Rochester, N.Y. — Greater Rochester Enterprise (GRE) is celebrating 10 years of growing the local economy and increasing awareness of the region. At a gathering on Thursday, Dec. 6, to recognize investors and board members for their contributions to the organization, GRE President and CEO Mark S. Peterson shared statistics garnered from a recent economic impact study. The study conducted last month by GRE illustrates the effect of the organization's 10 biggest deals on the region. Highlights include the creation of more than 3,200 jobs (direct and indirect) and an economic footprint of more than $1.2 billion in direct and indirect capital investments and job creation.
"We are happy to celebrate this milestone, with much of the credit going to our investors and board members, who have supported GRE and our mission throughout the past decade," Peterson said. "Every single one of these jobs and every dollar funneled into this economy as a result, can be attributed to those who took a risk and backed this organization."
Since 2006 alone, Barilla America, Intrinsiq Materials, Omni-ID, Quintel Technologies, Alpina Foods, FedEx Freight, DataPhysics Research Inc., LiDestri Foods, Maximus and Muller Quaker Dairy have spent $402.4 million on new capital investments in the Greater Rochester, N.Y., Region, constructing and outfitting manufacturing plants and distribution centers, or retrofitting existing facilities. These projects resulted in the direct creation of approximately 1,246 jobs, which include line workers, software engineers, mechanics, customer service representatives and more.
Without taking capital investments into consideration, GRE's analysis shows that the 1,246 jobs are responsible for indirectly creating and/or supporting an additional 2,005 jobs in the Greater Rochester, N.Y., Region and generating an additional economic output of $772 million in labor income and productivity.
The local industries most heavily impacted include business support services, food processing and agricultural operations, trucking, wholesale trade and restaurants, which all experienced direct, indirect and induced benefits.
Between initial capital investments and job creation, these 10 companies have had a $1.2 billion economic impact on the Greater Rochester, N.Y., Region.
The Greater Rochester, N.Y., Region includes Monroe, Ontario, Genesee, Livingston, Orleans, Seneca, Wayne, Wyoming and Yates counties. GRE actively promotes the region's assets, such as its highly-skilled workforce, natural resources, exceptional R&D facilities, and world-class colleges and universities through marketing to site selectors, social media, national public relations efforts, the annual Eyes on the Future economic summit and the award-winning Eyes on the Future radio show. These efforts are fully funded by voluntary support from more than 110 local businesses and government entities.
"As an investor and current GRE board chair, I'm thrilled with the strides GRE has made in promoting our region's assets and growing the local economy," said Peter Robinson, vice president and chief operating officer at University of Rochester Medical Center. "Regionally, we continue to see outstanding growth in multiple sectors, such as food and beverage manufacturing, optics, renewable energy and business services." Click here
to see a complete version of the economic impact study.