NY State Invests $1Billion in Riverbend Photonics Project

…agrees to purchase of 88 acres from the city of Buffalo

New York State has agreed on terms to buy the 88 acres of city-owned land in South Buffalo that will house a new high-tech and clean-energy complex at RiverBend.

The deal marks what officials call “swift progress” in advancing a monumental project that seeks to transform a former steelmaking site from a brownfield into a green-power economic driver. It comes just two months after the initial announcement of the RiverBend project, indicating seriousness on the part of the state to move forward quickly.

The first two photonics-based tenants, Soraa, a 6-year-old manufacturer of high-efficiency “green” LED lighting, and Silevo, a 7-year-old company with manufacturing plant in China, a maker silicon solar cells and modules, plan to invest $1.5B in the site according to press releases.

http://www.buffalonews.com/city-region/south-buffalo/progress-is-swift-on-riverbend-land-deal-20140126

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New York Photonics is a not-for-profit organization founded to promote and enhance the New York State optics, photonics and imaging industry by fostering the cooperation of business, academia and government.

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