A $19 million facility designed to boost new technology businesses should open in downtown Binghamton in two years.

A groundbreaking ceremony for the Southern Tier High Technology Incubator was held this morning.

Bob Joseph/WNBF News

The 35,000 square foot complex is to be constructed on a site near the intersection of Hawley and Carroll Streets.

Bob Joseph/WNBF News [file][/caption]A non-profit entity called Southern Tier High Technology Incubator, Inc. is to build and manage the facility. The organization was created to expand Binghamton University's research and development capabilities.

The complex is expected to provide the infrastructure to support up to a dozen companies specializing in energy, microelectronics and healthcare.

Businesses that locate in the facility may benefit from a state program that would allow them to operate tax-free for a decade.