During a Southern Tier Regional Economic Development Council meeting, President Harvey Stenger, right, makes a point to his REDC co-chair, Tom Trantor, president of Corning Enterprises.
Photo by Jonathan Cohen
Binghamton University President and REDC Co-Chair Harvey Stenger hails $81.9 Top Performer AwardTweet
Gov. Andrew Cuomo announced the third annual Regional Economic Development Council Awards from the Hart Theatre in the Empire State Plaza in Albany on Dec. 11. The Southern Tier Regional Economic Development Council (REDC), which earned a “Best Program” designation in 2012, repeated as a top performer this year and has been awarded $81.9 million to pursue the more than 100 priority projects identified in its funding proposal.
“We are thrilled to once again be designated a “top performer” by New York State,” said President Harvey Stenger, who is also co-chair of the Southern Tier REDC. “We aimed high and are gratified that all of our hard work paid off.
“Our plan emulates what Gov. Cuomo set out to do through this REDC process,” Stenger added. “It is regionally focused, innovative and will create even more jobs than we already have generated through the REDC program to date. My co-chair, Tom Tranter (president of Corning Enterprises), and I thank the entire council and everyone who was involved in helping our plan become a reality. We also want to thank Gov. Cuomo and the State Assessment Team for recognizing our region’s efforts to improve New York State’s economy and create jobs.”
Statewide, a total of 824 projects will be funded with $715.9 million announced by the governor. Among the priority projects for the Southern Tier, Binghamton University received $750,000 for its education-focused project: Exponentially Increasing Science Technology Engineering STEM Research for Economic Development. The program is an innovative, research-based program with the goal of providing every Binghamton University undergraduate STEM student with authentic research experiences throughout their four years at Binghamton. New laboratories will be designed, constructed and outfitted to provide infrastructure to fully integrate undergraduate students in leading-edge research across the disciplines.
Each project proposed by the Southern Tier REDC meets one or more of its seven strategies:
1. New York’s leader in energy efficiency and renewable energy technology
2. Transportation industry…building next generation technology and advanced manufacturing
3. Health Care 2020…integrating health care providers, higher education and cutting-edge technology
4. Revitalize the rural farm and forest-based economy
5. Economic development backbone
6. Technology development and transfer
7. Opportunity agenda
Binghamton University’s STEM student research experience program impacts four of seven strategies: energy, healthcare, technology development and transfer, and workforce development.
A total of 64 projects from last year’s $91.2 million round-two funding, including the highly visible Southern Tier High-Tech Incubator, have been executed, helping the Southern Tier retain 1,450 jobs, create 1,495 jobs and leverage $308 million. The initial $7 million in round-two funding for the incubator is helping to leverage millions in additional funding from the federal government and other sources to bring it to fruition. It is being built in partnership with private industry and Broome County on Hawley Street in Binghamton. Demolition is under way and a ground breaking will be held in March 2014, with an expected opening in 2015. The incubator will provide strategic resources for up to 10 new businesses at a time, including cutting-edge laboratories, business development services, core user facilities, interns and cooperative educational opportunities, as well as access to technology transfer and commercialization expertise at Binghamton University.
The entire list of projects for the Southern Tier as well as the other regions can be viewed online.