High-Tech Company Will Lease Space at NextCorps in the Renovated Sibley Building for Engineering Division Creating Up to 45 New Jobs
Investment Complements "Finger Lakes Forward" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy
Governor Andrew M. Cuomo today announced that Boston-based technology firm Catalant Technologies will establish engineering operations in the city of Rochester's Downtown Innovation Zone. The innovative company has committed to creating up to 45 new jobs on site over the next three years, leasing space from NextCorps located in the renovated Sibley Building. The move will support the company's expansion of its software engineering team to drive its agile operating model software. The company will begin operating in the leased space in February 2019.
"Downtown Rochester's Innovation Zone is home to some of the most talented tech companies in the industry, boosting the region's economy and attracting new businesses to the area," Governor Cuomo said. "With companies like Catalant Technologies expanding their operations in the Finger Lakes, we are helping to create new, good-paying jobs and continuing to move the Finger Lakes Forward."
"The addition to Rochester's Downtown Innovation Zone will bring another high-tech company to the area and create new jobs," said Lieutenant Governor Kathy Hochul. "This investment will expand Catalant Technologies' engineering operations and continue to move the Finger Lakes economy forward."
Catalant's technology platform and programs enable companies to get critical work done faster—including 30 percent of the Fortune 100—as they transition to an agile operating model. Catalant's platform allows companies to access and deploy talent including employees, over 50,000 independent consultants, and 1,000 boutique firms in Catalant's Expert Marketplace.
Catalant Co-Founders, Rob Biederman and Pat Petitti said, "The opening of our Rochester office is a major milestone for Catalant. We went through a long process to select the city with the best potential for us to build a world class engineering office, and we couldn't be more excited to partner with the Rochester community. Now it's all about growing our Rochester presence as fast as we can and doing our best to contribute to the city's culture of innovation."
Empire State Development President, CEO & Commissioner Howard Zemsky said, "Rochester's Downtown Innovation Zone is creating a high-tech ecosystem for cutting-edge companies, creating 21st century jobs and building on the growing economic momentum of the city's center."
To encourage this successful company to grow its business in Rochester, Empire State Development has offered up to $900,000 through the performance-based Excelsior Tax Credit Program in exchange for job creation commitments. Monroe County, the City of Rochester and Greater Rochester Enterprise are also providing assistance for the project.
The decision by Catalant Technologies to establish its New York engineering operations in Rochester's Downtown Innovation Zone builds on the momentum that is building in the area, complemented by the comprehensive "ROC the Riverway" project announced by Governor Cuomo in February of 2018. The $50 million initiative aims to revolutionize the area surrounding the Genesee River and unlock the potential of Rochester's waterfront. Catalant Technologies' new home, NextCorps, is also currently hosting round two of the innovative $10 million Luminate NY initiative, which is the world's largest startup accelerator program for optics, photonics and imaging technologies.
Senator Joe Robach said, "The Rochester Downtown Innovation Zone has become a hub of job creation and forward thinking. Catalant Technologies' commitment to the city of Rochester and the Downtown Innovation Zone is a perfect fit and cause for celebration. I look forward to working with Catalant Technologies to grow and expand their business and bring even more jobs to our region."
Assembly Member Harry Bronson said, "I applaud Rob Biederman and Pat Petitti, and the team at Catalant Technologies for their commitment to our region. Today's announcement by the company and Governor Cuomo 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 Catalant Technologies growth and the addition of new jobs at the Rochester's Downtown Innovation Zone campus."
Rochester Mayor Lovely A. Warren said, "The addition of Catalant Technologies to the Downtown Innovation Zone is welcome news and demonstrates the efforts we are making to foster Rochester's knowledge economy are paying dividends. I want to thank the Catalant team for believing in our city and making this investment in our community. I am also grateful to Governor Cuomo and Empire State Development for their work to retain and grow these jobs in Rochester through Finger Lakes Forward and helping us achieve our goals of creating more jobs, safer, more vibrant neighborhoods and better educational opportunities for our citizens."
County Executive Cheryl Dinolfo said, "Innovative technology is key to creating more jobs in Monroe County. We are proud to welcome Catalant Technologies as they join other job-creating companies, like Datto, in working to develop next generation technologies right here in our community."
Greater Rochester Enterprise President & CEO Matt Hurlbutt said, "After evaluating numerous tech hubs around the country, Catalant's leadership team chose Rochester, NY as the site for its new software engineering team. The caliber of available talent supporting our growing software sector and the affordable cost of doing business provided Rochester with a competitive advantage over other major metro areas."
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 State has already invested more than $6.1 billion in the region since 2012 to lay the groundwork for the plan - investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in.
Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. 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.