Like many other former industrial powerhouses, my home region, the Southern Tier of New York (midway across the southern border of the state with Pennsylvania), has struggled with economic development.
In recent years, while there has been some growth in the education, health care, and arts sectors here in the Binghamton area, the formerly strong manufacturing and hi-tech sectors are a shadow of their former selves.
Since 2011, New York has had an economic development system organized as various regional economic development councils, which make plans which compete for funding. The eight counties of the Southern Tier have won some funding in prior years, but this year the stakes were especially high, with three regional prizes worth $500 million ($100 million a year for five years) each available. The other five regions will share a larger-than-usual pot of funds, so no one is left out.
The Southern Tier economic development plans have always been well-received, including in 2011 when the timeline for initial plans was very tight and coincided with a record flood. Some of our projects have been funded, but progress has been slow, leading to additional hand-wringing and pressure to allow shale gas development, even though only a few jobs would be generated at considerable environmental cost.
While I am grateful that shale gas development was (mostly) taken off the table in New York State last December, our area needed more concrete plans to add jobs in our region.
In the form of one of the $500 million awards announced yesterday, we finally have commitment from the state to help make that possible.
The Greater Binghamton area where I live is central to the plan, with major revitalization centered around the Route 17c corridor. The Binghamton segment is mixed-use, blending business, retail, arts, increased living space, downtown University presence, and waterfront development. Johnson City is centered on health science/technology and culture, with Endicott, the original home of IBM, centered on advanced manufacturing, including an industrial 3D printing center. We are excited to begin!
There are projects already lined up for the first year allocation of $100 million, with plans to leverage additional private capital. Of course, the rest of the region is not left out. There are plenty of other projects being funded, too, including food/agriculture initiatives for our many rural communities.
I have been one of the rare cheerleaders for our region, which tends toward pessimism about everything, including our typical-for-the-Northeast weather. I often used some of the earlier projects of our Regional Economic Development Council as alternatives to fracking in my years of commentary on that topic, for which I was frequently ridiculed.
I am ecstatic that my optimism is being rewarded.
(Excelsior is the state motto of New York and is usually translated as “Ever Upward.”)
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