The $2.5 million from Senator Bruno will be coupled with $1.5 million in private funding to help high tech companies grow and expand while advancing Sage's science and technology programs.
Evident Technologies of Troy, committed to being the first tenant, projects having 32 jobs in the first year of operation in the Incubator, including 15 new lab technicians, and the number is expected to double over the course of three years.
"This project will build on our continuing efforts to make Troy and the Capital Region, birthplace of the American Industrial Revolution, the heart of the emerging technologies industries of the 21st century. It will be an important next step in developing Tech Valley," said Senator Bruno. "It is another positive example of the good things that can happen when the public sector, private enterprise and academic institutions work together to make innovative ideas reality. This investment will help cutting edge businesses develop their products and create jobs, while it enhances Russell Sage's reputation as one of finest colleges for women in the nation."
"The impact of this facility will be far-reaching," said Jeanne Neff, president of The Sage Colleges, "as it enriches our educational environment and contributes to the development of the waterfront area south of campus where we hope to see similar businesses and research facilities established over time. Its location at Russell Sage also makes clear that women can do science!"