Binghamton-Cornell Collaboration to Receive $1.6 Million Federal Grant to Attract International Companies to South End

Newswise – BINGHAMTON, NY – U.S. Senate Majority Leader Charles E. Schumer announced a $1.6 million federal Economic Development Administration grant to Binghamton University to expand the University of soft landing of the Koffman Southern Tier Incubator to attract international companies interested in expanding into the United States and establishing operations in the southern portion and throughout upstate New York. A key Binghamton partner will be Cornell SC Johnson College of Business at Cornell University.

Schumer said the program is expected to create 365 jobs and generate $2.7 million in private investment.

“Binghamton University is a cornerstone of the South End, and this funding will help attract new employers, create more than 300 well-paying jobs, and kick-start economic development in the region as we continue to recover from the storms. effects of the COVID-19 pandemic,” said Senator Schumer. “I am proud to have fought for and won this $1.6 million federal grant for Binghamton University to attract new business investment to upstate New York. Now, many more will see what I have known for a long time: that the southern part and the greater upstate New York region are on the rise. I will continue to fight tooth and nail to provide the resources needed to grow the south end economy and make upstate New York a place of choice for employers to invest and create new jobs. .

“Koffman Southern Tier Incubator’s Southern Tier Soft Landing Program will build on the momentum of New York’s Southern Tier as a hotspot for clean energy technology development and manufacturing by attracting and helping international companies providing products and services that can help the United States achieve the administration’s climate goals and create jobs,” said Per Stromhaug, associate vice president of innovation and development economics at Binghamton University.

Senator Schumer has long supported job-creating investments for Binghamton University and the Southern Tier. Most recently, Schumer announced that as a result of his direct advocacy, the Commerce Department’s Economic Development Administration had selected the New Energy New York battery manufacturing project led by Binghamton University as the Phase 1 winner. and a finalist for investment in the American Rescue Plan‘s Build Back Better Regional Challenge. Schumer said that as a Phase 1 winner, the project will receive $500,000 in technical assistance funds to develop its proposal to compete for a Phase 2 implementation grant, worth up to ‘at 0 million, to expand research, development, testing and workforce assets to meet demand from the emerging battery manufacturing industry in southern and northern New York State.

“We at Cornell jumped at the chance to collaborate on the Southern Portion Soft Landing Program with our partners at Binghamton University and its Center for the Advancement of International Affairs,” said Andrew Karolyi, Cornell Principal Investigator on the grant and Dean of Cornell SC. Johnson College of Business at Cornell University. “It’s about creating real and engaged learning opportunities for our students in which they roll up their sleeves and work with foreign companies attracted to the region to help them develop their clean energy technologies.”

“CIBA is proud to be part of the exceptional team that will develop the Southern Tier Soft Landing program to attract international companies interested in investing in the United States and establishing operations in the Southern Tier and throughout the upstate. of New York,” said Elena Iankova, founding director of the Center for International Business Advancement at Binghamton University. In addition to Iankova, the CIBA team responsible for this project includes two economic development specialists, Jim Held and Ed Kowalewski, who will bring considerable expertise in international business development, economic research and lead generation. .

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