CORNING, NY-Gov. Eliot Spitzer as well as other state and local dignitaries were on hand for the groundbreaking of Corning Inc.'s $300-million expansion at its Sullivan Park Research and Development campus. The project involves a new 150,000-sf facility and a significant upgrade of an existing R&D building at its Steuben County-based complex. All phases of the expansion project are expected to be completed by 2013.
Corning chairman and CEO Wendell Weeks says the "groundbreaking represents an important milestone in our continuing commitment to excellence in research and development and to the southern tier of New York State." The Sullivan Park campus conducts leading-edge research in display technologies, telecommunications, environmental technologies and life sciences, state officials say.
The project is being supported by millions in grants and tax credits by Steuben County and New York State. Empire State Development Corp. will provide a $1.5-million Jobs Now grant to be used toward machinery and equipment expenses; New York State Energy Research and Development Authority 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. Corning 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. State officials say the project once completed will create 300 new jobs and retain 1,500 existing jobs.
"Today's announcement demonstrates that great companies like Corning are investing in Upstate New York's innovation economy because they understand its potential," notes Spitzer in a prepared statement. "These are the type of key projects that will continue to drive the revival of the Upstate economy and the southern tier."
Corning maintains its worldwide headquarters at One Riverfront Plaza in Corning. It has more than 5,500 employees in New York State and 25,000 worldwide.
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