As any Binghamton University undergraduate knows, relations between students and local town-dwellers have fluctuated over time. It is surprising then to realize that BU is one of the main reasons why the city of Binghamton and much of the Southern Tier of New York has maintained and improved its economic standing, even during this recession.

“I think the value is there,” said Adam Amit, Student Association president-elect. “But probably not everyone is aware of the impact [BU] has.”

According to a report that was put out on April 30, BU is worth $750 million in regional economic activity each year. The University supplies 8 percent of all jobs in the region, as well as 11 percent of the gross domestic product of Broome and Tioga counties.

The same report states that for every dollar invested by the state, six dollars are returned to the region, based on data from the 2007-08 fiscal year.

Binghamton’s economic standing is a reason for population and business growth in recent years.

“Living in Binghamton is affordable,” said Andrew Block, director of community relations for the city of Binghamton. “The affordability applies to everything from housing to transportation needs to vital goods, and therefore we understand that Binghamton is an attractive place for people to live, work, study and raise a family — particularly during these difficult economic times.”

Binghamton was at its peak population of approximately 80,000 around 20 years ago, when IBM’s headquarters was located in the city. IBM has since downsized and moved out, which resulted in a temporary decline of the local population and economy. Since then, however, Binghamton has been steadily improving in both aspects.

“At present we have about 45,000 people,” Block said. “If you’re looking at our economic anchors, they include the health care industry, education, manufacturing and public agencies. Those are all employment sectors that require a workforce that has a higher level of education, and for that reason, locally, we have a very capable work force.”

BU and other local higher-education institutions, such as Broome Community College, are key players in the education sector of Binghamton. The community has made an effort to encourage BU graduates to stay within the community to help revitalize it.

Ron Sall, a BU graduate from the class of 1973, is now owner of Sall-Stearns clothing store in Downtown Binghamton.

“I always liked Binghamton, always liked living here,” Sall said. “In some areas [Binghamton’s economy] has gotten better, in some it’s gotten worse, but it’s a small town and there are a lot of great people working hard to make a living, so we go from there.”

Sall-Stearns does its best to stay involved in the community and help out any way it can. According to Sall, he has noticed a resurgence of businesses in the Downtown Binghamton area, giving a much-needed boost to Binghamton’s economy.

In spite of recent budget cuts, the report shows that BU remains important to the economic value of Greater Binghamton and the Southern Tier. Not only do students spend hundreds of dollars in Downtown Binghamton on entertainment, clothing and transportation each semester, but visiting relatives of students spend approximately $3 million on hotels and $9.4 million on food and transportation.