ROCHESTER, N.Y., Jan. 24 -- Governor George E. Pataki and Senator Charles E. Schumer today were joined by executives from Kodak, Corning and Xerox to begin a campaign to raise $75 million in private sector investment for the Governor's plan for a Center of Excellence in photonics and optoelectronics in Rochester. The three companies pledged $45 million for the center and committed to helping raise the remainder in partnership with other private sector companies. The Center will serve as a major component of Governor Pataki's new $1 billion hi-tech/biotechnology initiative, which he announced in his recent State of the State address.
The fact that this remarkable investment from leading technology companies has come forward so quickly demonstrates that our new Centers of Excellence initiative will produce tremendous benefits for the Rochester economy and the entire State, Governor Pataki said. Clearly these world leaders in high-tech recognize our top-flight research institutions and business infrastructure will serve as the building blocks for the 21st century economy. I look forward to the unprecedented partnership this Center will forge between the State, industry leaders and our research institutions, as well as the support from Senator Schumer and our congressional delegation.