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GOVERNOR SPITZER AND CORNING ANNOUNCE MAJOR INVESTMENT IN INNOVATION ECONOMY
Expansion of State-of-the-Art R&D Facility Creates 300 New Jobs; Protects 1,500
Governor Eliot Spitzer today joined with Corning Incorporated, and state and local economic development officials to break ground for a major expansion at the company’s Sullivan Park Research and Development complex in Erwin. The company, a world leader in the glass and ceramics industry, will create 300 new high paying, full-time research jobs as a result of the project.
In recognition of Corning Inc.’s commitment to the Southern Tier, the Empire State Development Corporation will provide a $1.5 million Jobs Now grant to be used toward machinery and equipment expenses.
"Today’s announcement demonstrates that great companies like Corning are investing in Upstate New York’s innovation economy because they understand its potential," said Governor Spitzer. "These are the type of key projects that will continue to drive the revival of the Upstate economy and the Southern Tier. Today's groundbreaking at our Sullivan Park facility represents an important milestone in Corning Incorporated's continuing commitment to excellence in research and development, and to the southern tier of New York State."
Daniel C. Gundersen, Upstate Chairman of Empire State Development Corporation, said: "Corning is a world leader in research and development and we are thrilled that we’ve been able to work with them to bring what ranks among the highest paying new jobs to Upstate. As a Fortune 500 company and global leader Corning obviously shares in our belief that the Southern Tier is a great place to do business."
Additionally, the New York State Energy Research and Development Authority (NYSERDA) will provide a $1.5 million grant for implementing energy efficiency measures; and the New York State Department of Transportation will offer $750,000 in grants and loans through its Industrial Access Program.
The company will also receive $6.8 million in Steuben County Industrial County Development Agency sales tax credits on construction materials and $54.7 million in Empire Zone tax credits.
Assemblyman James Bacalles said: "This project is a shining example of what private enterprise and government can do together, working toward a common goal of creating jobs through economic development. Corning Inc.’s expansion project is the result of a cooperative effort by this company, the state, Steuben County and even the Town of Erwin. With our help, Corning Inc. promises to continue developing new technologies and materials which make our lives better and bring prosperity to our region and New York."
Senator George Winner said: "The Sullivan Park expansion is proof-positive of what can be achieved in a local upstate economy through an aggressive, committed and active public-private partnership. It rings in a new generation of growth and success for Corning Incorporated. It’s going to strengthen Corning’s position as a worldwide leader in research and development, maintain our region as a player in the global competition for high-tech economic opportunities, and create meaningful jobs for many area workers and their families. This is the kind of economic victory that can have a ripple effect throughout the upstate economy."
Paul Tonko, President of NYSERDA, said: "NYSERDA is pleased to work with our partners in state government in providing Corning with an economic development package that will help the company make the investments necessary to substantially expand its operations, create high-paying jobs, become more energy efficient and strengthen the Southern Tier economy."
Astrid C. Glynn, New York State Department of Transportation Commissioner, said: "The $750,000 in funding the Department of Transportation is providing will support construction of transportation infrastructure critical to securing economic investment in Steuben County. Under the leadership of Governor Spitzer, we are proud to help support Corning Incorporated's new state-of-the-art research and development center."
Corning’s $300 million investment will be used to build a new 150,000 square-foot facility and upgrade existing buildings at its Steuben County-based Research and Development complex. In addition to creating 300 new, high paying jobs, the project will also retain 1,500 existing jobs. The expansion is expected to be completed by 2013.
The Sullivan Park facility conducts leading-edge research in display technologies, telecommunications, environmental technologies, and life sciences. Its researchers work to identify new materials and processes for future industry needs.
Founded in 1851, Corning Inc. is a Fortune 500 company with $5.17 billion in revenues. It employs over 5,500 individuals in New York State and 25,000 worldwide.
Today's announcement at Corning Incorporated follows several significant economic development initiatives Governor Spitzer announced earlier this year to boost the Southern Tier's economy. Last month, Governor Spitzer announced that Sikorsky Aircraft was adding 100 new jobs and retaining 500 at its facility in Big Flats; and in April, the Governor joined with BAE to announce it was expanding operations at its Johnson City location creating 125 news jobs, and retaining an additional 1,300.