Senator Charles Schumer says a new center to open in Rochester will be a model for cities all over the state and the nation. He made the statement at the launch of the new center for urban entrepreneurship in the city.
The Rochester Institute of Technology's Center for Urban Entrepreneurship will aim to create a multi-disciplinary area downtown that will foster economic development and business creation.
Schumer says it is a model that could be applied nationwide because he predicts it will allow the city to grow and rejuvenate its economy and job market. The senator attributes Rochester's positive job growth to universities like RIT.
"Plain and simple, RIT's urban entrepreneurship program will allow Rochester to break through to new heights in economic growth and innovation," Schumer said at the event in Rochester.
The center will be located in the former Rochester Savings Bank on Franklin street -- a donation to RIT from Rochester Historic Ventures, who bought the building in 2011.
RIT's president Bill Destler says it will cost about $1.2 million to refurbish the historically-registered building, which will include a multi-use space. The goal is to open its doors by next fall.