In these challenging times, doing business in Binghamton makes a lot of sense. Our region is an easy three hours northwest of midtown Manhattan, situated strategically between Syracuse and Scranton along the bustling I-81 corridor. Our economy is Upstate New York's sixth largest generating nearly $7 billion in economic activity per year.
Binghamton is a haven for high technology. We rank-along with San Jose, Cambridge and Austin-as one of the strongest areas for innovation in the U.S. We have company clusters in aerospace, software, advanced manufacturing, communications, simulation, distribution and the services.
We are home to household name companies like Lockheed Martin, Gannett, Rockwell Collins, IBM, Frito Lay, L-3 Communications and BAE Systems along with a range of smaller firms who like our combination of work and play.
VMR Electronics, a fast-growing maker of electronic cables and wire harnesses, is moving into the former Ascendia building in downtown Binghamton. The company anticipates hiring 30 people in the coming months. VMR's clients include Lockheed Martin, Raytheon, BAE Systems and Sikorsky.
Impress, one of the world's leading can makers, is moving forward on a $40 million state-of-the-art metal packaging plant in Conklin, just outside Binghamton. The plant will be approximately 100,000 s/f and initially employ 75 people. There are plans for an expansion where employment could eventually be doubled.
Emerson Network Power, a business of Emerson, is opening a 40,000 s/f headquarters in the Charles Street Business Park in Binghamton. This world-class facility will host visitors from around the world and showcase Emerson Network Power's global-leading technologies in power protection. There are several 5-6 acre sites available in the park. Please visit www.bcida.com for more information.
Many regional companies enjoy a strong partnership with Binghamton University, an education powerhouse ranked by Kiplinger's Personal Finance as one of the best values in public colleges anywhere. We were thrilled when Binghamton's Men's Basketball team won the America East Tournament and made its first appearance in the NCAA Basketball tournament this spring.
In Binghamton, we like to brag about our quality of life. It means excellent schools, an opera and a symphony, strong minor league baseball and hockey, Division I athletics, and a fast-growing arts scene. According to U.S. News and World report, Binghamton is the most affordable place to retire in the U.S. The median sale price for an existing single family home in 2008 was $110,000 up 1.4% from 2007 and 15.9% from 2006.
Significant progress is being made on Good Shepherd Village at Endwell, a more than $75 million project funded through the sale of bonds from the Broome County Industrial Development Agency. The project is the first of its kind "fee for service" community with a lower entrance fee, and the monthly fee covers living expenses and access to long-term care services when needed. The annual payroll for the village is anticipated to be $3.3 million. It is estimated the economic impact on Binghamton will be $166 million over the next 30 years.
Binghamton's amazing transportation system makes it possible to get to the Adirondacks, the Poconos, and the tremendous fly-fishing along the Delaware River in a matter of hours. And if you like winery tours and tastings we are a short distance from the Finger Lakes, one of the Wine Spectator's emerging wine regions in the world.
For more on business in Binghamton, visit the BCIDA's website, www.bcida.com including a searchable property database, an interactive profile of the region, and a link to our incentives and programs. As quality of life becomes increasingly important to overall business success, we encourage you to consider Binghamton. Contact me today at 607.584.9000 to find out more.

Patrick Doyle is the Director, Business Development, Broome County IDA, Binghamton, N.Y. Tags: