Binghamton, NY Real Estate — Homes For Sale in Binghamton, NY

The Binghamton area has long served as an incubator for industry and progress. From its beginnings as a transportation crossroads and manufacturing hotspot, the area earned the nickname "the Valley of Opportunity" due to its prominent role over the years in the production of cigars, shoes and computers. Namely, the presence of IBM and the defense-related industries in the area propelled growth and established the Binghamton area as home to a high-tech workforce and economy. While the end of the Cold War resulted in a slowing of growth in the defense industry, the 21st century has dawned a new era of opportunity and progress. Downtown Revival: The Village of Owego was chosen last year by the Southern Tier Regional Economic Development Council to receive $10 million from New York State as part of its Downtown Revitalization Initiative (DRI), an investment program intended to renew prosperity in neglected downtown centers. Business development projects will include restoring the Tioga Theater, the development of an art district, restoring the firehouse and developing a farmer's market and a new brewery. This year, the Village of Endicott is looking to do the same. They haved reached the finals for the Southern Tier and if awarded the funds, will propose new housing marketed toward young professionals, an expansion of the North Brewery, an additional Union-Endicott School District incubator site, an indoor produce farm, an ice rink and arena, a sports complex and alternative energy sources, as well as streetscape and branding advancements. Culture and Culinary Scene: Binghamton's culture scene is expanding exponentially in conjunction with more student housing in the downtown area coupled with investment funds allocated for revitalizing the area. One such project is the renovation of the historic Carnegie Library on Court Street into SUNY Broome's new Culinary and Event Center. The partners who own popular downtown spots The Colonial and Dos Rios Cantina plan to open a new restaurant, bar and music venue at the former Parlor City Pub, which boasts a large patio. Galaxy Brewing will relocate to a new home in the First Ward while an entertainment venue will take over its former space on Court Street. These new developments follow a wave of culinary innovation adding diversity to the city, with other recent openings including Nomikui Ramen, which opened its doors in December of 2018, Craft Bar and Kitchen, which serves up trendy sliders and creative milkshakes, speakeasy-styled lounge 205 Dry and The Shop, an upscale bar and restaurant known for its crepes. Binghamton University: Binghamton University is a major employer and economic driver for the area, and it is quickly establishing itself as a "public ivy" with its competitive educational programs. New York State is taking notice of the innovation happening in Binghamton, and the university was awarded with a NYSUNY 2020 grant to develop its state-of-the-art renewable energy research and development facility. Higher education accounts for more than 20,000 jobs in the area, and Binghamton University alone accounts for $1 billion of annual economic impact. Job Growth: Overall, it seems that the Binghamton area is due for its best years ahead. During the six-year period ending in 2016, the area's private job sector count increased 2.2 percent, and that figure is only growing. Advancement in the manufacturing, transportation and warehousing industries is continuing to create more jobs in Broome County, and the area's revitalization is expected to continue as more professionals are drawn to the region. One shining example of the area's commitment to attracting a pool of talented professionals is the creation of the Koffman Southern Tier Incubator, which was created from a partnership between Binghamton University and SUNY Broome. less