New High-Tech Job Creation Incubator Proposal Unveiled for Downtown Binghamton

(Binghamton, NY) Broome County Executive Debbie Preston, Senator Tom Libous, Assemblywoman Donna Lupardo and Binghamton University President Harvey Stenger today announced the concept and initial designs for a new proposed $20 million High-Technology Job Creation Incubator.

The announcement was held at the Incubator’s proposed site in Downtown Binghamton near the corner of Hawley and Carroll Streets. The site provides close proximity to the UniversityDowntownCenter, government offices, shops, restaurants and business services.

 

The Job Creation Incubator will be a partnership between BinghamtonUniversity, BroomeCounty, the Broome County Industrial Development Agency (BCIDA), Broome Community College (BCC) and other private and public stakeholders.

 

Preston, Libous, Lupardo and Stenger were joined by Broome County Legislative Chairman Jerry Marinich, Broome Community College President Kevin Drumm, Binghamton Mayor Matt Ryan, Greater Binghamton Chamber of Commerce President Lou Santoni, BCIDA Business Developer Patrick Doyle, and Delta Engineering President Anthony Paniccia.

 

The new Job Creation Incubator will combine BinghamtonUniversity’s emerging technologies with helpful resources for entrepreneurs. As new technologies move from research and development into commercialized products, the new facility will provide developing companies with the resources they need to grow, including state-of-the-art laboratories, business development services, connections to industry, affordable rent, and access to business and academic mentors.

 

“Creating jobs and promoting economic development has been my #1 priority since taking office in January,” said County Executive Preston. “Our exciting new Job Creation Incubator will help us capitalize on the amazing technology that BinghamtonUniversity’s faculty and students are creating. This will create new high-tech companies and new good-paying jobs.”

 

“The Incubator is a next logical step for both the Southern Tier’s economic development efforts and for BinghamtonUniversity to meet its research and development objectives,” said President Stenger. “The University currently houses pre-incubation space for companies developing faculty-related research, but there are no high-tech incubators in the region to support further development. These firms frequently find that they must leave the area in order to grow. Thus, the Incubator will help retain — and attract — new industry to the region.”

 

"It's one thing to talk about local job creation, but this Incubator project makes new careers in technology a reality," said Senator Libous. "Putting these high-tech jobs right in Downtown Binghamton creates another opportunity for BinghamtonUniversity and our community to move forward together."

 

"This project is an essential component of our region's burgeoning innovation economy as it will help take products from development to market. It will also foster an entrepreneurial spirit that is essential to economic recovery. I am excited to support this project and hope to see it come to fruition," said Assemblywoman Donna Lupardo, Chair of the Legislative Commission on Science and Technology.

 

Incubator tenants will focus on smart energy, healthcare and electronic systems integration and packaging. In line with BinghamtonUniversity’s investments in smart energy research, the Incubator would include specialized laboratories for companies launched from University-licensed technologies: a battery and supercapacitor enablement lab, a solar cell fabrication lab, and a medical related demonstration facility.

 

The Job Creation Incubator is currently in the concept and development stage as the key players work to secure funding from various Federal, State and local sources.

 

$13 million over three years was requested in July through the New YorkState’s Regional Economic Development Council Consolidated Funding Application process. Preston, Libous and Stenger, who are all voting members of the Southern Tier Regional Council, shared that the Council just yesterday scored the Job Creation Incubator as a top priority for this region, with a score of 20 out of 20. A decision on this funding is expected from Albany later this year.

 

The BCIDA has committed $2 million for property acquisition, site preparation and construction. The BCIDA, along with the Southern Tier Economic Partnership (STEP) funded the preliminary engineering work that produced the renderings that were unveiled at today’s announcement.

 

To help pull together the likely site footprint for the Job Creation Incubator, BroomeCounty has transferred eight properties from County ownership to the BCIDA. The Broome County Legislature passed County Executive Preston’s resolutions to execute the transfers in July and August.

 

County Legislative Chairman Jerry Marinich said, “BroomeCounty is proud to partner with BinghamtonUniversity to develop a new High-Tech Incubator in Downtown Binghamton. The Legislature recognizes the importance of working with many partners, both public and private. Creating jobs is our top priority and the Legislature is pleased to have taken action to help this proposal move forward. Thank you to Senator Libous, Assemblywoman Lupardo, County Executive Preston and President Stenger for their vision and hard work on this important project."

 

Binghamton Mayor Matt Ryan said, “This is another important step in integrating the university and the community, creating jobs and strengthening our local economy. We’re making significant progress, and momentum is on our side. We’ve been proud to partner with the many stakeholders involved in these efforts, and we look forward to building on our gains in the coming months and years.”

 

Preston added that she and Stenger have also been working closely with Senator Chuck Schumer on a significant Federal Grant that may further fund the project.

 

The building itself would be new construction. The initial preliminary design, prepared by Delta Engineers, Architects and Land Surveyors of Endwell, was unveiled at the News Conference showing a sleek, modern and environmentally friendly design.

 

Anthony Paniccia from Delta Engineers said, “The building and site will be designed to achieve LEED Platinum Certification. This entails utilizing sustainable construction principles and designs that are cognizant of the site, water usage, energy usage, materials and resources, and indoor air quality to name a few.”

The incubator will be operated by the Southern Tier High Technology Incubator, Inc., a not-for-profit research and technology membership corporation formed through the University with management services provided by the BCIDA.

 

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08/16/2012 - 8:50am