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Southern Tier Leaders Aim for $500 Million Prize, Upstate Revitalization Initiative

Leaders in the Southern Tier continue to work on a plan they hope will bring a $500 million prize to the area.

Today members of the Regional Economic Development Council met at Binghamton University to hear what the state is looking for in a winning plan.

Seven regions, including the Southern Tier, will compete in the Upstate Revitalization Initiative. Three regions will win and receive $100 million per year over five years.

Those regions will also get $30 million this year from round five of the Regional Economic Development Council competition.

One of the co-chairs of the Southern Tier council says our area has some major strengths, including it's concentration and history of manufacturing jobs, as it aims for the five-year, $500-million prize.

"The projects that we do in year five five years from now we probably haven't even thought of yet. So there will be a process every year where we bring new projects forward and those projects will be evaluated based upon their sustainability, their creation of jobs," said Binghamton University President Harvey Stenger.

Each of ten regions throughout the state must submit their plan by July 31st. Awards will be announced later in the fall.