By: Daily Record Staff//June 1, 2010
By: Daily Record Staff//June 1, 2010//
Cody Gate Ventures, a venture capital firm, on Tuesday announced its selection of Rochester as the expansion site for three of its companies.
The three firms — Intrinsiq Materials, Quintel Technology and Omni-ID — will combine to hire 250 full-time employees who will specialize in research, development and manufacturing of advanced technology, according to a release from Greater Rochester Enterprise. They also will make capital investments through machinery and equipment purchases and capital expenditures and operating expenses.
The companies plan to begin hiring and bringing their operations to Rochester this summer.
Intrinsiq Material, an advanced materials company that serves the advanced metals and health and wellness industries, is bringing its R&D and manufacturing operations to Rochester and will hire 158 full-time employees.
Quintel, which will hire 68 full-time employees, builds next-generation antenna systems for mobile networks and will is create an additional R&D operation here.
Omni-ID, a provider of high-performance radio frequency identification technology, also will base its R&D operation here and will hire 24 full-time employees.
Rochester was attractive because of its because of its skilled work force, Cody Gate Managing Partner Michael Summers said.
“We consider ourselves to be an innovation firm, and Rochester has a long history of innovation,” he said.
GRE Enterprise President and CEO Mark S. Peterson called it a huge win for Rochester and thanked Empire State Development, Assembly Speaker Sheldon Silver and Assemblyman Joseph D. Morelle. “The 250 jobs that are coming here are high-paying, highly skilled jobs for three companies who will greatly benefit from our top-ranked knowledge workforce,” he said.