Koffman Southern Tier Incubator

The Binghamton Local Development Corporation (BLDC)/Broome Triad Entrepreneurial Assistance Center run by SUNY Broome recently received a statewide Award for Outstanding Performance from Empire State Development for its efforts in fostering local businesses.

Join representatives from SUNY Broome, the Binghamton Local Development Corporation, supporting agencies and elected officials at 10 a.m. July 12, 2019, in the Koffman Southern Tier Incubator for a press conference.

The event will be held in SUNY Broome’s third-floor Co-Work space in the incubator, located on Hawley Street in downtown Binghamton. Products and displays from EAC clients will be featured.

“This award is so well-deserved! For nearly 15 years, our Entrepreneurship Assistance Center has helped local residents achieve their dream of starting a business,” SUNY Broome President Kevin E. Drumm said. “The businesses that began with EAC continue to grow, not only increasing revenue year after year, but adding employees. The Center not only transforms individual lives, but it truly helps facilitate the region’s economic growth.”

“Their success is a community effort, involving not only our dedicated EAC staff, but local businesses, mentors and volunteers. We commend everyone involved for their dedication and commitment that helped make this award possible – and for making the Southern Tier truly  the Valley of Opportunity,” said Executive Vice President and Chief Academic Officer Francis Battisti.

About EAC

Empire State Development operates 24 Entrepreneurship Assistance Centers statewide.

Starting in 2005, SUNY Broome’s EAC provides resource and assistance to entrepreneurial ventures in all stages, from startups to existing businesses that wish to expand. EAC also offers a 12-week, 60-hour course that gives participants the skills and knowledge they need to successfully launch a business.  

In 2018, the EAC run by SUNY Broome enrolled 33 new business clients while serving 30 prior clients, aiding in the start of five new businesses. Four new clients were veterans, and one veteran-owned business also started.

Over the past year, 22 existing businesses involved in the program reported increased sales totaling more than $4.97 million. Eleven of them were able to expand employment, adding a total of 36 new employees, while 13 businesses retained approximately 89 employees.

Four startup businesses reported $2.3 million in aggregate increased sales. Two of those firms also added 3.5 new employees, while 26 retained the current number of employees.

One of SUNY Broome’s EAC clients, Waterman Distillery LLC, was recently selected as the Entrepreneurship Assistance Centers’ 2019 Entrepreneur of the Year. Joseph and Michelle Alig own the Apalachin business, which produces all-natural spirits from Finger Lakes corn; Joseph Alig is a graduate of SUNY Broome’s 12-week entrepreneurial course.

“Working with our local entrepreneurs is a rewarding experience for me, my staff and our advisors. We watch our clients grow in confidence, and become better suited to run their businesses,” said Janet Hertzog, SUNY Broome’s Director of Continuing Education and Workforce Development. “Not everyone is cut out to be an entrepreneur and this program helps people figure that out.  For those that are, we offer many services and direct them to other resources to help them succeed. We look forward to seeing what this year’s group of budding entrepreneurs are striving to launch.”

Info Night on Aug. 8

Have an idea for a business? This year’s EAC program runs from 6 to 9 p.m. Mondays and Thursdays from Sept. 9 through Dec. 2 at the Koffman Southern Tier Incubator, located on Hawley Street in Binghamton. Join SUNY Broome for an information night from 6 to 8 p.m. Aug. 8 in the incubator’s third-floor classroom. Call (607) 777-4022 or email kanukda@sunybroome.edu for more details.