State Comptroller Thomas DiNapoli visits Rochester to announce a new investment into the region through the state pension fund.
DiNapoli toured Ambrell, a a precision induction heating manufacturing company based in the village of Scottsville.
The Comptroller’s In-State Private Equity Program aims to generate income for the state's pension fund while growing financial opportunities and jobs for local businesses.
DiNapoli says nearly $90 million is being invested in the Greater Rochester area through a cross section of manufacturing and technology-driven businesses.
"This is probably the success story that not many people believes is happening in our own backyard. Now for us to promote an investment opportunity here and helped to be part of their continued growth that achieve that double bottom line where we're making money to build our pension fund and also helping grow our economy in New York."
DiNapoli says the Rochester region has been one of the most "active" geographic areas of investments through In-State program.
One billion dollars has been dedicated to the program, of which DiNapoli says over $370 million is still available to invest in our area.
DiNapoli also announced the a $1.5 million return from the investment made by the Fund in iCardiac Technologies, an electrocardiography laboratory here in Rochester.