Natcore Technology of Red Bank, New Jersey, will expand its footprint in New York State, as part of its expansion project in Greece, New York, at Eastman Business Park, west of Rochester.
The firm extended its lease at Eastman Business Park, the large industrial park formerly known as Kodak Park. The lease extension expands Natcore's footprint to 20,000 sq. ft. The additional space is required to accommodate new equipment that will be used to perfect the company's black silicon and selective emitter technology.
The company said its expansion is driven by a $914,000 company investment, supported by $500,000 over 10 years in Excelsior Jobs Program tax credits. The average wage for the jobs created will be $98,000 per year, with the entire project expected to result in $40 million in wages over the 10 years of the agreement.
Chuck Provini, Natcore President and CEO, says "The Empire State Development incentive will help us to expedite the move of our technology from the lab to the factory floor. But more important was the cooperation and the persistence of the state and local officials, and of Congresswoman Louise Slaughter , in getting us where we are today. We already have our eye on the first new lab hire afforded by this program, with more to come. We are making major equipment investments. We are moving from university-based research into the real world."
In addition, Natcore said it will move its lab administration function from Red Bank, NJ, to office space in downtown Rochester. "We already have our eye on the first employee for this office," said Provini.
Governor Andrew Cuomo says, "Too many times, our country has let technology slip away. Entire industries—for example, television sets and digital photography-- followed. Now Natcore's technology gives us an opportunity for the global solar industry to be centered right here in Rochester. The Finger Lakes Regional Economic Development Council has worked hard to make that happen."
"Governor Cuomo is committed to creating jobs and rebuilding the economy in Western New York, and today it is clear that Natcore Technology is contributing to this goal," Lieutenant Governor Robert J. Duffy said. "Today's announcement reveals more high-tech jobs and yet another economic boost at the Eastman Business Park, which will have a great impact in Rochester and the entire region."