The Southern Tier picks up millions of dollars at the Regional Economic Development Awards in Albany. The area was named a Top Performer yet again and as our Elyse Mickalonis explains that funding is going to help a lot of projects, including one that will help local entrepreneurs.
ALBANY, N.Y. -- A big day for the Southern Tier Wednesday, as the area won big at the Regional Economic Development Awards in Albany.
"It doesn't happen in a couple of hours. You come up with an idea and plan and write everything down. There's a lot of work that goes into this. The Southern Tier is coming back, I promise you that,” said Debbie Preston, Broome County Executive.
The Southern Tier once again takes home the title of a Top Performer. Last year the Southern Tier had the Best Plan and this year they are receiving $81.9 million dollars from the State.
"It makes us all work together, the 8 different counties who used to consider themselves competitors or barely just neighbors geographically are now partners,” said Harvey Stenger, Binghamton University President.
While the region's plan focuses on rebuilding areas hit hard by flooding in recent years, health care and more. The money will also help create a high tech incubator in downtown Binghamton, as well as fund the Southern Tier Innovation Hot Spot, a business start-up incubator network, made up of Cornell University, Binghamton University and the Ceramics Corridor Innovation Center at Painted Post.
"It’s going to help support people who are looking to start a business, looking to grow them through them through the incubator and tie in to Start-Up NY tax free zones, so they can graduate from there, grow the business and stay in the area,” said Alan Rae, Ceramics Corridor Innovation Centers Executive Director.
Stenger added, "Our plan this year really was to focus on a triangle which in Cornell, Corning and Binghamton as a triangle. Trying to create this Innovative Hot Spot. That allows us then to build all of our project around with an entrepreneurial spirit. I believe that central theme helped us in be a top performer this year."
All-in-all, the three incubators received $250,000 they were hoping for about $375,000.