July 01, 2011

Gillibrand Announces Over $1.1 Million In Trade Adjustment Assistance For Binghamton University Research Foundation

Grant Will Help Keep Import-Affected NY Businesses Competitive in Global Economy

Washington, DC – U.S. Senator Kirsten Gillibrand today announced more than $1.1 million in Trade Adjustment Assistance (TAA) funds for the New York State Trade Adjustment Assistance Center (NYSTAAC) administered by the Binghamton University Research Foundation to help New York businesses remain competitive in the global economy.

“This is a great investment for our high-tech sector in Binghamton and throughout the state,” Senator Gillibrand said. “These federal dollars will support research and innovation in our high-tech industry, and help keep New York on a fair playing field in the global economy so we can grow and create these good-paying jobs right here.”

“This funding will allow our office to continue our efforts with over 45 New York state manufacturing firms  to ensure they are able to respond effectively to global trade competition,” said Louis G. McKeage, director of the New York State Trade Adjustment Assistance Center, “Additionally, it will allow us to assist new firms throughout New York state.  We appreciate the efforts of our congressional delegation, especially Senator Gillibrand, Senator Schumer, and Congressman Hinchey for their support of this effective and efficient program.”

The grant, worth a total of $1,113,271 from the U.S. Department of Commerce Economic Development Administration, will help NYSTAAC enable companies stressed by foreign competition to successfully adapt to changing conditions in the worldwide market.

NYSTAAC is a non-profit, regional center that provides aid exclusively to New York companies that have been impacted by foreign competition. The service begins with confidential assessment and assistance with application —all at no cost.  NYSTAAC is administered by The Research Foundation of the State University of New York at Binghamton University.

Since 1978, NYSTAAC has helped over 1,200 New York firms, providing them with more than $53 million in assistance to compete more effectively in the global economy.