Turning a local incubator into a regional hot spot

By Jillian Marshall

August 7, 2013 Updated Aug 8, 2013 at 10:05 AM EDT

Vestal, NY (WBNG Binghamton) A new economic development competition in New York has Southern Tier leaders strategizing to win, all in hopes to better the local economy and community.

The Regional Economic Development Council of the Southern Tier met at Binghamton University Wednesday afternoon.

Members reviewed past, current and future projects funded by state grants.

One involves the Greater Binghamton Incubator already planned for downtown.

The council wants to use it as the basis for competing for an Innovation Hot Spot, making it a regional incubator.

"The Governor and the State Legislature will choose 5 of these to go forward for funding next year, five out of ten proposals so we're excited about that regional incubator plan," said Harvey Stenger, Binghamton University President and co-chairman of the STREDC.

Binghamton University, Corning Glass and Cornell will work together to develop a strategy for the hot spot competition.

Plans must be in by Sept. 24.

Construction on the incubator is set to start next March and is expected to open early fall of 2015.

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