Naturally Scientific Joint Venture To Locate Manufacturing Campus At Rochester, New York, Eastman Business Park
NSUS will lease and renovate a 69,000 square foot manufacturing facility that will create plant and vegetable oil to be used for a broad range of industrial applications. New York State will provide the company with two loans totaling $8 million for its $10 million project.
Keith Wilson, Managing Partner of NSUS said, “When considering our first commercial facility in the United States, the combination of world class infrastructure at Eastman Business Park and supportive business environment in New York State, led by Governor Cuomo, made the choice easy. Governor Cuomo’s team laid out a thoughtful and compelling case that made it clear that choosing Eastman Business Park as our U.S. headquarters was in our company’s best interest, and in the best interest of the community.”
NSUS will make its oils from renewable hydrocarbon produced by another Rochester firm, Sweetwater Energy. Sweetwater’s process uses renewable plant materials that are both grown domestically and significantly reduce greenhouse gas emissions.
“Start-up businesses like NSUS are vital to New York State’s efforts to boost the upstate economy through innovation,” said Gov. Andrew Cuomo. “Eastman Business Park is integral to the Finger Lakes region’s economic future and bringing in a new bio-manufacturer will help us continue to revitalize the Park. This project will also provide a significant economic boost to Rochester and the region, and I am pleased to see this project coming together through the support of the Regional Council initiative.”
The Finger Lakes Regional Economic Development Council Strategic Plan identified maintenance and expansion of Eastman Business Park in Rochester as its top priority. The Park’s management has identified three technology clusters—energy storage, biomaterials advanced manufacturing, and functional films and printing—that will enable it to attract new companies, propel future growth and help meet the goal of creating 1,800 jobs over the next five years at the site. NSUS is vital to building the biomaterials advanced manufacturing cluster at the Park.
Eastman Business Park Director Michael Alt said, “We see this as another important step in the creation of an overall biomaterials innovation cluster here at Eastman Business Park. Attracting more companies in this space could create a significant number of jobs, and, in turn, help to revitalize our community and make the region more competitive.”
“Our council has made the development of Eastman Business Park its highest priority,” said Finger Lakes Regional Economic Development Council Co-Chairs, University at Rochester President Joel Seligman and Wegmans Food Markets CEO Danny Wegman. “The combination of private and public investment in the Park, like we see with NSUS, is enabling the Park’s transformation into one of the nation’s leading industrial development sites and a source of significant regional economic growth. We welcome NSUS to Rochester.”
Empire State Development, the state’s economic development agency, will provide a $6 million capital loan and a $2 million NY Works working capital loan to NSUS for a portion of the building renovation, machinery acquisition, installation and related working capital costs at the Eastman Business Park. ESD has a preferred return on this loan and expects to be repaid in full plus interest.
Empire State Development President, CEO and Commissioner Kenneth Adams said, “Thanks to ESD’s assistance, financing was available for NSUS’s project in New York State which will bring dozens of jobs to New York State. Advanced manufacturing of biomaterials is a perfect fit for Eastman Business Park and I’m pleased to see this company grow and create jobs in Rochester.”
How are Uncertain Times Altering Company Location Strategies?
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
Infrastructure Investment as an Economic Stimulus Tool
34th Annual Corporate Survey & the 16th Annual Consultants Survey