BINGHAMTON, NY (WIVT/WBGH) – The Broome County Industrial Development Agency Board of Directors voted and approved the purchase of nearly 300 acres in the Towns of Union & Maine at its October board meeting.

This purchase, as The Agency said, was made with the intent of turning the land into a brand-new development park that they believe could result in nearly $1 billion in annual economic activity via sales, compensation, tax revenue and indirect business growth.

“The last time a multi-acreage development park was built in Broome County was in 1984, and as local businesses continue to grow and external site selectors search for communities to relocate their companies to, it is long past time that our community expands our available number of shovel ready sites,” per the release.

During the pandemic, The Agency began analyzing land, buildings and fields all over the county and determined Broome County’s need for large-scale development sites to create more jobs.

“We take this role very seriously,” said Leadership Alliance CEO, Stacey Duncan, “It is not only an imperative for the IDA to build new sites – it is our responsibility. Our mission is to serve as a partner, catalyst, and investor in new investment and development sites to create jobs and to enhance the tax base for the residents of Broome County.”

Following the purchase of the property, The Agency is now permitted to complete New York State’s environmental review process. As the development of the new park continues, The Agency says it will provide updates and opportunities to the public to provide their input.