BINGHAMTON (WBNG) — City of Binghamton leaders gathered Wednesday morning to announce the beginning of the 13th annual Binghamton Business Plan Competition at the Koffman Southern Tier Incubator. In past years, the competition helped grow and fund businesses around the Southern Tier. The competition is the longest-running of its kind in the Greater Binghamton area. However, for 2023, there will be a new twist to it. Now, M&T Bank is a premiere sponsor. Regional M&T President Peter Newman said his company has a responsibility to inspire those from Binghamton and the surrounding areas to participate. “This program ties directly to our core mission of fostering success in the communities that we serve,” President Newman said. “It’s incumbent upon all of us as leaders in this community to remove obstacles and open doors.” The winner of the program will receive a grand prize of $5,000. Yet, Owner of Strategic Test Prep Laura Whitmore, who won the competition last year, said the community resources that were provided help grow her business. “The cash prize was phenomenal but it was all the services from the local community that elevated my business to the next level,” said Whitmore. “Everybody was so supportive and […]