The City of Corning’s economic development and smart growth initiatives are building on a stable fiscal picture.
State Comptroller Tom DiNapoli provided a fiscal report for the city on Friday. In it, he praised the city’s effective managing of resources and it’s ability to grow its reserve fund while reducing its debt burden.
“By many fiscal measures, the City of Corning has effectively managed its resources and has seen substantial increases in property values over the last several years,” DiNapoli said. “The fiscal picture is stable, with the city actively growing its reserve funds and reducing its debt burden. At the same time, Corning has been working to form partnerships with local stakeholders to enhance economic development, build desirable destinations for visitors, and provide a high quality of life for its residents.”
The city is home to Corning Inc, one of the few Fortune 500 companies in Upstate New York. Other employers include the Corning City School District, Pathways Inc, Istand Brands, Wegmans, and Corning Credit Union.
“This “snapshot” of our city is another significant example of how the Office of the New York State Comptroller is prioritizing support for local municipalities,” said Corning Mayor William Boland. “The unvarnished perspective it delivers will be an invaluable reference tool as we continue to implement our economic development strategy. We appreciate the Comptroller’s positive focus on Corning and his office’s contribution to our future economic progress.”
Additionally, DiNapoli called Corning, home to the Rockwell Museum, a regional hub for arts and culture.
With a 2020 population of only 10,551 residents, the small city has a regional economic impact on tourism and manufacturing
You can read DiNapoli’s full report here.
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