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Syndicate contentSouthern Tier Soaring

Big Bucks for Triple Cities: Innovation Districts

December 8, 2017 by pegjohnston

EMPIRE STATE DEVELOPMENT ANNOUNCES CALL FOR PROJECT PROPOSALS FOR THE GREATER BINGHAMTON FUND
 
Strategic Economic Investment Plan Will Fund Key Projects in Binghamton, Johnson City and Endicott
 
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
 
Wednesday, 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.
 
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.
 

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