Binghamton University President Harvey Stenger said it was a great day for the Southern Tier as he celebrated the region winning $500 million through Governor Andrew Cuomo’s Upstate Revitalization Initiative (URI).

At a press conference held in the in the TAU Bearcat Room of the Events Center, Stenger, local politicians, BU officials and media gathered to discuss the next steps following the Southern Tier’s inclusion in three regions of New York State to receive $500 million each over the span of five years. The Finger Lakes region and Central New York were also granted $500 million.

Stenger, the co-chair of the Southern Tier Regional Economic Development Council (STREDC), explained that the winning plan focused on promoting the innovative culture of the Southern Tier, transforming the food and agriculture culture, building the greater Binghamton ecosystem and investing in advanced manufacturing industry.

By the end of the five years, over 10,200 jobs are expected the be created and $3.4 billion is expected to be generated back into the Southern Tier economy.

“A lot of people have asked if this is the fair way to distribute public money, and I think that’s a fair question,” Stenger said. “I completely agree with Governor Cuomo that this is the right way to do it. By taking this $500 million and investing it strategically, and making a promise that we will leverage that $500 million with $2.5 billion of private funds, and on top of that, pledging to grow and add 10,200 jobs is something you could not have done by just giving a tax rebate across the state.”

President Stenger thanked all those who were involved in producing the plan that was able to beat four other regions.

“The friendliness, the teamwork, the esprit de corps that everyone brought to this — I know that some people think we’re a little competitive against each other in the Souther Tier, but we really pulled together as one team this time no matter our differences politically, geographically,” he said. “We really pulled together because we knew it was us against six other regions.”

Around 76 projects were presented as part of the proposed plan such as the Southern Tier Health Sciences and Technology Innovation Park, which will combine the BU nursing and pharmacy schools in Johnson City, and a $3.45 million plan for the 7 Hawley St. redevelopment in Downtown Binghamton. Other projects include a revitalization of agriculture in the region.

“We are going to be a leader in bringing new foods to market for the New York City region, across the state and across the country,” said New York state assemblywoman Donna Lupardo.

Lupardo sat on the review panel that oversaw the regional proposals, and said that the Southern Tier’s plan won solely on its merits.

“There was no handicapping, they won it,” she said. “They won it on their merits. It was practical, solid, it was well thought out. And it was ready to go.”

President Stenger said that some projects still need to be developed and approved, but construction on multiple projects should begin by next summer.

Broome County Executive Debra Preston said that this victory came at an opportune time, as one year ago the Southern Tier was denied the ability to introduce fracking and casinos into the region, and now has been awarded $500 million to revitalize the economy.

“There was no way we were gonna lose this one,” Preston said. “And we didn’t.”