The building that houses some of the area’s photonics activity has been sold.
The building is home to AIM Photonics organization’s TAP, or testing, assembly and packaging facility. It's on Lake Avenue in Rochester and part of the Eastman Business Park.
A California-based private equity company, FabExchange says it has acquired the building from ON Semiconductor, an Arizona-based company. ON Semiconductor has been winding down its operations in Rochester in recent years; the TAP facility takes up two floors of the building.
FabExchange describes itself as a strategic private equity company specializing in the acquisition of semiconductor and electronics manufacturing services businesses.
Jason Conwall, spokesman for NY CREATES, an organization which helps manage economic development projects for New York State, says the sale of that building is not expected to negatively affect work going on there now, in fact, he’s hopeful FabExchange can attract other high tech companies to that building.
“Obviously we can’t speak for FabExchange, but we have open lines of communication with them and we’re looking forward to potentially working together to attract new businesses that can bolster the region’s growing industry cluster, further enhance our capabilities, and ultimately create new economic opportunities for both the Greater Rochester area and New York State,” Conwall says.
Ali Shafi, Managing Partner for FabExchange, tells WXXI News they are trying to market the building to get semiconductor manufacturing or similar companies to lease space in that building as well. He did say the pandemic, of course, slowed down the process in terms being able to show the building but he remains optimistic.