OLEDWorks, a lighting and panel manufacturing company, has announced it will expand in Rochester, investing more than $73 million and creating 100 jobs over the next five years. In making the announcement, Governor Andrew Cuomo called it "a true New York success story."
OLEDWorks uses organic light emitting diode technology, and says it now expects to manufacture significant quantities of lighting devices.
OLED lighting is much more efficient than traditional incandescent lights, or even the newer compact fluorescent lighting. OLEDWorks was started by some former Kodakers, and earlier this year announced it would buy part of Philips' lighting business.
Empire State Development will provide up to $2.5 million in tax credits in return for the job creation and investment commitment.
