Ocean Insight has revealed plans to expand its operations and generate new employment in New York.
The company will invest almost $1.8 million in expanding its Rochester factory and expects to recruit 100 more employees over the next five years.
The decision to grow was based on the region’s photonics and imaging skills and resources, say the company executives.
President and CEO Michael Edwards said: “The deep technical resources of the area combined with a diverse and positive community make it a great location for Ocean Insight.”
Ocean Insight’s technology analyses light and color in a variety of applications, including high-volume industrial quality control, food processing, medical imaging, agriculture, and air and water analysis.
The majority of its activities are based in Orlando and the project is expected to complete this October.
To help the initiative, New York will offer up to $1 million in state tax credits.
The city and county governments, as well as a local utility and economic development organization, will provide the additional aid.
Hope Knight, the president, CEO, and commissioner of state economic development agency Empire State Development said: “Our focused commitment to workforce development and 21st-century jobs means that companies like Ocean Insight can continue to grow here — with a pipeline to the critical tech talent they need.”
WHAT IS OCEAN INSIGHT?
Ocean Insight develops optical sensing solutions.
Where it is headquartered? The company is headquartered in Orlando, Florida.
How many staff does it have? It currently has around 200 employees.
What is its annual revenue? The annual revenue is around $40 Million.