ESD Announces Call For Project Proposals For Greater Binghamton Fund

Strategic Economic Investment Plan Will Fund Key Projects in Binghamton, Johnson City and Endicott

December 6, 2017

Investment Complements "Southern Tier Soaring" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy

Empire State Development (ESD) today announced a call for proposals has been issued to implement transformative projects related to the $20 million Greater Binghamton Fund, a central part of the regionally designed Southern Tier Soaring economic development plan. The initiative will facilitate key economic development projects in Binghamton, Johnson City and Endicott in an effort to transform targeted urban centers, or "iDistricts," into communities where the next generation of workers want to live, work, and play. The fund will support innovative and creative projects, including mixed-use and commercial development, housing rehabilitation, and streetscape improvements to help catalyze the regional economic ecosystem through targeted downtown redevelopment. Submissions associated with this Open Call for Proposals are due no later than 4 p.m. on January 19, 2018. All eligible projects must be located within the geographic boundaries of the designated “iDistricts”.

Empire State Development President, CEO & Commissioner Howard Zemsky said, “The Greater Binghamton Fund will stimulate new investment and help to create sustainable downtown economies. This effort marks another exciting chapter in economic narrative of the Southern Tier which continues to take shape.”

Interested applicants are encouraged to attend any of the three public informational meetings for the Greater Binghamton Fund. Each will be co-hosted by Empire State Development, the Mayors of each “iDistrict” community and the Greater Binghamton Work Group:

  • Tuesday, December 12th:  3:00 p.m., Endicott Visitors Center, 300 Lincoln Avenue, Endicott, NY
  • Tuesday, December 12th:  6:30 p.m., Koffman Southern Tier Incubator, 120 Hawley Street, Binghamton, NY
  • Monday, December 18th:  7:00 p.m., Johnson City Courthouse, 31 Avenue C, Johnson City, NY

The Greater Binghamton Fund will support projects that fall within the geographic boundaries of the designated innovation districts which are anchored by significant economic drivers. These include the Southern Tier High Technology Incubator (Binghamton), the Binghamton University School of Pharmacy and Pharmaceutical Sciences (Johnson City), and the Huron Campus (Endicott), which is the site of Binghamton University's Center for Advanced Microelectronic Manufacturing (CAMM), and the recipient of a $20 million investment from New York State to conduct advanced research and development in flexible circuitry.

The Greater Binghamton Fund is an important part of the region's winning Southern Tier Soaring Upstate Revitalization Initiative plan which was announced by Governor Cuomo in December of 2015. The $500 million plan is working to grow the Greater Binghamton Innovation Ecosystem by establishing the region as a premier destination for talent, new business development and solidifying partnerships for commercialization of emerging technologies. The plan is also investing in regional strengths in advanced manufacturing, healthcare and science, technology, engineering and math (STEM) education as well as the supporting research and development capabilities of academia and industry in the region.

Southern Tier Regional Economic Development Council Co-Chairs Tom Tranter, President & CEO of Corning Enterprises and Harvey Stenger, President of Binghamton University said, "The targeted investments which will be born from the Greater Binghamton Fund could prove to be true game-changers for the communities included in the "iDistricts." We are incredibly grateful to Governor Cuomo for his continued commitment to the region.”

Senator Fred Akshar said, “The Southern Tier desperately needs economic growth, so it's great to see the Greater Binghamton Fund process moving forward. I hope our community's business owners will be able to take full advantage of the fund to grow, attract talented workers and create more opportunities for our residents."

Assemblywoman Donna Lupardo said, “The Greater Binghamton Fund is the latest example of the success of the Southern Tier’s collaborative and strategic approach to economic development. This investment will help attract new ideas and talent that will create a sustainable local economy. I appreciate the Governor’s commitment to helping transform our urban core.”

County Executive Jason Garnar said, “The Greater Binghamton Fund will provide critical funding in working to revitalize our neighborhoods and growing much-needed jobs. Once again, Governor Cuomo has delivered real results for Broome County and the Southern Tier.”

City of Binghamton Mayor Richard C. David said, “The Greater Binghamton Fund will build on investments in Downtown Binghamton to create a more livable, walkable and vibrant community. Bergmann Associates has experience in Binghamton and across the Southern Tier developing creative strategies for community revitalization. I thank Governor Cuomo and our REDC leadership for advancing this transformative initiative.”

Village of Johnson City Mayor Greg Demmie said, “This multi-million dollar investment will help to secure new business for our community and will shore up our efforts to grow and revitalize neighborhoods throughout the community.  I look forward to getting to work on these initiatives that will most certainly build a better future for Johnson City."

Village of Endicott Mayor John Bertoni said, "Governor Cuomo’s commitment to revitalizing our region should be applauded. This critical investment in our community’s future will help to grow the local economy and provide solid opportunities for the next generation of families who will call Endicott home.”

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 $4.6 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:
Shari Voorhees-Vincent | Shari.Voorhees-Vincent@esd.ny.gov | (585) 399-7055
Press Office | pressoffice@esd.ny.gov | (800) 260-7313