FOR IMMEDIATE RELEASE: April 28, 2005
Schumer: Over $20,000 Coming To Southern Tier Economic Growth, Inc.
Funds will be Used for the Creation of a Business Development Strategy for Southern Tier
Seven County Region Includes Chemung, Schuyler, Steuben, Tompkins, and Tioga Counties in New York, and Bradford and Tioga Counties in Pennsylvania
US Senator Charles E. Schumer today announced that $20,189 in federal funds was awarded to Southern Tier Economic Growth, Inc. for research that will lead to the creation of a business development strategy for the seven-county region centered on Chemung County. The funds are being awarded through the Appalachian Regional Commission (ARC).
"This is great news for the Southern Tier," Schumer said. "It is important for the area to have a plan to ensure a flourishing economy. Both local businesses and residents will benefit from this project, and I am excited that we are making this kind of investment. I will continue to fight for federal funds to help the region as it becomes a thriving center of activity and hub for economic growth"
The ARC grant will help identify the region’s technology cluster of firms while determining the potential for inter-firm collaboration, its over all size and scope, its comparative advantage as measured by its concentration compared to state and national averages, and its potential for growth. Goals of the resulting business development strategy include enhancement of technological development on a region-wide basis and the generation of new economic activity. In addition to the $20,189 award from ARC, the total project cost of $40,378 includes $20,189 in matching funds from Southern Tier Economic Growth, Inc.
The ARC is a federal-state partnership that works with the people of Appalachia to create opportunities for self-sustaining economic development and improved quality of life. The ARC awards grants from funds appropriated to the Commission annually by Congress.