Rokt will invest $17.6 million to expand operations at its headquarters in New York City. The ecommerce technology company uses machine learning and AI to make transactions more relevant to shoppers. In addition to its New York City headquarters, the company operates in 15 countries across North America, Europe and the Asia-Pacific region.
“Being able to attract top-tier local talent is crucial to our continued success and growth as a technology company.”
— Bruce Buchanan, CEO, Rokt
To accommodate its growing workforce, Rokt will lease an additional 34,000 square feet of space at 175 Varick Street, bringing its total occupancy in the building to over 100,000 square feet. Rokt will renovate the new space to serve as an R&D hub, where it plans to invest $100 million in developing cutting-edge ecommerce software solutions over the next five years.
As part of the expansion, Rokt will create at least 386 new jobs and retain its existing 300 full-time positions in New York City.
Empire State Development (ESD) is supporting the expansion with up to $4.7 million in performance-based Excelsior Jobs Program tax credits.
“Being able to attract top-tier local talent is crucial to our continued success and growth as a technology company,” said Bruce Buchanan, CEO of Rokt. “We’re proud to call New York City home to our global headquarters and we’re grateful for the support of Governor Hochul and Empire State Development as we expand our presence here and establish a world-class R&D hub on-site at our offices on Varick Street.”
“Rokt’s headquarters expansion showcases New York City as a thriving hub for ecommerce, with a world-class talent pool that fuels industry achievements,” said ESD President, CEO and Commissioner Hope Knight. “This growth solidifies the city’s role as a catalyst for success, and ESD is proud to support Rokt’s continued growth in the Empire State.”
Creation Technologies Launches $22M Manufacturing Facility In Wayne County
Earlier this month, global electronics manufacturer Creation Technologies (formerly IEC) opened its new 150,000-square-foot manufacturing facility in the Village of Newark, Wayne County. The company, whose technologies support the medical, tech industrial, and aerospace and defense sectors, has created 179 jobs as part of a multi-year commitment to create more than 360 jobs. The Boston-based company employs more than 4,000 workers worldwide in locations across North America and in China.
“As an electronics manufacturing services provider for some of the most demanding applications, we’re proud to be able to offer our customers even greater capacity and capabilities at our Newark facility,” said Creation Technologies Chairman and CEO Stephen P. DeFalco. “This investment will enable us to expand with our customers and provide the highest level of service and support.”
ESD provided Creation Technologies with a $2 million Upstate Revitalization Initiative Grant and has offered up to $3 million through the performance-based Excelsior Jobs Tax Credit Program in exchange for the company’s job creation commitments. New York State Electric and Gas Corporation offered up to $600,000 in assistance for the project. The Wayne County IDA also provided incentives for the project, and Greater Rochester Enterprise was instrumental in helping the company to remain in the Finger Lakes region. The total cost for the relocation project from the company’s previous Newark location was approximately $22 million.
“Creation Technologies’ new facility is not just creating a major hub for jobs in New York’s Finger Lakes Region – it’s also creating yet another hub for innovation upstate,” said Governor Kathy Hochul. “Thanks to our shovel-ready sites, talented workforce, and successful business development efforts, New York is continuing to attract 21st century businesses that are creating the good-paying jobs of tomorrow, and we will continue to support the forward-thinking businesses creating breakthrough technologies that will move the Finger Lakes and all of New York State forward.”
NY State Enters $10B Partnership With Semiconductor Industry
New York State recently entered into a $10 billion partnership with several semiconductor industry leaders. Read more…
NY State Enters $10B Partnership With Semiconductor IndustryIn December of 2021, Gov. Hochul announced that the Village had been selected as one of the Finger Lakes Regions’ round five Downtown Revitalization Initiative winners. The community is working to leverage the Erie Canal as a vital asset and is committed to transforming public spaces into vibrant gathering places and providing much needed accommodations and amenities to bolster tourism by offering a diverse mix of housing options to attract new residents.
“Creation Technologies expanded its presence in Newark to capitalize on the talent and electronic manufacturing expertise available in the Greater Rochester, NY region,” commented Greater Rochester Enterprise President and CEO Matt Hurlbutt. “Greater Rochester Enterprise connected the company to local partners and tax incentives and supported site development to help accelerate Creation Technologies’ growth plans. We will continue to support company leaders as they advance product development in the region.”
