RED BANK, N.J., May 17, 2013 /PRNewswire/ -- Governor Andrew
M. Cuomo today announced that Natcore Technology of Red Bank, NJ, will expand its footprint, and
add 27 new jobs as part of an expansion project in Greece, New York, at Eastman Business Park.
Lt. Gov. Robert Duffy was on hand
for the announcement in Rochester,
NY.
The expansion is being driven by a $914,000 company investment, supported by
$500,000 over 10 years in Excelsior
Jobs Program tax credits. The average wage for the jobs created
will be $98,000 per year, with the
entire project expected to result in $40,000,000 in wages over the 10 years of the
agreement.
Governor Cuomo says, "Too many times, our country has let
technology slip away. Entire industries—for example, television
sets and digital photography-- followed. Now Natcore's technology
gives us an opportunity for the global solar industry to be
centered right here in Rochester.
The Finger Lakes Regional Economic Development Council has worked
hard to make that happen."
"Governor Cuomo is committed to creating jobs and rebuilding the
economy in Western New York, and
today it is clear that Natcore Technology is contributing to this
goal," Lieutenant Governor Robert J.
Duffy said. "Today's announcement reveals more high-tech
jobs and yet another economic boost at the Eastman Business Park,
which will have a great impact in Rochester and the entire region."
Natcore also today extended its lease at Eastman Business Park,
the large industrial park formerly known as Kodak Park. The lease extension expands
Natcore's footprint to 20,000 sq. ft. The additional space is
required to accommodate new equipment that will be used to perfect
the company's black silicon and selective emitter technology.
Chuck Provini, Natcore President
and CEO, says "The Empire State Development incentive will
help us to expedite the move of our technology from the lab to the
factory floor. But more important was the cooperation and the
persistence of the state and local officials, and of Congresswoman
Louise Slaughter, in getting us
where we are today. We already have our eye on the first new lab
hire afforded by this program, with more to come. We are making
major equipment investments. We are moving from
university-based research into the real world."
And Natcore announced that it will move its lab administration
function from Red Bank, NJ, to
office space in downtown Rochester. "We already have our eye on the
first employee for this office," says Provini.
Statements in this press release other than purely historical
factual information, including statements relating to revenues or
profits, or Natcore's future plans and objectives, or expected
sales, cash flows, and capital expenditures constitute
forward-looking statements. Forward-looking statements are based on
numerous assumptions and are subject to all of the risks and
uncertainties inherent in Natcore's business, including risks
inherent in the technology history. There can be no assurance that
such forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on such statements. Except in accordance with
applicable securities laws, Natcore expressly disclaims any
obligation to update any forward-looking statements or
forward-looking statements that are incorporated by reference
herein.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contact: Chuck Provini
732-576-8800
Info@NatcoreSolar.com
SOURCE Natcore Technology Inc.