Broome County continued its economic momentum in 2025, with more than $85 million in new private investment supported by The Agency (Broome County Industrial Development Agency) driving the creation of nearly 500 jobs that support long-term community growth, according to the organization’s 2025 Annual Report released today.
Through a mix of incentives designed to attract investment while delivering critical revenue for local services and supports, Agency support drove not only the expansion of businesses that are creating new opportunities for local residents, but it also is spurring the creation of nearly 150 new housing units at a time when the county, region, and the state as a whole continues to experience a severe housing crunch.
Across four projects that will contribute more than $16 million in payments in lieu of taxes to support local services, agreements secured by the Agency in 2025 call for the creation of 95 new permanent jobs, along with 380 total construction jobs, for a total of nearly $43 million in new payroll in the years ahead — sustainable salaries that will help support families across Broome County. In addition, The Agency’s Small Business Incentive Program is supporting projects that will create 18 new jobs and more than $300,000 in new tax revenues.
“Broome County continues to build real momentum because we’re focused on smart, strategic growth that delivers lasting value for our communities,” said Stacey Duncan, Executive Director of The Agency. “Through collaboration with our government partners and the private sector, we’ve supported local business expansion and invested in site readiness and workforce development. We’re creating an environment where opportunity can take root and grow.”
The report highlights major investments by regional and national employers across priority sectors, including advanced manufacturing, housing, historic redevelopment, and clean and innovative technologies. Together, these projects are strengthening the local workforce, expanding housing options, and generating new resources to support essential public services.
“The Agency’s work last year demonstrated the importance of a strategic focus on long-term investment and intentional planning rather than simply responding to shifting economic conditions,” said Jim Peduto, Chairman of the Agency Board of Directors. “Through targeted technical support and accessible financial tools, we worked to ensure that developers and businesses have what they need to move forward with confidence."
“Broome County’s momentum is real, and this report makes that clear. These investments are creating jobs, expanding housing, and strengthening our local economy, meaning more opportunity for our residents and the future of our communities,” said Jason Garnar, Broome County Executive. I want to thank The Agency for its continued leadership and commitment in building a stronger Broome County.”
Notable Agency-supported projects in 2025 include:
• The Raymond Corporation (Kirkwood) — $28.1 million investment supporting advanced manufacturing and battery assembly operations
• Square Deal Partners – Riverside Gardens (Johnson City) — $15.2 million mixed-use redevelopment creating 67 housing units and community amenities
• The Lane Group – NYPENN Trade Center (Johnson City) — $20.2 million historic preservation and adaptive reuse project creating residential and commercial space
• Gateway Revitalization Apartments (Binghamton) — $16.3 million affordable housing redevelopment serving workforce households
• Neurosciences & Spine Group — $1,850,000 in cutting edge diagnostic and treatment technology through the purchase and installation of a ZapX, a non-invasive advanced robotic radio-surgical machine that precisely delivers radiation to treat a variety of neurological conditions in a non-invasive manner. This installation is the first in New York State and only the 30th in the world.
The Agency also continued to advance long-term planning and site-readiness initiatives focused on infrastructure, workforce development, and community revitalization, positioning Broome County to compete for next-generation employers and emerging industries while strengthening quality of place and economic opportunity. That includes steps toward redevelopment of the Huron Campus in Endicott to support advanced manufacturing and workforce development. It also includes work to prepare a draft generic environmental impact statement (GEIS) for the proposed Broome Technology Park concept in the towns of Maine and Union. This draft GEIS, which ultimately would help businesses that meet certain conditions build and deliver jobs and investment faster, is expected to be released for public comment this spring.
The annual report also details targeted industry outreach and business attraction efforts, including participation by Agency representatives in major national and international semiconductor conferences and trade missions to Germany and Canada, boosting Broome County’s visibility on the global stage as the county works to seize Upstate New York’s “Micron moment” and position itself as a key location for the advanced manufacturing and technology supply chain.
In addition, the report features local innovation success stories from previous Agency-supported projects like the renovation of a custom trailer used by KLAW Industries, a Broome County-based company transforming recycled glass into low-carbon construction materials now used in major local infrastructure projects.
To access the full 2025 Annual Report, visit: https://www.theagency-ny.com/public-reporting