Tier Nets $91.1 Million in Regional Economic Development Money

12/19/2012 (Updated 6:52:00 PM)

(Source: Jason Weinstein)

"Broome County and the Southern Tier are truly on the verge of an economic revival," said Broome County Executive Debbie Preston.

A year after finishing dead last in the Governor's Regional Economic Development competition, the Southern Tier scored big this time around - a $91.1 million award for 62 projects meant to retain jobs and bring more to the area.

"The team this year did a great job. We really focused on those sectors in the Southern Tier we felt were important, whether they be high technology," said State Senator Tom Libous.

The Southern Tier's proposal - one of ten throughout the state - was named a Best Plan Awardee. $7 million was awarded for the construction of the Southern Tier High Technology Incubator - which will help the $22 million project announced in August get off the ground.

"We have a lot of technology at SUNY. And they'll invent things, develop new things and they leave. Not only do they leave New York, they may leave the country. So by having this incubator this keeps it here," said Preston.

"We have a lot of work to do now. Once you win one of these the
expectations are very high to get the project started as quickly as possible," said BU President Harvey Stenger.

Another $2.1 million will go to a collaboration between BAE
Systems and BU to advance BAE's hybrid-electric propulsion system product lines.

BAE will invest $2.9 million and create 40 new jobs, according to the Governor's Office.

"The hybrid bus systems program they have over there really requires students with this kind of cross-hybrid education so we're going to be developing a curriculum with them. And the students will actually be working at BAE while they're taking this masters degree curriculum," said Stenger.

Other projects awarded sizable grants focus on telemedicine and mobile health care technology, and the development of shovel-ready sites.

****In Binghamton, Jason Weinstein, FOX 40 HD News****

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