Thursday, March 22, 2007

Nice When Your Projects Pan Out

Well, one of the many projects I've been working on for the past year or so for Infotonics finally panned out. While I'm getting absolutely no credit, I'll at least be kindof boastful on my own weblog.

This will ultimately result in the creation of a new business incubator in the Rochester region. We're already lining up companies to fill the space, and I'm hoping if we have a dozen companies located here, we can help them grow some significant news jobs. Now if some of the other things I've been working on also pan out, Infotonics itself will have a whole lot more sound financial future.

Here's the story that ran in today's D&C:

$3M grant to expand Infotonics Center

Matched by state, it's expected to result in as many as 200 jobs.

Daniel Wallace
Staff writer


(March 22, 2007) — A number of high-paying jobs could be on the way to the Rochester area, thanks to a $3 million federal grant awarded Wednesday to the Infotonics Center in Canandaigua.

The grant, which was provided by the Economic Development Administration in the U.S. Department of Commerce, will help the Canandaigua high-tech center expand its operations by 10 percent.

President and Chief Executive Officer David R. Smith said the expansion could generate as much as $130 million in private investments in the greater Rochester region.

"This expansion is important to our mission of creating high-tech jobs in western New York ... and is a significant investment for us," said the CEO.

According to Smith, the money will be matched by New York state, giving the technology company $6 million to enlarge its 120,000 square-foot facility.

"This grant is a huge boost to the Infotonics Center and Canandaigua," said Rep. Randy Kuhl, R-Hammondsport, who helped secure the grant.

Kuhl said the research efforts in microsystems, photonics, optics and information technology "are things that we only dreamed about a few years ago, and now that research is spinning off into job and revenue-creating businesses right here in our area."

According to a news release from Kuhl's office, the $3 million investment would help renovate the incubator space for startup photonics, information systems and optics businesses. It would also help in the construction of the Infotonics Commercialization Center and in the process could create about 200 jobs for region.

Infotonics helps smaller companies and entrepreneurs explore emerging technologies and new applications.

The Infotonics Center specializes in semiconductor microsystems, which are used to support televisions, inkjet printers and airbag censors.

In addition to the new funding, the Infotonics Center was the recipient of $1 million in defense research funding in the 2007 Defense Appropriations bill and $2 million in the 2006 Defense Appropriations bill.

"This investment will help Canandaigua generate a commercial environment that will attract entrepreneurs, business and capital," U.S. Commerce Secretary Carlos M. Gutierrez said in a statement supporting the project.

DJWALLAC@DemocratandChronicle.com