Systems engineer manufacturer repurposed 43,000 square-foot facility will create almost 60 new jobs in the Town of Henrietta. Investment complements “Finger Lakes Forward” – the region’s comprehensive strategy to revitalize communities and grow the economy.
Empire State Development (ESD) today announced that systems engineer manufacturer Precision Optical Transceivers (Precision OT) is growing its Monroe County operations, repurposing 43,000 square-feet of existing space at 2245 Brighton-Henrietta Townline Road in the Town of Henrietta. Having outgrown its previous location, the project will see the expansion of the company’s optical transceiver operations to include new engineering, production and office space. As a result of the project, the communications equipment manufacturer has committed to creating up to 59 new jobs;62 jobs will be retained. The company, which is focused on optical transport technologies, is already operational in the new location.
“Precision OT’s further expansion in the Finger Lakes only adds to the region’s momentum as a destination for high-tech business and innovation,” said Empire State Development Acting Commissioner and President & CEO-designate Hope Knight. “Most importantly, this expansion will continue to accelerate job growth throughout the region, which remains laser-focused on the industries of tomorrow.”
Founded in 2008, Precision OT works with a wide variety of industries, including health care, education, enterprise, government entities, and service providers. Precision has invested heavily into Silicon and Integrated Photonics, resulting in significant growth in both its technical and manufacturing operations leading to the need for the planned expansion. Precision OT also recently announced that its Advanced Engineering Group acquired nine patents in the areas of optical networking, integrated photonics and photonic radio systems,
“The expansion into this state-of-the-art facility marks a continuation of Precision OT’s rapid growth and is a pivotal milestone in taking our production and creation of optical solutions to the next level,” says David Halladay, President and CEO of Precision OT. “Our new location will not only strengthen our new product development and solutions but help build the networks of tomorrow.”
ESD is assisting the Precision Optical Transceivers with the project by providing up $750,000 through the Finger Lakes Forward Upstate Revitalization Initiative’s (URI) Photonics Attraction Fund. The company has additionally committed to continuing its relationship as a member of AIM Photonics, enabling them to take advantage of the consortiums’ available resources. Monroe County and Greater Rochester Enterprise are also assisting with the move.
The Photonics Attraction Fund is available for companies who are using integrated photonics technologies and are committed to establishing or expanding their manufacturing operations in the the Finger Lakes region. They must additionally demonstrate the adequacy of its resources, experience, and past performance. The region’s award winning $500 Million URI plan is laser-focused on growing the areas renowned reputation as a leader in the optics, photonics and imaging industries.
State Senator Patrick M. Gallivan said, “I congratulate Precision Optical Transceivers on their expansion. The company’s commitment to Henrietta and Monroe County will create new jobs and send a powerful message about the quality and diversity of our local workforce and the innovative spirit of the community. New York’s investment will also help attract other high-tech industries to the Finger Lakes Region in the future.”
State Assemblymember Harry Bronson said, “I applaud David Halladay, and the team at Precision Optical Transceivers for their commitment to our region. Today’s announcement by the company and Empire State Development shows that the Rochester area has a strong, diverse, and skilled workforce and is in an economic position to create jobs for the future. I look forward to Precision Optical Transceivers’ growth and the addition of new jobs at the Henrietta campus.”
Monroe County Executive Adam Bello said, “Precision OT’s expansion of its local operations will create more jobs and is yet another proof point that Monroe County is a hub for technology and innovation. Thank you to Gov. Kathy Hochul, Empire State Development and Precision OT for your investment in our local economy.”
Henrietta Town Supervisor Steve Schultz said, “The Town of Henrietta is always happy to welcome leading firms, like Precision Optical Transceivers. With close proximity to two leading universities in the imaging and optics fields, RIT and UR, Henrietta is becoming a hub for photonics and companies like Precision OT and government initiatives like AIM Photonics will only help grow that, providing more high end jobs for the community as well as the additive effect on other local businesses that comes from having these employees in Town.”
Finger Lakes Regional Economic Development Council Co-Chairs said, “We applaud the decision by Precision Optical Transceivers to continue to grow its business in Monroe County. As a result, the innovative company can continue to take advantage of the top-notch optics and imaging talent that is widely available in the region. We have no doubt that the company’s commitment to continue to partner with the AIM Photonics team will also assist with its future growth and success.”
Matt Hurlbutt, president and CEO, Greater Rochester Enterprise said, “Rochester, NY, is recognized as the world leader in optics, photonics, and imaging, making it the perfect location for Precision Optical Transceivers to expand and thrive. Precision Optical Transceivers’ leaders are leveraging the world-class R&D assets and highly skilled workforce in the Greater Rochester, NY region to accelerate the company’s growth plans. GRE looks forward to supporting Precision Optical Transceivers growth in the Greater Rochester, NY region.”
For additional information about Precision Optical Transceivers, visit: https://www.precisionot.com/.
Accelerating Finger Lakes Forward
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here.
About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the New York State Regional Economic Development Councils and the marketing of “I LOVE NY,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov.
Original Article by: Empire State Development