Here is another article in our series of things going on around Rochester.
New York State Governor Andrew Cuomo announced on June 1 that the Empire State Development’s Board of Directors approved more than $181 million in economic development funding for 24 different projects, which will create growth and opportunity in nine of the state’s regions.
This funding will create 1,524 new jobs, and retain another 2,009 existing jobs. It will leverage over $5 billion in private assets, and other public funding to back local businesses and projects working to create a foundation in New York for future economic growth.
“This funding is part of this administration’s ongoing efforts to create new opportunities for companies and workers all across New York,” said Governor Cuomo. “By investing in these projects, we are jumpstarting local development priorities, attracting new businesses that create jobs, and helping to rebuild New York’s economy.”
One project in particular is likely to have a huge impact. Cayuga Marketing, which is an association of dairy producers in the Central New York region, will use a grant of $2.5 million to cover a part of the cost of its new dairy processing facility’s machinery and equipment.
The company created Cayuga Milk Ingredients in 2012 to bargain for high milk prices and low farm input costs by constructing the locally-based processing plant that uses milk from farms within 30 miles of the surrounding area. The processing facility, which is capable of processing 1.8 million pounds of whole raw milk per day, has been operating at full capacity since January.
The facility is also helping the national economy. U.S. goods and services exports already support about 9.7 million jobs. By displacing foreign imports of dairy ingredients and exporting its products to new emerging markets in Europe, Oceania, and Asia, the facility is helping an industry that serves as an economic pillar to remain strong.
Back home, $400,000 of the funding will also go to the Rochester Institute of Technology to cover some of the cost of a low humidity “dry room,” which will be used to develop new battery prototypes.