Get to know Binghampton, NY
The city of Binghampton lies on the southern border of the state and is known as the Carousel Capital of the World. It was incorporated in 1867 and was a popular destination for immigrants because of job opportunities. The advent of the railroad made the city a transportation hub. Starting in the 1880’s, after a boom in cigar manufacturing, the city became reliant on large manufacturers. This included shoe manufacturer Endicott-Johnson, whose development of welfare capitalism brought prosperity for working class residents. This prosperity enjoyed in the late 19th and early 20th centuries led to the surrounding area to be called the Valley of Opportunity. In the 20th century, defense and technology became the backbone of the economy. The founding in the area of IBM and the invention of the flight simulator helped transform the region into a high-tech economy, which remained strong through the Cold War era. With the end of the the Second World War came suburban development and a decline in traditional manufacturing, leading to a decrease in population. The end of the Cold War in 1991 saw the defense industry falter, causing a recession in Binghampton. The city is trying to revitalize in the 21st century, looking to services and healthcare to bring up the economoyy. The suburb of Vestal is home to Binghampton University, a selective “Public Ivy” school. Many students find housing in the city in the West Side neighborhood of Binghampton, which has helped to revitalize the city’s business district. The area is known for the regional dish called the spiedie, a sandwich made of marinated meat cubes that are grilled over charcoal. The cuisine is celebrated at the annual Spiedie Fest and Balloon Rally in August.
Population (2015): 46,495
Median Household Income (2015): $29,824
Median Property Value (2015): $85,300