Economic Development Blog: Avogy and Photonica to Make $1.6B
Investment in Rochester, NY and Create 1400 Jobs
Published:
Wednesday, March 16, 2016 - 17:08
At a very well attended event in Rochester, Governor Andrew M. Cuomo, Lt. Gov. Kathy Hochul, SUNY Poly President and CEO Dr. Alain Kaloyeros, Empire State Development CEO Howard Zemsky and other local and regional leaders made a game-changing photonics project announcement for Rochester economic development and the Finger Lakes region – a $1.6 billion investment by Photonica, Inc. and Avogy that will create 1,400 jobs.
Avogy is a power electronics startup currently headquartered in
the heart of Silicon Valley in San Jose, CA. Photonica, Inc. is
a Southern California company located in Beverly Hills, CA
working on nano-pixel technologies and has developed the world’s
fastest (highest frame-rate) display.
Both companies will relocate their headquarters and business operations to SUNY Poly’s recently announced photonics headquarters and technology accelerator at Legacy Tower.
Under Phase I of the public-private partnership between Photonica, Avogy and SUNY Poly, the two companies will locate their advanced development, prototyping, and early manufacturing operations at the Canal Ponds cleanroom facilities in Greece, NY, with a Phase II placement of manufacturing operations at the Eastman Business Park in Rochester, NY.
Combined under Phase I, Avogy and Photonica will invest more than $1.6 billion over five years and create and support more than 1,400 new high-tech jobs.
Governor Cuomo said in a statement that “By bringing this proven nanotechnology-driven economic development model to Rochester, we are attracting big businesses and building a thriving 21st century economy.”
