Investment Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy
Empire State Development (ESD) announced that internet of things (IoT) solutions and management services firm KORE will expand its operations in Monroe County, moving to a new, larger location of in the Town of Pittsford. The high-technology firm will grow its manufacturing operations at an existing facility located at 3750 Monroe Avenue, committing to creating up to 52 new jobs in the region over the next five years; 108 jobs will be retained.The project will see KORE expand its IoT managed services offerings connecting the dots for customers between getting their devices delivered, connected, and supported in an FDA and ISO 13485/9001 facility. The company expects to be operational in the new space early in the first quarter of next year.
Empire State Development Acting Commissioner and President & CEO-designate Hope Knight said, “KORE is yet another company choosing to expand in the Finger Lakes, thanks to regional tech and talent strengths that support success. KORE’s growth also reflects how our strategic incentives for forward-thinking projects strengthen the economy and create good-paying jobs, in Monroe County and across New York State.”
Headquartered in Alpharetta, Georgia, KORE assists its customers with turning complex, fragmented IoT offerings into services that are designed for simplicity and scale. KORE offers a complete IoT strategy for its clients, including end-to-end security, technology, evaluation, selection development, connectivity and device and data management among other things. KORE services over 6,000 customers worldwide in multiple vertical markets, including connected health, fleet management, asset management, industrial, OEMs, smart applications (IoT), and communications services.
“We are pleased to be expanding our offerings and capabilities in the Rochester area,” commented KORE President and CEO Romil Bahl. “This area has been critical to our ability to help our customers deploy, manage and scale their IoT solutions in some of the most highly regulated industries. The rich talent pool and cooperation with local authorities have all contributed to what we view as a very bright future with the Rochester community.”
ESD is assisting KORE with up to $400,000 through the Excelsior Jobs Tax Credit Program in exchange for the job creation commitments. Monroe County and Greater Rochester Enterprise are also supporting the company’s continued regional growth. The total project cost has been placed at $1.2 million.
State Senator Samra G. Brouk said, “I am proud that State action, through programs like Finger Lakes Forward, continues to create local jobs and develop our region as a globally recognized hub of technological innovation and advanced manufacturing. The expansion of KORE in Monroe County is a promising connection between Rochester’s skilled workforce and burgeoning new sectors of our economy and promises sustainable local jobs with good pay for years to come.”
State Assemblywoman Marjorie Byrnes said, “Job creation is always good news for our community and the greater Monroe County region that I am proud to represent. As New Yorkers face unprecedented challenges recovering from the pandemic’s economic fallout, coupled with rising inflation costs not seen since the 1970s, it is always welcome to see the hard work and determination of our local businesses paying off. Not only does it help those at KORE, of course, but it helps our entire regional economy. This region is an economic engine thanks to the entrepreneurial spirit of companies like KORE. Well done!”
County Executive Adam Bello said, “KORE’s expansion is just the latest example of why Monroe County was recently named a top area in the entire country best positioned to jump start our nation’s innovation economy. It’s always a great day when we can welcome more high-paying, quality jobs of the future in Monroe County. Thank you to Empire State Development for continuing to foster economic growth for our region.”
Matt Hurlbutt, President and CEO, Greater Rochester Enterprise said, “KORE chose to expand in the Greater Rochester, NY region because of the workforce needed to meet aggressive growth plans. Their new facility will help KORE keep pace with the rising demand for digital healthcare solutions.”
For additional information about KORE, Visit: https://www.korewireless.com/
Accelerating Finger Lakes Forward
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here.
About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the New York State Regional Economic Development Councils and the marketing of “I LOVE NY,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov.