Groundbreaking Ceremony for Two Local Projects

Emerson Network Power Surge Protection and Charles St. Business Park Construction Begins

BINGHAMTON, NY - Community leaders gathered in the First Ward Tuesday morning at the site of the former Anitec facility to break ground on not one but two projects. New York Empire State Development's Upstate Chair Dan Gundersen joined Broome County Executive Barbara J. Fiala and City of Binghamton Mayor Matt Ryan to officially mark the beginning of construction on the new headquarters for Emerson Network Power Surge Protection and the surrounding Charles St. Business Park. Gundersen, Fiala and Ryan were joined by Bill Fierle, President of Emerson's local division. Emerson's new 40-thousand square foot facility will be the anchor of what is expected to be a multi-tenant business park covering nearly 33 acres located in the city. The project was made possible by a $1 million investment by New York State as part of its “City by City” economic development initiative.

“We are confident that this project will create a significant, positive economic impact in the Binghamton community and ultimately become the catalyst for change and revitalization of the area,” Chairman Gundersen said. “ESD is committed to supporting the needs of companies that want to invest and grow in the Southern Tier region. With this particular project, we are retaining jobs and more importantly, assisting a local company in maintaining their operations in Upstate New York.”

The Broome County Industrial Development Agency is combining the state's $1 million with an additional $1 million (approximate) investment to provide the necessary infrastructure and finishing touches to the park.

“We have been challenged with developing this high profile piece of real estate, however, when Emerson expressed interest in the site for its new headquarters and the state came forward with a $1 million investment all the pieces fell into place,” said Richard D'Attilio, Executive Director, Broome County IDA.

“It is an exciting time for Greater Binghamton when you can do two groundbreakings in one day,” said Executive Fiala. “I want to thank Emerson Network Power for having the faith in our community and committing to staying and building its new headquarters here in Binghamton and I want to thank New York State for its investment in our community which we feel will pay great dividends in the future.” “The Charles Street Business Park promises to be a great economic catalyst for the City of Binghamton, and the surrounding region,” said Mayor Ryan. “The site already has a strong anchor tenant in Emerson, and we look forward to more companies coming to the area. Along with our housing and homeownership initiatives, small business programs, and upcoming construction projects downtown, the Charles Street Business Park is helping make Greater Binghamton an even better place to live, work, and raise a family.”

Emerson expects to finalize its new building later this year. Interest in additional development in the Charles St. Business Park is already being expressed.

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Published Date: 05-21-2008