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First High-Tech Business Incubator Opens in Binghamton

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BINGHAMTON, N.Y. -

Entrepreneurs, welcome. Located at the corner of Hawley and Carroll Streets in downtown Binghamton, the first facility built solely to provide resources to local entrepreneurs and small high-tech companies opened its doors.

35,000 square feet of highly specialized laboratories, including a space that allows engineers and researchers to test large-scale projects.

Governor Andrew Cuomo describes the Koffman Southern Tier High Technology Incubator as a "game-changer" for the region.

The $19 million center was paid with federal, state, and county money and is expected to add $6 million to the local economy every year and within nine years -- hundreds of jobs through incubator staff, construction, tenants, new hires and high-tech startups.

The incubator will provide space for 12 companies to conduct research and development in energy, microelectronics, and healthcare.