Senator Schumer Pitches for Federal Funding for High Tech Incubator

1/17/2013 (Updated 6:55:16 PM)

BINGHAMTON -- Senator Schumer pitched the need for federal funding for the Southern Tier's first-ever high-tech business and technology incubator today, at the site of the future building in downtown Binghamton. The incubator's purpose is to help bring technologies developed at Binghamton University to market.

"This new incubator will create hundreds of good paying jobs, scores of new companies, some of who--Lord knows-- could take off and be the next IBM," said Schumer.

Schumer brought in a top economic development association official to try to get 4 million dollars in federal funding from EDA's public works.  The $21 million dollar project has already received $7 million from the state-- and more is expected.

"Once they [the companies] grow and get 10 to 12 to 15 employees, instead of the 3 or 4 where they start, they go rent new space right nearby and then a new one comes in. It's a constant turnover.  It's like a reader-reactor of new jobs all the time," said Schumer.


Schumer was joined by Broome County Executive Debbie Preston and Binghamton University President Harvey Stenger.


"It allows us to grow by 2000 students, 150 faculty, and to focus our research on smart energy and healthcare," said Harvey Stenger.

"Our region, once known for cutting edge technology, will have the opportunity to regain our standing as a home to innovation," said Debbie Preston.


Officials say they would like to break ground in spring.  The EDA will make its decision by the end of March.

Samantha McDonald, Fox 40 HD News