Among the winners in New York’s Regional Economic Development awards last month were colleges and universities.
Binghamton University, Cornell University and Broome Community College combined to win nearly $700,000 through the economic development grants. The money will be spent on research labs, manufacturing and start-up business incubators.
Amanda Knarr works for the American Institute for Economic Research. She said this kind of investment creates jobs. Not just jobs for academics, but for blue-collar workers, as well. “If you’re growing a college or you’re creating some buildings it’s going to take people from all different walks of life.” Knarr explained.
If these businesses have success they can lead to long-term population growth, too. In other words, people will come for jobs.
“For example, someone who didn’t necessarily go to school in Ithaca would come because of the research and development or some of the stem careers that are provided, primarily, through the colleges,” Knarr said.
Full disclosure: WSKG received funding through the Regional Economic Development Council Awards.