Runtime Error when connecting to ArcGIS Server license in Windows Service

Error Message

When creating an Engine application, the following error may be returned at runtime:

Failed to bind to an ArcGIS Server runtime. Ensure that the specified runtime is installed before running this application.

Cause

This error occurs when the code binds to the ArcGIS Server product, and the target platform in Visual Studio is set to 32-bit.

Solution or Workaround