The photonics industry is poised to grow into a $766 billion industry by 2020, according to a report from Transparency Market Research, and Eastman Business Park is taking steps to ensure that some of that growth can be found on its campus.
It will welcome the first new member of its budding photonics community this year when Precision Optical Transceivers relocates to the modern manufacturing campus. The move is a significant step as EBP positions itself to be the focal point of the photonics industry in the state.
“The assets we have to offer at EBP will go a long way in helping Precision be even more successful as it becomes one of the earliest members of the new photonics test, assembly and packaging community we’re building here,” said Dolores Kruchten, EBP president and vice president of Eastman Kodak Co. “This is exactly the kind of company we want to partner with, and we’re looking forward to a long and productive relationship.”
Photonics technology has a wide range of applications, from creating the fastest internet networks to helping detect diseases earlier. Precision — which works with the health care, education and enterprise industries, government entities and service providers — chose EBP to expand its operation largely due to the proximity of the new AIM Photonics facility located on the campus at ON Semiconductor. The company employs 20 people, is looking to add another 10 positions once it opens at EBP and plans to add another 20 jobs over the next two years.
“Our company has been growing rapidly, so expansion was inevitable,” CEO Todd Davis said. “We wanted to relocate to a place where we not only can continue to grow, but to a place that will actually help us grow. The recent announcement that the AIM Photonics Test, Assembly and Packaging Center would be located in Eastman Business Park means we will be very close to the epicenter of Photonics research and manufacturing growth. The manufacturing support infrastructure of the park means we will have access to all the support we need to grow rapidly.”
With its optics-rich history, Rochester has invested heavily in the photonics industry in recent years, aiming to create a community of the best and brightest in the field. The New York State Photonics Board announced in March that its headquarters will also be at EBP.
“Our region is pleased to see a leading company like Precision Optical Transceivers join one of New York state’s high-tech clusters,” said Robert Duffy, chairman of AIM Photonics Leadership Council and president and CEO of Greater Rochester Chamber of Commerce. “It is exciting to see that the AIM Photonics initiative and its TAP facility, along with the area’s highly skilled workforce, are already creating powerful reasons for innovative companies to locate and prosper here.”
Precision Optical Transceivers is planning to open the doors at its new location in EBP in mid-May or early June. Gov. Andrew Cuomo helped announce the news of Precision Optical’s move to EBP, highlighting the benefits the company enjoyed from the Start-Up NY program.
“Precision’s Rochester expansion only adds to the region’s momentum as a destination for high tech business and innovation,” Cuomo said. “This great news is one more reason why the Finger Lakes is moving forward.”
Supporting the continued growth of EBP remains a top priority of the Finger Lakes Regional Economic Development Council and the Finger Lakes Forward strategic economic plan.
Precision has invested into silicon and integrated photonics over the past two years and expects growth in its technical and manufacturing capabilities by 2020. Precision intends to continue its heavy involvement in silicon and integrated photonics throughout the next decade, following the success of its current optical transceiver business.