Empire State Development (ESD) today announced New York State’s investment in ITX Corp. as the software product development firm plans to move its corporate headquarters to the city of Rochester’s Downtown Innovation Zone. Founded and currently based in Pittsford, ITX will relocate to newly remodeled space in The Metropolitan on South Clinton Avenue. In business for more than 20 years locally, the successful software development company had considered growing its operations outside of New York state, but chose to remain thanks to the state investment that encouraged its growth here. ITX plans to create up to 80 new jobs; 62 jobs will be retained. The move to The Metropolitan is expected to be completed by the end of 2019.
Rochester's Downtown Innovation Zone is already home to some of the industry’s most talented tech companies,” said Empire State Development President, CEO and Commissioner Howard Zemsky. "With companies like ITX expanding their operations in the city’s center, we’re building a high-tech ecosystem that creates 21st century jobs and fuels the region’s economic momentum.”
To encourage ITX to continue growing its business in Rochester, ESD has offered up to $1 million through the performance-based Excelsior Tax Credit Program in exchange for job creation commitments. Monroe County, the City of Rochester and Greater Rochester Enterprise are also providing assistance for the project. ITX has committed nearly $ 3 million to the total project cost of more than $3.9 million.
“We are grateful that the state of New York has created a structure through which New York-based companies are incentivized to create jobs here,” said ITX Founder and CEO Ralph Dandrea. “The Rochester community has always been home to ITX, so we’re excited to collaborate with the state not only to remain home, but to deepen our Rochester roots. One of the things we like best about the Excelsior program is the balanced commitment,” Dandrea added. “ITX and ESD are investing in each other. Only when ITX delivers the jobs growth it has promised will we receive the tax credit incentive. We appreciate the integrity of that approach.”
Founded in 1997, ITX began by delivering software and project management services to the telecom industry. The organization has since shifted its primary focus to creating custom software products including web, mobile, API development and more – serving as a strategic partner from the beginning, through design and development, to comprehensive support. In addition to its new location in downtown Rochester, ITX also has offices in Syracuse, Cincinnati, Ohio; Tulsa, Okla., and Portland, Ore.
The decision by ITX to establish its software product development operations in Rochester's Downtown Innovation Zone builds on the momentum already underway in the city center, which is now home to many high-tech companies including Datto, also housed in The Metropolitan, and Catalant Technologies, located at NextCorps in the beautifully restored Sibley building. NextCorps also plays host to the innovative $10 million Luminate NY initiative, which is the world's largest startup accelerator program for optics, photonics, and imaging technologies.
This investment also complements the comprehensive "ROC the Riverway" project, announced by Governor Cuomo in February 2018. The $50 million initiative aims to revolutionize the area surrounding the Genesee River and unlock the potential of Rochester's waterfront.
Senator Joe Robach said, “Rochester’s Downtown Innovation Zone has become a hub of high tech and next-gen ideas and businesses, utilizing our highly skilled and trained local workforce. ITX’s relocation and expansion to the Metropolitan is a perfect fit and will help further the rebirth of downtown Rochester and our local economy. As a state Senator, I am glad to see the state’s investment in this project and am confident that continued success is on the horizon.”
Assembly Member Harry Bronson said, “ITX growing its operations in downtown Rochester is another win for our economy. Adding 80 jobs to 62 existing positions demonstrates ITX leadership’s commitment to our community and speaks to the high caliber of talent we have in our workforce. New York State is setting the standard for business and economic development through dynamic ESD programming and incentives, including Rochester’s Downtown Innovation Zone.”
Rochester Mayor Lovely A. Warren said, “ITX Corp. is going to be an excellent addition to the Downtown Innovation Zone and I am proud of the investments our City has made to bring this growing company to Rochester. I want to thank the owners of this company for believing in our city and bringing these jobs to our community. I am also grateful to Governor Cuomo and Empire State Development for their work to retain and grow these jobs in Rochester through Finger Lakes Forward and helping us achieve our goals of creating more jobs, safer, more vibrant neighborhoods and better educational opportunities for our residents.”
County Executive Cheryl Dinolfo said, "Monroe County is proud to have worked with ITX and facilitated their renewed investment in Rochester. As the home of a burgeoning high-tech sector that sustains thousands of jobs, our community has a growing reputation as an ideal fit for companies looking to capitalize on the incredible assets we offer, including a highly-educated workforce. We're very grateful for ITX's investment and look forward to working with them in the future. Today's announcement is further proof that Monroe County is open for business!"
Matt Hurlbutt, president and CEO, Greater Rochester Enterprise said, "After an assessment of their offices around the country, ITX senior leaders chose to more than double their workforce in Rochester, NY because they can find exceptional IT talent here at an affordable cost of doing business. ITX will move its corporate headquarters to The Metropolitan building in the City of Rochester to be near more than 180 high tech companies that are part of the rapidly growing Downtown Innovation Zone."
For more information about ITX Corp., click here.