Renovations are underway on the 6th floor of the Sibley Building downtown to make room for High Tech Rochester's Business Accelerator.
A groundbreaking ceremony was held on the building's roof Wednesday.
Company president Jim Senall says the accelerator will serve as a hub for start up company formation and growth and a coordinating location for entrepreneurial services across the entire 9 county region.
"It's going create jobs, it's going to create companies, it's going to create some vibrancy and it's going to be a place where all this activity can be coordinated and really consolidated a little bit."
It's been a priority project for the Finger Lakes Regional Economic Development Council, through which it has received significant state funding.
Council Co-chair Joel Seligman says by locating it at Sibley the heart of the innovation zone in downtown Rochester, we're making a comittment to the future of our city.
"It'll be a state-of-the-art coordinated incubation facility that unites the region's resources to help realize this region's true economic potential."
There's also a private sector capital campaign which has raised $1 million dollars toward a $3 million dollar goal.
High Tech Rochester plans to move into its new space in September, 2016.
