This latest investment will finalize the nursing school building which will be housed in a former Endicott Johnson shoe box factory, and be co-located with Binghamton’s new School of Pharmacy and Pharmaceutical Sciences. The new round of funding will also allow the University to acquire and develop private industry co-location space in a historic building, support the creation of an eldercare facility, and connect the campus to the downtown business direct.
Empire State Development President, CEO and Commissioner Howard Zemsky said, “Binghamton University not only provides outstanding educational opportunities for its students, it has a tremendous economic impact on the Southern Tier and the state, employing thousands and conducting groundbreaking research on its campus. By contributing to the revitalization of Johnson City, we're continuing the region's vigorous economic growth and community development."
The final phase of this project will complete the school’s Health Sciences Campus in the formerly blighted urban core of Johnson City. This expansion will create the demand for expanded student and faculty capacity at the Johnson City campus as well as the main campus in Vestal. Improvements are also being made to the University’s science buildings on campus supporting chemistry, physics, biological sciences and psychology. All of the improvements in Johnson City and on the main campus are part of the University’s strategic plan to grow its academic programs to help meet the needs of current and future students, in addition to meeting the growing workforce needs in the Southern Tier region and across New York State.
The initial anchor for the Johnson City campus, the new School of Pharmacy and Pharmaceutical Sciences, constructed with $60 million in state funding, opened in fall 2018. The school is creating more than 100 jobs and at full enrollment will include approximately 390 students and have an annual regional economic impact of approximately $100 million.
Binghamton University President Harvey G. Stenger said, “We thank Governor Cuomo and are thrilled he has once again shown that he understands how important these investments are to our region. The state support to date in our Health Sciences Campus in Johnson City has already led to an incredible return on investment, and this latest award to help Binghamton University finish the new campus will go a long way in transforming Johnson City’s economy. The $30 million will allow us to build, rehabilitate and equip buildings on our Health Sciences Campus and get us across the finish line.”
Assemblywoman Donna A. Lupardo said, “Binghamton University’s Health Sciences Campus is breathing new life into Johnson City. We’re already seeing new investments in the Village and a renewed interest in downtown revitalization. It is also repurposing an historic building that had become a symbol of blight and decline. This project, along with so many others, is exactly what we had in mind when the region won the Upstate Revitalization Initiative competition.”
Broome County Executive Jason T. Garnar said, “Thank you to Governor Cuomo and Empire State Development for making this investment in Binghamton University, a major hub of innovation and development in Broome County. I fully support this next phase in the Health Sciences Campus, which will continue to help the Southern Tier soar.”
About the Regional Economic Development Councils
The Regional Economic Development Council initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom up approach and establishing a competitive process for State resources.
After eight rounds of the REDC process, more than $6.1 billion has been awarded to more than 7,300 job creation and community development projects consistent with each region's strategic plans, projecting to create and retain more than 230,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.
Accelerating Southern Tier Soaring
Today's announcement complements "Southern Tier Soaring,” the region's comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $6.2 billion in the region since 2012 to lay for groundwork for the plan - attracting a talented workforce, growing business and driving innovation. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Binghamton, Johnson City and Corning as a destination in which to grow and invest. Now, the region is accelerating Southern Tier Soaring with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State's $500 million investment will incentivize private business to invest well over $2.5 billion - and the region's plan, as submitted, projects up to 10,200 new jobs. More information is available here.
Contact:
Kristin Devoe | [email protected] | 518-292-5107
ESD Press Office | [email protected] | (800) 260-7313