Archive: Business & Technology

The Regional Economic Development Council initiative (REDC) is a key component of Governor Cuomo's transformative approach to State investment and economic development. The Councils are public-private partnerships composed of local experts and stakeholders from business, academia, local government, and non-governmental organizations that are redefining the way New York invests in jobs and economic growth by putting in place a community-based, bottom up approach and establishing a competitive process for State resources.

The Southern Tier, a Top Performer Awardee of  $81.9 million, was considered one of the best plans in the state last year. The Southern Tier REDC is building on its success with its endorsed priority projects, including expanding health care programs, growing job training resources and supporting projects to boost tourism in the region. The Southern Tier includes: Broome, Chenango, Delaware, Tioga, Schyler, Steuben and Tompkins County.

TCAD President Michael Stamm is a member of the Southern Tier Economic Development Council and its Executive Committee. He was present at the awards ceremony in Albany for the announcement.

Projects that were awarded in Tompkins County include:

• Cornell University awarded Southern Tier Innovation Hotspot ($250,000) - A public/private parternship between Cornell University, SUNY Binghamton and Corning Inc. to enhance regional business services and startup opportunities.
• Cornell University Incubator ($1,000,000) - This project is a mixed-use expansion of an existing building in downtown Ithaca, which will establish the Cornell University incubator. This facility will provide a central location for entrepreneurial support and mentoring.
• Tompkins Cortland Community College Farm to Bistro Project ($2,300,800) - The project facilitates the creation of a working farm on TC3 property in Dryden and a culinary center in downtown Ithaca.
• Finger Lakes ReUse ($100,000) - Job and entrepreneurial training.

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