Koffman Southern Tier Incubator celebrates grand opening
BINGHAMTON, NY – Binghamton University President Harvey Stenger on Thursday joined with Sen. Fred Akshar, Assemblywoman Donna A. Lupardo, SUNY Broome President Kevin Drumm, faculty and staff, industry partners, community leaders and members of the public to celebrate the grand opening of the Koffman Southern Tier Incubator, located at 120 Hawley Street, Binghamton.
The new $19 million facility is 35,000 square-feet of offices, high-tech labs, wet labs, dry labs and common areas, as well as co-working spaces that will encourage collaboration between companies. It was built to provide a supportive environment for entrepreneurs and startup companies. Every inch of the building has been thoughtfully designed to provide working spaces that inspire individuals and companies to create and develop transformational, innovative products and ideas. It is ideally positioned to support the entrepreneurial ecosystem being developed across the Southern Tier.
“We thank Gov. Andrew Cuomo and all of our state, local and federal officials who shared this vision and worked to make this $19 million building a reality,” Stenger said. “Additionally, the Incubator namesake, the Koffman family of Binghamton, has made a significant donation to support future programming and operations. This will ensure the building can create and maintain a healthy entrepreneurial ecosystem that will become a hotbed for startup activity, ultimately creating more companies in the Southern Tier.”
New York state provided nearly $13 million in support for the project; $7 million was awarded via the Regional Economic Development Council and $6 million was an award from NYSUNY 2020 to SUNY Broome’s Bridge to Entrepreneurial Excellence program.
“A game changer for Broome County and communities throughout the region, the Koffman Southern Tier High Technology Incubator will provide endless research and development opportunities for 21st century businesses, while creating an environment for entrepreneurs to thrive and grow,” said Governor Cuomo. “By continuing to support innovative projects like this technology incubator and fostering job creation, this administration is committing to ensuring the Southern Tier soars for years to come.”
The remaining funds to build the Koffman Incubator came from the Broome County Industrial Development Agency, the Federal Economic Development Agency and the Binghamton University Research Foundation. In kind services were also provided by Broome County and the City of Binghamton.
The seeds for the incubator were planted in 2012, when Binghamton University teamed up with SUNY Broome, Broome County, the city of Binghamton, and state and federal officials to imagine a facility located in the city’s urban core dedicated to providing the infrastructure needed for companies focusing on energy, electronics and health. The incubator will be a magnet for companies targeting these fields. It will also draw commercial enterprises focusing on other advanced manufacturing processes, products and services.
“From day one, I’ve been a supporter of this high-tech incubator because of the tremendous potential it has to create good paying jobs right here in Downtown Binghamton,” said Schumer. “I was pleased to be able to secure funding to help get this project off the ground and even more so to help commemorate today’s occasion: the official opening of the Koffman Southern Tier Incubator. I look forward to hearing of the many successes that will result from the connectivity that it will facilitate between the topnotch research performed at our area’s outstanding academic institutions and new companies and jobs. The Koffman Southern Tier Incubator is a testament to the best that Broome County has to offer, from academia to economic development to manufacturing, and I am honored to have been able to support the vision and been part of the efforts to bring this to fruition.”
The Koffman Southern Tier Incubator in partnership with Binghamton University and SUNY Broome will provide entrepreneurs and startups with the knowledge and resources they need to build a sustainable business. Incubator programs will include a variety of workshops, seminars, mixers and mentoring. They will also have access to the schools’ skilled workforce, facilities, and human resource programs such as internships and co-ops.
“SUNY Broome and Binghamton University are proud partners on many projects, including the Koffman Southern Tier Incubator. Our student incubator will help the region retain its creative, young entrepreneurs, and help foster the great new businesses and industries of the future,” said Drumm.
The facility will include wrap-around financial, legal and regulatory resources and services. To facilitate ease of access, the Small Business Development Center and the Trade Adjustment Assistance Center are housed within the incubator to assist companies as they navigate the difficult road that startups face.
The building design is by Ashley McGraw Architects. The General Contractor is Fahs Construction Group. Many sustainable and passive strategies were employed in the design. The building location and exterior provide for optimal solar orientation. Permeable paving was incorporated to reduce runoff. All storm water is collected onsite and stored in a series of bio-retention ponds. Efficiencies in the mechanical systems are many. One in particular allows the sun to warm the air before being drawn into the structure, allowing the building to be heated in the absence of traditional heat sources. All fixtures are ENERGY STAR compliant and utilize natural lighting and occupancy sensors to the greatest possible extent. The building is also designed to support future rooftop solar panel arrays.
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Senator Fred Akshar said, “Ten years ago, Binghamton University’s Downtown Center sparked a new era of renewal, economic development and opportunity in Binghamton’s urban center. With today’s grand opening, our community builds on that momentum to create new economic opportunities in the heart of downtown Binghamton.”
“The Koffman Southern Tier Incubator will support the development of a culture of entrepreneurship throughout the region,” said Assemblywoman Donna Lupardo. “For years, we’ve been stressing the importance of linking academia, government and business to spur development; this incubator is a successful example of those partnerships. Entrepreneurs now have a place with all the support they need to take ideas and turn them into successful businesses.”
“I am very pleased about the grand opening of the Koffman Incubator in Binghamton today,” said Assemblyman Clifford Crouch. “This is a wonderful opportunity for the Southern Tier and our economy. The Koffman Incubator will be the entrepreneurial hub of the Southern Tier and will provide priceless mentoring and resources to our young, up-and-coming entrepreneurs and small businesses. I look forward to seeing the brilliant work that will be accomplished there and the success, revenue and jobs that it will bring to our region.”
“I am excited to see the Koffman Southern Tier Incubator open in Broome County. Working together, Binghamton University, SUNY Broome and other regional economic partners are helping to create and foster a strong, more innovative economy for Broome County,” said Broome County Executive Jason Garnar.