For Immediate Release
March 4, 2015
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The College at Brockport Sponsors Initial START-UP NY Company
Precision Optical Transceivers to Receive Economic Incentives to Relocate and Expand
BROCKPORT, N.Y. – The College at Brockport, State University of New York, announced that Precision Optical Transceivers, Inc., is the first company to be sponsored by the College through the START-UP NY program. More than 80 companies across the State are participating in this economic development initiative championed by Governor Andrew M. Cuomo.
“We’re extremely proud to have our first foray in START-UP NY,” said John Halstead, PhD, president of The College at Brockport. “In addition to partnering with an outstanding company in Precision Optical, the College should realize internship and research opportunities for its students and faculty.”
“We have been working with Todd Davis and Precision Optical for 18 months and I am thrilled that we finally reached this day,” said James “Beau” Willis, vice president for administration and finance and the College’s START-UP NY liaison. “As this program matures and Brockport sponsors more companies, the ultimate beneficiaries will the Village of Brockport and Town of Sweden, as growing companies and well-paying jobs will move to the area.”
Precision Optical is an existing manufacturer of optical transceivers and accessories used in cable and telecommunications networks. The company has developed proprietary Electrically Erasable Programmable Read-Only Memory coding technology and production processes to enable the rapid delivery of transceivers to customers. Precision Optical is currently operating in Brockport, and will locate new employees to the College’s MetroCenter in Rochester. The company will create eight net new jobs and invest $2,060,000.
"We are thrilled to become a part of the Start-Up NY program in partnership with The College at Brockport. We’ve been warmly welcomed into the Brockport community and look forward to growing quickly here and making our resources available to the college," said Todd Davis, CEO of Precision Optical Transceivers.
"Over 75 percent of Precision’s current staff are graduates of the college and we expect to expand our company using both recent Brockport graduates and residents of the local community. We’ve got a bright future here and are excited about the opportunity in front of us."
The College and Precision Optical are looking to provide space near the Brockport campus to ultimately locate the company. Brockport’s campus plan for START-UP NY plan was approved in May 2104 and can be viewed at http://startup.ny.gov/map-school/suny-brockport.
About START-UP NY
START-UP NY seeks to accelerate entrepreneurialism and job creation across the state on a large scale, with a particular focus on Upstate New York. Under the program, businesses sponsored by participating colleges and universities that create net new jobs will operate 100 percent tax-free for 10 years, paying no state income tax, business or corporate state or local taxes, sales tax, property tax or franchise fees. The companies will have opportunities to partner with the higher education institutions, as well as access industry experts and advanced research laboratories associated with the schools.
The College at Brockport, State University of New York
350 New Campus Drive * Brockport, New York 14420-2931
(585) 395-2754 * FAX (585) 395-2723 * www.brockport.edu