“Corning has been an excellent example of sound financial stewardship”
From Steuben County, pictured is New York State Comptroller DiNapoli and Steuben County Legislative Chair Kelly Fitzpatrick
[Corning, NY – November 22, 2024] New York State Comptroller Thomas P. DiNapoli visited the City of Corning to deliver a detailed economic and fiscal profile for the city. The presentation was held at the Local 1000 Steel Workers Union building in Corning, where a large crowd of community members, local officials, and regional leaders gathered to hear from the State Comptroller.
During his remarks, Comptroller DiNapoli highlighted Corning’s position as an economic powerhouse in the Southern Tier, largely due to the presence of Corning Incorporated, one of the region’s largest employers. He emphasized the city’s financial health, noting the strong fund balances and impressive fiscal management in recent years.
For 2023, Corning’s available general fund balance as a percentage of gross expenditures was 14.7%, indicating a solid fiscal foundation. Furthermore, the city’s outstanding debt stood at approximately $8.6 million, which represents a significant reduction of 40.5% since 2013.
“Corning has been an excellent example of sound financial stewardship,” said Comptroller DiNapoli. “Since the launch of the State Comptroller’s Fiscal Stress Monitoring System, Corning has never been classified as experiencing fiscal stress, which is a true testament to the city’s effective fiscal management and its strong local economy.”
Steuben County officials, including Kelly Fitzpatrick, Chair of the Steuben County Legislature, were also present for the event. Chair Fitzpatrick commended the city’s strong financial position and expressed optimism for continued growth and prosperity in the region.
