March 31, 2017
Rochester, N.Y. (March 30, 2017) — The photonics industry is poised to grow into a $766 billion industry by 2020 according to a report from Transparency Market Research, and Eastman Business Park is taking steps to ensure that some of that growth can be found on its campus.
The Park will welcome the first new member of its budding photonics community this year when Precision Optical Transceivers relocates to the modern manufacturing campus. The move is a significant step as EBP positions itself to be the focal point of the photonics industry in New York state.
“The assets we have to offer at EBP will go a long way in helping Precision be even more successful as it becomes one of the earliest members of the new photonics test, assembly and packaging community we’re building here,” said Dolores Kruchten, president of Eastman Business Park and vice president of Eastman Kodak Company. “This is exactly the kind of company we want to partner with, and we’re looking forward to a long and productive relationship.”
Photonics technology has a wide range of applications, from creating the fastest internet networks to helping detect diseases earlier. Precision — which works with the health care, education and enterprise industries, government entities and service providers — chose EBP to expand its operation largely due to the proximity of the new AIM Photonics facility located on the campus at ON Semiconductor. The company employs 20 people, is looking to add another 10 positions once it opens at EBP, and plans to add another 20 jobs over the next two years.
“Our company has been growing rapidly so expansion was inevitable. We wanted to relocate to a place where we not only can continue to grow, but to a place that will actually help us grow,” Precision CEO Todd Davis said. “The recent announcement that the AIM Photonics Test, Assembly and Packaging Center would be located in Eastman Business Park means we will be very close to the epicenter of Photonics research and manufacturing growth. And the manufacturing support infrastructure of the Park means we will have access to all the support we need to grow rapidly.”
With its optics-rich history, Rochester has invested heavily in the photonics industry in recent years, aiming to create a community of the best and brightest in the field. The New York State Photonics Board announced in March that its headquarters will also be at Eastman Business Park.
“Our region is pleased to see a leading company like Precision Optical Transceivers join one of New York state’s high-tech clusters,” said Robert Duffy, AIM Photonics Leadership Council chairman and Greater Rochester Chamber of Commerce president and CEO. “It is exciting to see that the AIM Photonics initiative and its TAP facility, along with the area’s highly skilled workforce, are already creating powerful reasons for innovative companies to locate and prosper here.”
Precision Optical Transceivers is planning to open the doors at its new location in EBP in mid-May or early June 2017. Gov. Andrew Cuomo helped announced the news of Precision Optical’s move to Eastman Business Park, highlighting the benefits the company enjoyed from the StartUp NY program.
“Precision’s Rochester expansion only adds to the region’s momentum as a destination for high tech business and innovation," Cuomo said. "This great news is one more reason why the Finger Lakes is moving forward.”
Supporting the continued growth of Eastman Business Park remains a top priority of the Finger Lakes Regional Economic Development Council and the Finger Lakes Forward strategic economic plan.
Precision has invested heavily into silicon and integrated photonics over the past two years and expects significant growth in both its technical and manufacturing capabilities by 2020. Precision intends to continue its heavy involvement in silicon and integrated photonics throughout the next decade, following the success of its current optical transceiver business.
About Eastman Business Park
Eastman Business Park is a 1,200-acre R&D and manufacturing campus with over 16 million square feet of multi-scale manufacturing, distribution, lab and office space. There are currently over 70 companies onsite employing over 6,600 people, many of them responsible for the development of our nation’s next generation technologies in the areas of Energy Storage, Chemical Manufacturing, Roll-to-Roll Manufacturing and Photonics. Additionally, the Park’s immense manufacturing infrastructure—including the private utilities and onsite water and wastewater management system—is a competitive advantage for its high-use tenants, especially in the Food and Agriculture industry. For more information, go to www.eastmanbusinesspark.com.
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