Tioga County business is growing!

Recently, I attended a conference where the keynote speaker encouraged us to always speak positively about our communities with others, and not to dwell in past perceptions. His message, while seemingly simple, offered invaluable advice.  

Ultimately, it is the people of Tioga County who brand and market our community. The words we speak tell people what it is like to live, work and do business here. With this in mind, I wanted to take this opportunity to build awareness and share my thoughts with you on the economic development activity that has been happening in our community within this past year. 

Often times, people ask how one actually measures the impact of economic development. Typically, the impact of economic development is measured over time, using statistics such as the unemployment rate, job creation, sales tax revenue, hotel and motel sales tax revenue, and residential home sales. 

In the last year, Tioga County’s unemployment rate dropped from 5.4 percent to 4.9 percent. The lowest this rate has been in nearly a decade. Sales tax revenue remained steadfast, hotel and motel sales tax revenue increased, and residential home sales increased from 350 to 435 from 2015 to 2016. Additionally, due to the completion of several new development projects there were 775 direct jobs and 1,200 direct construction jobs created within the County.

While these statistics and figures are important factors when it comes to measuring our community’s progress, what they fail to give us is a glimpse into the exciting new businesses, projects and revitalization that have been taking place around the County.

For example, in 2016 Tioga County welcomed many new startup businesses such as The Owego Kitchen (Owego), Technology Research Council (Nichols) and Farview Farms (Newark Valley). Ground was broken on several new development projects, including Crown Cork & Seal (Nichols) – $133 million dollar project, Nichols Cross Dock (Nichols) –  $12.9 million dollar project, Owego Gardens (Owego) – $12.3 million dollar housing project, Tioga Downs Casino Expansion (Nichols) – $135 million dollar project and Upstate Shredding Expansion (Owego) – $5.4 million dollar project. 

Through the Tioga County Industrial Development Agency (TCIDA) Loan Program there has been $185,000 lent in the Owego, Apalachin and Waverly communities, leveraging $782,250 in private investment in Tioga County. In addition, to date there has been over $230,500 in requests approved through the TCIDA Commercial Façade Improvement Loan Program for exterior improvements made in the historic downtowns of Owego, Waverly, Nichols and Newark Valley.

As a result of a $300,000 New York Main Street (NYMS) Program award, eight properties on Broad Street in the Village of Waverly engaged in revitalization projects, spurring over $140,000 in additional private investment in the Village’s core. A streetscape enhancement project was also included in this award. It was announced in late December that Owego’s Parkview Restaurant and Hotel would receive $500,000 in matching grant funds through the NYMS Downtown Anchor program to renovate the historic property. These are just a few of the exciting projects that have been taking place right in our own backyards. 

There has been so much incredible progress in our community this past year, the effects of which are truly starting to be felt. Looking to the future, I know we can anticipate the announcement of many more exciting and innovative projects that mean great things for Tioga County. So, when we talk to others about what it is like to live, work and do business in Tioga County, let’s tell them the truth. Tioga County is “Smart” and “Strong”, and it is an incredibly exciting time to be a part of everything that is taking place in our community.