UNiCON is proud to announce that the Finger Lakes Regional Economic Development Council has been awarded $500 million to help transform our community. Governor Cuomo announced $2.25 billion in awards throughout the state through Round V of the Regional Economic Development Council initiative and the Upstate Revitalization Initiative.
This funding empowers our community through affording for economic growth, increased job creation, improved quality of life, and enhanced educational opportunities. Rochester has suffered from economic decline and impoverishment, and this award offers a hope for the renewed strength and prosperity we have been striving for. Our community, businesses, and academic leaders are now charged with stewardship to make the most impact as laid out in the Upstate Revitalization Initiative plan.
There are many key construction components included within this award. Three main project areas are Eastman Business Park, STAMP, and Downtown Rochester. These are the highlights for construction projects as they seek to expand facilities to support business development. The Sibley Building, a 1.1 million square-foot historic facility downtown Rochester will see its second phase of renovations to create residential, commercial, and office spaces. Eastman Business Park will host various new facilities: a bio refinery for Sweetwater Energy; a nanomaterials commercialization center; 4,000 square feet of specialized laboratory space for BEST Test Commercialization Center (BTCC); a controlled environment agricultural facility for AquaTerRen; and an AIM Photonics Manufacturing Center. Another flagship project site is STAMP, which after attracting a photovoltaic solar manufacturing facility by 1366 Technologies, will continue to outfit their facility to attract four additional nanoscale manufacturing companies. In addition, the University of Rochester seeks to create 246 construction jobs in its construction of a state-of-the-art Laboratory for Laser Energetics.
It is an exciting time for the Finger Lakes Region as we look ahead toward development and seek to prosper our community through economic and community development. It is also a great win for the construction community as the market can better plan for projects in the five years to come through this award.