Volunteers spell out a farewell to the Corning Classic after...

Volunteers spell out a farewell to the Corning Classic after 31 years and to Yani Tseng for her victory at the conclusion of the LPGA Corning Classic golf tournament in Corning, N.Y., May 24, 2009. Credit: AP/Kevin Rivoli

CORNING, N.Y. — The Corning Classic is returning to the LPGA Tour schedule in 2027 after an 18-year absence, going from a popular small-market event in western New York to offering a $5 million purse that ranks among the richest outside the majors.

The tournament had a 31-year run through 2009 until it did not renew because the economy was in a downturn and LPGA leadership at the time was demanding more from its sponsors.

Now it will be known simply as “The Classic” when it gets back its familiar spot on the calendar the last week in May. Corning, New York, is about two hours southeast of Buffalo with a population of about 11,000.

“I’ve been blown away by the Corning team’s thoughtfulness and commitment to returning this event to the tour, with players and community at the heart of their plans and ambitions,” LPGA Commissioner Craig Kessler said. “All the legends I’ve spoken to remember this event so fondly, and we can’t wait to create a new generation of memories together in Corning.”

Yani Tseng won the last edition of the tournament in 2009, when the purse was $1.5 million.

Corning’s renewed commitment comes as the company celebrates its 175 anniversary.

The roll call of Corning winners includes nine players now in the World Golf Hall of Fame, from Joanne Carner and Pat Bradley to Juli Inkster and Annika Sorenstam.

“Community support was always at the heart of what made this tournament so enjoyable to play, so I know that the latest generation of players are going to love the event just as much as we all did,” Sorenstam said.

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