Economic Outlook for the Greater
Rochester Region
Mark Peterson
CEO, Greater Rochester Enterprise
HOSTED BY
PRESENTED BY
June 10, 2016
®
Greater Rochester Enterprise’s
Purpose
Greater Rochester Enterprise (GRE) is an
economic development organization committed
to attracting new capital investments and
creating regional wealth and new jobs
throughout the Greater Rochester, NY region.
As a no-cost intermediary, the GRE team of
professionals will help you connect to the right
people and find the right resources to expand
your company here. We are the first call you
should make if you want to grow your business.
Snapshot of the Greater Rochester Region
Population:
1,218,627
Total Workforce:
590,400
Geographic Size:
9-county Greater Rochester Region
(Genesee, Livingston, Monroe, Ontario, Orleans,
Seneca, Wayne, Wyoming and Yates)
Conveniently located within 400 miles of Boston, New York City, Philadelphia and
Washington, DC
Sources: U.S. Census Bureau, July 2014 Population Estimates; New York State Dept. of Labor, November 2015
New Growth in Rochester Region
2nd Largest Exporter in New York State
5.7% of NY merchandising exports
Outrank Atlanta, Dallas,
Philadelphia and DC on per capita basis
More than $7.5B in exports:
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Chemicals
Communications Equipment
Machinery
Precision Instruments
Computer and Electronic Products
Royalties
Business Services
Food and Manufactured Goods
Solid Gains in Exports of Goods from
Key Sectors
Food & Beverage
Products
2014 Exports ($ Millions)
2013 to 2014 % Change
$327
12.9%
Fabricated Metal Products $162
9.1%
Computer & Electronic
Products
$844
9.0%
Financial Services
$440
8.9%
Source: M&T Bank & Brookings Institution 2014
Accelerating Growth of SecondStage Companies
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GRE’s Economic Gardening program
Accepting new applicants
Finger Lakes Wins $500M in URI
Competition
3 Winning Regions:
• Finger Lakes
• Central NY
• Southern Tier
Also Received $30M of CFA Funding in
Round V of REDC
Evaluated 1,000+ industries to
identify core clusters
Evaluated a broad set of
1,000+ sub-industries
Focusing on a set of
strong growth industry clusters
Filters:
Optics, Photonics,
and Imaging
Job growth
Output growth
Regional focus
Regional fit
Interviews
Agriculture and
Food Production
Next-Generation
Manufacturing &
Technology
Enablers
Pillars
Elements of URI Framework
Optics, Photonics,
and Imaging
Agriculture and
Food Production
Pathways to Prosperity:
Workforce Development
Entrepreneurship &
Development
The Foundation: Quality of Life
Next Generation
Manufacturing and
Technology
Higher Education
and Research
Business Attraction Focus:
STAMP – Game Changer for Region
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Semiconductor
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Flat Panel Display
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Photovoltaic (Solar)
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Bio-Sciences
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Advanced Manufacturing and R&D type projects
Site & Regional Features:
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1,250 acre campus
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High Capacity Infrastructure
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12M gpd Water, Sewer
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24” Natural Gas transmission main
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200MW to 500MW Electric [NGRID/NYPA]
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Hydropower Zone
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Commuter Shed: 2.1M
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7 Regional University’s (17,500)
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5 Community Colleges (53,000)
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GCC, ECC, MCC, NCCC, FLCC
Economic Returns Potential:
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20B+ investment
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Up to 10,000 jobs onsite
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50,000 jobs regionally
Site Development Investment:
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Current Phase: $33M
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Full Build Out: $350M
1366 Technologies – Landmark Expansion
in Rochester Region
Summary
The Greater Rochester Region has:
• World Class Manufacturing expertise
• Highly-skilled, productive and available workforce
• Cost competitive business environment
• Close proximity to major markets
• Exceptional quality of life
Questions?
THANK YOU SPONSORS
EXHIBITOR LIST
Littler Mendelson, P.C.
Digital Rochester
SEKO Worldwide
Global NY, Empire State Development
Export-Import Bank of the U.S.
U.S. Small Business Administration
U.S. Department of Commerce
Mohawk Global Logistics
Language Intelligence
ER – Select LLC
CentriLogic
Wells Fargo Bank
ALT Translations, LLC
High Tech Rochester
Brockport Small Business Development Center
St. John Fisher College
PC Results Inc.
Monroe County Economic Development
SPEED Global Services