Three high-tech companies, looking to expand operations, are coming to Rochester. Those expansions will create 250 new jobs over the next four years.

Cody Gate Ventures is bringing the companies to Rochester. It is a venture capital firm with a large portfolio of companies.

Cody Gate joined Greater Rochester Enterprise in announcing the move. Rochester was selected over a location in Eastern Europe.

"One thing does stand out and that is the quality of the workforce. By that, specifically what I mean is the entrepreneurial spirit couched in a very deep technical tradition here," Cody Gate Ventures U.S. Managing Partner Michael Summer explained as to why Rochester was selected.

Intrinsiq Materials is an advanced materials company that will hire 158 full-time employees to work in research and development and manufacturing.

Quintel Technology is a provider of next generation antenna systems for mobile networks. It will create 68 jobs in research and development.

Omni-ID provides high performance radio frequency identification technology. Twenty-four people will be hired in research and development.

The firms will receive $12 million in state and local incentives and will collaborate with other entities to help make this a successful venture.

"This is the new economy of Rochester,” said Mark Peterson of GRE. “Welcome to it, it's here, this is it, here's a living example of it and we feel very strongly that this is just the beginning of the new economy."

Cody Gate is looking to move the three companies into the Eastman Business Park located at Ridgeway Avenue and Mt. Read Boulevard. A deal has yet to be finalized, but officials are hoping an agreement with Kodak can be reached by the end of the week.

Taking over existing buildings will make the move to Rochester more economical, and the buildings available at Kodak support the infrastructure that the three companies need to get up and running as quickly as possible.

Cody Gate Ventures said it also gives them room for future expansion.

"We have other companies in our portfolio at lease one of which we're taking a very close at expanding also here in Rochester. There's news there today, but we're looking very aggressively at that,” Summers said. “The CEO of that company has already been here to Rochester I think three or four times, maybe even more times than that."

It will take four years for all 250 jobs to be in place. The first hires are expected sometime in late July or early August.

Click the links below to find out more on each of the three companies coming to Rochester.

Intrinsiq Materials
Quintel Technology
Omni-ID