Chemung County receives $4 million to develop Holding Point
HORSEHEADS, N.Y. (WETM) — The Chemung County IDA received $4 million from New York State to continue developing the former Holding Point in the Village of Horseheads.
According to the Chemung County IDA, Southern Tier Logistics has been redeveloping the Holding Point since it took ownership of the industrial area in 2021. Southern Tier Logistics has demolished old buildings and started new construction at the site, but it needed additional funds to upgrade the area’s infrastructure. The company plans to use the $4 million to reconstruct existing rail lines, install new water lines, improve the sewer infrastructure, and upgrade the stormwater system.
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“We are grateful for this award from Empire State Development as it will allow Southern Tier Logistics to advance its plan to transition the site into an advanced manufacturing hub,” said IDA Executive Director Joe Roman. “Communities need shovel ready sites to be competitive and this will allow Chemung County an advantage.”
The $4 million came from the Focused Attraction of Shovel-Ready Tracts New York (FAST NY) grant program. This competitive program was designed to prepare and develop sites across New York State so the sites can attract large employers and high-tech manufacturing companies. The goal of FAST NY is to create more jobs and opportunities for New York State’s residents. Southern Tier Logistics and the Chemung County IDA expect the continuing development of the Holding Point to bring more logistics, warehouse, and manufacturing jobs to Chemung County.
Additionally, the Holding Point area recently became the Southern Tier’s first Foreign Trade Zone, which will allow companies to use special customs procedures. The International Trade Administration says that these zones help local economic development and help create employment opportunities.
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