Eastman Business Park Will Use Funding For Manufacturing And Job Creation Opportunities In Rochester
Albany, NY – April 7, 2015 – (RealEstateRama) — U.S. Senators Charles E. Schumer and Kirsten Gillibrand today announced $611,000 in federal funding for Eastman Business Park. The funding was allocated through the Economic Development Administration (EDA) and will be used to develop the Innovation, Manufacturing, and Material Science Institute (IMMSI) accelerator at Eastman Business Park. The project aims to provide technology entrepreneurs with more efficient and economical pathways to develop their businesses. The $611,000 award will help fund a more than $1.2 million program administered by the Innovation, Manufacturing and Material Science Institute (IMMSI) at EBP that will leverage $50 million worth of tools and infrastructure at EBP and repurpose it to attract and grow new start-up technology companies at EBP.
“This federal funding is great news for job-creating entrepreneurs at the Eastman Business Park accelerator, who will now benefit from the manufacturing hub’s ambitious plan to get more high-tech businesses off the ground to create tens of thousands of jobs over the next decade. I am pleased the EDA has made this wise investment in the kinds of high-tech research, innovation and manufacturing businesses that will create good-paying local jobs and significantly contribute to Rochester’s regional economy over the long-term,” said Senator Schumer.
“Investments like this one help boost the local economy, attract new businesses and create more jobs in Rochester,” said Senator Gillibrand. “Helping local businesses like Eastman Business Park connect to opportunities like this one is essential to the longevity of Upstate New York’s economic growth.
EDA grants are awarded through a competitive process based upon the application’s merit, eligibility, and the availability of funds, and focuses on investing in projects that foster job creation and attract private investment supporting development in communities across the country.