BROOME COUNTY BUSINESS ECONOMIC NEWS
Governor Cuomo offers new life to brownfields
December 5th, 2015 29 VIEWS
Yesterday's announcement by Governor Andrew Cuomo of the designation of 11 Brownfield Opportunity Areas will provide additional revitalization strategies for vacant and blighted sites throughout New York State. A brownfield is a former industrial or commercial site where future use is affected by real or perceived environmental contamination.
This news is especially good news for Broome County as two areas were given BOA designation. The BOA designation includes the Endicott Industrial Spine BOA, which is a 230-acre area with 17 potential brownfield sites encompassing parts of the City of Binghamton and Village of Johnson City, and the Brandywine Corridor BOA in the City of Binghamton, which is a 100-acre area with 18 potential brownfield sites in a critical gateway to the City.
What does the designation mean for these areas? The goal of the BOA program is to return dormant and blighted areas into productive communities of economic growth and development. This designation will provide priority project status for grants and offers additional tax credits for developers through the Brownfield Cleanup Program.
This designation will also align well with the Southern Tier Regional Economic Development Council's Upstate Revitalization Initiative Plan, which proposes the creation of the Greater Binghamton Innovation Ecosystem that focuses on high-density redevelopment of Broome County's urban core.
Revitalizing brownfields will be critical step in creating a thriving Broome County economy. Kudos to Governor Cuomo for moving these designations forward.
posted by Stacey Duncan