Message to the Community from Executive Director, Stacey Duncan, and Board Chairman, John Bernardo [Excerpt from 2022 Annual Report to the Community]
The year 2022 for Broome County was the year of small business, transformation, and growth. As the leading economic development agency in the area, it is always exciting to bear witness to our community coming together to build something new and to lend a helping hand wherever possible.
For the last several years, like many other communities, Broome County has faced a mixture of economic projections due to the impacts of the COVID-19 pandemic. Despite this, we saw record high investment in 2021, and in 2022 we have watched businesses bounce back stronger than before thanks to technical and financial support from The Agency and our partners.
Small business was truly at the center of the focus for The Agency in 2022, as staff ushered in $8.5 million in new investment via the Small Business Assistance Program and provided another $305,000 using the last of our COVID-10 Emergency Loan Funds. This new investment resulted in sixty-eight retained and thirty-four new jobs in our area. In 2022, in partnership with Broome County, The Agency also began distributing funds from the Broome County COVID Relief Grant Fund. Small businesses impacted by the pandemic were encouraged to apply for funding up to $50,000. The Agency received applications from nearly thirty small businesses, and have provided seven grants totaling almost $400,000, and we are excited to continue providing support through this program in the year ahead.
Economic development is more than just investment dollars, it is about nurturing a community for comprehensive success. This begins with a strategic team that is dedicated to helping each business that knock on our door grow. Our partnership with the Greater Binghamton Chamber of Commerce, the Leadership Alliance, has afforded us the unique opportunity to hone in on the issues that matter most to both our residents and business partners alike. Through leveraging our collective resources and addressing key priorities from multiple angles, The Agency as part of the Leadership Alliance is proud to continue paving the way to make Broome County an ideal place for all to call home.
Download and read the full report here.