GENEVA, N.Y. — The expansion of the Cornell Agriculture and Food Technology Park Corporation’s (CAFTPC) Tech Farm II in Geneva is now complete.
The project doubles the park’s current capacity and further bolster food, beverage, and agricultural innovation in the Finger Lakes, Empire State Development (ESD) announced on Wednesday.
Tech Farm II offers 20,000 square feet of customizable manufacturing and ancillary space for food and agriculture businesses, It’s designed for research, product development and small-scale manufacturing, ESD said.
(Sponsored)
Latest Tax Scams and Schemes for Tax Filing Season
With the 2024 tax filing season upon us, now is a great time to remind taxpayers to stay vigilant and watch out for bogus tax strategies and schemes. Now more
Mergers and Acquisitions of Architectural and Engineering Firms
The pace of mergers and acquisitions (M&A) in the Architectural and Engineering (A/E) industry is at an all-time high, driven by firms seeking new opportunities for growth. From 2023 to
In addition to providing “badly needed” manufacturing and food-processing space for businesses accessing the resources of Cornell AgriTech, the new facility will additionally provide space for onsite companies that have outgrown the CAFTPC’s existing incubator facility.
The new building is the third facility at the 72-acre park, joining the original 20,000-square-foot Tech Farm incubator building and Finger Lakes Community College’s Viticulture and Wine Center.
Located adjacent to Cornell AgriTech, the facilities are part of an ecosystem of world-renowned research and resources, providing a focused environment for startups and established businesses to grow, ESD said. The Technology Farm opened in 2005, and to date has assisted more than 40 current and former tenants to launch and grow their businesses, it added.
“The current Tech Farm has been at or near capacity since it opened in 2005, demonstrating the need for this much-anticipated expansion,” Michael Manikowski, chairman of CAFTPC, said in the ESD announcement. “Tech Farm II will bring new jobs to the region and provide up-and-coming businesses with the tools they need to thrive. We’re excited to usher in a new era of food and agriculture innovation and economic development in the Finger Lakes.”
ESD supported the project with a $1.4 million grant. The project received federal funding, along with support from the City of Geneva, the Ontario County Economic Development Corporation, and other private financing. The total project cost was placed at $3.5 million, ESD said.
The CAFTPC is one of 20 New York State-certified business incubators, allowing for additional resources for tenant and member companies and a greater impact on the food and agriculture industries across the Finger Lakes region, per the announcement.
