CORNING, N.Y., June 29 -- Corning Inc. will spend $50 million on its photonic technologies plant in Erwin, NY, the company said. The investment will go toward the creation of 700 new jobs and the construction of a 45,000 square foot office building for about 200 engineers currently working at the plant.
The investments will enable Corning to keep up with the increasing demand for optical-networking devices used to build the backbone of the Internet, the company said. The current undertaking comes on the heels of a newly planned photonic technology plant in Benton Township, Pa. Corning anticipates revenues from photonic technologies to increase by 80 percent this year.
We expect demand to continue to grow and are committed to adding the capacity necessary to satisfy this demand, said Dr. Gerald J. Fine, vice-president and general manager of Corning Photonic Technologies. This is but one more step in a series of steps designed to add resources where they can make a difference.
Corning is headquartered in Corning, N.Y., it manufactures optical fiber, cable and photonic products for telecommunications-related industries.