Binghampton is in dire need of economic development that can both provide employment and needed neighborhood commercial services.  A Binghampton Development Corporation (BDC) study shows residents have very little access to banking, groceries, pharmacies and other basic household necessities and a third of the households have no wage or salary income.

Strategic progress will require investments in expertise and capital from government and for profit developers due to the substantial scope of need.  However, Binghampton has a significant amount of surplus, government-owned land along Sam Cooper that is attractive for development and accessible to residents.  The BDC partnered with the Broad Avenue model development project from which a zoning plan was developed for Memphis city council approval, and is working with developers to implement key components of this plan once approved.   Developing business on a more personal level, the BDC seeks other targeted opportunities to support income-generating initiative and to help residents work toward self-sufficiency.  In such cases, the organization makes micro-loans to support business and income development.

The north-south Tillman corridor is a critical lynch pin of the area’s redevelopment.  On a prime Tillman corner, the BDC purchased a vacant restaurant property and are working with local proprietors to restore it to its past prominence within the community and a source of income and employment.