Of the $28 million, $16 million to CEO is designated for the build-out and renovation of 100,000 square feet of space at Building #3, an 18 month construction process expected to begin in early 2011. The remaining $12 million to CNSE will fund specialized equipment and resources to accelerate the development and commercialization of nanotechnology by Lockheed Martin and firms locating in the Excelerator.
Through the establishment of Electronics Park Building #3 (also known as the Electronics Laboratory) as a 21st century business incubator and technology accelerator, the NICE initiative will create lab space for technology collaboration and integration, enabling the development of nanoscale applications for commercial deployment. By leveraging Lockheed Martin suppliers and integrators, NICE will support the innovative enterprises of small and mid-sized businesses, including women and minority businesses. The project is also expected to improve the overall competiveness of Lockheed Martin MS2 operations, proactively supporting the company's long-term retention and growth in Syracuse.
Group4 Labs, Inc. will be the first tenant at the NICE facility. The company, which makes advanced nanoelectronics devices for use in a variety of commercial, defense and clean energy applications, will initially locate seven employees in the Syracuse area, and plans to quickly grow to 14 jobs in the region.