Southern Tier Regional Economic Development Council Announces $5 Million Available to Community Revitalization & Job-Creating Initiatives for Region in 2013

The Southern Tier Regional Council is pleased to announce that applications for its three economic development initiatives are now being accepted. Interested parties can review program guidelines to determine eligibility and submit completed static or fill-able applications that are attached below the program description.

Rural Initiative Program - $1,000,000 in additional funds

This program will continue offering a regional low-interest loan fund to reduce financial risk and increase sustainability of agriculture and forestry ventures and to encourage investment and job creation. The program will provide gap financing for priority activities, including development and promotion of value-added agricultural products, development of new markets, renewable energy initiatives, increased land productivity, applications of new technologies, and growth in net agricultural revenue. Eligible applicants include new and existing businesses within the Region.

• Rural Initiative Fund Application
• Rural Initiative Fund Fillable Application
• Rural Initiative Fund 2013 Guidelines

Community Revitalization Program - $2,500,000 in additional funds

The Community Revitalization Program will continue to facilitate the redevelopment of downtown and community center locations to encourage investment and job creation. The program will assist community neighborhood commercial center revitalization projects to improve downtowns with mixed-use residential/commercial and retail opportunities. Communities utilizing these funds will have the ability to identify their own priorities and structure projects to support unique local needs in targeted areas. Eligible applicants will include cities, towns and villages within the Region. The available resources will provide gap financing for capital use and will leverage additional financing from federal, state, municipal, and local development agencies, and corporations and private sector entities.

• Community Revitalization Guidelines
• Community Revitalization 2013 Application
• Community Revitalization Fillable Application

Shovel Ready Program - $1,500,000 in additional funds

This regional low-interest loan program will continue to provide gap financing to facilitate site development, including environmental remediation, demolition, site preparation activities, and installation of infrastructure. Communities throughout the Southern Tier utilizing these funds will be more competitive in future site selection activity, resulting in investment and new job creation. The application process will be open-ended and will be accepted until all funds are committed to projects. Eligible applicants include municipalities, municipal authorities, economic development organizations, industrial development agencies, chambers of commerce and local development corporations.

• Infrastructure Fund for Shovel Ready Guidelines
• Infrastructure Fund for Shovel Ready Application
• Infrastructure Fund for Shovel Ready Fillable Application

Regional Council Vision Statement

Building on a strong foundation of existing businesses and higher education institutions the Southern Tier region uses a collaborative approach to leverage its globally competitive advantages to attract talent and investment for the development of industry clusters. Our focus will be on increasing the size and prosperity of the region's workforce through new business creation based on high-technology discoveries and other entrepreneurship activities, while ensuring healthy communities and protecting the natural beauty and resources of the region.

About the Region

The Southern Tier lies along the Pennsylvania border, with the cities of Elmira, Hornell, Ithaca, Corning and Binghamton. Binghamton is the birthplace of IBM, Endicott-Johnson, Dick's Sporting Goods and Link Simulators, and home to the fifth oldest zoo in the country.

The industry clusters of the Southern Tier include defense, distribution, insurance, agriculture and manufacturing. Corning, a Fortune-500 company, is headquartered in Steuben County; several high-tech firms have a strong presence in the region, including Lockheed Martin, IBM, BAE Systems, and Rockwell Collins.

Among the dozens of prominent universities and colleges throughout the region are the top-ranked Cornell University and SUNY Binghamton. Both are major economic drivers in the region; SUNY Binghamton also has one of New York State's six Centers of Excellence.

Southern Tier In Depth

Get more expansive regional data on New York's Southern Tier Region below: