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From the days of therailroad, Binghamton was a transportation crossroads and a manufacturing center, and has been known at different times for the production of cigars, shoes, and computers.[8]IBMwas founded nearby, and theflight simulatorwas invented in the city, leading to a notable concentration of electronics- and defense-oriented firms. This sustained economic prosperity earned Binghamton the moniker of theValley of Opportunity.[9]However, starting with job cuts made by defense firms towards the end of theCold War, the region lost a large part of its manufacturing industry.[10]
Today, while there is a continued concentration of high-tech firms, Binghamton is emerging as a healthcare- and education-focused city, withBinghamton Universityacting as much of the driving force behind this revitalization.[11]
