New York’s Public Authorities Control Board has released the first $78 million of the state’s commitment to the AIM Photonics Institute in Rochester.
Empire State Development approved the payment last week. The Control Board action means the public-private partnership can begin spending the money. It’s the first installment of $106 million the institute’s governing board has requested from the state. It will go to buy equipment and get it installed and running to support photonics research programs.
The institute said at the time they requested the money that it would take a year to buy the equipment and get it working in Rochester. They haven’t specified where it will be installed; possibly at Canal Ponds or the Eastman Business Park.
The photonics institute has been pledged $600 million in government and private funding, including Defense Department money.