Nanotechnology company in Homer relocating to Canandaigua

The moving trucks have already arrived at Dynamax in Homer. The image-sensory developer is packing up and moving to the Smart System Technology & Commercialization Center in Canandaigua.

The move was announced today by Gov. Andrew Cuomo.

The company's CEO, Jim Tan, says 16 employees at the Homer location will be transferred to the new location.

The company, which has operations in several countries, plans to install more than $3 million in high-tech equipment and establish more than 100 jobs at STC over the next three to five years.

Considering the alternatives, Kevin Schwab, Vice President of CenterState CEO says this is good news.

"When a company is growing that's a good sign. If they can't be accommodated in their existing location the next best thing is to accommodate them as close to that location as possible," says Schwab.

Schwab says even though the company is moving out of Central New York, it's better than leaving the state. It's still hard news for people in Homer to hear.

"It's not good when you're in Cortland County and you have a business that you're rightfully proud of that's been growing," says Schwab.

Jill Kowaleski lives in Cortland, NY and says the area is already struggling.

"It's sad. We try to keep as many companies here in Cortland. Our town is hurting. Homer is hurting too. Actually we need to do more to get companies to come in," says Kowaleski.

Others like Water Meyer, wish Dynamax and its employees the best.

"I've never heard of them personally, but Homer's a good community. I've lived there and I hope they do well," says Meyer.

Tan says it would have taken a multi-million dollar investment to keep the company in Homer. Since he was considering relocating to California or even overseas, he's just happy the jobs will stay here in New York state.