Representatives of Cornell Agriculture and Food Technology Park in Geneva are ecstatic after receiving substantial financial support for another investment on their premises. Governor of New York State, Kathy Hochul, announced that the Technology Park will receive a grant of $1.4 million from the Regional Economic Development Initiative. This is one of 19 economic projects that collectively received over $15 million in support.
The funds are expected to be used for the construction of a new building dedicated to light production for multiple tenants within the Technology Park. The new structure, to be built on a 5-acre plot, will serve as an additional space for food production and processing for companies utilizing the resources of Cornell AgriTech. It will also open opportunities for companies that have emerged from the existing incubator.
The main goal of the project is to create spaces for emerging agro-food businesses that wish to collaborate with Cornell AgriTech to expand their operations. Kathy Young, Director of the Center of Excellence in Food and Agriculture at Cornell AgriTech and board member of Tech Farm, expressed gratitude for the funding received. She stated that “the board of Tech Farm is grateful for Governor Hochul’s support of the agriculture and food industry, and this grant will enable job creation and open new possibilities. Tech Farm collaborates with the Center of Excellence in Food and Agriculture at Cornell AgriTech in Geneva to commercialize research, innovation, and technology. The new building will allow growing agro-food companies who want to co-locate with Cornell to expand their operations. This project has turned a long-term goal into reality and we couldn’t be more excited.”
The necessity of constructing a new building arises from the increasing interest in space at Tech Farm and the need to provide suitable conditions for innovative businesses. Details regarding interested companies will be announced soon, but it is already evident that this investment is highly anticipated by the local community and generating significant interest.
FAQ
1. What financial support did Cornell Agriculture and Food Technology Park receive?
Cornell Agriculture and Food Technology Park received a grant of $1.4 million from the Regional Economic Development Initiative.
2. What will be constructed using these funds?
The funds will be used for the construction of a new building dedicated to light production for multiple tenants within the Technology Park.
3. What are the objectives of this project?
The main goal of the project is to create spaces for emerging agro-food businesses that wish to collaborate with Cornell AgriTech to expand their operations.
4. What benefits will the new building bring?
The new building will allow growing agro-food companies who want to co-locate with Cornell to expand their operations.
5. Who expressed gratitude for the funding received?
Kathy Young, Director of the Center of Excellence in Food and Agriculture at Cornell AgriTech and board member of Tech Farm, expressed gratitude for the funding received.
6. Why is it necessary to construct a new building?
The necessity of constructing a new building arises from the increasing interest in space at Tech Farm and the need to provide suitable conditions for innovative businesses.
Key Terms:
– Cornell Agriculture and Food Technology Park in Geneva – A Technology Park in Geneva focused on agriculture and food technology.
– Regional Economic Development Initiative – A program offering financial support for economic projects within the region.
– Agro-food – Pertaining to the industry that encompasses food production and agriculture.
– Cornell AgriTech – Center of Excellence in Food and Agriculture affiliated with Cornell University.
– Tech Farm – A site where research, innovation, and technology development related to agriculture and food processing take place.
Suggested Related Links:
– Cornell AgriTech Homepage
– Tech Farm Homepage
The source of the article is from the blog macnifico.pt