FOLLOWING HIS ADVOCACY, SCHUMER ANNOUNCES BINGHAMTON UNIVERSITY WILL RECEIVE $1.6 MILLION THROUGH THE EDA TO ATTRACT INTERNATIONAL BUSINESSES TO INVEST AND ESTABLISH OPERATIONS IN THE SOUTHERN TIER
Binghamton University’s Koffman Southern Tier Incubator’s Soft Landings Program Is Expected To Create Over 300 New Jobs And Generate Millions In Investment To Spur Economic Development In The Region
Schumer: EDA Investment Will Help Bring More Good-Paying Jobs to Binghamton And Jumpstart The Southern Tier’s Economic Recovery From The Pandemic
U.S. Senate Majority Leader Charles E. Schumer today announced a $1.6 million federal grant from the Economic Development Administration to Binghamton University to develop the Koffman Southern Tier Incubator’s Soft Landings Program to attract international companies interested in locating to the U.S. and establishing operations in the Southern Tier and throughout Upstate New York. Schumer said the program is estimated to create 365 jobs and generate $2.7 million in private investment.
“Binghamton University is a cornerstone of the Southern Tier, and this funding will help to attract new employers, create over 300 good-paying jobs, and jumpstart the region’s economic development as we continue to recover from the impacts of the COVID-19 pandemic,” said Senator Schumer. “I am proud to have fought for and secured this $1.6 million federal grant for Binghamton University to attract new business investment to Upstate New York. Now, many more will see what I’ve long-known: that the Southern Tier and broader Upstate New York region are on the rise. I will continue to fight tooth and nail to deliver the resources needed to grow the Southern Tier economy and further make Upstate New York a top location for employers to invest and create new jobs.”
Per Stromhaug, Associate Vice President of Innovation and Economic Development at Binghamton University said, “The Southern Tier Soft Landings Program at the Koffman Southern Tier Incubator will build on the momentum of the Southern Tier of New York as a hotspot for the development and manufacturing of clean energy technologies by attracting and assisting international companies providing products and services that can help the US meet the administration’s climate goals as well as create jobs.”
Senator Schumer has a long history of supporting job-creating investment for Binghamton University and the Southern Tier. Most recently, Schumer announced that following his direct advocacy the Department of Commerce’s Economic Development Administration (EDA) selected the Binghamton University-led New Energy New York battery manufacturing project as a Phase 1 awardee and finalist for investment through the American Rescue Plan’s Build Back Better Regional Challenge. Schumer said that as a Phase 1 awardee, the project will receive $500,000 in technical assistance funds to develop its proposal to compete for a Phase 2 implementation grant, worth up to $100 million, to expand research, development, testing, and workforce assets to meet the demand of the emerging battery manufacturing industry in the Southern Tier and Upstate NY.
Senator Schumer’s original letter of support to U.S. Department of Commerce Secretary Gina Raimondo appears below:
Dear Secretary Raimondo:
I am pleased to write in support of the application submitted by Binghamton University to the US Economic Development Administration.
With funding, Binghamton University will establish a program to attract foreign companies to the region to bolster the manufacturing and supply chain ecosystems. The program will engage in workforce development efforts to train students, recent graduates, and others for jobs in high-tech startups and other companies locating to the Southern Tier. Binghamton University will pursue an approach to combine individualized training with on-site support of candidate companies and match the companies with students at Binghamton and Cornell Universities, providing the students with real-life training, while helping candidate companies solve challenges associated with establishing operations in the U.S. The company training delivered will leverage university, community, industry, and government resources and assets that will generate outcomes to meet our shared objectives of deepening the pool of manufacturing companies and local talent, while matching the talent with the workforce needs of the companies, thus spurring economic activity and creating jobs.
I applaud Binghamton University for their foresight, and sincerely hope the application meets with your approval.
Thank you for your consideration.