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Binghamton University’s Koffman Southern Tier Incubator’s soft landing program is expected to create more than 300 new jobs and generate millions in investment to spur economic development in the region
Schumer: EDA investment will help create more well-paying jobs in Binghamton and jump-start economic recovery in southern part of pandemic
U.S. Senate Majority Leader Charles E. Schumer today announced a $1.6 million federal Economic Development Administration grant to Binghamton University to expand the landing program in softness of the Koffman Southern Tier Incubator to attract international companies interested in locating in the United States and establishing operations in the Southern Tier. and throughout upstate New York. Schumer said the program is expected to create 365 jobs and generate $2.7 million in private investment.
“Binghamton University is a cornerstone of the South End, and this funding will help attract new employers, create more than 300 well-paying jobs, and kick-start economic development in the region as we continue to recover from the storms. effects of the COVID-19 pandemic,” said Senator Schumer. “I am proud to have fought for and won 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 have known for a long time: that the southern part and the greater upstate New York region are on the rise. I will continue to fight tooth and nail to provide the resources needed to grow the Southern Tier economy and make Upstate New York a place of choice for employers to invest and create new jobs.
Per Stromhaug, associate vice president of innovation and economic development at Binghamton University noted, “Koffman Southern Tier Incubator’s Southern Tier Soft Landings program will build on the momentum of New York’s Southern Tier as a hotspot for clean energy technology development and manufacturing by attracting and supporting international companies providing products and services that can help the United States meet the administration’s climate goals and create jobs.
Senator Schumer has long supported job-creating investments for Binghamton University and the Southern Tier. More recently, Schumer announced that following his direct plea The Department of Commerce’s Economic Development Administration (EDA) has selected the New Energy New York battery manufacturing project led by Binghamton University as the Phase 1 winner and finalist for investment under the plan to american rescue Regional Build Back Better Challenge. Schumer said that as a Phase 1 winner, 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 ‘at $100 million, to expand research, development, testing and workforce assets to meet demand from the emerging battery manufacturing industry in southern and northern New York State.
The original letter of support from Senator Schumer to U.S. Commerce Department Secretary Gina Raimondo appears below:
Dear Secretary Raimondo:
I am pleased to write in support of the application submitted by Binghamton University to the United States Economic Development Administration.
With funding, Binghamton University will establish a program to attract foreign companies to the region to strengthen manufacturing and supply chain ecosystems. The program will engage in workforce development efforts to train college students, recent graduates, and others for jobs in high-tech startups and other businesses based in the South Side. Binghamton University will pursue an approach to combine one-on-one training with on-site support of candidate companies and match companies with students from Binghamton and Cornell universities, providing students with real-world training, while helping candidate companies to solve the challenges associated with establishing operations in The training offered by the company will leverage university, community, industry and government resources and assets that will generate results to achieve our common goals of deepening the pool of companies manufacturers and local talent, while matching talent to the workforce needs of companies. , thereby stimulating economic activity and creating jobs.
I commend Binghamton University for its foresight and sincerely hope that the nomination meets with your approval.
Thanks for your consideration.
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