Bausch + Lomb Invests $106 Million To Expand Its Rochester, New York, Manufacturing Facility
Area Development Online News Desk (11/25/2013)
Bausch + Lomb, a Valeant Pharmaceutical International Inc. company, will invest $106 million to expand its core manufacturing and distribution services in Rochester, New York, for a brand new contact lens line. The company’s decision will help keep 1,050 jobs in the Finger Lakes region and create an additional 100 new jobs.
Bausch + Lomb’s project involves the installation of two new, state-of-the-art manufacturing lines for the production of contact lens. A substantial amount of interior building renovation and new infrastructure additions will also take place.
J. Michael Pearson, Chairman and Chief Executive Officer of Valeant, said, “The Governor’s office has been instrumental in creating a strong package that provided Valeant with incentives to grow our manufacturing lines in Rochester. We are pleased to be able to focus the production of our new silicone hydrogel contact lens in Rochester, in addition to our more mature products that patients and doctors continue to support.”
According to Gov. Andrew Cuomo’s Office a state package of incentives provided to the firm includes a $5.8 million Empire State Development grant and up to $6.2 million in performance-based Excelsior Jobs Program tax credits. Local incentive packages have also been provided to the firm.
Empire State Development President, CEO and Commissioner Kenneth Adams said, “Bausch & Lomb’s decision to partner with the state of New York to retain and create jobs is a major vote of confidence in the Rochester area and a huge win for their Rochester workforce and for the 100 new manufacturing workers they will hire”
In addition, Rochester Gas & Electric has committed to provide $1 million in grant assistance for electric infrastructure improvements, plus up to $70,000 toward energy efficiency improvements.
“Bringing manufacturing jobs to New York is critically important to the state’s economy and RG&E is proud to be part of this new opportunity,” said Mark S. Lynch, President of NYSEG and RG&E. “This project in Rochester is a prime example of why RG&E has economic development programs – to spur capital investment and create jobs in upstate New York.”