On Tuesday, June 7, The Agency hosted our 7th Annual Economic Development Breakfast. The last time we all came together for this event was back in 2019, which seemed like a lifetime ago, and it was a pleasure to have the opportunity to look around this room and once again welcome our partners in economic development from business leaders to local officials and everyone in between. This year's breakfast was held at the SUNY Broome Culinary & Event Center in the historic Carnegie Library in Downtown Binghamton.
The morning featured a presentation by Executive Director, Stacey Duncan, who recapped some of the key projects and investments made by The Agency in the last two years. In 2020 and 2021, through The Agency’s Payment in Lieu of Tax (PILOT) program, tax-exempt bond financing, small business incentive program and COVID-19 loans, The Agency has championed over $700 million in total new investment under a new executive director, a global pandemic, and a new partnership with the Greater Binghamton Chamber of Commerce. Duncan also spoke of upcoming community development initiatives that are critical to our economic health, including the soft launch of an Economic Prosperity Blueprint, a comprehensive and collaborative effort to address barriers to employment and other aspects of workforce and economic development. Key points from the presentation include:
- Our bonds generated $314 million in new investments.
- Our PILOT programs brought in over $400 million in new investments.
- Our Small Business Incentive Program brought in over $14 million in new investment and resulted in 172 retained jobs and the creation of 70 new positions.
- The Agency met with 148 businesses and provided over $1 million in COVID-19 Emergency Loans.
- The Agency partnered with Broome County to secure $1 million in COVID Recovery Grants to small businesses.
For more information, visit the Resources tab to download a copy of our 2020 and 2021 Annual Reports.