Senator Schumer

U.S. Senator Charles E. Schumer today announced that a grant of $851,798 was awarded to the Research Foundation of SUNY Binghamton from the U.S. Department of Commerce.  Federal funds will be used to support the continued operations of the  New York State Trade Adjustment Assistance Center at the Research Foundation of State University of New York.

“This is great news for SUNY Binghamton,” said Schumer.  “The NYS Trade Adjustment Assistance Center has provided thousands of New Yorkers and New York firms with help as they support workers who have been laid off due to foreign competition.  With this funding, this center will continue to offer its vital services to companies throughout the state.”

The New York State Trade Adjustment Assistance Center (NYS TAAC) is a non-profit regional center that provides assistance under the Trade Adjustment Assistance for Firms Program sponsored by the U.S. Department of Commerce.  The NYS TAAC is administered by The Research Foundation of the State University of New York at Binghamton University. Since 1978, the NYS TAAC has helped over 1200 New York firms and provided them with more than $53,000,000 in assistance.  The NYS TAAC offers assistance in strategic areas of importance including management, marketing, finance, information technology and manufacturing/engineering.  This assistance is provided by both NYS TAAC professional staff and by independent industry specialists and consultants. The cost for assistance is shared with the U.S. Department of Commerce, which can underwrite up to 75% of the cost.

The Economic Development Administration (EDA) was established under the Public Works and Economic Development Act of 1965 to generate jobs, help retain existing jobs, and stimulate industrial and commercial growth in economically distressed areas of the United States. EDA assistance is available to rural and urban areas of the Nation experiencing high unemployment, low income, or other severe economic distress.  In fulfilling its mission, EDA is guided by the basic principle that distressed communities must be empowered to develop and implement their own economic development and revitalization strategies. Based on these locally- and regionally-developed priorities, EDA works in partnership with state and local governments, regional economic development districts, public and private nonprofit organizations, and Indian tribes. EDA helps distressed communities address problems associated with long-term economic distress, as well as sudden and severe economic dislocations including recovering from the economic impacts of natural disasters, the closure of military installations and other Federal facilities, changing trade patterns, and the depletion of natural resources.