BINGHAMTON, NY – The BU Foundation is receiving funding from the federal government to encourage foreign businesses to set up shop in Greater Binghamton.

The Economic Development Administration is awarding one point six million dollars to support the Southern Tier Soft Landing Program located at the Koffman Southern Tier Incubator.

A collaboration with Cornell University, the soft landing program markets our area to international firms and provides assistance with meeting bureaucratic and legal requirements and workforce development.

Associate Vice President for Innovation and Economic Development Per Stromhaug says there are many opportunities within the Southern Tier Clean Energy Incubator and the battery manufacturing ecosystem.

“We have a lot of good resources in the Southern Tier. Of course, we all know that we need to market that better. So, that’s part of it, getting the awareness out there that this is a place that’s open for business. On the other hand, it can be scary to establish a business in a new country. So, the point is to help them and make that easy as possible to do so,” he said.

Stromhaug says about ten companies have participated in the soft landings program since it began a little more than a year ago, including Hub Controls and Ubiquity Solar.

The money will be matched by $400,000 in local funds and are predicted to create 365 jobs and generate two point seven million dollars in private investment.

Stromhaug credits the assistance of US Senator Chuck Schumer, NYSERDA and NYSTAR and the Center for International Business Advancement.