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Press Releases

Contact: Public Affairs Department, (202) 482-4085
Tuesday, November 12, 2013

U.S. Department of Commerce Invests $2 Million to Help Grow the High-Technology Sector in the Southern Tier Region of New York

WASHINGTON — U.S. Secretary of Commerce Penny Pritzker today announced that the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the Southern Tier High Technology Incubator of Binghamton, New York, to help build the Southern Tier Incubator facility. The incubator will offer a mix of wet and dry lab space and shared resources to support companies focused on research and development in energy, microelectronics, and healthcare.

“The Obama administration is committed to supporting innovation and providing entrepreneurs with resources needed to get their products to market, said Secretary Pritzker. “The EDA grant announced today will help create a facility that aims to drive growth and innovation in the vital energy, microelectronics and healthcare sectors in the Southern Tier Region of New York.”

The LEED-certified building will include specialized laboratories and other features associated with industry-based science and technology research, development, and manufacturing. The facility will allow tenants to co-locate resources, including on-site legal, accounting, banking, and other services partners. Tenants will also have the opportunity to establish and maintain close contact with the research, development, and educational initiatives being conducted at Binghamton University and Broome Community College.

About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.