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FOR IMMEDIATE RELEASE: July 20, 2004

SCHUMER LOBBIES CEO OF BOSCOV'S DEPT STORE TO KEEP STORE IN BINGHAMTON

Boscov's is America’s largest family owned department store and has provided local economy a boost and local shoppers many options for more than two decades;

But lease has run out and CEO has not committed to stay in Broome County

Schumer offers federal assistance to CEO and highlights area's major potential for economic revitalization in effort to keep store from closing

US Senator Charles E. Schumer today revealed that he has launched an aggressive lobbying campaign to keep Boscov's department store in Binghamton. Schumer today sent a letter to the company's CEO Al Boscov and urged him to keep the store from closing. The city owns the property and leased it to Boscov's for a 20 year term which has now expired.

"I told Mr. Boscov that keeping his store in Binghamton would be a win-win situation: good for the region and good for him, too," Schumer said. "You've got thousands of people who live and work in the Southern Tier, and droves of cars passing through each day. I told him that the Greater Binghamton area is the focal point of exciting discussions about expanding BU downtown and could be on the verge of major redevelopment. I also said that I'd look into whatever federal assistance might be available to help keep the store in the area and I'll keep lobbying him until a decision is made."

Schumer, who has been to Broome County three times this year, offered Boscov his support in trying to obtain federal assistance to keep the store in the area. Schumer highlighted the potential for future development and activity in the area, and noted that the university, a major player in the Greater Binghamton community, has expressed a strong interest to expand its presence in the downtown area with the state developing a $25 million proposal to locate a Binghamton University academic center downtown. Schumer also noted that if the region gets the presidential helicopter contract for Lockheed Martin's US 101, there is potential for hundreds of new jobs in the area. .In addition, Schumer reminded him that the city estimates that approximately 15,000 people traffic the downtown on an average weekday.

"Over the last twenty-plus years, Boscov’s has made a tremendous contribution to keeping downtown Binghamton a lively hub of activity, and I hope that it will continue to do so well into the new millennium," Schumer wrote today in a letter to Boscov. "Boscov’s continues to play an important role in the city’s economy - providing a strong workforce essential to maintaining Binghamton’s stability, and spurring its economic revival. As you continue your final negotiations with the City of Binghamton, I again would like to offer my continued support and assistance to you in discovering new and innovative ways to help Boscov’s in Binghamton thrive and grow."

Schumer previously spoke with Boscov by phone in May, during which time Boscov told Schumer he had not made any final decisions regarding the fate of the store.

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