Schumer Urges Feds to Fund High-Tech Incubator

BINGHAMTON, NY – U.S. Senator Charles Schumer visited the site of the future Southern Tier High-Tech Incubator, along with a top Economic Development Administration (EDA) official to make the case for federal funding from the EDA’s Public Works Program for the project. The incubator, which will be located at Binghamton University, is intended to strengthen the greater Binghamton region’s economy as it works towards more advanced business development.

Senator Schumer emphasized that The Southern Tier High-Tech Incubator would be the first of its kind in the region aimed at delivering affordable and specialized commercial space to help support, cultivate and grow high-tech companies in the Southern Tier. It would provide space for up to 12 companies focusing on research and development in energy, microelectronics, and healthcare. Schumer stated that the IDA’s proposal would have a massive economic impact on the region, by injecting a total of $21 million in public and private investment into the local economy and supporting the University's goal of commercializing local research into clean, high-tech jobs in the city's downtown.

Schumer has long supported the notion that strong research universities can facilitate the economic growth of their communities.

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