Governor Spitzer Unveils "City By City" Economic Development Projects
Focused on Spurring Private Sector Investment in Core Upstate Communities Redeveloping Existing Real Estate is Focus of Three Projects Identified as High Priorities in Southern Tier
Governor Eliot Spitzer today continued to outline his vision for regionally tailored economic development efforts. At a meeting of business and community leaders at the Binghamton state office building, the Governor discussed projects that would receive funding as part of his long-term strategy for economic expansion in the Southern Tier.
The Governor's “City-by-City” plans, which he has also unveiled in Buffalo, Rochester, Syracuse, Utica/Rome and Plattsburgh, are a component of the administration's larger Upstate agenda, which focuses on reducing the costs of business, adapting to an Innovation Economy, and strengthening infrastructure. The “City-by-City” plans identify priority projects in and around Upstate cities that capitalize on each region's unique assets and are selected based on their potential to spur additional private investment and greater economic development.
“We often talk about the Upstate economy as if it was some monolithic region, but quite the opposite is true,” said Governor Spitzer. “A 'one size fits all' approach hasn't worked. The projects we're announcing today in Binghamton were selected to build on the unique strengths of the Southern Tier. By redeveloping Charles Street Business Park, these dilapidated downtown parking ramps, and Bresee's Department Store, we're supporting important improvements that will lure business to Binghamton.”
The Governor announced the following specific commitments:
Charles Street Business Park: The state will invest $1 million towards infrastructure improvements for the development of this 33 acre Binghamton business park - the former location of Anitec - a manufacturer of specialty film, paper and plates for the graphics arts industry until 1998. One of the primary stumbling blocks for development at the business park has been the high cost to make the site truly “shovel ready,” including roads, sewer, water, electric gas and landscaping.
This financial commitment has leveraged a major private sector investment on the property. Emerson Network Power, a world class leader in power surge suppression devices and electrical line filtering equipment. Emerson will build a new 40,000 square foot facility in the business park, becoming an anchor tenant. The $5.9 million project budget includes the purchase of land, new building construction, as well as furnishings, fixtures and equipment. A grant of $325,000 will assist with project expenses. The company's investment in Binghamton will retain approximately 56 manufacturing, engineering, marketing and administrative jobs in the Southern Tier.
Downtown Parking, Binghamton: The City of Binghamton has identified the reconstruction of three parking garage ramps in the city as top priorities for downtown redevelopment. The garages have fallen into extreme disrepair, and have become a public safety risk. The current estimate for the reconstruction of the ramps is approximately $9 million. The state announced today it will commit $670,000 to support the city's investment in these properties, which will support redevelopment projects downtown and efforts to lure additional private sector development in the city center.
Bresee's Building Redevelopment Project, Oneonta: The state will commit $1 million to assist the City of Oneonta in restoring and rehabilitating the former Bresee's Department Store, including rehabilitation of roof, façade and interiors. The property, in the heart of downtown Oneonta, will be reused for a combination of retail, office and residential uses in the downtown area. The landmark store opened in 1899 and served as a retail center in Otsego and Delaware Counties for more than 100 years. In 1994 and 2004, the company downsized operations before closing in February 2006, leaving 75,000 square feet vacant in the downtown area.
“While each of our core communities is different, they do have one thing in common -- they have all been held back by too many competing priorities,” continued Governor Spitzer. “Each region has a deep well of potential that has remained untapped because of key projects that have stalled and been mired in gridlock. Our 'City-by-City' plan will break this gridlock because we have established priorities and will provide the leadership, collaborative approach, funding, and the will to get them done.”
State Assemblywoman Donna Lupardo said: “Providing critical infrastructure support will move us forward in our goal of turning this site from a blighted eyesore to a productive property that is back on the tax roll. We hope that this contributes to a chain reaction of benefits for our community. I welcome the support of Governor Spitzer.”
State Senator Thomas Libous said: “With the new SUNY Downtown Center spurring more foot and car traffic in Downtown Binghamton, better parking will help us make even more progress moving the City forward. And we've been working on rehabilitating the former Anitec site in Binghamton's First Ward for years to encourage growth and create jobs. It's great that the Governor has come to Binghamton today for these positive announcements.”
Broome County Executive Barbara Fiala said: "The Governor's announcement today that the state will invest $1.5 million dollars in the Greater Binghamton region is tremendous news for our community and local economy. The city is receiving some much needed help for its infrastructure and I'm particularly pleased with the $1 million dollar investment in the Charles Street Redevelopment Project, located at the former Anitec site. This collaboration with the state, the city, Broome County our local IDA and Control Concepts, our private sector partner, is going pay great dividends for this area."
Mayor Matt Ryan said: “The grant for the Charles Street Business Park will allow us to retain jobs, as well as make many more, which will benefit our local economy in general and the First Ward Neighborhood in particular. The grant to assist us in repairing our parking ramps is a vital component of our goal to create a vibrant urban core in our city. I thank Governor Spitzer for recognizing that the Southern Tier needs these kinds of catalytic projects to strengthen the upstate economy.”
Willam C. Fierle, President of Emerson Network Power, said: “This investment demonstrates our commitment to the Binghamton area. In addition, it shows our confidence in our employees and allows us to attract additional talent to our Binghamton operations. The Charles Street Business Park promises to be a great central location for our current employees and will provide us the infrastructure we need to support our plans for growth.”
Daniel C. Gundersen, chairman of Upstate Empire State Development, said: “State agencies have a clear directive to focus on the Upstate economy. We are coordinating policies and programs that are focused on producing a better business climate and healthier environment for stimulating private sector growth.”
Today's announcements follow other successes by the administration: lowering workers compensation rates by 20 percent and saving New York's businesses $1.2 billion annually; cutting business and property taxes, and reducing the rate of health care spending.
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Published Date: 11-20-2007
