Wall Street Journal Examines Hardships

The financial challenges facing Endicott and Broome County families have received attention in a front page article in The Wall Street Journal.

The newspaper’s report examined some of the hardships people are facing as prices continue to rise but their income doesn’t keep pace with inflation.

The primary focus of the story was the growing number of U.S. children who are living in poverty or in below-middle class households. The challenges may get worse because of reduced federal assistance.

The article noted that although the Binghamton area now has a high rate of children living in poverty, it “wasn’t always this way.”

The story informed readers unfamiliar with Endicott that “IBM was born here.” The company’s presence “provided generations with manufacturing jobs and financial stability.” But things started changing in the 1990s as the company reduced its workforce and later sold the Endicott site.

The article was accompanied by a photo showing what remained after several old IBM buildings were demolished in recent months.

Komla Dzigbede, a Binghamton University associate professor, told the Journal “IBM’s closing threw the local economy into a depression.” said Komla Dzigbede. He said “in many ways, it has never fully recovered.”

Dzigbede noted there are some indications an economic resurgence may be underway locally as household income has increased in recent years.

Despite the Endicott dateline on page one of The Wall Street Journal, village Mayor Nick Burlingame wasn’t interested in discussing the paper’s article.

Responding to a WNBF News inquiry, Endicott’s public relations firm indicated he didn’t want to talk about it.

While Endicott is mentioned, the story is broader, exploring economic stress in Broome County, New York State, and nationally.

The mayor will politely decline comment.

Contact WNBF News reporter Bob Joseph: bob@wnbf.com or call (607) 545-2250. For breaking news and updates on developing stories, follow @BinghamtonNow on Twitter.